There is no doubt: the credit card it is the greatest ally when shopping, both for its practicality and other benefits.
Although credit cards have expressively abusive interest rates, the advantages and facilities of making payments with a card make them fundamental in our lives.
We've separated 5 expert tips to increase your chance of getting your credit card limit increased:
1. Update your income to the bank
Your credit card limit is determined according to the customer's income. Banks offer an initial limit of 30% of the monthly income amount. This means that the higher your income, the higher the limit granted.
Because of this, it is important for the customer to remember to update their income to the financial institution. The old income can be detrimental to the request for an increase in the limit, because if it is lower, the bank will negotiate based on it.
2. Always pay your bill by the due date
Organizing your financial life to avoid revolving credit and debt installments is essential to be able to increase your credit card limit, because banks keep a history of payment from their customers, a pattern of late payments and the minimum amount being seen as negative. of the debt.
The golden rule is: pay the invoice before the due date and, preferably, the full amount, because the bank will verify the constancy in the payment on the date and in full of the debts, and because of this, the concession of advantages will be greater. However, this tip to avoid payment after maturity is to choose the automatic debit option.
3. Always try to increase your credit score
The credit score is a score based on the customer's ability to pay, verified by financial institutions before granting credit. The score is from 0 to 1000, as factors such as age, monthly income, marital status, SPC and Serasa records are analyzed.
Experts say that to increase your credit score, it is recommended that your bills be paid on time, settle overdue bills, make payments in advance, have accounts in your own name, update proof of income, etc.
4. Always use the card for most expenses
It is known that the factors that determine the limit of the credit card is the need, but financial institutions grant a general limit according to the customer's income, and according to the use of the card, this limit can be increased to satisfy the customer's need. your client.
However, a good way to demonstrate to the card company that you need an increase in your bill is: to use the card to pay as many expenses as possible and as close to the limit as possible.
However, the administrator, when verifying that this is a constant customer and that the current limit is frequently reached, will realize that his profile needs an increase in the limit.
But, it's always good to remember that frequently maxing out the card alone is not enough for the increase to be granted. It is important that due payment of invoices is also being made.
5. Try to negotiate the limit with other banks
If after negotiating the limit with your financial institution and you are still not satisfied with the offer, we recommend that you look for other banks to negotiate! However, even if you demonstrate the same account history, proof of income and objective, banks have different criteria in determining the limit.
Anyway, it is possible that you will find banks willing to give you a lower limit or a higher one.
For further information, visit the website of Serasa by clicking here.
