Boost Your Credit Limit: Smart Strategies for Higher Spending Power and Better Scores

• A credit limit is the maximum amount a bank allows you to charge on your credit card, acting as a spending cap.
• Banks determine credit limits based on income, job stability, CIBIL score, debt-to-income ratio, credit utilization, existing debts, and banking relationship.
• To increase your limit, use your card regularly (staying below 30% utilization), maintain a strong credit score (720+), and request an increase from your bank.
• Submitting proof of higher income and building a strong relationship with your bank can also lead to higher credit limits.
• Avoid applying for an increase too soon (wait at least six months for new cards) and check your limit via mobile app, internet banking, or monthly statements.