Nowadays in Brazil it is difficult to find who does not have at least one credit card in the wallet.
When well used, it can be the lifeline for those last minute purchases, which were not planned, but can be settled in the following months.
For this you need to have a good credit approved with the financial institution, which is not always easy to achieve.
How to increase?
A lot of people carry the same card for years. Sometimes since the time you opened your account because of your first job. This is exactly why people find it difficult to raise the limit. In general, banks calculate maximum credit according to customer remuneration. So if the card was made when you were still an intern, the limit will probably be low.
Not all financial institutions follow the same criteria when making changes to the limit. Most do not have more than 30% of gross customer income. Private banks usually grant the increase according to the customer profile. So if you borrowed and were a good payer, for example, you will be closer to getting the raise. Public institutions now focus on worker income. Therefore, you will need to attend your agency and prove the change in income.
When to increase?
Before requesting the increase of the limit, it is necessary to evaluate if it is really necessary, otherwise you will be requesting a value that you can hardly repay. After all, the credit works as a kind of loan.
Your purchasing power is higher: it may be worth raising the card limit
With more money in mind it may be interesting to increase the credit card limit. After all, now your purchasing power is another and probably the most expensive purchases and accounts. Raising the limit applies especially to those who want to make large purchases, such as furniture, for example.
If you just got a raise and want to buy new appliances, the card is a good alternative not to compromise the budget of the month. But be aware of the value of the parcels!
You want to accomplish a goal and need payment flexibility
Raising the limit can also be a chance to make that dream trip. Installment in several times, without interest, is much easier than paying everything in sight. But remember: if your limit is $ 3,000, for example, purchases can’t exceed this amount, even if the installments are much lower than that amount.
You need to calculate the total amount, consider whether it is really worth it to achieve that goal, and make a good installment without interest.
Credit cards yield some benefits. The advantages will depend on each financial institution, but overall, the more you use the card, the more points you earn. In some banks, these points can be redeemed for airline miles, shopping vouchers, and other benefits.
So in this case it might also be interesting to raise the limit card – always remembering that you need to have increased your income to be worth it and so you can enjoy all the advantages offered.
Credit card debts are among the reasons that lead most people to have their names included in Serasa and SPC, a problem, especially for those who want to finance a property. or a car, for example. So always be very careful about the credit card and increase the limit if you really can afford it.