A credit card limit is the maximum amount of money that you can spend using your credit card in a billing cycle. This limit is set by your credit card issuer based on your creditworthiness and other factors such as income, credit score, and credit history.
What Factors Determine the Credit Card Limit?
Credit card limits are determined by various factors, such as your credit score, income, and credit history. Banks and financial institutions assess your creditworthiness before approving your credit card application and setting your credit limit.
#1. Credit Score
A person’s credit score is one of the most significant factors that determine their credit card limit. A high credit score indicates that they have a history of responsible credit usage and timely payments, making them a low-risk borrower. As a result, banks and financial institutions may offer them a higher credit limit.
#2. Income Level
A person’s income level also plays a vital role in determining their credit card limit. A higher income level suggests that they have a better repayment capacity, and banks may offer them a higher credit limit.
#3. Credit History
A person’s credit history provides insights into their past credit behavior. A good credit history reflects responsible credit usage and timely payments, which increases the likelihood of getting a higher credit limit.
#4. Debt-to-Income Ratio
A person’s debt-to-income ratio is the amount of debt they have compared to their income level. A high debt-to-income ratio may negatively impact their credit card limit, as it indicates that they may have difficulty repaying their credit card bills.
#5. Existing Credit Obligations
The number of existing credit obligations, such as loans or credit card balances, may also impact a person’s credit card limit. Banks and financial institutions may consider these obligations when determining a person’s creditworthiness and credit limit.
6 Different Methods to Check Credit Card Limit
#1. Check Credit Card Limit Through Statement
You can download the credit card statement from your registered email id. The statement provides a comprehensive record of all the transactions made using your credit card. You can check your current credit card limit under section “Credit Limit/Total Credit Line.”
#2. Check Credit Card Limit Through Net Banking
To check your credit card limit through net banking, follow these steps:
Step #1. Login to your netbanking account using your credentials.
Step #2. Go to the ‘Credit Card’ section.
Step #3. Select the credit card for which you want to check the limit.
Step #4. Click on the “view account summary.”
Step #5. You will now get the details about your credit card, including its limit.
#3. Check Credit Card Limit Via Mobile Banking App
Step #1. You need to download the mobile banking application from the playstore and install it.
Step #2. If you’re a new user, register with the app using your registered mobile number and other bank account details.
Step #3. Log in to your mobile banking account using your credentials.
Step #4. Go to the ‘Credit Card’ section.
Step #5. Click on ‘Credit Card Limit’ option to view your current credit card limit.
#4. Through Whatsapp Banking
You can check your credit card limit through whatsapp banking.
Here are steps to follow:
Step #1. You can add “official whatsapp banking number” to your contacts.
Step #2. You can start a conversation by saying “Hi” and registering with your “Customer ID.”
Step #3. If you are already registered with whatsapp banking, send a message “Credit Card Limit.”
Step #4. You will receive the complete detail of your credit card limits including total credit limit, available credit card limit, and cash limit.
#5. Check Credit Card Limit via Customer Care
You can easily check your credit card limit by dialing the customer care number of your respective bank and following the IVR instructions. However, it’s important to note that you must call from your registered mobile number to ensure proper authentication of your identity.
You can check your respective bank customer care number:
#6. Check Credit Card Limit Via SMS
You can easily check your credit card limit by sending an SMS from your registered mobile number. You can simply send a text message to the designated number with your request.
Make sure to follow the specific format provided by your bank for requesting the information. After sending the text message, you will receive a response that includes details about your credit card limit.
Somes Banks SMS Format to Check Credit Card Limit
For HDFC Bank
- To check credit card balance – SMS CCBAL Last 4 digits of credit card number to 5676712
- To check available credit limit – SMS CCACL Last 4 digits of credit card number to 5676712
For Axis Bank
- Type “AVAILBAL<space>last 4 digits of credit card number” and send to 5616 1600 or 86910 00002.
SBI Bank
- Send an SMS: BAL Last 4 digits of your credit card’s number to 5676791.
ICICI Bank
- To check ICICI credit balance – SMS IBALCC Last 6 digits of credit card number to 5676766 or 9215676766.
How to Increase Your Credit Card Limit
You can increase the credit card limit in two ways –
- Accepting Pre-approved Enhanced Credit Limit offer
- By direct requesting the bank
#1. Accepting Pre-approved Enhanced Credit Limit Offer
If you have received a pre-approved credit limit increase offer from your bank, you can simply accept it through either internet banking or phone banking.
This offer indicates that the bank has evaluated your creditworthiness and spending patterns and determined that you are eligible for a higher credit limit.
#2. By Direct Requesting the Bank
You can also directly request the bank for a higher credit limit through contacting the customer care number or visiting the nearest bank branch to submit a request. You may need to provide updated income and employment information to support your request. The bank will review your request and determine whether to approve or deny the credit limit increase.
Bottom Line
If you need more queries about how to check credit card limit, increase your credit card limit, check credit card billing date, and change credit card billing date, let me know in the comment section.
