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

    We found 52 Benefits of Increasing Your Credit Card Limit

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  • Benefits of Increasing Your Credit Card Limit Reviews

    • Citibank Credit Card
      "Petrol waiver card"
      0.5 5.0/5 "Blown Away!"
      The response is really good with CITI bank customer service. I hold Indianoil credit card for past 2 years. This Indianoil card is used for fuel purposes. This card has the reward point which can be redeemed for fuel which is a very good benefit. I am happy with the credit limit. The rate of interest is nominal with this card. Overall I am satisfied with Indian oil card service.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 25, 2017
    • Citibank Credit Card
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      It is a life time free credit card with Citibank and the services are excellent from them online as I can see all my transactions I do on the card. The offers are also constant and the credit limit is good. I am happy that there has not been any hassles in banking with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "Convenient for shopping"
      0.5 5.0/5 "Blown Away!"
      I had been using HDFC credit card for last two years, its easy to use anywhere. I am holding domestic credit card its accessible all over in India without any charges and its life time free credit card. I used to get discounts on billing payment and discounts on fuel too.
      Was this review helpful? 0
      , aurangabad
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "Satisfied with the services"
      0.5 4.0/5 "Great!"
      The services at HDFC Bank is good and they are customer friendly. I hold a credit card and I am happy with what ever is provided to me. The credit limit is decent and the overall services is also good and there are no issues in me using my card online or offline. I get intimated instantly about my transactions.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • American Express Credit Card
      "Very good card to use"
      0.5 2.5/5 "Just OK"
      The American express platinum Travel credit card is not used in all the places. I am using it for past 2 months. There are lot of benefits with this card, but then I don't use this card much. The benefits like travel expense and the airport lounge and the reward points are available with this card. The rate of interest is too high when compared with others. I would like to suggest that AMEX card must work everywhere.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • SBI Cards Credit Card
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      When I had been offered this card, i was told it was that the credit limit would be good but the credit limit they have offered is 16k which is very low. The most important feature is on line banking with sufficient credit limit I have called the bank to increase my limit but they just said " Sorry sir no offers running now".
      Was this review helpful? 0
      , udaipur
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      HDFC provided life time free card, I am yet to compelte one year with HDFC. I did not receive reward points and cash back offers from the bank. I have to check with the bank for the reward points and the credit limit is one lakh. Their services are good and approachable.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • Axis Bank Credit Card
      "Good credit card"
      0.5 4.0/5 "Great!"
      AXIS is giving higher reward points and cash limit is good compared to other credit card, I am using VISA credit card. Whenever I used to shop with Flipkart they are giving 5% of discount at online shopping, I am very fine to use this AXIS credit card.
      Was this review helpful? 0
      , hosur
      Reviewed on May 25, 2017
    • ICICI Bank Credit Card
      "Convenient for shopping"
      0.5 4.0/5 "Great!"
      ICICI credit card billing option is very good they are giving 45 days of time to make the payment. Grace period duration is good. But ICICI credit limit is not good and it is not sufficient and we don't have option to make payment from one card to one card, that has to be improved.
      Was this review helpful? 0
      , hosur
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "Average"
      0.5 3.0/5 "Satisfactory"
      HDFC Bank needs to improve on the offers on the credit card. They provide a good credit limit but when compared to the offers they need to provide more features. The services are good and they are responsive as well when I send emails or when I contact them over the phone.
      Was this review helpful? 0
      , pune
      Reviewed on May 25, 2017
    • American Express Credit Card
      "Good to Use"
      0.5 5.0/5 "Blown Away!"
      The good features are there on my Amex credit card is I am getting more reward points on the card also I believe that they are giving some offers on flight ticket bookings. The annual charge is 1000 rupees and I am happy using my Amex credit card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • IndusInd Bank Credit Card
      "Better Service"
      0.5 4.0/5 "Great!"
      Indusind bank is good for credit cards but I am not getting that much offers on the credit card. Also. I had no chance to use the card because I have other bank cards where I have good features and lot of offers on it. The annual fee for the card is rs500. Just holding the card however I had not used this card till date.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • ICICI Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      ICICI bank is also very good for the credit card services. They offered good features on the card and I have a lot of benefits if I use ICICI credit card. Reward points and cash back offers are default feature on the card. Moreover, their overall service is too good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "The best choice"
      0.5 5.0/5 "Blown Away!"
      As per my experience with all the banks, I could say that the HDFC bank is the best bank for credit card, they are good in all the aspects. They offered regalia card with no annual charges. Credit limit is one lakh which is enough. Each and every time they used to credit reward points also it is very easy to redeem those points on shopping.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • Citibank Credit Card
      "Better Service"
      0.5 4.0/5 "Great!"
      CITI bank is good for credit card but I am not using it because I got good credit limit and other offers with other banks like HDFC and ICICI bank. Earlier I was using CITI card the most but nowadays I just keeping the card but no usage on it. Also I am thinking to surrender the card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • Bank Bazaar Customer Support
      "nice way to apply"
      0.5 5.0/5 "Blown Away!"
      Nice way to apply credit cards especially it shows awesome offers regarding credit card & approval within 24 hours that is very great option in this website very good I would like to refer my friends, family collegeus and my company employees too.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2017
    • ICICI Bank Credit Card
      "Good to Hold this card"
      0.5 4.0/5 "Great!"
      Specialty about my Ferrari Platinum credit card has good reward points compared to any other cards, I used to get points for every transactions. I think 1 points - 25 paise its good, this card help me on my needs. I am using this credit card for past two years I got many offers in movie tickets like buy one get one free along with that I used to get payback points, I could redeem for mobile recharge.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "Good overall"
      0.5 4.0/5 "Great!"
      Am happy with HDFC Bank for the services they offers and for the offers on the credit card. Everything is perfect on my card, the statements has never gone wrong and it has always on time. The repayment options are also convenient for me and more than all , it is a transparent process.
      Was this review helpful? 0
      , baddi
      Reviewed on May 25, 2017
    • Citibank Credit Card
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Citi bank credit card is very good in terms of their services. They have given me CITI rewards card and the credit limit they have offered me is very less just 36000 rupees and I was also confirmed that the reward points can be convereted into cash back.
      Was this review helpful? 0
      , pune
      Reviewed on May 25, 2017
    • HDFC Bank Credit Card
      "Good. Can do better"
      0.5 5.0/5 "Blown Away!"
      I also bank with HDFC bank for a credit card and I would suggest that the bank needs an improvement in the credit limit and the portal has to be more user friendly like SBI. There are so many options I need to go through to check about my transactions.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
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    Benefits of Increasing Your Credit Card Limit is Rated as "Excellent!" by 34791 Users

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    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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