Credit cards are important financial tools that offer convenience, security, and potential rewards for everyday purchases. However, a crucial aspect of responsible credit card use is maintaining a healthy credit limit, i.e., the maximum amount you can borrow on your card.
This article discusses everything you need to know about a credit card limit increase.
Understanding how credit card companies determine your credit limit and what they consider when you make an increase request is important before exploring the methods for credit limit enhancement.
Creditworthiness Assessment: Credit card issuers use a variety of factors when determining your creditworthiness, including your credit score, income, employment stability, debt-to-income ratio, and credit card history. A good credit score and solid credit management practice boost your chances of getting a limit increase.
Pre-approved Offers: Some card issuers regularly pre-approve current cardholders for limit hikes depending on their creditworthiness. Look for notifications in your online account, email, or even physical mail to determine if you qualify for such pre-approved offers.
Without beating around the bush, we will cover our top 7 strategies to increase your credit limit. Later, we will learn more about credit limits and other related factors!
Pay your credit card bills in full every month by the due date. This shows that you can manage credit properly and that you are a dependable borrower.
Aim to keep the credit utilization ratio below 30%. This displays your capacity to manage credit responsibly while also reducing the creditor's risk assessment.
As a rule of thumb, wait for 6 months! Show responsible usage during this time, pay your bills on time, and keep your CUR low. The longer your spotless history, the easier it will be for you to get a higher limit.
If you have had a recent raise in income or a salary hike, leverage that. As your financial status changes, you can request a limit increase to match your new lifestyle. To prove your new income, you can submit your Form16, ITR, or your salary slips.
When you apply for a credit limit increase, the bank will focus on your debt-to-income ratio. So if your income has not increased but your obligations have reduced, you will still qualify for a credit limit increase.
If your current issuer refuses to raise your limit, consider applying for a new card from a different issuer with a greater limit. However, ensure you're approved for the new card before shutting your current one, as closing accounts might harm your credit score.
You may also consider applying for a joint card with your family member. Both your credit histories combined will boost card limits, given you both have good financial behaviour.
The simplest approach is to contact your card issuer directly via their customer service number or online chat support. Explain your request for an increase, mentioning your good credit history alongside suitable credit utilization.
However, this will be considered a hard inquiry and might affect your credit score temporarily.
Yes, it is a good idea to have a high credit limit and use it sparingly. That keeps your credit utilisation ratio under the recommended 30%.
Remember that increasing your credit limit if you get a pre-approved offer is better for you. This is because manual requests trigger a hard inquiry or a hard pull, which causes a temporary (5-10 points) dip in your credit score. Whereas a pre-approved offer results in a soft inquiry, which has no impact on your credit score.
Understanding how credit card companies determine your credit limit and what they consider when you make an increase request is important before exploring the methods for credit limit enhancement.
Credit card issuers use a variety of factors when determining your creditworthiness, including your credit score, income, employment stability, debt-to-income ratio, and credit card history. A good credit score and solid credit management practice boost your chances of getting a limit increase.
Some card issuers regularly pre-approve current cardholders for limit hikes depending on their creditworthiness. Look for notifications in your online account, email, or even physical mail to determine if you qualify for such pre-approved offers. If you increase your credit limit via a pre-approved offer, there will be no temporary dip in your credit score.
How to Check Your Credit Limit?
Banks offer different ways to check your credit limit. Here they are:
To check your credit limit online:
Step 1: First, visit your bank’s website and log in to the internet banking portal.
Step 2: Navigate to the credit cards section.
Step 3: You will be able to see your total credit limit, available credit limit, and cash advance limit.
Install your bank’s mobile banking app and follow these steps:
Step 1: Log in using your banking credentials.
Step 2: Go to the credit card section.
Step 3: Your credit limit will be displayed.
Your credit card statement is sent to you every month via email. Open the statement to find your total credit limit, available credit limit, and cash advance limit.
You can call the customer service of your credit card or bank and ask for your credit limit. You can find the customer care number on your bank’s website.
Types of Credit Limits
Before we dive in, let’s look at the different types of credit limits that you will come across:
Total credit limit: Your total credit limit is the maximum amount of money you can spend using your credit card.
Available credit limit: The available credit limit is the current balance available on your credit card after your expenditure.
Cash advance limit: The cash advance limit is a portion of your total credit limit that you can withdraw from using an ATM. Cash advance limit is usually 20% to 40% of your total credit limit.
Banks offer various ways to increase a credit card limit. Here are some ways to increase your credit limit according to banks:
Online Banking Method -
Step 1: Log in to sbicard.com and click on the ‘EMI & More’ tab on the left-hand side
Step 2: Check for any Credit Limit Increase offer on your account and click on the ‘Submit’ button
SMS Banking Method -
SMS ‘INCR XXXX’ (last 4 digits of your card number) to 5676791 from your registered mobile number
Customer Care Method -
Call on SBI Card helpline number at 18601801290 or 39020202 (prefix STD code)
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Income Proof Documents Required:
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Direct Link -
Go to the HDFC credit card limit enhancement page. Enter the details and click submit.
Net Banking Method -
Step 1: Log in to NetBanking and go to to 'Cards.’
