Factors that influence your credit card limit 

Have you ever wondered how financial institutions decide on the credit limit they offer on credit cards? Let us break down this process and provide you with useful information that can come in handy when applying for a credit card, especially the Bajaj Finserv DBS Bank Credit Card.

To offer a pre-approved credit limit, we assess certain criteria.

1. Age: Firstly, we offer credit cards to individuals aged between 21 and 70 years, whether existing or new customers.
2. Credit limit: Next, your income is a critical factor that determines your card limit. The bank would usually require a consistent income, either through salary or a self-owned business, when extending a credit card offer. If your income is higher, you, there is a possibility that may be eligible for a higher limit. All these factors are at the bank’s discretion.
3. Credit score: It is one of the most significant criteria when deciding on a credit card offer. Credit bureaus such as TransUnion, CIBIL, and Experian capture your credit score, based on your loans, credit cards, and payback history. Usually, a good credit score of 720 or more, can increase your chances of being approved and obtaining a higher limit.
4. Timely payments: Making on-time payments of your EMIs is also crucial in improving your credit score, which can influence your chance of getting a higher credit card limit. Repayment history is an essential factor when determining whether or not you are good with finances.
5. City: Moreover, the city you reside in may also play a role in determining your credit card limit. If you reside in a metro city, you could receive a higher credit card offer as your earning capacity is expected to be higher.
   

Finally, if you're interested in finding out whether you qualify for a credit card and checking your credit score, our website has plenty of helpful resources to assist you with the process.