Credit Card Limit

The credit card limit is the maximum amount that a person can spend in total on their purchases and any withdrawals. It is how much the bank granted credit to the bearer. The total value of purchases is considered, not just the installments. That is, if a person made a purchase of R $ 1,000.00 in installments in 4 installments, and the card limit was R $ 2,000.00, the limit after this acquisition becomes R $ 1,000.00, until payment is made. of the first installment. Thereafter, the limit is considered to be R $ 1,250.00, if another debt has not been assumed, and so on. If the consumer continues to use the card, he must decrease the values ​​of new purchases and add the values ​​of the installments paid. Thus, you can know exactly how much you can spend without having a headache.

The updated limit information is specified in the monthly credit card bill. It is important to pay attention to this number, in order not to fall into the trap of reaching the limit, that is, having the purchase approved, but being subject to very high rates and interest. Or go through embarrassing situations, such as having unauthorized payment by the store, due to the absence of a limit.

The credit card limit is defined at the time of purchase and varies according to the customer's monthly income. The bank does a credit risk analysis based on information such as salary and the applicant's history. In other words, the more the customer earns and the lower his risk of default with the bank, the higher the limit will be.

Increasing the card's limit is possible after a period of use. The cardholder must contact the card issuing bank through the call center or talk to a manager. The customer's new income and payment history, debts and eventual delays with the card will be taken into account. Whoever fulfilled the financial commitments is more likely to be able to increase the card limit.

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