Sample Letter Of Request For Credit Limit Increase
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How to fill out Sample Letter Of Credit?
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FAQ
Explain why you want the increase. Say that you want to keep your credit utilization ratio below 30%, but that you'd like to use the card more. If it's a rewards card, so much the better.
I have been a credit card user of your bank since a really long time and have always been sincere at the time of payments and bills. I also have an account record of being punctual at the time of payments. I now request of an increase of Rs. on my credit card limits.
Dear Sir/Madam, I am writing to request an increase in the credit limit on my credit card account with your bank. The reason for my request is that I have recently obtained a credit card from another bank that has a higher spending limit than my current card with your bank.
If needed, you can take the initiative and contact your bank or credit card company and ask for a credit raise. Highlight all the reasons you deserve one. Remind them of how faithful you've been at making payments or let them know about a recent raise in salary.
If you're responsible with your credit cards and move forward with your credit limit increase, you should decide how high of an increase you want to request. The typical increase amount is about 10% to 25% of your current limit. Anything further may trigger a hard inquiry on your credit.
