Banks may reject limit increase requests based on their assessment, which takes into account information such as a person's economic/social situation and credit rating/score.
What can be done after a request is rejected?
A rejected request does not necessarily mean the customer's credit score is bad. The bank may also refuse because of its risk appetite at that time, portfolio targets or missing documents.
The customer can apply again by submitting a new proof of income or by improving their payment record for a while. Paying off high debts at other banks also has a positive effect on the assessment.
Since each application may create an inquiry record, it is better to avoid making many applications in a short period.
Preparations before applying
Preparing an up-to-date proof of income, reducing existing card debts and making payments on time before requesting a limit increase raise the chance of approval. Checking pre-approved limit offers in the bank's app is also a practical option.
