If you have a credit card, you likely have a credit card limit, and though a limit can be beneficial – helping users keep their spending in check – sometimes it can hinder your financial needs. An increased credit limit, when utilized responsibly, can give you that extra spending flexibility, and in some cases, it can even help boost your credit.
If you’re wondering how to request a credit limit increase, it’s important to know that the process varies from company to company. If you have a Citizens Bank credit card and want to request a credit limit increase, you’ll be able to do so following a few easy steps.
On this page:
- How to Request a Credit Limit Increase on Your Citizens Bank Card
- Why Request a Credit Limit Increase
- When to Avoid Requesting a Credit Limit Increase
How to Request a Credit Limit Increase on Your Citizens Bank Credit Card
The only way to request a credit increase with Citizens Bank is by phone; they do not offer online requests. If you need guidance through this process, you can also stop into your local Citizens Bank branch, where an employee can help you through the process.
Before you decide to request a credit limit increase, it’s important to note that Citizens Bank does run a hard inquiry on your credit report, which can negatively impact your credit score. This is particularly true if you have recently applied for credit cards or credit limit increases with other companies.
To request a Citizens Bank credit limit increase, follow these steps:
- Call the Citizens Banks Credit Card Services line at 1-800-684-2222, and when prompted, press “1” for account information.
- Enter your 16-digit credit card number and complete the automated authentication process. If you do not have your credit number, you may be able to authenticate by entering your Social Security number; however, please note that you will be required to provide one of these numbers in order to move forward with a credit limit increase request.
- Once you’ve authenticated through the automated system, you will be placed in a queue until the next representative becomes available.
- Inform the representative that you would like to request a credit limit increase.
- In order to begin the application, the representative will need to ask a series of questions regarding basic verification information; this may include your name, address, credit card number, Social Security number, etc.
- Additionally, you will also be required to provide information about your finances, specifically your income and monthly housing expenses.
- Upon providing the answers to these questions, the representative will submit your application, and, unless you have further issues to discuss, the call will come to an end. Decisions are not immediate.
Credit limit requests are processed within seven to ten days and communication of a decision is sent out via mail; however, customers can also contact the Citizens Bank Credit Card Service department via phone within the seven-to-ten-day window to inquire about their application.
If approved, you will receive a letter alerting you to this decision as well as your new credit limit. If denied, you will receive an explanation from customer service about why you were denied.
Why Request a Credit Limit Increase
There are a variety of reasons why it may be beneficial to request a credit limit increase.
By increasing your limit, you also increase your buying power, meaning you can spend more as needed. This may mean you can make a large purchase (e.g. appliances, travel expenses, etc.) while also taking advantage of your card’s rewards program which could help you earn more cash back or other points.
In addition, if you increase your credit limit, you will decrease your credit utilization ratio, assuming that your spending remains the same. If you are using over 30 percent of your credit limit, your credit score may take a hit. By increasing your limit while spending the same amount, however, you will reduce your ratio, possibly helping your credit score.
When to Avoid Requesting a Credit Limit Increase
However, there are times when it may not be wise to request a credit limit increase, and when possible, consumers should avoid increasing their credit limit if they are struggling to make existing payments.
If you’re already managing a significant credit card balance, increasing your credit limit may lead to more spending, which will increase your credit utilization percentage and make it more difficult to pay down existing debt. This can increase the overall cost of your credit as well as your credit utilization percentage, which can negatively impact your credit score.
If you’re a Citizens Bank credit card customer, requesting a credit limit increase is easy, though it can only be done via phone. Additionally, keep in mind that a limit request through this bank will result in a hard inquiry on your credit which can damage your score. Finally, before you request a credit limit, it’s important to evaluate your current finances and the reason for your request.