Credit cards are a means to use money that can benefit everyone. There are many benefits offered by using a credit card. Each credit card has certain usage restrictions. Unfortunately sometimes these limits are too small so you cannot use the benefits to the full. This time Puck will discuss ways to increase credit card limits.
Here are 6 moves to increase the credit card limit that you can practice:
Choose a Big Bank
Before having a credit card, choose a large credit card issuing bank. The bank referred to as ‘big bank’ is a bank that has a very large managed fund. In addition, indications of large banks are banks that have many customers, wide coverage areas and ATMs and branches that are scattered everywhere. Large banks will generally be easier to provide high credit card limits for their customers.
Choose a Bank with a Credit Card Core Business
Every bank does have the same concept and purpose, which is related to the financial industry. It’s just that there are several banks that focus on certain products. There are banks that focus on mortgages, SME loans, corporate loans / lending , credit cards, savings, derivative products and so on. In this case, you need a bank that focuses on selling credit card products. This is what banks mean that have a credit card core business . Banks like this will find it easier to increase credit card limits than banks that don’t focus on credit cards. Don’t get me wrong, even big banks will find it difficult to increase credit card limits if they don’t focus on credit card sales.
Use a Credit Card in a Minimum Period of 1 Year
The most important point in determining the eligibility of someone to get a credit card or increase a credit card is a risk profile. The lower your risk of not paying a loan, the easier it will be for banks to provide higher credit card limits. The bank needs to know whether you are a loyal customer or not. To find out it needs to be observed. Therefore you need to provide a means for banks to observe your credit performance. The trick is to use a credit card regularly for at least 1 year. Keep using the credit card and make payments in an orderly manner. If your track record is considered good, it will be easy to increase your credit card limit in the following year. If you never use the credit card, it is certainly difficult for banks to get an idea of your credit performance.
Maximum Credit Card Limit
The reason you want an increased credit card limit is of course because the limit is too low. How can a bank believe that the limit is not enough if you never use the maximum limit? Therefore you need to use the credit card optimally and routinely. At least use 60% of your credit card limit every month. If possible, use 80% or more of your credit card limit. That way the bank will consider your request reasonable.
Pay on-time bills with full payment
As mentioned in the previous stage, the track record is very important to gain bank trust. It is important to orderly pay bills in time with a full payment or full payment. Indeed, banks will not give heavy sanctions if you occasionally pay bills late. But if you aim to increase your credit card limit, it’s best to order your bills in advance. We do not recommend that you use a minimum payment facility because the interest is very high. If you continue to use these services your debt will accumulate and be very difficult.
Fishing Line with Other Credit Cards
If you already have a credit card, you can use it as a reference to register for another credit card. For example if you already have an A credit card, use an A credit card as a reference for making a credit card B. Generally the second bank and so on will give a credit card limit that is automatically higher than the previous credit card. Why? Because if there are no advantages offered, chances are that customers will not be interested. In this case the customer generally expects excess in the form of a higher limit. Credit cards are products that provide relatively large profits for the bank, so it is likely that the bank will offer to keep buying credit card products.
But it doesn’t matter if you don’t immediately get a new credit card with a higher limit. You can try another bank again until you find the highest limit. But do not do this trial and error too long because you will be burdened with a lot of ineffective credit card fees.
Make Sure You Get Extra Limits
The most effective way to get an additional credit card limit is to improve your quality as a customer. In credit card sales, banks play with customer risk. If you get more bank trust, of course it will be easier to get additional credit card limits.
Hopefully you get the benefits of this article. Give your opinion about adding credit card limits that you can use to the fullest without disrupting your finances! You can ask questions in the column below. thanks.