I would cancel my credit cards before I'd send copies of my financial records including tax returns to AMEX. I understand they have the right to ask and I certainly have the right to say no. IMO my credit report and employment verification should be sufficient. Anything beyond that is too intrusive.

2:11 American Express 2:29 Chase 2:56 CitiBank 3:58 Bank of America 4:12 Wells Fargo 4:17 US Bank 4:20 Capital One 4:26 Discover 5:02 Amex Watch the full video to learn about each and every one of these lenders. I recommend it.

I’m good !! Because I have two Capital One cards...their line increase is a soft inquiry.

Because Im a noob I just recently paid for more water... Sucks making mistakes and the not realizing the better option until after

2:11 American Express 2:27 Chase 2:32 Barclays 2:55 Citi bank 3:57 Bank of America 4:11 Wellsfargo 4:17 US Bank 4:20 Capital one 4:26 Discover 5:00 Amex (American Express) 5:38 one of the factors that leads to financial review

After watching this video I just tried doing discover credit limit and they give me $4000 credit limit increase without any hard inquiry

What isn't mentioned is that when you get a new card issued your credit length lowers which could lower your score. In my opinion, it might be worth getting the increase if you are potentially going to lose more points by adding a new card to your credit file.

Remember some chase cards are hybrid cards, they come with a credit access line. Not a credit limit.. you can charge more than the credit access line with out over the limit fees. The portion you charge over the credit access line must be paid in full every month. So credit limit increase is not needed. My chase sapphire preferred is like that.

I paused the video and as soon as you told me it was a soft pull I went and got my credit limit increased instantly after submitting the request Thank You great content and I liked and subscribed

If I was thirsty and I needed a drink of water I’m paying with my discover it card because I get cash back on restaurants

I’ve been binge-watching your videos. Great info!

These water analogies....I dunno 😁

I just randomly got a $2,500 CL increase on my CSP. IDK who spends that kind of money but it isn't me. I'll take it though.

I’m a little annoyed I have $7k on the preferred and $3k on the FU but was approved today for the freedom for only $1600.00

There IS a hazard of having more credit limit - at least at B of A, as I found out the hard way. They offered me a 2nd credit card, which I accepted, but they only gave me $3K, so I asked what I was supposed to do with that since I already had a $5K card with them. They offered to roll the two cards together for a $8K limit. Then a year later they offered another better card. OK, the last one wasn't good, but it DID increase my limit, so I accepted. BIG MISTAKE. They stole $3K from my $8K card to drop my $8K card down to $5K, THEN they reported a hard inquiry and that they had dropped my limit - which other banks could reasonably interpret that there was something wrong with me and my credit. My credit score dropped 50 points and my mailbox was no longer stuffed with credit card offers. Lesson: I pushed them early on to up my $5K card to $8K, which left a ticking time bomb just waiting for me to ask for anything else, whereupon they would drop it back to $5K where they wanted it - and destroy my credit in the process. From now on, I will be requesting NO increases - and just let the banks make up their own minds as to when to increase my limits - just to avoid such looming disasters.

Always had issues with my BoA card. All other issuers have me at a minimum of 5-7k credit limit. BoA will only give me 2.5k for whatever reason and has denied any limit increase I requested.

This is good info. I recently had a CL decrease by Amex and was basically told if I wanted the limit back I would have to do the financial review process but it was completely optional. They said that the account was in good standing and there was no reason for closure but this video helped inform me that the financial review is a lot more burdensome then they made it seem. Given that it is optional and I am not doing anything wrong (CLD for low activity) I may just not bother with it for the reasons listed in the pinned comment

This is that My Uber states for Barclays. To request a credit line increase, please complete this form and click ‘Continue'. This authorizes us to obtain a current credit report to review your credit information, employment history and any other information necessary to process this application. By obtaining your credit report in this way an inquiry will appear on your credit report which will be available by other creditors. This inquiry may have an impact on your credit score.

And that’s why I didn’t ask for a CL increase from $13.6k for my CSR but applied for and got a new CF with a $14.4k limit last Friday.

hey sebby can you talk about what to say to a creditor if they ask you why you want a higher limit.? knowing how to answer that question will greatly help your chances of not only just getting the increase but getting the increase that you want. my suggestion is that if you call to get an increase and they ask you how much of an increase that are you wanting don't give them an answer.! just simply ask them what's the best that they can do.? I say that because you don't want to say something like $2000 and you actually qualify for $5000.! unless that $2000 is all that you really want.! otherwise I would take the max even if your not going to actually use it.

I love your videos bro. Super helpful. Keep it up

The water example was really good

I had a Chase Amazon card for 5-years (2200) and paid down my balance, a letter was sent to me offering an increase of credit, two months later I called to inquire. The limit was increased 1,000 and I was in the process of applying for a Freedom Unlimited card. After resolving a problem with Equifax, I was approved for the new card with a credit line equal to may Amazon card. My experience is that Chase seems to be fair but does not issue high limits like other card issuers. I think Chase is just playing it safe to reduce their risk based upon your credit file. Chase also used inquires over the past three months and offered a higher APR than other cards recently obtained.

who has amex asked for tax returns, income, or bank statements for a credit increase?

