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Your Ultimate Guide to Increasing Your Student Credit Card Limit

Published October 18, 2024

7 min read

Table of contents

Tips for requesting a credit limit increase as a student

What to do if you’re denied a credit limit increase

Responsibilities of increased credit limits

Check list: steps to request a credit limit increase

Key Points:

A credit limit increase on a student credit card is easier to get when you’ve had an increase in your income.
Keeping an eye on your credit report can give insight into your approval odds.
Credit card companies evaluate customers based on their credit worthiness before offering a credit line increase.

What does a credit limit mean on a credit card? Why is a credit limit important for a student credit cardholder?

A credit limit is the maximum amount of money you can spend on a credit card—in other words, how much credit the card issuer will loan you. Your limit is set when you’re approved for your card.

Typically, the credit card limit for a college student is lower than on a standard credit card. The lower limit accounts for the smaller incomes students usually have and gives students time to learn how to manage debt responsibly.

If you reach your credit limit, you won’t be able to make more purchases on your credit card until you’ve paid off some (or all) of your balance. If you have a lower credit limit than the amount that you feel you need to make the most of your student credit card, you might be a candidate for a credit line increase.

A credit limit increase as a student can help you budget for planned and unplanned expenses while showing you’re responsible in managing your finances.

Tips for requesting a credit limit increase as a student

You might think that because you already have an active account it will be easier to get a credit increase. However, your credit card company uses many of the same factors to decide on a credit increase as when you originally applied. This is because you’re asking them to lend you more money.

So, just like when you first applied for your student credit card, the card issuer wants to know how likely (and capable) you are to repay the money they lend you. Your credit card company may use your income, usage behavior (age of account, spending, and payments), and credit score, among other things. So how can you set yourself up for a credit limit increase as a student?

How to prepare for a credit line increase request

First, you’ll want to show that you have the means to avoid credit card debt and pay off your balance, so it’s important to report your current income in your credit card profile.

Next, it's a good idea to check your credit report and credit score for any obstacles you might encounter. Checking your own credit history won’t hurt your credit score because that triggers a soft credit inquiry (like when you pre-qualify for a credit card). Hard inquiries, on the other hand, happen when you apply for a new credit card, request a credit increase, or apply for a personal loan. Hard inquiries may affect your credit score.

Things that come into play when seeking a higher credit limit on your student credit card are:

Payment history: Do you pay your bills on time? Payment history is the most significant factor in determining your credit score. Don’t miss payment due dates on your student card and other loans in your name.
Credit utilization: How much of your available credit are you using? Experts recommend using as little as possible of your available credit. If you can, pay down your other credit accounts before asking for an increase.
Credit history: How long have you had credit accounts open? If you’re new to credit, you might need to wait until you’ve established a history longer than six months before asking for an increase.
Mix of credit: What types of credit do you use? Lenders like to see a mix of different types of credit, such as credit cards and personal loans.
New credit: How often are you applying for new credit? Too many inquiries in a short amount of time can be a concern to lenders.

Did you know?

If you’re a Discover^® Cardmember, you can get your free Credit Scorecard with your FICO^® Credit Score, and more. Viewing your Credit Scorecard will never impact your FICO^® Score.¹

How to report varied income

As mentioned above, your income helps card issuers determine your ability to pay your debts on time. Student cards take into consideration the unique financial situations students have—even students with no income.

The types of income you can include in your request for a higher credit limit include:

Income from a job
Financial support from a parent or other source
Household income

Student loans
Scholarships and grants
Income from a cosigner

Is there a good time for a credit limit increase request?

You’re already a cardmember, so you might think there’s a guarantee you’ll get a credit line increase when you need one. But, just like when to apply for a credit card, there are times when your odds are lower. The “right time” will be different for everyone.

Your student card likely needs to be open and active for a certain period before you’re allowed to ask for an increase. Discover^® student credit cards, for example, the minimum is six months. This lets you demonstrate your account management behavior and establish a credit history if you didn’t have one before.

Have you maxed out your card? It may seem like a credit limit increase will solve your problem when you’ve reached your credit limit and have no more available credit to spend. But that’s one of the worst times to request a credit line increase. High credit utilization (or credit card debt) can lower your credit score and indicate a less reliable customer. Similarly, if you’ve recently applied for other loans or credit accounts, this will lead to less favorable approval odds.

Can you request a specific credit limit on your credit card when applying for an increase?

No, you can’t request a specific amount of additional credit when you apply for a higher credit line. Whether you request it or whether the credit card company gives it to you proactively, the amount of the additional credit and your total credit line is determined by the card issuer.

Discover^® Card periodically reviews Cardmember accounts. We may proactively extend a credit limit increase when you qualify. This is a great reason to self-report your income with any changes.

What to do if you’re denied a credit limit increase

If your credit card company denies your request for a credit line increase, you can review the credit card issuer’s reasons for their decision.

Because of the Fair Credit Reporting Act, a lender must send you the reasons for any unfavorable decisions on your account. This is called an adverse action letter, and if you address the reasons provided in the letter you may improve your future approval odds.

Build a stronger credit profile

To build or rebuild your credit, you can start by addressing the five core categories influencing your credit report and score: payment history, amounts owed, length of credit history, new credit, and credit mix. Each weighs differently on your score, with payment history and amounts owed accounting for about 65% of your total credit score.

Responsibilities of increased credit limits

It’s a surprisingly good feeling when you get approval for a higher credit limit on your student credit card. It’s proof that you’ve put in the work as a responsible borrower. So now what do you do with this new limit?

It’s valuable to keep your credit usage low. Paying more than the minimum payment (or paying off your balance) each month can go a long way in your credit utilization ratio. Low balances also mean you’ll have credit available should you have an emergency.

Check list: steps to request a credit limit increase

☑ Check your terms and conditions for any account requirements needed to ask for an increase, like how long your account has been open.

☑ Make sure your credit card profile is up to date.

Current income
Address
Contact and other personal information

☑ Check your credit report for any negative or inaccurate information that could hurt your chances of approval (high credit utilization ratio, late payments, etc.)

☑ Initiate a credit line increase request through your credit card account online portal, through your mobile app, or by calling the customer service number on the back of your card.

Note that your credit card company may require a hard credit inquiry to evaluate your request.

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