Credit Card Limit: How Much You Can Spend?

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Consequently, users can restore their available credit limit to its initial value by repaying their credit card bills within the billing cycle. However, to increase one’s credit card limit cardholders have to follow some ways.

Ways to increase credit card limit

An increase in the card’s limit would increase cardholders’ purchasing power and would allow them to make essential transactions with greater ease. Consequently, by following these steps, cardholders can increase credit card limits significantly –

Frequent transactions and timely payment

Frequent credit card transactions help to build a credit history. Eventually, repaying them on time would lay a positive impact on the same. Maintaining a positive record will act in favour of cardholders and would enhance their scope of increasing their respective credit card limit and avail beneficial features on feature-rich cards offered by top financers.

Apply for a new card

One of the most effective tips to increase credit card limit and make higher spending is to apply for a new card with a higher limit. This way, they would not only increase their purchasing power but would also be able to improve their credit score subsequently.

Approach top credit card providers

Financers like Bajaj Finserv automatically offer individuals with above-par credit card limit if they have a healthy credit score around or above 750. They further extend pre-approved offers on financial products like credit cards, business loans, home loans, loans against the property, personal loans, etc. Check your pre-approved offer by offering details like name and contact information. Regardless, cardholders must make it a point to figure out the circumstances under which they are entitled to request an increase in their credit limit. For example –
  • The account in question has been open for over 3 months.
  • It is an unsecured credit account.
  • The limit has not undergone an increase or decrease in the last 6 months.
Therefore, by following these steps, individuals would be deemed eligible to extend their credit limit. However, the ultimate decision rests with the credit card issuer. Hence, in the event, they fail to extend their card limit; they can learn how to redeem their credit card reward points and manage their additional transactions accordingly.