Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • RBL Bank Credit Card Limit

    The limit on your RBL Bank credit 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.

    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.

    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.

    How is RBL Credit Card Limit Decided

    • Your Credit Score:

      A higher credit limit will be given to you if your credit score is high and you have maintained the score over a long period of time. The bank will not give you a higher credit limit for your credit card if you have a poor credit score or if have defaulted on your payments.

    • Income and Debts:

      Your income has a huge role to play while the bank determines your credit limit for the credit card.

      There are many things you need to know regarding the credit limit for your credit card.

      • The limit on your credit card is the maximum amount of limit assigned at the time of delivery of your card. The limit is mentioned in your monthly credit card statements. The credit limit will be shared by the primary cardholder and also, the add-on cardholder.
      • Your outstanding loan amount will be deducted from your total credit limit if you have any loan within your credit limit on the credit card.
      • The limits of the card will differ for every person and you will find the limit mentioned on your monthly credit card statement.
      • The limit of your credit card will be set by the bank and will be at the discretion of the bank.

    How to Increase RBL Credit Card Limit?

    The limit on your RBL bank credit card will be mentioned to you at the time of delivery of the card.

    If you want to increase the credit limit of your card, you can visit the bank branch and ask an official to increase the credit limit. You will have to submit a few documents as proof like salary slip, bank statement, and income tax returns when you apply for an increase in your credit card limit. You can also go to the bank’s official website and apply for an increase in your credit card limit.

    Advantages of Increasing Your RBL Bank Credit Card Limit

    Financial emergencies A high credit limit is always helpful when you have health and financial emergencies.
    Credit score If you have a high credit limit, it can reduce your credit utilisation ratio and this will give you a high credit score.
    Future lines of credit A low credit utilisation ratio and a high credit limit, increases your chances of getting a loan or another credit card.
    Benefits A lot of credit cards that have high credit limit offer more benefits as compared to those that have a lower credit limit.

    Impact of a transaction Over the RBL Bank Credit Limit

    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.

    RBL Bank Credit Card Limit FAQs

    1. 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.

    2. 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.

    3. 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.

    4. 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.

    5. 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.

    6. 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 RBL bank rejects your request, then also the bank will send you an SMS.

      

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