Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Benefits of Increasing Your Credit Card Limit Reviews

    • Bank Bazaar Customer Support
      "Very good"
      0.5 4.5/5 "Excellent!"
      Until now I got 14% personal loan with some processing fee. But after using bankbazaar I got 12% Personal loan with zero processing fee via Standard Chartered bank. I am thankful to BankBazaar website. But, I am not sure about the login process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Good service providers and enthusiastic services offered"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is very good service provider and they are playing a very important role now a days they are doing a good job and good future development is expected and it provides very good customer service in a timely manner and all the field they are very much appreciated . Keep it more and more expectational.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Online Apply Credit Card"
      0.5 4.5/5 "Excellent!"
      Very nice website to apply for online credit card with all document upload online. Very nice experience for online transactions, I apply for a credit card thorugh bank bazaar .com. I will share this experience with whose people whose life is busy please use bankbazaar .com and apply for all financial products.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "BankBazar review"
      0.5 5.0/5 "Blown Away!"
      It was a very interesting experience, I had the opportunity to conclude my choice and was called to complete the details of my application when it wasn't my doubts were clarified as well and was continuously supported , the experience was just brilliant, thank you so much
      Was this review helpful? 0
      , pune
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Credit card application"
      0.5 5.0/5 "Blown Away!"
      I am applying for a credit card online through bank Bazaar.com it is very easy to handle and it is very much friendly user, I hope it will be a good response and feedback for me Customers response is very quick back to me We hope to secure our personal details from this website.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "bank bazaar great doing excellent work for customers"
      0.5 4.5/5 "Excellent!"
      Fast and excellent work and very good rapport with customers very good experience with bank bazaar and will definitely tell my friends and customers who purchase from our firm for any bank loan or cards. very easy to know credit score through your site really very good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am very happy this customer service which is provided by you, this is the very first time, I like to thank you a lot and this company is in Bangalore city state this is my first time I told all my friend and my family about this credit card as this credit card is first in my life. I am very much happy thanks!!
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 26, 2017
    • Bank Bazaar Customer Support
      "Gives me better option"
      0.5 4.5/5 "Excellent!"
      Only this site gives me better options to compare with another option. As it provides the options such as credit card/car etc. Better for us It's too good for me... also I suggest my friends to take the benefit on this site. I don't have talk a word to show the quality of this site Thanks..
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good going on this site"
      0.5 5.0/5 "Blown Away!"
      I am applying for the Personal loan and credit cards on this very easy to apply online and faster response from concerned banks . I will get credit cards and aswell as personal loan thank you very much for this type of faster service, good going just click on the mobilesite and required loan was fastly provided.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • SBI Cards Credit Card
      "Satisfied"
      0.5 4.0/5 "Great!"
      SBI has offered me a credit card as well and I am satisfied with the deals I get on my card. There are no charges and the offers that I get online is really good. There are cash back offers and the rewards are also satisfactory. The credit limit is also up to the mark.
      Was this review helpful? 0
      , guntur
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Good"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is good ,it helps me a lot and make life easy in many ways,sometimes but their executives were much annyoing as, when they call me only bcz I searched for some product,but overall it's very helpful ,it is a full of information with proper guidance and help.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 25, 2017
    • HDFC Bank Credit Card
      "Good card to use"
      0.5 5.0/5 "Blown Away!"
      I got HDFC bank platinum times card 5 years ago. The customer service and the response is very good with HDFC bank. I get the rewards points , Cash back offers by using this card. I use this card for only purchase purposes. I am not happy about the credit limit, still they can increase my credit limit in future. I am satisfied using this platinum times card.,
      Was this review helpful? 0
      , narasaraopeta
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Good app"
      0.5 5.0/5 "Blown Away!"
      Your application is a smart application , very much user friendly, even your communication is very good , I didn't find any app like this , , very good response from telle callers too, very good to apply for credit card, personal loan, home loan etc.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Smart way to get credit card"
      0.5 5.0/5 "Blown Away!"
      It's gentle and easy method to apply for credit card without the intervention of human being. If the documents to be submitted had been communicated in the first page, then I would have prepared for the same. Anyways I liked it. You have to have the referral link to share for the friends.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jul 25, 2017
    • ICICI Bank Credit Card
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      I earlier held a credit card with ICICI Bank and as long as I used it, there were no issues. I received good services. The offers were always on and the statements was proper too. In all there were no issues as such on the charges as well. Overall a nice experience.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "I'm thankful to bank bazar accepted my request "
      0.5 5.0/5 "Blown Away!"
      Bankbazar is wonderful and good service quick response to customers very helpful operators I'm thankful to bank bazar accepted my request And I was able to apply for a credit card only two minutes and they provided quick response to me and I am done with the application.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 24, 2017
    • Bank Bazaar Customer Support
      "WELL TO HELP THIS BANK BAZAAR SITE"
      0.5 5.0/5 "Blown Away!"
      Simple to apply, credit card , personal loan, and etc. I got a very good response from bankbazaar .com I am very much happy to get associated with you. Thanks to you all for Making me a part of bankbazaar.com and also I wish that you will be the Best in the Nation and in the globe. Once again thanking you....
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 24, 2017
    • Bank Bazaar Customer Support
      "Good "
      0.5 5.0/5 "Blown Away!"
      Good, I have gone through all the steps which is easier to apply credit card through bankbazaar and it is very much easy to apply too. I hope I will get a call from HDFC regarding the credit card and get approval and almost, I had been trying for the last few days. Thank you bankbazaar.com for giving me a chance to apply.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 24, 2017
    • HDFC Bank Credit Card
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank is good in the credit card offers. I get a lot of good deals and the process of me getting the card was quick. The credit limit is also perfect for me and I earn a lot of points when I use the card online and offline. The charges on the card is normal too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • SBI Cards Credit Card
      "Average"
      0.5 4.0/5 "Great!"
      I am having SBI credit card from the last six to seven months of time. Response is fine one for me till now. Customer service aspects are also good one with them till now . Credit limit value is not really a good one with them. Payment modes are flexible one with the SBI credit card.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 24, 2017
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    Benefits of Increasing Your Credit Card Limit is Rated as "Excellent!" by 36311 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Credit Card BYTES FROM OUR KITCHEN

