Credit Limit Increase

How Do I Get a Credit Limit Increase?

At Mission Lane, we’re committed to helping you on your path to financial progress. Part of that journey involves monitoring your account to see if you’re eligible for a higher credit limit.

Can I request a credit limit increase?

To keep things simple, requests for credit limit increases are not accepted. Instead, your account is automatically reviewed on a regular basis to see if you’re eligible for more credit. If you qualify, you’ll be notified immediately by email.

When will my account be reviewed?

Your first automatic evaluation will be 7 months after you become a customer. After that first review, your eligibility is checked regularly. To avoid overextending customers, a credit limit increase is generally only granted once every 8 months.

How do I qualify for an increase?

Several factors are considered to determine eligibility. Here are some factors that influence the decision:

Consistent On-Time Payments: Its key to maintain a track record of at least six consecutive on-time payments. Paying at least your minimum balance by the due date every month shows you’re managing your credit responsibly.
- Pro-tip: Paying more than the minimum can be a great way to demonstrate that you’re comfortably managing your current limit and could be ready for an increase.
Healthy Card Usage: Ideally, you’re using your card regularly, but not so much that you’re constantly hitting your limit. If your balance is always at $0, it may look like you don’t need more credit; if you’re always near or over your limit, it may signal that you’re stretched a bit thin.
Positive Credit Score: Your external credit scores, like FICO® or VantageScore®, are regularly monitored. As your scores grow, it’s a strong signal that you may be ready for more credit.

Why was I not eligible for an increase?

Common reasons why your account may not have received an increase include:

Account is too new: You haven’t hit that initial 7-month milestone yet.
Recent increase: You received a credit line increase within the last 8 months.
Account status: Your account fell into poor standing due to being:
- Past due for a payment within the last six months
- Over-limit
- Bankrupt
- Currently restricted
Credit score changes: Your FICO® or VantageScore® recently dipped.
Debt to income ratio: Your income doesn't currently support a higher limit when compared to your other monthly bill payments. Responsible lending practices require ensuring any increase is a safe fit for your budget.

To be considered for a future credit limit increase, your income and housing information needs to be fresh. Click here to update your income and mortgage or rent information. Learn more about why it’s important to update income here.