Regularly requesting credit limit increases, if done correctly, can increase your credit score and mitigate the effects of canceling credit cards . This post will explain how to navigate the menus of American Express’ online interface so that you can request a credit limit increase without triggering a hard credit inquiry. I have done this successfully myself several times.
Begin by logging into your American Express account. On the Summary of Accounts screen, click on the link that says “See all Account Services.” It should be located in the right hand side under Manage Your Account. If you can’t find it, here’s a screenshot of how it looks on my account (blue box around the link):
The next screen will list your cards, click on the little yellow arrow to the left of the card. This will expand the account services for that card. Click on the Credit and Balance Transfers tab, it will be the third one. Under the Line of Credit label, there will be a smaller link that says “Increase your Line of Credit.”
After you click that link, you’ll be prompted to enter in the 4-digit security code on the face of your card. Once you enter those digits, you will be faced with this screen:
From here, you just need to enter in your desired credit limit (not the increase, but the credit limit you want) and your income. Click submit and you will either get a screen congratulating you on your new line of credit, available for use within 15 minutes, or you won’t. Don’t abuse this (do it once every six months) or you’ll get a call from AMEX’s Financial Reviews department for further confirmation (according to users of Fatwallet). There have also been reports that it’s simple as long as you keep the limit under $25,000.
Just as an FYI, to get the screenshots for this tutorial I actually requested a credit limit increase. I had a credit limit of $20,000 and was approved for an increase to $25,000 on my American Express TrueEarnings card.