How to increase your credit card limit?
A credit card limit is the credit usage cap set by the issuer. It is the maximum amount that a customer can spend using a credit card. A few easy ways to increase your credit card limit include boosting your credit score, repaying your dues on time or sharing a proof of increase in income with the card issuer. However, approval or rejection of your request for credit limit enhancement is completely at your lender’s discretion.
Most lenders review your credit card usage pattern for about six months before considering limit enhancement. However, these terms and conditions vary from lender to lender.
How to increase your Bajaj Finserv RBL Bank SuperCard limit?
There are two simple ways to increase your Bajaj Finserv RBL Bank SuperCard limit.
- Get automatic credit limit enhancement:
If you have been a trustworthy customer, your credit card limit may increase automatically. For this to happen, you need to make a reasonable number of transactions with your credit card, pay all your outstanding dues on time and maintain a high credit score.
- Request credit card limit increase:
The best way to increase your credit card limit is by calling up the customer care number or visit a branch closest to you and submit an application for a credit card limit increase. If you have recently received a promotion, changed jobs or cleared an existing loan, you may submit the relevant proof to validate these.
You can increase your Bajaj Finserv RBL Bank SuperCard's credit limit by following a few guidelines:
- Repay dues on time
If you wish to increase your RBL credit card limit, you need to have a good credit history. Paying your credit card bill on time will help you maintain this.
- Be Patient and Wait
If you have been using a credit card for quite a significant period, the issuer will automatically increase the credit card limit.
- Boost Your Credit Score
A poor credit score will minimise your chances of upgrading your credit card limit. Thus, you need to follow certain practices that boost your credit score. Pay your bills on time and clear your outstanding debts to boost your credit score.
- Show proof of increase in income
If you have received a promotion or an increment in your income, you can request your credit card company to increase your credit limit. Although, you are required to submit the documents that validate your claim of a hike in your income.
- Apply for a new card
If you have received a pay hike and meet the income eligibility for a higher credit card variant, you can apply for a new card. In this way, you will get to increase the credit card limit.
Frequently asked questions
You can increase your credit limit by following a few simple steps. You can request your bank to increase the limit of the credit card. It is likely to accept your request if you pay your credit card bills on time. Clearing the dues boosts your credit score too. Another method is to apply for a higher variant by submitting evidence of your raised income.
No, it is not bad to request a credit card limit increase. If you pay your dues on time and maintain an excellent credit history, you can always take this step.
If you have received a pay raise, you can request an increase in your credit card limit every twelve months. On most occasions, the bank itself evaluates and sets the credit limit higher. You need to gain the issuer's trust by clearing the dues punctually and using the card regularly.
Ideally, you should wait for twelve months before requesting a credit card limit increase. You can build your credit score as a reliable customer during this period. If you make transactions regularly and pay the bills on time, the bank will automatically raise your credit card limit.
Yes, it is a good idea to request a credit line increase. It will reduce your credit utilisation ratio and improve your credit score. You will have more funds at your disposal in case of emergencies.