So I requested a credit limit increase over the phone with BOA and the lady said it was going to be a soft inquiry so maybe that is something new.

I would only pay for more water if i was tied down to only drinking water and u had no choice but to drink water ...

So like buying a video game and having the option of buying dlc (credit limit increase) or buying a new game for the same price of the dlc (new credit card). Getting the DLC will only give you so much satisfaction. Whereas the new game will give you that initial addiction/satisfaction (sign up bonus) along with more variable playing time (different benefits) thus extending your playing time (more credit) and making things more interesting (more cash/points back). Got it!

i just got my credit increase from 1500 to 2500 with chase. Didn't ask, it just happened. After 6 months of perfect payments.

Maybe do a 2019 update?

I just got my amex increased from 5,000 to 15

Pay for water lol never . As soon as the bank says it's a hard inquiry I say nope I'm ok ! And you for got chase increase from 6 to a year

I cheated and increased(corrected) my income on chase and they gave me a new credit limit 😌 no pulls

No.. I wouldn't pay for more water, nice VIDEO!!

I have a Quicksilver with Capitol One, which I've had for about 5 months, and a Discover it Cashback Match card which I've had for about 3 months. I requested for CL increase with Cap One, and was denied because my average monthly payment was too low. since I pay off my balance in increments. Discover, on the other hand gave me an automatic $800 increase out of the blue last week. It is strange how each of their metrics work, and how they each determine what they will do. Thanks for the video! Great advice! Also Im glad that you mentioned that Cap One does a soft inquiry vs. hard, because I wasn't sure.

Capitol one says you may make a request anytime you like i deal with them trying get a raise 3rd try now hope its gonna happen

This video is superbly helpful. I just doubled my credit limit lol.

Great explanation really liked the water example you gaved.

Is it still a soft inquiry for Capital One?

Very informative video. It clears up a lot of the confusion that turned up in yesterday's video comment section.

Hey u should do a FYI for chase reserve card that they like to put your account on hold ..for a ten day periodically review and not tell u and u can't access the card !! And neither can customer service until the review is complete !!

Personally I would like a financial review. No one takes me seriously when I tell them how much I make. So I usually say I make less than half of what I make. It's annoying and the only place that believes me is my bank because they have access to my bank accounts.

I would not pay for more water!

I love your videos bro. Super helpful. Keep it up ! Thank you.

CapitalOne never seems to give out credit limit increases

You lost me at water...lol. Great video nonetheless.

I just saw that a credit reporting bureau added my spouse’s new credit card limit to my report even though I’m an authorized user, not a joint holder. Since her limit was added to mine, my utilization rate decreased I wonder if this will negatively impact my ability to obtain new credit? Could this be another way of increasing my score?

You have the best content!

Could you do a video on chase private client services? every time when I log in my online account, I see Chase ask about it.

Ok I have 2 credit cards wells forgo and capital one my score is 680 and my utilization 35% $3500 on one card and $2500 on the other when she I ask for a credit increase

You forgot to mention that a new card will bring your average age of credit down along with your score. This is one of the reasons some people only want increases. Depends on where people are at in their journey.

Sebby, I recall a video when you sort of explained this but could you go over the concept (maybe do a video) of decreasing your credit limits with regard to income. How much credit to income is too much for most credit cards? Could you also explain (especially for those with thin files) how other credit cards "see" your limits with regards to new applications; i.e. I've read elsewhere that some credit cards won't consider you unless you have a card with at least a $10,000 limit but having too many cards with $10,000 limits would seem to contradict your decreasing limit philosophy. I hope I'm making sense. Thanks in advance.

Planning to get an Amex Cash Everyday/Preferred Cash When Cap 1 Increase My Limit 705 in 7 months..

Well the water situation you mentioned is similar to one in Italy. 7 euros per bottle of water. No access to super markets for me in the area. The tap water was contaminated and I ended up spending 30 to 40 euros a day in just water. Not to mention how bad all there fees were. I wouldn't recommend visiting italy unless you have to like I did for work.

open more credit cards within 24months, it blocks you to apply for some good new credit cards.

Hey whats up this tool you mentioned at Discover I did nt find it they as for gross, assets, rent, and employer name. there was no option to enter the limit that I wanted wich would have been cool. On the othere hand they presented an acceptible limit that they would give me and I was able to slide the bar down if I did not want there maximum offer.

Thanks Sebby! I almost made this mistake, this video was very helpful!

No unless the water is really special and I’ve had enough of other drinks, so probably not.

It’s odd. I know it’s based off of income too. Not just credit score, but Amex just started me off with 2k on their Blue Cash Preferred card. BOA cash rewards was my initial secured card $500 limit. Asked for an increase a month ago after having the card for 3 years with a 730 credit score and they only raised it to $1500. I apply for one of USAAs credit cards and instantly got a $10,500 limit. No clue why that one was so high.

