If you could not get a voluntary credit limit increase with U.S. Bank, you can make a request online through its online banking site or mobile app. You can improve your chances of getting an increase by ensuring your account is active for at least six months, having a personal credit score of at least 680, increasing your revenue, having a credit utilization ratio below 30%, and decreasing debts.
Requesting an increase will cause a lower credit score as it triggers a hard inquiry, but this can be small and temporary. In the long term, an increase can help improve your credit score.
1. Online Banking
Log in to your online account on usbank.com, then follow the instructions below:
- Select “My Account,” then “Choose an account” to select your chosen credit card.
- Go to the “Account services” tab, then select “Request credit limit increase.” If the credit limit request link isn’t displayed, call (800) 285-8585. U.S. Bank accepts relay calls.
- Provide the necessary information, then select “Continue to housing.”
- Answer the following questions, then hit “Review my request.”
- Check the box at the top if your account has multiple owners and shares the following address. U.S. Bank won’t ask for the other owners’ housing information if the box is checked.
- Ensure all information is correct, then select “Submit my request.”
2. Mobile App
After installing the U.S. Mobile App, follow these instructions:
- Open the main menu and select “Manage cards,” then choose the credit card for which you want a credit limit increase.
- Go to the “Account Services” tab and select “Request Credit Limit Increase.” If the credit limit request link isn’t displayed, call (800) 285-8585. U.S. Bank accepts relay calls.
- Provide the needed income and asset information, then select “Continue to housing.”
- Answer the following questions, then select “Review my request.”
- Check the box at the top if your account has multiple owners and shares the following address. U.S. Bank won’t ask for the other owners’ housing information if the box is checked.
- Check if all the information is correct and then click “Submit my request.”
How To Improve Your Chances of Getting a Credit Limit Increase With U.S. Bank
- Avoid credit card misuse: Paying your credit card bills on time and avoiding carrying a balance are some ways to use your credit card responsibly if you want to receive a U.S. Bank credit limit increase.
- Maintain a credit utilization ratio below 30%: The credit utilization ratio is an indicator of your credit usage, and ratios greater than 30% may illustrate overspending or that you don’t make large enough payments. You can calculate your ratio by dividing your total credit card balance by your total available credit or using a credit utilization calculator. Here are some ways to maintain a low credit utilization ratio:
- Avoid late payments
- Leave old credit card accounts open to avoid losing total available credit
- Make multiple credit card payments per month
- Create balance alerts through your account
- Keep your debt-to-income (DTI) ratio below 40%: The DTI ratio measures the percentage of your monthly debt obligations to your monthly gross income. The lower your DTI ratio, the more likely the U.S. Bank will approve a credit limit increase. Some of the best ways to maintain a low DTI ratio are:
- Pay off existing debt
- Avoid taking on more debt
- Negotiate a higher salary to increase your income
- Use a balance transfer credit card to lower interest rates
- Increase your revenue/income: The best time to request a credit limit increase is when you’re making more money, given that increasing revenue/income would mean managing your debt better. In this case, update your income proactively on the U.S. Bank’s website or mobile app.
- Keep your account active for at least six months: U.S. Bank, along with most providers, typically requires you to have your account for at least six months before requesting a credit limit increase. If you need access to additional credit before then, it may be best to get a new credit card.
- Improve credit scores: U.S. Bank and other providers will evaluate your personal credit score when considering you for a credit limit increase. If your credit score increases, this usually shows you manage your debt obligations responsibly.
What To Do If You’re Denied a U.S. Bank Credit Line Increase
In case you’re denied a U.S. Bank credit line increase, resolve any specific denial issues, pay off more debt, review your credit report for errors, or apply for a new credit card through another provider:
- Understand why your request wasn’t approved: Credit card issuers will send or email a letter explaining the reason for the denial. Addressing these issues and following the steps above will help improve your chances of asking for another request later.
- Pay off debt obligations: Pay down any existing debt to improve your DTI ratio and credit utilization ratio. This will make approval more likely the next time you request an increase.
- Review your credit report for any errors: Consumers are entitled to one free personal credit report every year through the Annual Credit Report. Order your credit report and review it for any errors—and if you find errors, you can submit a dispute with your issuer.
- Apply for a new business credit card: Getting a new business credit card can either be from the current provider or a different one. Applying for a new card allows you to choose from other issuers that offer cards better suited to your spending. However, if U.S. Bank approves your application for its other cards, you have the flexibility to expand your banking relationship.
As a small business owner, you can apply for any of the best high-limit business credit cards, which are excellent options for businesses with monthly expenses up to $100,000. To qualify, most high-limit cards require that you have a personal credit score of at least 670. If your score is lower, a good alternative would be any of the leading fair credit business credit cards or top secured business credit cards.
If you don’t have a business credit history, you may opt to check our most recommended credit cards for new businesses with no credit history.
Frequently Asked Questions (FAQs)
U.S. Bank has branches located in the following states:
- Arizona
- Arkansas
- California
- Colorado
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Minnesota
- Missouri
- Montana
- Nebraska
- Nevada
- New Mexico
- North Dakota
- Ohio
- Oregon
- South Dakota
- Tennessee
- Utah
- Wisconsin
- Wyoming
There are several possible reasons why your credit limit increase request was declined. Some of these include:
- Constantly making late payments
- Getting low credit scores within the past six months
- Applying for a lot of credit cards
- Having insufficient income to meet the requirements
You may request a credit limit increase once every six months.
Below are the advantages and disadvantages of getting a new business credit card in case your credit limit request is denied:
| PROS | CONS |
|---|---|
| Helps build credit over time when you use it responsibly | May include high-interest rates, which can put you in debt |
| Protect purchases that are lost or damaged that were bought with your card | Could impact your credit scores as applying for a new card makes a hard pull |
| Helps you pay off your debt if the card that you have has a long 0% introductory period | |
Bottom Line
You can request a U.S. Bank credit limit increase through its online banking site or mobile app. Improve your chances of getting a credit limit increase by maintaining a good credit score, increasing revenue/income, avoiding credit card misuse, keeping your DTI ratio below 40%, and maintaining an active account for at least six months.
