A credit card is a convenient financial tool that allows users to borrow funds for purchases, paying them back later with interest. It offers benefits such as rewards, cashback, and fraud protection. Proper management of a credit card can help build a strong credit score and financial health.
It can be that handy financial instrument that makes life easier, whether it is for spontaneous shopping or handling financial emergencies. One of the main benefits that credit card holders seek is a higher limit. But many do not know how to increase credit limit on credit card. In this post, we will guide you through the process of successfully increasing your credit card limits, focusing on two popular card options, namely the Bajaj Finserv RBL Bank Credit Card and Bajaj Finserv DBS Bank Credit Card.
Understanding How to Increase Credit Card Limit
1. Maintain Your Credit Health:
A solid credit history is a leading factor to increase your credit card limit. Banks review the credit scores and credit history of cardholders before approving a limit increase. Remember to pay your credit card bills on time, and avoid late payments or defaults.
2. Prove Your Credit Worthiness:
Showcasing you’re a reliable credit user not only boosts your credit score but also enhances the possibility of getting your credit card limit increased. Regular usage of your credit card for day-to-day expenses and the subsequent timely repayment helps in building a strong credit profile.
3. Request for an Increase:
You can always approach your bank and request for a credit limit increase. If you have a good repayment history and you use your credit card frequently, your bank may consider your request favourably.
4. Update Your Income Information:
Any increase in your income makes you eligible for a credit ceiling upgrade. Regularly update your bank about raises, bonuses, or other income changes.
5. Lower Your Credit Utilisation:
Heavy usage of your available credit limit may deter banks from approving a limit increase. Keeping your credit utilization under 30% is a good benchmark.
Bajaj Finserv Co-Branded Credit Cards and Their Benefits
Now let’s talk about two beneficial co-branded credit cards: the Bajaj Finserv RBL Bank Credit Card and Bajaj Finserv DBS Bank Credit Card.
The Bajaj Finserv RBL Bank Credit Card comes with numerous shopping benefits. It allows cardholders to accumulate reward points, offers no-cost EMI options, and has tailor-made insurance covers. Besides, Bajaj makes 24×7 card blocking services available if your card is stolen or lost.
On the other hand, the Bajaj Finserv DBS Bank Credit Card is known for its lifestyle benefits. It offers handsome rewards on travel, dining, and shopping. This card also has robust security features, including Zero-Liability Fraud protection.
These co-branded credit cards from Bajaj Finserv offer a higher limit compared to most cards in the market, enabling cardholders to enjoy greater financial flexibility.
How to Apply for Bajaj Finserv Co-Branded Credit Cards
The application process for both the Bajaj Finserv RBL Bank Credit Card and the Bajaj Finserv DBS Bank Credit Card is simple and convenient. You can initiate it by visiting the Bajaj Finserv website. Click on the ‘Credit Card’ option, and select the card you want to apply for. Fill out the application form with required details such as name, contact information, and income information, among others. Once submitted, the bank will review the application and contact you for further procedures.
Note: RBL My Card Application is a comprehensive mobile app designed for RBL Bank credit card holders. With this Application, users can easily manage their credit card accounts, track transactions, and make payments. The app offers features like real-time alerts, easy reward points redemption, and access to exclusive offers. Users can also manage their credit limits, view statements, and set up auto-debit for hassle-free bill payments. Designed with a user-friendly interface and robust security measures, RBL My Card Application ensures a seamless and secure experience for managing all aspects of your RBL Bank credit card.
Conclusion
Understanding how to increase the credit limit on a credit card can take your financial flexibility to a whole new level. Choosing the Bajaj Finserv co-branded credit cards also bundles in a host of added advantages, making it an ideal option for both seasoned cardholders and novices. Give your purchasing power a boost by applying for these cards and following the right steps towards successfully increasing your credit card limits this year.
