Already have a credit card but can not buy the desired item. How come? Yes, because the credit card limit is barely adequate.
Credit cards are barely mediocre, sometimes like to make frustrated, especially if the difference is a little. Actually it can be ‘forced’ still transactions with credit cards above the limit or over limit .
But it is also not free, you know because there are costs that will be charged to you and it depends on the policy of the credit card issuer.
Well, one measure of the power of credit cards is in the limit. If the limit is small, it makes you unable to freely conduct transactions. For example there is a motorcycle loan offer with 0 percent installments for USD 14 million using a credit card. Well, if the limit is below that, you can only smile.
So it’s only natural that many people want to increase their credit card limits. Just before you contact the credit card issuer to increase the credit card limit. There are a number of things you should consider.
To increase the credit card limit the first thing a bank will see is income. The bank will usually give a credit card limit three times the monthly income.
For example, income of USD. 6 million then you can be given a credit card limit of USD. 18 million. But keep in mind, BI has implemented a maximum credit card ceiling policy.
2. Domicile (industry)
How does domicile affect the increase in credit card limits? Yes, if you live somewhere for a long time the possibility of getting a credit card limit will also be greater.
Why? Because the bank does not want to take risks if there are arrears of payment and confused looking for it. Different from customers who frequently move around the domicile, maybe the credit card limit is slightly smaller.
3. The amount of credit requested by the customer
To increase the credit card limit, the bank will also assess how many requests for the limit increase the customer wants.
Banks generally will measure whether the request is feasible or not and also see the extent to which the credit card limit will burden the customer’s monthly finances or vice versa.
4. Total debt
Not just income, to increase the credit card limit the bank will also see your total debt. If you don’t have debt, chances are the limit that will be given will be large.
But if you have debt, the bank will usually consider raising your credit card limit. Just mention whether there are loans in banks such as mortgages, KTA, and multipurpose loans.
5. The number of applications for making a credit card
You need to know that applying for a credit card can also affect the amount of a credit card limit. That is, the more applications for making a credit card, the more likely the limit is smaller.
But keep in mind, if BI has limited credit card ownership based on income. Those whose income is between USD 3-10 million a maximum only have two credit cards.
6. Status of home ownership
When you fill out a credit card application. There must be a question, ‘current home ownership status’. Because the status of home ownership is very important for banks. Banks certainly prioritize homeowner customers compared to those who are still contracting or groping.
Well, there are six conditions that are considered by banks to raise your credit card limit.
But don’t be discouraged if the bank doesn’t accept your limit increase. The reason, BI reminded that credit card owners understand the credit card limit that must be adjusted to the needs and ability to pay it off.And it’s important to remember, if the credit card is only a transaction tool, not your extra money. So you need to use it wisely too. Do not let you become debt wrapped.