    Credit Limit is a term that refers to the maximum amount of money that people can borrow from their banks using their credit cards. This limit is set by the bank based on factors such as the income of cardholders, credit score, monthly salary, etc. People can use this limit for online and in- store purchases, bill payments, cash withdrawals, etc.

    The credit limit is revised periodically by the banks. During the revision process, banks consider various things like monthly card payments, credit score and income of the cardholders. If cardholders have a good record, then banks tend to increase their credit limit. Some people consider a high credit limit to be a bad thing, but it is not. A high credit limit has its own set of benefits.

    Benefits of Increasing Credit Card Limit:

    Mentioned below are some of the benefits of increasing the credit card limit:

    Low credit utilization

    By increasing their credit card limit, cardholders can lower their card usage. For example – If a person’s credit limit at present is Rs.1, 00, 000 and he/she has used only Rs.50, 000, then it means that he/she has used half of his/her full credit limit. So, in case he/she chooses to increase his/her credit limit to Rs.1, 25, 000, but continue to use only Rs.50, 000, then he/she will be using less than half of the credit limit. In this way, his/her credit utilization has been reduced. Here, the expenses of the person has not reduced, but he/she will be considered as a responsible user by financial institutions.

    Increase in the credit score

    WWhen credit cardholders use increase their credit limit but not their expenses, then they end up using less credit than the limit assigned to them. This increases their credit score because there is a decrease in their debts. Financial institutions consider cardholders who use an amount lower than their credit limit as financially secure and responsible because they are spending less than they can. This factor assures the institutions that they will receive their credit card payments on time.

    Multiple Cards not required

    It is better to have one credit card with a high credit limit rather than owning multiple cards with lower limits. Having one card makes it simple for cardholders to keep a track of their card activities. It helps them plan their expenses well. Also, cardholders can save on the extra charges that they would otherwise have had to pay for each of the cards, in case they owned multiple credit cards. Owning one card with a higher limit also increases their chance of having a good credit score. More than one credit card account can have a significant impact on the credit history, if all of them are not managed well.  

    Easier to Get Loans

    People with high credit limit are considered safe and reliable by banks, which makes it easy for them to get loans. Their increased credit limit acts as a proof to banks that they can be trusted with money. Also, a higher credit limit can result in a high credit score (as mentioned above) and a high score can help people get loans easily at low rates of interest. So, while negotiating for a loan, credit cardholders can use their high credit limit as a reason to get a good deal.

    More Rewards

    If credit cardholders have a high credit limit, they can spend more using their credit cards. People who always pay their full credit card bills on time can charge their purchases to their cards to earn more rewards. Also, if their bank has increased their credit limit, it means that their banks consider them important and may offer more reward points and benefits. The rewards can help cardholders in reducing their other spends. For example – Money spent on purchasing airline tickets, gifts, etc.

    Customer Protection

    Credit cardholders can use their cards to make large purchases if they have a high credit limit and earn rewards. Not many cardholders are aware of the fact that credit cards provide consumer protection such as price protection, extended warranty, coverage for lost goods, etc. If cardholders use their cards to make large purchases, they can use their card to protect themselves in case of any trouble.

    Helps during Emergencies

    A high credit limit on credit cards can help cardholders in situations where they are in urgent need funds. If they have a high limit, they do not have to borrow money from another individual or opt for a loan. Also, if they wish to take a loan, their limit will make it easy for them to get loans from their bank at a good interest rate.

    Disadvantages of Increasing the Credit Limit:

    Some of the disadvantages of increasing the credit limit are as follows:

    More Debts

    An increase in credit card limit provides more spending power to credit cardholders. If cardholders do not control their spending and increase their expenses along with the limit, then their debts will increase. Some cardholders end up spending more than they can afford at times when they have an increased limit, which results in them paying more interest on their credit card bills.

    Strict Enquiries

    When credit cardholders request for an increase in the credit limit, card issuers conduct a strict enquiry and evaluate their existing credit. Such enquiries can have a negative impact on a cardholder’s credit. If multiple enquiries are made in a short period of time, then it can result in the reduction of credit score.

    These are some of the benefits and disadvantages of increasing the credit limit. Credit cardholders should think and weigh all the pros and cons before they increase their credit limit. They should ensure that they plan their budget and control their spending, if they are increasing the limit.  

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