This article is part of a larger series on Best Small Business Credit Cards.
You can request a U.S. Bank credit limit increase online or by calling customer support. Alternatively, you can apply for a new credit card to increase your total available credit. Either way, you’ll typically need a personal credit score of at least 680, a credit utilization ratio below 30%, and a good payment history.
Often, the easiest way to get additional credit is to get a new credit card. Similar to requesting a credit limit increase, applying for a new card could have a short-term impact on your credit score. Through our Credit Card Marketplace, you can shop and compare the best credit cards on the market.
3 Ways to Request a U.S. Bank Credit Limit Increase
Typically, your credit card account needs to have been open for at least six months before you can increase your credit limit. You can request a U.S. Bank credit limit increase through your online account or by calling customer service. Alternatively, you can also apply for a new credit card to increase your overall credit instead of requesting an increase on an existing card.
1. Request a U.S. Bank Credit Limit Increase Online
If you want to request a U.S. Bank credit limit increase, it’s as easy as logging into your online banking account. U.S. Bank requires you to fill out a basic application, which includes your personal information, income, source of income, and monthly housing payment. If you’re a business owner, you’ll need to provide your business and personal information, income, and monthly credit card expenses.
To request a credit limit increase with U.S. Bank online:
- Log in to your online account
- Select the “Customer Service” tab
- Click “Self Service”
- Click “Manage Your Account” under the credit card section
- Click the link for “Credit Limit Increase”
- Enter your income, source of income, and monthly housing payment
When U.S. Bank is determining your new credit limit, it takes into account your level of debt compared to your financial resources. U.S. Bank also looks at a variety of factors that make up your overall credit profile, including your payment history with U.S. Bank, reported income, and credit reports and scores.
2. Request a U.S. Bank Credit Limit Increase By Phone
You can also request a U.S. Bank credit limit increase by calling cardmember service with the number on the back of your card or by dialing 800-285-8585. U.S. Bank customer support will also likely ask for your personal information, income, source of income, and monthly housing payment.
If you have a Visa Signature®, World MasterCard® or a FlexPerks® Travel Rewards American Express® Card, you don’t have a traditional credit limit and will need to call customer support to increase your credit line. Additionally, if you have a U.S. Bank secured credit card then you must submit a written request with a cashier’s check or money order payable to cardmember service.
3. Apply for a New U.S. Bank Card
Alternatively, you can also choose to apply for a new U.S. Bank credit card to get additional credit instead of requesting a U.S. Bank credit limit increase. Moreover, you also have the flexibility to apply for a credit card through another issuer. Applying for a new card altogether gives you the chance to find a card that offers better terms and higher limits.
Apply for a High Credit Limit Business Credit Card
If you’re a small business owner, you can also choose to apply for a high limit business credit card. These types of business credit cards are great for putting large purchases and daily expenses on one card. Additionally, some of the best high limit credit cards also offer introductory bonuses and ongoing rewards. We recommend having a personal credit score of at least 670 to get a business credit card.
If you can afford to pay off your entire balance monthly, a business charge card would be another excellent card option. Business charge cards are required to be paid off in full every month and usually have no preset spending limit. This means you won’t have to worry about reaching your limit when making large business-related purchases.
Tips for Qualifying for a U.S. Bank Credit Limit Increase
If you’re getting ready to request a U.S. Bank credit limit increase, it’s crucial to follow some common credit limit increase tips. You should avoid misusing your credit card, maintain a credit utilization ratio below 30%, and keep your debt-to-income ratio below 40%. Additionally, it’s vital to know your credit score and check it often.
Avoid Misusing Your Credit Card
It’s especially important to use your credit card responsibly if you want to receive a U.S. Bank credit limit increase. Credit card providers, such as U.S. Bank, evaluate your credit card usage when considering increasing your limit. The issuer will more likely approve you if you manage your debt responsibly and have a good personal credit history.
Some of the best credit card usage practices are:
- Pay your credit card bills on time
- Avoid carrying a balance
- Keep your credit utilization ratio below 30%
By following responsible credit card practices, you can increase your chances of qualifying for a U.S. Bank credit line increase. Additionally, these practices can also help you maintain a good personal credit score.
Maintain a Credit Utilization Ratio Below 30%
Providers, such as U.S. Bank, typically look at your credit utilization ratio to evaluate how much of your total available credit you’re using. You can calculate your ratio by dividing your total credit card balance by your total available credit or use a credit utilization calculator. Ideally, it’s best to maintain a credit utilization ratio below 30% and greater than 0%.
Some of the best ways to maintain a low credit utilization ratio are:
- 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
Your credit utilization ratio will decrease if you’re approved for a U.S. Bank credit line increase or a new credit card. It’s always a good idea to keep your credit utilization below 30% even if you’re not requesting a credit limit increase. Your credit utilization is one of the key factors in calculating your credit score.
Keep Your Debt-to-income Ratio Below 40%
U.S. Bank and other credit issuers may look at your debt-to-income (DTI) ratio to confirm that you will be able to afford to pay a higher credit card bill. Your DTI ratio is a measure of the percentage of your monthly debt obligations to your monthly gross income. Typically, banks and credit issuers like to see DTI ratios below 40%. The lower your DTI ratio, the more likely 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
Paying down existing debt can be difficult if you’re also accruing interest. However, balance transfer credit cards provide an interest-free financing period that can help you pay off your balance. The best balance transfer credit cards offer an introductory no-interest period on balance transfers for up to 12 months. Because you won’t have to keep up with interest for that interest-free period, you can pay your balance off quicker.
Know Your Credit Standing
One of the best ways to receive a U.S. Bank credit line increase is by maintaining a good to excellent personal credit score of at least 680. Credit card providers are more likely to approve a credit limit increase if you’re in good credit standing. Personal credit scores range from 300 to 850 and FICO’s business LiquidCredit score ranges from 0 to 300.
