A higher credit limit is a good way to make more room for spending or lower your credit utilization. You can request a higher credit limit for standard credit cards from your credit account.
Eligibility for a higher credit limit
You can request an increase to your credit limit after your credit card has been open for 3 months. Eligibility for a higher credit limit depends on your payment history, account usage, and other factors related to your credit utilization.
After you’ve had a Neo credit card for at least 3 months, Neo will send you offers for a higher credit limit when you’re eligible.
Request a higher credit limit
Neo app
- Log in to the Neo app
In the Accounts tab, select your credit card
Tap the gear icon (in the top right corner)
- Select Manage credit limit
- Select Request increase
Web
- Log in to member.neofinancial.com
- Choose the credit account you want to increase the credit limit
- Click on the three dots in the top right corner
- Select Manage credit limit
- Select Request increase
After you request a higher credit limit from your credit account, we’ll review your eligibility and email you with the results. It may take a few weeks to review your request for a higher credit limit. Check your email for any updates.
Accepting a credit limit increase
If you have been approved for a credit limit increase, Neo will send you both an email and a notification in the Neo app.
- Select Claim offer in the email or tap the notification
- Tap Accept
Your credit limit will be raised as soon as you accept the increase.
Reasons to increase your credit limit
A higher credit limit can help lower your credit utilization and can give you more financial flexibility.
Lower your credit utilization
When you have a higher credit limit and don't spend much of it, you’ll have a lower credit utilization. Keeping your credit utilization below 30% across all of your credit cards is one of the ways to increase your credit score over time.
Improve your financial flexibility
Increasing your credit limit gives you more purchasing power by making more room for spending.
Impacts to your credit score
Your credit score won’t be impacted if you request a higher credit limit. Your credit history will be considered when we determine your eligibility for a credit limit increase, but there won’t be a hard credit check.
Increase the credit limit for secured credit cards
The credit limit for secured card cards is the amount of money you have set aside in the security fund. If you have a secured credit card, you can increase your credit limit by adding money to the security fund.
By making regular and on-time payments, you may be eligible for a higher credit limit without adding more security funds. We’ll let you know if you’re eligible!