Your credit card limit is the maximum amount that you can access through your credit card. Having a higher credit card limit has its pros and cons. Many might think that a credit card with higher credit limit might persuade them to use the card more, and they may end up with a heap of debt that needs to be cleared off at the end of the month. However, a higher credit card limit also proves to be helpful in case of emergencies and overseas purchases. It all depends on how you utilise the credit limit on your card.
If you are looking to increase your card limit, read the pointers given below to know how you can do it.
When to request an increase on a credit limit
You can request for an increase in your credit limit, if your salary or income has increased. Here, you can ask for a boost in your decided limit if you are looking to improve your buying power through your card.
If you are looking to improve your credit score, you can consider increasing your credit limit. When you increase your credit limit and keep your expenses as before, your credit utilisation ratio will be healthy and you can end up obtaining a good credit score.
Ways to increase your credit card limit
- Put in a request to your bank: Make a request to your bank regarding a raise in your credit card limit. You can call your bank representatives or submit an application to your bank in person. You can also make the request online. When you make a request, the bank checks your credit history and credit score through Central Credit Reference Information System (CCRIS), before taking an action on the request. You end up getting an increase in your credit limit if your request is approved.
- Use your card more frequently: The more you use your credit card, the better your credit score would be, provided you have a disciplined payment cycle. To convince your bank for an increment in your credit limit, you should spend more on your card and repay on time. This will help you score well in your credit assessment.
- Apply for a new credit card: This is an easy way of increasing your credit limit. You can apply for another credit card that has a higher credit limit, in the same or a different bank, instead of asking for a credit revamp on your current card. You need to be cautious while doing this because if you already have multiple credit cards, getting one more may affect your credit score negatively.
- Use the card overseas: Banks charge a good amount of markup fee on each of your foreign transactions outside the country. This fetches more income to the banks. Thus, if you are a frequent traveller and spend often in foreign countries, you can utilise your card more, in an attempt to convince your bank for a better credit limit.
- Get a card against your fixed deposit: If your bank offers credit card on a fixed deposit account, make the most of it and apply for a new credit card with a higher limit against your security deposit. The FD account works as a collateral here and hence, the bank might agree to your request more easily. As the credit limit for a secured credit card is decided as per the value of the fixed deposit, you can get a higher limit on a bigger FD amount.
- Ask for a credit card update: Check with your bank to see if you can get an updated credit card against your already existing card. If you have a good payment history, the bank will provide you an upgraded credit card against the previous one.
- Wait for automatic increase of your limit: Banks tend to offer a voluntary boost in credit card limit to its old customers. You can choose to wait for such a period and opt to increase your limit when it is offered by the bank itself.
- Do not apply incessantly: After making all the attempts to increase your credit limit, if nothing materialises, be patient and wait for a while before applying again. Study the reasons for which you have been denied the request and work on them before applying afresh. Haphazard attempts will not get you an increased limit on your card.
Disadvantages of Increasing Your Credit Limit
- An increased credit limit means increased temptation. You might end up spending more on your card than you could afford.
- You might end up in a pile of debt. If you do not utilise your credit limit in a financially secure way, charging more to the card may put you in severe debt at the end of the month.
- With the increase in debt, it may prove to be difficult for you to get a personal loan or mortgage scheme, even when you have an amplified credit limit.
Increase Your Credit Card Limit for Top Banks in Malaysia
Using a value-added service on your CIMB Credit Card, you can increase your credit limit. Here’ how you can do it.
How to Increase CIMB Credit Card Limit
- Call the bank representatives on 03 6204 7788 and they will guide you further about the procedure.
- You can also go to the bank’s official website and fill in an application form. Click Here to view the form.
- Email the duly filled form to the bank to email@example.com.
- You can also fax the form to 03-2381 7198.
- You can also visit your nearest CIMB branch and submit the forms to the bank representatives. While submitting the form, you need to attach a required set of documents with it.
|Variable Income Earning Applicants||
Maybank Credit Card allows you to align your income with your credit card limit and we can temporary increase credit limit in Maybank whenever necessary. You can do this by following the steps given below.
How to Increase Maybank Credit Limit
- Download the Credit Limit Increase Form via the official website of the bank. The form is available in both English and Bahasa Malaysia.
- Fill in the form with all the required information and attach the mandatory documents with the form.
- You can submit the application form to any of the nearest Maybank branches.
- You can also email the form to firstname.lastname@example.org.
- Fax the application form to 03-7953 8640.
- If it is convenient for you, you can also post the application form on the following address:
Maybank Card Centre,
7th Floor, Menara Maybank,
100 Jalan Tun Perak,
50050 Kuala Lumpur.
|Commission Earning Applicants||
Depending on your requirements, UOB Credit Card offers to increase your credit limit permanently or temporarily. You can choose any out of 2 plans available for the credit limit increase.
