How do you request an increase to your line of credit?

A consumer can request an increase to his line of credit by calling his credit card company or making the request online, according to U.S. News & World Report. There is a chance that a request for an increase could result in a hard credit inquiry and a lowered credit score.

A consumer who opts to request a credit limit increase online may have to provide his monthly housing costs and yearly income, notes U.S. News & World Report. While a cardholder can usually suggest a specific number for his credit increase, the credit card company may counteroffer with a limit based on a specific level of risk and any financial information the cardholder provides. A consumer should ask if a hard credit inquiry is required before deciding whether he wants to continue with the credit limit increase request.

A consumer might be granted a limited increase automatically if he keeps his credit limit low, states U.S. News & World Report. While credit card companies make a credit inquiry before automatically increasing a cardholder's limit, the inquiry is a soft one and doesn't affect the cardholder's credit score.

A cardholder can also transfer the balance from one credit card to another to free up some funds if the cards are from the same issuer, according to U.S. News & World Report. This can also be done by opening another credit card with the same company, but doing so can negatively impact the individual's credit score.