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American Express Credit Line Increase Returns

Back in late 2009, I shared a tutorial for how to increase your line of credit on an American Express credit card [3]. As the credit crisis intensified, American Express removed that option from the account management screens – leaving many without a way to request an increase online. Well, the hawks at Fatwallet [4] have reported that the option has returned!

The original tutorial still works (the menus are slightly different but you get the idea) and the original advice of “don’t be greedy” still applies. Don’t request very large increases (keep your limit under $25,000 and don’t make a large jump) and don’t request one too often – no more than once every six months. You should get an automatic increase, if all goes well, or a message that says you will be contacted for financial review (that’s bad).

Why would you want to request credit line increases? It reduces your credit utilization [5] and can mitigate some of the negative effects of canceling other credit cards [6].

Since my limit is above the $25,000 threshold, and mostly because I don’t need more credit, I haven’t bothered using it.