Does Apple Automatically Increase Your Credit Limit? Here’s What You Need To Know

When you have an Apple Card, your credit limit tells you how much you can spend. A higher limit gives you more buying power, while a lower limit limits how much you can spend.

So you may be wondering – does Apple automatically increase your credit limit over time? Or do you need to request an increase yourself?

In this article, we’ll explain how credit limit increases work with Apple Card, including:

• How Apple determines your initial credit limit
• What factors impact automatic credit limit increases
• When you might get an automatic increase
• How to request a higher limit yourself
• Tips to boost your chances of getting approved

Let’s dive in.

How Apple Calculates Your Initial Credit Limit

Goldman Sachs, the bank that gives out Apple Cards, sets your initial credit limit based on a number of factors when you apply for one for the first time:

• Your credit score – This gives an indication of your creditworthiness and repayment history.

• Your income – Higher incomes may qualify for larger limits.

• Your existing debt – Too much existing debt can lower your limit

• Your credit history – A longer positive history helps.

• Your utilization – High balances on other cards may restrict your Apple Card limit.

So your initial limit is based on an assessment of your overall credit health and ability to manage credit responsibly.

It’s not random or based on how much you want. The bank aims to approve a limit you can reasonably afford based on your profile.

What Factors Impact Automatic Credit Limit Increases?

Now, once you start using Apple Card, your actions and spending patterns determine if you’ll get automatic limit increases over time.

Here are the key factors Goldman Sachs considers:

• On-time payments – Making at least the minimum payment every month is essential. Missed or late payments will disqualify you from automatic increases.

• Credit utilization—using less than 10% of your available credit implies responsible credit use. Maxing out your card regularly will hurt your chances.

• Credit mix – Having different types of credit (mortgage, auto loan, cards, etc) improves your profile.

• Credit history length – A longer positive history with all accounts boosts your score.

• Hard inquiries – Too many applications for new credit can negatively impact your limit.

• FICO score changes – Improvement in your score reflects lower risk and may lead to higher limits.

The algorithm evaluates trends in all these areas over time to determine your eligibility for an automatic increase. Responsible card usage that demonstrates you can handle more credit is key.

When Might You Get an Automatic Credit Limit Increase?

Apple Card doesn’t publish the exact criteria or schedule for automatic increases. But based on what Goldman Sachs has shared, here are some general guidelines:

• Earliest eligibility – You need at least 6 months of card membership before qualifying for an automatic increase.

• Payment history – At least 3 months of consecutive on-time minimum payments seems to be a prerequisite.

• Frequency – For customers who qualify, automatic increases may happen once every 6-12 months.

• Credit usage – Keeping balances low yet using the card regularly helps.

Of course, these aren’t hard rules. It depends on your unique credit profile and the algorithm’s assessment of your risk level. But this gives a general idea of what to expect.

How To Request a Credit Limit Increase Yourself

You don’t have to wait for an automatic increase if you need a higher limit sooner. Apple Card lets you request more credit at any time.

Here are the steps to request an increase manually:

1. Open the Wallet app and select your Apple Card.

2. Tap on the “More” button, then “Account Details”.

3. Tap the Message icon in the top-right and type your request for a higher limit.

4. Hit send! Goldman Sachs will review your account and make a decision.

A few tips for getting approved:

• Wait at least 6 months since account opening or your last increase request.

• Keep card usage well below 30% of your current limit.

• Have consistent on-time payments with no missed payments.

• Maintain good standing on all credit accounts.

• Be patient – it can take up to 2 weeks to get a decision.

While not guaranteed, responsibly managing your account for 6+ months gives you the best shot at getting approved for an increase.

5 Tips to Boost Your Chances of a Credit Limit Increase

Here are some proven strategies to improve your odds of getting a higher Apple Card limit automatically or through a manual request:

1. Pay your bills on time. Set up autopay to make sure you never miss a payment. This is the #1 factor for increases.

2. Keep balances low – Letting balances exceed 30% of your limit will hurt.

3. Use your card regularly – Moderate monthly spending shows you can handle more credit.

4. Monitor your credit – Maintain good standing on all accounts to keep your score up.

5. Give it time – Wait at least 6 months between increase requests for the best results.

Good financial habits that demonstrate responsible credit management are key to earning a higher limit. Be patient, let your track record speak for itself, and your limit can gradually increase.

The Bottom Line

While Apple Card doesn’t guarantee automatic credit limit increases, maintaining excellent payment history and low utilization over 6+ months can qualify you for periodic bumps up in your limit.

You also have the option to request more credit yourself at any time. Approval depends on your overall responsible use of credit, not just Apple Card.

The best advice is to focus on building healthy long-term credit habits, not getting short-term increases. Responsible usage will be rewarded over time with higher limits to match your improving profile.

So be patient, make payments on time, keep balances low, and let your actions speak for themselves. With time and diligence, Apple Card will give you more spending power.

The maximum reported credit limit for an Apple Card is $40,000.