Can I increase my credit limit?

Yes, you can increase your credit limit in Washington. However, there are several laws in place that dictate the process by which you can do this. First, your credit card issuer must have the ability to increase your credit limit and must have a reasonable basis to believe that you will be able to make payments on any increase in balance. Next, the creditor must provide you with a written notice of the amount of the proposed increase and any associated fees before the change is effective. You must also be informed of your right to reject the increase, and you may do so at any time. Finally, creditors are not allowed to increase a consumer’s credit limit more than 50 percent in a given period of time. If a creditor wants to increase a consumer’s credit limit more than 50 percent, they must have a reasonable basis to believe that the consumer will be able to pay off any increase in the balance. In summary, you can increase your credit limit in Washington, but it is subject to certain laws. You must be informed of your right to reject the increase, and creditors cannot increase your credit limit more than 50 percent in a given period of time. Be sure to read all of the documents you receive from your creditor before agreeing to any increase in your credit limit.

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Can I increase my credit limit?

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