Wells Fargo does not publicly disclose its maximum credit limits. If you accept the initial Wells Fargo credit limit offer, you can request an increase in your credit limit after at least six months of timely payments. Also, after six months, Wells Fargo may review your account for an automatic increase.
Automatic credit limit increases
In some cases, Wells Fargo might automatically increase your credit limit without you having to request one. If you demonstrate a good payment history and are a reliable customer, the issuer will occasionally award you with more credit.
Wells Fargo determines your initial credit limit based on your credit score, so if your credit score is higher now than when you initially applied for your Wells Fargo credit card, then there's a good chance you may qualify for a higher limit.
How often will Wells Fargo increase your credit limit? Wells Fargo won't increase your credit line before six months of card membership. After that, give it at least six months before you request another credit limit increase.
Previously, a Wells Fargo spokesperson said the bank's decision to close personal lines of credit came down to simplifying its product offerings in order to "better meet the borrowing needs of our customers through credit card and personal loan products."
Wells Fargo credit card limits range from $500 for the Wells Fargo Cash Back College℠ Card to $5,000 for the Wells Fargo Visa Signature® Card, at a minimum. Other Wells Fargo cards fall somewhere in the middle.
To request to increase or decrease your card's daily dollar limits, contact us and we'll check on eligibility. To make the request, call the number on the back of your card, or talk to a banker at a Wells Fargo branch.
You can request a credit line increase every 4-6 months, or even more frequently. But your chances of being approved for an increase are best if you wait at least 6 months from when you opened your account or last requested a higher limit.
A good guideline is the 30% rule: Use no more than 30% of your credit limit to keep your debt-to-credit ratio strong. Staying under 10% is even better. In a real-life budget, the 30% rule works like this: If you have a card with a $1,000 credit limit, it's best not to have more than a $300 balance at any time.
Increasing a credit card limit lowers your credit utilization ratio, which boosts your credit score. It can be a better choice than taking out a new credit card, which shortens your credit history and decreases your credit score.
Yes a $10,000 credit limit is good for a credit card. Most credit card offers have much lower minimum credit limits than that, since $10,000 credit limits are generally for people with excellent credit scores and high income.
Requesting a credit limit increase can hurt your score, but only in the short term. If you ask for a higher credit limit, most issuers will do a hard “pull,” or “hard inquiry,” of your credit history. A hard inquiry will temporarily lower your credit score.
Although a credit limit increase is generally good for your credit, requesting one could temporarily ding your score. That's because credit card issuers will sometimes perform a hard pull on your credit to verify you meet their standards for the higher limit.
As a rule of thumb, it's a good idea to use less than 30% of your limit — the lower, the better. Keeping that number down can be easier with a higher limit.
You can get a Wells Fargo credit limit increase by calling customer service at (800) 642-4720. There is no option to request a Wells Fargo credit limit increase online. It's best to not make a request until you've had your card for at least 6 months, and only if you've paid your bill on time every month.
It's not typical for a credit card to have a $3,000 minimum credit limit, even when it comes to good credit. For example, cards like Citi® Double Cash Card – 18 month BT offer offer starting credit limits as low as $500. However, that's just the lowest amount you're guaranteed if approved.
In general, you could get approved for a credit card with a $20,000 limit if you have excellent credit, a lot of income, and very little debt. But there are no credit cards with $20,000 limits guaranteed as a minimum.
In general, we don't change an account's credit line more often than every 6 months, but that can vary based on account. Please wait several months after your last credit line change before requesting a credit line increase.
Do Card Issuers Increase Your Credit Limit Automatically? Credit card issuers may review your credit file and account every six to 12 months and may offer you a credit line increase when they do.
Once you open your Wells Fargo checking account and get a debit card, the maximum daily withdrawal limit is $1500 and the daily ATM withdrawal limit is $300.
Some reviewers reported higher limits and lower scores, such as the person with a 662 score and a $15,000 limit. But we've also seen higher limits, in the $30,000 to $50,000 range. The minimum credit limit should be $5,000 because this is a Visa Signature® card.