Interesting examples lol. You make it really to understand 👌

Discover, it is 🤝

Excellent! Thank you for the in depth information.

When I open the account The staff put a wrong ssn But I’m a f1 student without SSN Now my score only 635 Card limit 7000 Do I need to get a ssn? Annual income and output both 100k

No I don't want more water I'll take a beer instead

Where do you find that discover tool?

@asksebby is this video still accurate 4 years later?

Lol at the water analogy. From my experience independently dining in Italy (Como, Firenze, and maybe Roma), just specifying "water" may get you a 5 or 6 EUR sparkling water. Could have ordered one or two lunch espressi or two scoops of gelato instead. Ouch.

Can i ask for a credit limit increase in 3 different credit cards at the same time ? Or at least a month later ?

Does anyone know If Discover does automatic increases or do you have to ask

What about Ollo for credit increase?

My combined Amex credit limit is $2500 between two cards, so I think I'm safe from a finantial review.

I have always wanted to know if you have no credit limit at Amex how does the credit companies know what your credit utilization is?

I have a question. I have a Platinum Amex (Applied) Cash magnet (Applied) 20k limit. One authorized user on it Blue everyday 5k limit (I'm an authorized user and did not apply) And a business card charge( I'm and authorized user and did not apply) Do cards you were added on count towards the financial review limit or not? I'm a trucker and away from home so just wondering if I should have documentation ready.

So to all my citi double cash back people ask for a increase and they don't do a hard inquiry or soft inquiry I asked. Went from 3000 to 4500. Only been with them for 3 months.

Great stuff, thank you for the info!!

What about capital 1?

Im 20 and i got approved for a $7000 spending limit about 6 months ago so im hoping they bring me up to $10,000 in the upcoming months

I love my water! 😊

Does anybody know if there is such a financial review trigger in the UK? I know when I pawned some gold a few times and the figures at the same pawn shop reached over 4 or 5 thousand pounds something called an anti-money laundering thing got triggered and I had to just take in a bank statement and passport, I’m sure this wasn’t it or was it?

I just recently upgraded the credit limit from my Amex from 6k to 15k. If I wait another 6 months, the maximum I can ask for is 25k to not trigger a financial review? I realize this is an older video so I'm not sure if this rule still applies. Thanks for the info.

My credit limit is 54,000. I been with BOA organically for 7 years and now starting to get into the churning world. I am starting with chase due to the 5/24 rule and currently at 3/24, but I am nervous to open my next card (CIP/CIC) because my income is roughly 75-100k. Amazon card (9/18 12k), CSR (12/19 35k), CF (12/27 17k). Will I get denied on my next app due to credit vs. income 50%?

thanks for your videos

The AMEX financial review. That was 30k limit collective between all cards or a single card limit of 30k and up?

Do Capital One Credit do hard inquiries for credit limit increases

Hi, when you say that AMEX will "shut down all your accounts" if you don't provide the financial review, you mean all AMEX accounts or all of your credit cards from all your banks??

I just got the quick silver one card wanted to know how would be best to get a limit increase would it be better to pay my balance off in full every month or leave a balance and pay over the minimum payment

Hey sebby, great channel addicted to your content. My question is I just payed off one of my cards. Should I still use it minimally like a debit card and pay it off every month or stop using it for a time being.

Capital one is hard to get a credit increase. It says pending for two weeks. I called and they told me to try again online. I tried again and it says pending again. Any help. Thank you. They won’t help me over the phone.

Navy FCU cli requests are hard inquiry.

I have over 30k total on both my amex cards, how long until they start the review?

Is there a hard inquiry for decreasing credit limit or reallocating credit limit?

I'm due for a credit limit increase for my capital one secure credit card question is which would a better decision increasing my secure credit card limit or asking to transfer my limit to a unsecured credit card? What would you do in this situation?

Do you know if US Bank also uses soft inquiries when graduating their secured card? I recently moved, and all the utility companies hit me for 5 hard inquiries, and I am therefore wary of more. Also, I am relieved that I am not alone in drinking out of canning jars!

Thanks

hey @asksebby, I have an AMEX through USAA. How different is that from having a straight up AMEX and applying for an increase in limit. Obviously, that goes through USAA right? Or can i contact AMEX?

On the Discover trick. Does one the that on their website or their app?

Hello Sebby how do you delete hard inquiries off your credit report ?

Has there been any changes to Amex's financial review? I have an EDB with $24k limit, Hilton Honors $10k, Delta Reserve $6k, as well as a PRG and Platinum. I have yet to see a financial review.

can I do a credit limit increase at chase and then sign up for a credit card and only get one hard inquiry?

I have a csp that I planned to ug in a couple months when a.f comes. From what I've been reading, you need to have a 10k limit for csr. Will I need to eat a hard pull now and request a limit increase to upgrade in Sept? Thanks for the vids sebby!

Would you know if the Apple Card is a hard pull when they increase your limit after a request?