Do you shop online often? Or, do you wish to purchase a nice electrical good for your home? If so, for individuals who want to purchase on finance, increasing your credit limit might be the only way to make this purchase. But, how do you go about increasing your score?

These are a few ways in which your score might increase with a credit lender.

1. Auto increases –
Periodically certain lenders will automatically increase your limit amount. This is determined by your history with the lender. If you pay on time, always pay over the minimum due, keep a low balance, and don’t have delinquent accounts, when these auto increase periods come up, you are more than likely to see a limit increase. As your credit score increases, the limit increase amounts will go up over time as well.

2. Ask for it –
Sometimes you just have to request it by phone or online. Remember, again your credit history will play into this decision. If you have a solid credit score, always pay your account on time, pay over the limit due each month, and don’t carry a high balance, many creditors will increase your limit. You will be asked about monthly income, if you are a dual or single income household, questions about your bills and expenses, and so forth if you are requesting the increase. Although they aren’t always approved, some lenders are more lenient than others.

3. Transfer –
This is more tedious and can potentially increase your credit score negatively but it is an option. As long as both credit cards are from the same lender, many lenders allow borrowers to transfer the balance from one card to the other. So, if you have two cards, you can sometimes combine the total limit, in an attempt to raise your limit.

The third should be the last resort if you require a higher credit limit. But, keeping your credit score high, making payments on time, keeping a low balance, and always paying your bill on time, all bode well for receiving a credit limit increase via the first two methods with most credit card companies.

Other finance options include using online catalogues such as Littlewoods. With these, your credit limit will usually start off low and continue to increase as you make regular on-time repayments.