Using a credit card is routine for millions of people across Brazil. However, there is one question that makes many users uncomfortable: even if I pay the bill on time, my credit card limit never increases. So, if you are also one of those people, read the answer below.
In short, the credit card limit is defined based on a periodic credit check carried out by the financial institution. In this analysis, several points are analyzed, such as: B. paying bills and tying up the citizen's income.
The bank often releases an amount that represents the upper limit that the person can have according to their financial transactions. Even if you pay your bills on time, the bank may not increase your limit because your income hasn't increased.
For this reason, most of the time when you apply for a credit card, the bank usually asks for confirmation of your income. Additionally, you need to add income information so you can increase your limit from there.
However, if the bank determines that the available limit is already an acceptable limit and compatible with your income, it is likely that you will not be able to increase your limit. Finally, it is important to mention that each bank has its own credit card limit release policy. So, while one bank may release more limits, another may refuse.
See 5 quick tips to get a limit increase
- Always update your income. Has your salary changed? Update.
- Never delay payments. …
- Keep usage close to the limit. …
- Increase your credit rating. …
- Transfer all your limits to your credit card.
