Credit cards have become an essential component of our lives in today’s world. All credit cards have a credit limit, and we are not allowed to spend more than that at any given time. It is, however, not permanent and can be increased if you are eligible for a credit card increase. In this article, you will learn how to Increase HDFC Credit Card Limit.
How do I increase my HDFC credit card credit limit? Or how can I increase the credit limit on my HDFC credit card? This is a common question that many people who have this card have.
Factors for Increase in HDFC Credit Limits
Your credit limit eligibility is determined by a number of factors. This varies from card to card and even from person to person. HDFC Bank makes this decision based on their assessment of your ability to pay.
In order to fix it, HDFC bank considers factors such as your income, credit score, and so on. It isn’t set in stone and can be increased at any time.
Advantages of Increasing Your HDFC Credit Card Limit
If you can afford it and the bank is willing, increasing your credit limit on your card is always a good idea. This will work if you have been successfully using your cards and paying all of your bills on time. The HDFC credit card limit increase SMS has a number of advantages.
1. There’s no need to keep track of multiple credit cards.
If you want to extend the limit on your existing card, you won’t have to maintain several cards. You won’t have to remember several pins, manage multiple payment cycles, keep track of diverse expenses, or remember to pay your bills on time.
2. Better credit scores
Credit ratings place a larger priority on managing the same level of expenses with a higher credit limit. As a result of these enhancements, you will have a higher CIBIL Score.
3. Ease of obtaining further loans
A long history of on-time payments on one card is far more valuable than a credit history with multiple cards. And, if you ask for a credit limit increase when you need it, you’ll have simple access to more money.
4. Useful in times of financial difficulty
Unlike other loans and advances, credit cards provide rapid access to funds. A greater limit can come in handy in the event of a financial emergency or unexpected expenses.
5. Increased prizes
Credit cards are, by their very nature, excellent instruments for customers who spend and pay back their balances on a regular basis. Higher spending limits may result in better rewards and discounts on some products.
Ways to Raise Your HDFC Credit Card Limit?
Here are some suggestions for increasing your card’s limit:
1. Fill out an application for a new Card
To boost your credit limit, you can easily apply for a new card. A limit increase will be automatically applied to your new and upgraded card. You have the option of switching to a card that gives more rewards and benefits than your current one. If you manage your credit carefully, you might be able to receive a new card with additional advantages than your current one.
2. Request for a higher limit
You can ask to have your existing card’s limit increased. However, the amount of the increase will be determined by a number of factors, including your income, credit history, and credit score. If you’re employing many cards, it’s critical to pick the proper one for which you’d like to improve.
3. Provide further details
If your financial situation changes as a result of a wage raise. As a result, you may be eligible for a larger limit. For example, you recently received a raise in pay, but you continue to use your old card with its existing advantages. Simply provide your bank with this information. And request an increase in your credit limit based on your new financial situation.
4. An increase each year
Banks will give you an annual raise if you pay all of your bills on time. This comes with some excellent reward options. As a result, you can take advantage of the annual increase facility. Even if you don’t require one at the time, you never know when you might require one.
5. Boost your credit rating
Your credit limit will be increased if your credit score is higher. Hence, ensure that your credit score is good. Paying all of your EMIs and other dues on schedule will help you improve your credit score. Keeping your expenditures under control might also help you boost your credit score.
So, here’s the answer to the question, “How do I increase my HDFC credit card limit online?”
How do I increase my HDFC Credit Card imit?
The options for “How to increase the limit in HDFC Credit Card” are as follows.
- Use Net Banking to apply.
- Contact HDFC Bank’s Customer Service.
- Go to an HDFC Bank branch near you.
- You receive a call from HDFC Bank.
Increase HDFC Credit Card Limit Online
If your card has a limit enhancement eligibility, you can use HDFC bank net banking to boost it. To learn how to extend your HDFC credit card limit using net banking, follow the simple procedures outlined below.
- To begin, go to the HDFC Netbanking website
- Enter your User ID/Customer ID and Password to log in.
- On the home page, pick the “Cards” option once you’ve logged in.
- Select the “Credit Limit Enhancement” option from the left menu after clicking on the “Request” option.
- You’ll be taken to a new page where you’ll need to input your credit card information. You must pick the credit card number if you have numerous HDFC bank credit cards.Choose the credit card number for which you want to increase the credit limit and click on continue option.
- On the next page, you’ll find your current and eligible limit.
Remember: If you are not qualified for a credit card limit increase, simply click the blue “notify me” button. Once your credit card is eligible for this service, they will send you an SMS or email alert.
The card number will appear on the screen if you are eligible for Limit Enhancement. Here you need to continue to the next step in order to complete the process.
- You’ll see the card details, including the card number, current credit limit, and qualifying limit, on a new page. There is also a place on the page where you must input the ‘New Limit.‘ Replace the old one with the new one in the box provided. It should be higher than your present one and less than or equal to the one for which you are eligible.
- Click the ‘Continue’ button after entering the ‘New Limit.
You will receive a confirmation message once your request has been submitted.If you want to proceed with the revised credit limit, click the “Confirm” button. Your request for a limit increase will be sent to the bank automatically. Following the successful extension of your limit, you will receive a confirmation message from the bank.
- By selecting Account Summary, you may view the card’s updated credit limit. Keep track of the status of your request by writing down the reference number.
There are various alternative options for increasing credit card limits, but the online option is the most convenient. You do not need to go to the bank branch, call customer service, or send a lengthy letter to the bank.
Applying for a limit increase has never been easier.
This is how you can enhance your HDFC Netbanking credit card limit.
By Contacting HDFC Bank’s customer service center
If you do not use HDFC Bank’s net banking service, you can still seek an increase in your credit limit by calling the HDFC Customer Care Number shown below. This service can be availed 24 hours a day, seven days a week. 61606161 / 6160616 / 1800 266 4332 are the HDFC Bank customer service numbers.
By going to your local HDFC Bank branch
You can also speak with a bank official at your nearest HDFC Bank branch to boost your card limit. This is how you may increase your HDFC credit card limit by simply going to a bank branch.
HDFC Contacts You
The bank may contact you by phone, SMS, or email if your existing card is eligible for a limit increase. Accept the offer if you’re okay with the details of the limit enhancement. You may also learn “how to increase my HDFC credit card limit” this way. The email sent by HDFC bank may be seen in the image below.
You can choose to increase your credit limit by going to HDFC’s net banking website. Eligible customers can also text ‘CCACL XXXX (last four digits of their card number) to 5676712′ from their registered cellphone number.
The outstanding balance on your credit card is the total of all unpaid charges billed to your HDFC Card account for a given month. It is made up of the following parts:
Returns On Purchases
The credit limit is the maximum amount of money that can be spent on a credit card. For example, if your credit card has a credit limit of Rs. 25,000, you can only spend and use up to Rs. 25,000.
To calculate your credit limit, most organizations look at your credit records and gross annual income. Issuers look at things like your repayment history, credit history length, and the number of credit accounts on your report, etc.
You will be charged a late payment fee if you do not pay even the minimum amount due on your HDFC credit card. This fee will be added to your next credit card statement. The late payment fee is calculated based on the total amount owed on the card. Finance charges will begin to accumulate on the unpaid debt until it is paid in full. The bank may also suspend any reward points that you have accumulated on your card.
Many credit card companies evaluate accounts on a regular basis and automatically boost credit limits for customers who satisfy certain requirements. However, in order for the limit increase to be added to their existing limit, cardholders must authorize it.