Almost every bank offers its customers credit cards that have a limit. The borrower can use the money and must then return it in time. The limit can usually be extended so that the customer can withdraw money from the card again. This is very convenient because you can use the money at a convenient time. No need to collect documents, no need to spend extra time. But if you have a credit card, the credit limit can encourage purchases that are not always needed.
About credit limit
What is a credit limit? This is the amount of money that the bank makes available to the customer for permanent use. With the receipt of a bank product, it already has funds so that the borrower can withdraw money or pay for purchases. It is necessary to repay the debt in good time to avoid unnecessary provisions.
Virtually every financial institution grants a grace period, including a private bank. A credit card, the limit of which may initially be small, is used by the customer for 50 to 60 days without interest. Specific conditions in all banks can vary. If the customer uses the service competently, the customer has the option of withdrawing funds profitably more than once.
Failure to pay funds in the prescribed period will result in interest. This service only has a credit card. The credit limit can increase over time, but this is determined by the bank’s decision.
When ordering the card, the customer receives a limit, otherwise the release does not occur. But there are zero balance cards. Usually they are debited. For example, this is the product of Visa Platinum Getbond Bank. It is necessary to learn from the staff of the facility about the particularities of use and maintenance.
This card is considered a debit credit, provided immediately. When spending her no money. The bank’s decision provides a certain amount for several days, and the customer is notified of this by SMS or call. Then the card receives the credit status. This is the “Corn” card, “Euroset” makes it possible to put money in debt.
The bank sets a limit depending on customer solvency. It also takes wages into account. If a customer has been issued with a credit card, the credit limit may increase over time. This is affected by improved solvency. Usually provided 50-100 thousand dollars.
If a customer is not solvent, Limit rejects. Calculation rules in each bank are different. As a rule, the payment should not exceed 25% of the income. Be sure to consider all of the customer’s expenses. The size of the limit affects the content of ownership of real estate, cars.
If there is a credit card, the credit limit can be increased. In each bank it is calculated in its own way. For example, in the client sends an application, certificate of income, a document of property. The examination of the application does not take longer than 3 days, after which a decision is made.
Getbond Bank independently decides to increase the amount if the customer uses the services continuously and returns the money immediately. The limit can therefore be increased if:
- the provision of documents;
- continuous use of funds.
How do I find out the credit limit?
To find out the amount of the amount provided, you can use the following options:
- You should familiarize yourself with the contract that was issued when you registered with the bank;
- the amount is shown on the ATM check;
- the customer can order a declaration from the bank;
- There is a convenient online banking service.
Such methods are available with any card, including the Corn card. Euroset offers the possibility to use a personal account. It is convenient to make various payments and transfers.
Reduce the amount
The amount can not only be increased, but also reduced. This happens when:
- There is outstanding debt;
- There is a risk of bad debts.
This is done in a one-way mode specified in the contract. On request, the customer can reduce the amount himself. For example, he receives 300,000 dollars, and the customer does not withdraw this money and is afraid of losing the card. Then he can make a statement asking to reduce the amount of funds to the desired amount. Providing a limit is a profitable service because you don’t have to look for money sources if you need to. It is only necessary to repay the debt in good time.