IDBI Credit Card Limit
The limit on your IDBI Bank credit card is the maximum balance that is available for you. The bank will determine your credit card limit and you can always request the bank to increase it in the future.
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While the total credit limit is the maximum amount that can get on the card, the available credit limit is the amount that you have on the credit card for making purchases (as on a specified date). When you cross the total credit limit, you will be charged a penalty by the bank. The fee is called an over-limit fee.
If you use your credit card to make a transaction that is over the credit limit, you will have to pay an over-limit fee and this will negatively impact your credit score. It can also reduce the chance of you getting a loan for a financial emergency.
How is IDBI Bank Credit Card Limit Decided?
IDBI bank determines the credit limit of your credit card when send in the application to get a card and looks into these factors:
- Income
- Your credit history
- Your age
- Your liabilities
- Your credit score
How Much IDBI Bank Credit Card Limit Can You Use?
Your credit utilisation ratio shows how much credit limit you have used. If the credit utilisation ratio is very high, then a lot of banks will think you are credit hungry. This will in turn affect your credit score. If you have a low credit utilisation ratio, it will show lenders that you know how to manage your finances and you can repay any borrowed amount.
How Does the IDBI Bank Credit Card Limit Affect Your Credit Score?
If you have a high credit score, your creditworthiness will also be high. The way you use your credit limit affects your credit score. This is because every month, the credit limit and credit utilisation ratio are being reported by the bank to the credit bureaus. If your credit utilisation ratio is high, then, your credit score will be low. You can keep a high credit score by following these:
- Regularly paying your credit card bills in full
- Paying your bills on time
- Reducing your credit card limit usage
- Try to reduce all liabilities
How can you Increase Your IDBI Bank Credit Card Limit?
- Ask the bank: You can always ask the bank to increase your credit limit. A lot of the banks will agree to increase the credit limit on your credit card based on the reason that you provide, and also your repayment history.
- Pay your bills on time: If you pay your credit card bills on time and in full, most banks will increase the credit limit of your credit card automatically.
- New Credit Card: You can apply for a new credit card that has a higher credit limit as compared to your current credit card.
- Low CUR: If you use your credit card regularly and you do not have a high credit utilisation ratio (less than 30%), banks will increase your credit limit.
Advantages of Increasing IDBI Bank Credit Limit on your Card
- If you have a high credit limit, it can reduce your credit utilisation ratio and this will give you a high credit score.
- A high credit limit is always helpful when you have health and financial emergencies.
- A lot of credit cards that have high credit limit offer more benefits as compared to those that have a lower credit limit.
- A low credit utilisation ratio and a high credit limit, increases your chances of getting a loan or another credit card.
FAQs on IDBI Bank Credit Card Limit
- Will the credit card limit be the same for everyone?
No, the card limit will be decided by the bank. This will be different and be set after the bank looks into your expenditure, income, and factors like repayment history and credit score.
- Do I have an option to decrease the limit of my credit card?
Yes, you can always decrease your credit card limit. You will need to submit documents as proof and the bank will process them as soon as possible. The bank can also decrease your credit card limit if you are not able to pay the credit card bills on time or if you cannot fund yourself.
- Will the add-on cardholder also get the same features and also the credit limit as the primary cardholder?
Yes, the add-on cardholder will get the features and credit card limit as the primary cardholder.
- What are the main eligibility criteria for increase my credit card limit?
You should not have exceeded your credit card limit over the past years and should have also paid the entire credit card bill amount in full and on time.
- Do I need to submit all the self-attested documents to the bank?
The documents that you submit to the bank when you apply for an increase in credit limit needs to be self-attested.
- How do I know about the latest status of my application to increase the credit limit?
The bank will keep notifying you regarding your application status. If IDBI bank rejects your request, then also the bank will send you an SMS.
Types of Credit Card
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- Student Credit Cards in India
- Shopping Credit Cards
- Contactless Credit Cards
- Travel Credit Cards
- Co-Branded Credit Cards
- Lifestyle Credit Cards
- Rewards Credit Cards
- Business Credit Cards
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Credit Card by Banks
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- IndusInd Bank Credit Card
- RBL Bank Credit Card
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- YES Bank Credit Card
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- Punjab National Bank Credit Card
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- Union Bank of India Credit Card
- Bank of India Credit Card
Articles on Credit Card
- How to Check Credit Card Status
- How to Manage Multiple Credit Cards
- Best Credit Card for Poor Credit
- How to get Credit Card without Job
- Credit Card Insurance Benefits
- How to Apply for Lost Credit Card
- Reasons for Credit Card Rejection
- Advantages & Disadvantages of Credit Card
- Difference between Credit Card & Debit Card
Credit Card Customer Care
- SBI Credit Card Customer Care
- HDFC Bank Credit Card Customer Care
- Axis Bank Credit Card Customer Care
- Federal Bank Credit Card Customer Care
- IndusInd Bank Credit Card Customer Care
- PNB Credit Card Customer Care
- RBL Bank Credit Card Customer Care
- Kotak Credit Card Customer Care
- Yes Bank Credit Card Customer Care
- Standard Chartered Credit Card Customer Care
- Canara Bank Credit Card Customer Care
- HSBC Credit Card Customer Care
- Indian Bank Credit Card Customer Care
- Bank of Baroda Credit Card Customer Care
- Bank of India Credit Card Customer Care
- Union Bank of India Credit Card Customer Care
Credit Card Bill Payment
- Credit Card Bill Payment
- SBI Credit Card Bill Payment
- HDFC Credit Card Bill Payment
- Federal Bank Credit Card Bill Payment
- Axis Bank Credit Card Bill Payment
- IndusInd Credit Card Bill Payment
- Kotak Credit Card Bill Payment
- Standard Chartered Credit Card Bill Payment
- RBL Bank Credit Card Bill Payment
- HSBC Credit Card Bill Payment
- PNB Credit Card Bill Payment
- Canara Bank Credit Card Bill Payment
- Bank of Baroda Credit Card Bill Payment
- Bank of India Credit Card Bill Payment
- Union Bank Credit Card Bill Payment
Credit Card Eligibility
- Credit Card Eligibility
- SBI Credit Card Eligibility
- HDFC Credit Card Eligibility
- Federal Bank Credit Card Eligibility
- Axis Bank Credit Card Eligibility
- Yes Bank Credit Card Eligibility
- IndusInd Bank Credit Card Eligibility
- HSBC Credit Card Eligibility
- Kotak Credit Card Eligibility
- Canara Bank Credit Card Eligibility
- Standard Chartered Credit Card Eligibility
- RBL Bank Credit Card Eligibility
- Bank of Baroda Credit Card Eligibility
- Union Bank Credit Card Eligibility
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