Step 2: Select 'Request' and 'Credit Limit Enhancement.'
Step 3: Proceed with the enhancement request, if eligible.
Customer Care Method -
Call on 18001600 / 18002600 and follow IVR
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Income Proof Documents Required:
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SMS Banking Method -
SMS “CRLIM <last 4 digits of Credit Card number>” to 5676766 from your registered mobile number
iMobile App Banking -
Step 1: Open the iMobile App and go to the ‘Cards/Forex/Paylater’ section
Step 2: Select your card and click on ‘Manage Card’
Step 3: Click on ‘More Options’ and then ‘Manage Credit Limit’
Step 4: Select the desired credit limit and click on ‘Submit’
Internet Banking -
Step 1: Log in to your Internet Banking account
Step 2: Click on 'My Accounts' and select ‘Credit Card
Step 3: Go to ‘Manage Credit Limit’ and click on ‘Go’
Customer Care Method -
Call customer care on 18001080 and request a credit limit increase
WhatsApp Banking -
Step 1: Send ‘Hi’ on the ICICI Bank WhatsApp chat
Step 2: Select ‘All Services’ → ‘Credit card limit’
Step 3: Select card → input desired limit → input OTP
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Income Proof Documents Required:
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Net Banking Method -
Step 1: Log in to the PNB Net Banking portal
Step 2: Navigate to the ‘My Accounts’ section and select your credit card
Step 3: Click on ‘Manage Card’ and choose ‘Card Limit Increase’
Step 4: Set the new limit and submit your request
Mobile Banking -
Step 1: Log in to the PNB Mobile Banking app
Step 2: Go to ‘Service Request’ and then click on ‘Change Card Limit’
Step 3: Select card → enter new limit → submit the request
Customer Care Method -
Call on 18001802345 or 0120 4616200 and request for a credit limit increase
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Income Proof Documents Required:
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Mobile Banking -
Step 1: Log in to the Axis Mobile App
Step 2: Go to ‘Credit Card’ → Select Card → Total Controls → Check for Limit increase
If you are eligible, you will be able to place a request.
Internet Banking -
Step 1: Log in to your net banking account
Step 2: Go to ‘Accounts’ → ‘My Credit Cards’ → ‘Limit Enhancement’ → Check for Limit increase
If you are eligible, you will be able to place a request.
Income Proof Documents Required:
No documents required if you have an Axis Bank salary account
Salaried - Last 2 months salary slip
Self-employed - Latest ITR of last 2 years and computation of income. There must be a minimum gap of 6 months between the filing dates of 2 ITRs. Last 4 digits of Aadhaar/VID should be visible.
Here are some other banks and steps to increase the credit limit on their credit cards -
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Bank |
Method |
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Call the helpline number at 1800 425 4059 and request an increase in credit limit. You will be asked to submit your card details. You can also send your credit card details via email at customercare@unionbankofindia.com |
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Call the customer service number 1860 266 2666 and request an increase in your credit card limit. |
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Internet Banking - Step 1: Log in to your NetBanking account Step 2: Select your credit card, and go to the credit card page Step 3: Go to the service request option and click the upgrade option Step 4: Follow the instructions to increase your credit limit Phone Banking - Call on 1860 500 5004/1800 209 0061/022 4406 6666 and request for a credit limit increase |
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Call 1800 103 1212 and request to increase the existing credit limit |
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Call 1800 425 7744 and request to increase the existing credit limit |
Want a Credit Card with High Limits & Rewards?
Several banks offer their customers the option to increase their credit limit by submitting a request through their website or mobile application. You can do this by logging into your account and under the Credit Cards section, look for the option to increase your credit limit.
You can contact the customer service of your credit card issuer to request a credit limit increase. Simply call the customer service number and request that the representative take you through the process. You may be asked basic financial information such as your current income, employment details, and how long you have been using your credit card.
With some banks and small financial institutions, you may need to submit a written request. In the application, request a credit limit increase and include details like your income, credit score, and the duration you have held the card.
Did your bank turn down your request to increase credit limit? Here is what you should do -
Wait for 6 months before applying again
Make payments in full within the due date in these 6 months
Pay off other debts that you can; this will improve your debt-to-income ratio
Request a small increase instead of a large one
Some banks may allow you to merge the limit of two cards into one, which would increase your limit. However, all banks don’t have this facility. Please check with your bank for more information.
Here are some tips to responsibly manage your credit -
While increasing your credit limit provides more flexibility, it is critical to use it properly.
Avoid maxing out your credit card, as this might harm your credit score and lead to future debt issues.
Stay inside your budget and only spend what you can reasonably afford to return on time.
Monitor your credit card statements regularly and promptly report any questionable activity.
There are advantages to increasing your credit limit. You get more credit at your discretion and reduce your credit utilization. If you want to enhance your credit limit, first check if you are eligible.
If you recently got a pay hike, you are probably eligible to increase your credit limit. Check with your bank by calling the customer service line and informing them of your new pay rise, and ask for an increase in your credit limit.
If you are looking for a credit card that suits your needs, try applying through the Moneyview app or website.Credit Card Insights
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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