Permanent Line Adjustment (PLA): Get a new credit limit which is suitable to your income and lifestyle.
Temporary Line Adjustment (TLA): Credit limit validity of 30 days for emergencies or to settle payments for your purchases.
How to Increase UOB Credit Limit
- Call the bank’s 24-hour Contact Centre and request for a temporary or permanent credit increase.
- Then fax in your income related documents to 03 2690 0121.
- If you need to reduce your credit card limit, you can contact the bank’s Call Centre.
You can increase your RHB credit card limit both permanently and temporarily by following the steps mentioned below.
How to Increase RHB Credit Limit
- You need to download a form from the official website of the bank.
- Fill in all the details in the form duly and fax it to: 03 2026 1939.
- You can also mail this form to the bank’s office on the following address:
RHB Bank Berhad Cards and Unsecured Business Credit Card Application Unit
Level 4, No. 75,
Jalan Tun H.S. Lee,
50000 Kuala Lumpur.
- If you need any further information, you can call RHB PhoneBanking on 03 9206 8118 (Peninsular Malaysia) or 082 2761 118 (Sabah and Sarawak).
|Commission Earning Applicants||
Depending on your needs, you can increase the credit limit of your Public Bank card. Here’s how you can do it.
How to Increase Public Bank Credit Limit
- To put a request to increase the credit limit on your Public Bank credit card, you can call the Customer Service Department on 1-800-22-5555 or PB Card Services on 603-2176 8000
- You can also register your application through email by sending a request to email@example.com or on firstname.lastname@example.org. The customer service executives will later assist you regarding your application.
By providing valid income documents and with the bank’s approval, as a principal credit cardholder of AmBank, you can request to increase or decrease your credit limit. Your credit limit can be increased both permanently as well as temporarily.
How to Increase AmBank Credit Limit
- Go to the official website of AmBank and fill in the form given there. Click Here to view the form.
- You need to fill in details including your personal information, account number, etc.
- You can also visit your nearest branch and talk to a Personal Banker of the bank who can guide you regarding the further procedure.
|Fixed Income Earning Applicants with Variable Income||
|Commission Earning Applicants||
Citi Credit Card also allows temporary increase in credit limit (TICL) as well as permanent increase in credit limit (PICL) facility to its customers. Additionally, you do not need to present any documents to facilitate temporary credit increase on your card.
How to Increase Citibank Credit Limit
- To increase your credit card limit permanently, you need to fill the application form available on the official website of the bank.
- You can email the form by attaching a set of necessary documents to email@example.com.
- You can also mail/post the application form and documents on the following address:
Citibank Berhad (297089-M)
Bankcard Credit Initiation Department,
Level 9, Menara Citibank,
165, Jalan Ampang,
50450 Kuala Lumpur.
- To increase your credit card limit temporarily, you can visit your Citibank Online account and click on ‘Temporary Credit Limit Increase’ tab under ‘Card Services’.
- After filling all the details such as, your preferred limit, effective date, etc., submit the form.
- If your request is granted immediately, you will see the latest update in your account.
- You can also make an application for temporary increase via CitiPhone.
- You just need to contact the CitiPhone Banking on any of the following numbers:
04 296 0000 (Penang)
03 2383 0000 (Kuala Lumpur)
09 509 0000 (Kuantan)
07 268 0000 (Johor Bahru)
06 852 0000 (Melaka)
1800 82-1010 (Sabah and Sarawak)
For increasing your credit limit permanently, you will have to present any of the following documents:
- Last 3 months’ salary slips
- EA Form (Issued within last 1 year)
- EPF Statement (Issued within last 1 year)
- Latest BE/Borang B with LHDN receipt or tax payment details
Q. Can I request an increase in my credit card limit online?
A. Yes, you can write an email to your bank and request for an increase in your credit limit. The bank representatives will reach keep you updated on the status of your request.
Q. Do I need to fulfil any eligibility criteria when I apply for an increase in my credit card limit?
A. There is no set eligibility criteria for making an application regarding credit limit. The approval or disapproval of your request depends upon your banking habits and credit assessment.
Q. Will the bank check my credit score before revamping my credit limit?
A. Yes, your request goes through a credit assessment conducted by the bank along with Central Credit Reference Information System (CCRIS). Getting an approval for your request also depends upon your income and spending habits.
Q. Can I obtain a credit limit boost if my income has grown as a self-employed individual?
A. If you are a self-employed individual or businessman and you are looking for an increment on your credit card limit, you should present your income related documents to the bank when you make the application. Considering the flow of your income, the bank will decide if you can get an increased credit limit or not.
Q. How can I improve my credit score after an increment in my credit limit?
A. By keeping your expenses at the same level as before, the increased credit limit would mean that you utilise your total credit limit much lesser than before. As such, you would have a favourable credit utilisation ratio which in turn would result in an improved credit score.