Increase the limit of your credit card

Who determines the credit card limit?

When you request a credit card towards a financial instituion, this last one will study your solvability in order to determine the maximum limit of the card. This limit depends on:

• Your income: the limit will varies between 1,000 Chf (low income) to 3’000 – 5,000 Chf (high income).
• Your credit history: in case of bad history (notified to the ZEK, see here), your limit can be lowered, or your credit card refused.

Once the limit of your Visa / Mastercard is determined, it won’t be automatically adjusted if your financial situation changes. Thus, it is up to yo to ask for a limit increase for your credit cards.

Rise the limit of your Visa / Mastercard

There are two kinds of limit rising: the permanent rising, and the temporary rising.

• The temporary rising is an increase of your limit for 1-2 months maximum. This solution is useful if you need your Visa or Mastercard for holiday or if you are planning to buy something expensive using your credit card.
• Permanent rising, as its name suggests, is a permanent rising of your credit card limit.

Ask for a limit increase

You can ask for a limit increase either by mail or directly by internet for some financial institutions. In order to ask for an increase:

• Temporary increase: you should justify the need for an increase, for example announcing holiday.
• Permanent increase: for this kind of increase, the financial institution will probably ask for your last salary slips in order to check your financial situation.

Article written by Multicredit