When you check your own credit score, it will only count a soft credit check. Soft credit checks don’t impact your credit score and are never visible to other creditors. Conversely, hard credit checks usually ding your credit score by one to five points. Check your credit scores once every quarter because they frequently change based on your recent payment history, DTI ratio, and credit utilization ratio.
How to Check Personal and Business Credit Scores
You can check your personal credit score online through a handful of credit card issuers without having to pay a fee. If you also are self-employed or own a business, you should check both your personal and business credit scores. Often, these scores may be tied together. You can check your business credit score for free through Nav.
If you’re checking your personal credit score, you will need to provide your name, address, date of birth, and Social Security number. If you’re also checking your business credit score, you will be required to provide your personal information, name of your company, business address, and employee identification number (EIN).
When You Should Request a U.S. Bank Credit Line Increase
U.S. Bank and other credit card providers require you to have an active account for at least six months before requesting a credit limit increase. Additionally, it’s best to request a U.S. Bank credit line increase when you earn a higher income, your rent or mortgage decreases, and when your credit scores increase.
You should request a credit line increase with U.S. Bank:
- After you’ve had your account for 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.
- When your monthly income has increased: If you’re bringing in more money, you may be able to afford to pay a higher credit card bill every month. The best time to increase your credit limit is when you’ve started to bring in a higher income.
- If your rent or mortgage decreases: If your monthly housing payment decreases, this will reduce your debt-to-income (DTI) ratio. Typically, a lower DTI shows you can take on more debt obligations, including a credit limit increase.
- When your credit score increases: 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.
Before requesting a U.S. Bank credit line increase, make sure you can handle taking on more debt. That means being able to pay a large balance down and avoid overspending now that you have a higher credit limit. If you own a business, you should consider these situations and also evaluate your working capital before requesting a credit limit increase.
When Business Owners Should Request a U.S. Bank Credit Line Increase
Before requesting a U.S. Bank credit line increase, business owners should evaluate their specific business situation. Business owners should request a credit limit increase when they have inventory growth, increased revenue, increased time in business, and when their credit scores have increased.
Alternatively, business owners can also apply for a high limit business credit card. These cards are best for businesses with monthly credit card expenses between $15,000 and $100,000. You can shop and compare the best business charge cards in our Credit Card Marketplace.
What to Do If You’re Denied a U.S. Bank Credit Line Increase
If you’re denied a U.S. Bank credit line increase, you should 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.
Some actions you can take if your credit limit increase request is denied are:
- Resolve any issues in your denial letter: If you’re denied a credit limit increase, you will receive a denial letter in the mail usually between seven to 10 days. It’s important to review this letter and resolve any denial issues.
- Pay off debt obligations: Pay down any existing debt to improve your DTI ratio and credit utilization ratio. This will make an 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 Annual Credit Report. Order your credit report and review it for any errors. If you find errors, you can submit a dispute with your issuer.
- Get a new credit card: If you want a new credit card altogether, you have the flexibility of applying through your current provider or choosing a new provider.
If you’re denied a credit limit increase, that doesn’t mean you’re totally out of luck. By following these actions, you can prepare and set yourself up for a future credit limit increase request.
How a U.S. Bank Credit Limit Increase Impacts Credit Scores
Increasing your credit limit with U.S. Bank can lower your credit utilization ratio and improve your credit score. Typically, U.S. Bank will run a hard credit check, which may temporarily drop your credit score between one to five points. However, hard credit inquiries won’t negatively impact business credit scores.
Personal Credit Score
Besides your payment history, your credit utilization ratio is the second most important factor that makes up your credit score. Your overall credit utilization ratio will decrease after a credit limit increase. Typically, this will have a positive impact on your credit score, and you will see it increase.
However, U.S. Bank may run a hard credit check, which can ding your credit score by one to five points. Hard credit inquiries only impact your credit score for one year but will be visible by other creditors on your credit report for two years.
Business Credit Score
Much like personal credit scores, you can improve your business credit score by increasing your business credit card limit and reducing your credit utilization ratio. Compared to personal credit scores, hard credit inquiries don’t impact business credit scores. Anyone can pull your business credit report if they have your business’s name and address. With that being said, hard credit inquiries generally don’t hurt your credit score because it’s easier for someone to run your credit.
Frequently Asked Questions (FAQs) About U.S. Bank Credit Limit Increases
We covered a lot of steps on how to request a U.S. Bank credit limit increase. Some questions are asked more often than others, and we address those here.
How do I request a credit limit increase with U.S. Bank?
You can request a credit limit increase with U.S. Bank by logging into your online banking account or over the phone. U.S. Bank will require you to submit an application including your personal information, income, source of income, and estimated monthly housing payment. If your request is approved, your limit will reflect on your account.
Does U.S. Bank automatically increase your credit limit?
U.S. Bank and other providers may review your account after six months and automatically increase your credit limit. If you don’t receive an automatic increase, you can request a credit limit increase online or by phone. You can also decrease your credit limit by calling U.S. Bank’s customer service phone number.
How can I get a higher credit limit?
To get a higher credit limit, choose one of the credit cards that you want to have the limit increased on. Most providers allow you to request your credit limit increase online. When you submit your request, your provider will review your credit standing to make sure you can handle taking on more debt obligations.
You can request U.S. Bank credit limit increase through your online account or by calling customer support. You’ll be required to provide your personal information, income, source of income, and monthly housing payment. Alternatively, you can also opt to apply for a new credit card with a higher limit.
If you’d rather apply for a credit card with a higher credit limit, visit our Credit Card Marketplace. You can shop and compare the best credit cards on the market and find a card with the most favorable terms.