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

    The limit on your Standard Chartered 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.

    How is Your Standard Chartered Bank Credit Limit Determined?

    Standard Chartered Bank determines the credit limit of your credit card when send in the application to get a card. The limit is fixed after looking into these factors:

    • Your credit history
    • Income
    • Your liabilities
    • Your age
    • Your credit score

    Difference Between Total Credit Limit and Available Credit Limit

    The total credit limit is the maximum amount that can get on the card, and 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 Much Standard Chartered 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.

    Impact of a transaction Over the Standard Chartered 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.

    How is Standard Chartered Bank Credit Card Limit Decided?

    • Credit History:

      You credit usage and repayment pattern will reflect your creditworthiness. Making timely payment of loans and also managing your debts will create a good credit history.

    • Credit Score:

      Having a good credit score means you can get a higher credit limit.

    • Your income:

      Having a higher income better the chance of getting a higher credit limit.

    • Outstanding Debts/Loans/EMI Payable:

      If your debt amount is higher, EMI payment will be higher. This will reduce your credit limit.

      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 Standard Chartered Bank Credit Card Limit?

    • Log in to the Standard Chartered Bank Online Banking portal
    • Select ‘Help and Services’
    • Choose ‘Card Management’
    • Choose ‘Credit Limit Increase’
    • Follow the instructions that are on the screen and then place your request for a credit limit increase

    Standard Chartered 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 Standard Chartered Bank rejects your request, then also the bank will send you an SMS.


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