HOW MUCH IS THE MAXIMUM LIMIT OF CREDIT CARD?

By – S Subhasmita Rout

Now a days credit card has become a basic requirements of life .It plays a important role in economic of
the world. Many uses credit card for shopping ,travel,medical emergency shopping sites are offering
extra discount on credit card to grab customer attention.Before having a credit card,the customer or
user should have all the important information about the credit card.The limit of the card and the type
of credit card can be issued based on the customer’s eligibility of the bank.

Every bank has already set a limit for purchase from the credit card.It depend on particular card type
and the bank.Beyond which you can’t spend the amount .Example a bank has limit of Rs 30000 ,you
have spend Rs 15000 .So the credit card limit at that particular time is Rs 15000. Credit card provide you
with financial freedom with a cap in it.

If you are applying for a credit card in bank ,the bank will consider factors liks your annual income,your
loan details.,your previous credit history ,your age,your employment status,and yiur score to determine
your credit card type and your credit limit for the card.IF you are issuing your first credit card you will
have less credit card limit and gradually it can be increased by many ways.You usually can’t classify the
maximum or minimum credit limit.As it depends on various factors likes Your annual salary.Usually the
limit of card is 2X or 3X of your income suppose your income is 1 lakhs .So,your credit will be between 2
to 3 lakhs .The business card have more limit than the ordinary card.Your credit card limit can also we
increased by your credit score.If you use your credit card more offer within your limit ,this will lead to
increased of your credit score .Thus you can refer to your bank and increase your credit limit with the
score.If you pay your bill time to time this will increase your credit score.Infact if you have bank account
s,FD or RD in the particular bank,the chance of more credit card limit.Applying for a new card with
higher credit limit than your credit card to increase credit card limit

Here are some best credit cards :-

1.HDFC’S money bank credit card- This is refer as the best credit card for beginners.It has the eligibility
of having monthly income of More than Rs 15000.With Annual fee of Rs 500+Gst.Which as limit of about
Rs 25000 to Rs 150000

2.HDFC diner Club bank card- It provide the user with high credit limit of 4 lakhs.It is suitable for
business profile.It have more annual fee than usual.You should have eligibility for the issue of this type
of credit card.

3.Indus lnd bank Pioneer legacy card – which have zero annual fee and it is the best card to be used for
all time.

4.SBI card prime – It provide you with welcome voucher like rs 3000 e- gift.Which you can shop from
many branded shops like Pantaloons.It also provide with 4 free international and 8 free domestic airport
lounge visit .

5.American express plantium Travel card – It provide the user with limit of 4 lakhs per annum.It is the
best card to be used for personal needs.
6.HDFC infinia credit card- yes as the name sound it has limit of 8 lakhs and above.

There are many Benefits of increasing the credit limit on your card.Like it really makes easier for you get
loan .During the time of emergency like medical emergency you can use the money for the best.
Considering the case of covid -19 health insurance and credit card really played a vital role in saving my
lifes and paying the heavy bill of the hospital.It also lowers your credit utilisation ratio.you have interest
free cash withdrawal.Discounts and cashbacks offers from many sites.Easy method of transaction.But
you need to have patient and wait for the increasing in limit of your credit card.

But remember you are the one who knows which credit card is best for you.Refer your bank officials
before issuing a credit card.Not all card have all the benefits.So choose your card wisely.