Discover tips for staying within your credit limit to avoid fees, and, if it's the right option for you, find out how to request a credit limit increase.
A higher credit limit may offer greater flexibility and convenience to meet your financial needs. However, it may also increase your risk of taking on too much debt, which could be costly, or take a long time to pay off. So carefully consider the pros and cons.
If you’re looking to cover a large purchase, do the sums to confirm you can afford timely repayments before applying for an increase. Credit limit increases are subject to approval and therefore not guaranteed.
Increasing your limit in response to expense and repayment struggles will only really add to the issue:
· It could open you up to more debt.
· A high credit limit could prevent you from qualifying for important loans like mortgages. Potential lenders pay
attention to the amount of credit you already have access to.
You can request to change your credit limit at any time with American Express. If you’d like to request a credit limit increase (subject to approval), you can do this via your Online Account or by calling the number on the back of your Card.
Before you apply for an increase, consider your personal financial circumstances. We’ll need to assess your capacity to repay the higher limit before we approve it, looking into things such as your credit history, reports and income level.
From time to time we may offer to increase your credit limit if you meet certain criteria. To manage how we send you offers, or to opt out of these communications, log into your Online Account or call the number on the back of your Card.
If your existing limit is higher than you need it to be, you can request a credit limit decrease – as long as it remains above the minimum limit and your total balance owing.
Yes, you can apply for a credit limit increase at any time. Approval will be subject to our approval criteria.
Your highest lmiit will depend on your financial circumstances as well as the Credit Card you choose.
A Credit Card will have a set Credit limit. A Charge Card comes with no pre-set spending limit1, which means your spending limit can vary depending on a variety of factors . You’ll also be required to pay the full closing balance on your Charge card every month.
Be smart with your repayments
Make sure you know when your Credit Card repayments are due, and, if possible, pay off as much as you can to reduce interest.
Sign up for SMS and email alerts
Get informed instantly with text and email alerts. There’s a range of useful notifications to help you avoid paying additional fees. Choose when you’d like to receive your alerts and whether you’d prefer to be contacted on mobile or email. You can also place your alerts on hold when you travel, or change the time zone they arrive in.
Track your expenses
Log in to your Account regularly or download the Amex App to access your current statement and Account details.
As an American Express Cardmember, you get to enjoy travel benefits that take you further, points that are more rewarding, and services that open more doors around the world.
1. No pre-set spending limit. No pre-set spending limit does not mean unlimited spending. Your purchases are approved based on a variety of factors, including current spending patterns, your payment history, credit records, and financial resources known to us.