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.
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.
Having a good credit score means you can get a higher credit limit.
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.
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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.
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.
Yes, the add-on cardholder will get the features and credit card limit as the primary cardholder.
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.
The documents that you submit to the bank when you apply for an increase in credit limit needs to be self-attested.
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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