A variety of factors are considered when determining your credit limit, including your credit score, your credit reports, and your credit card application.
Here are some questions to consider about factors that could impact your credit limit.
Payment history:
- Do you pay your bills, including monthly credit card bills, on time?
- Have you ever filed for bankruptcy or had a debt sent to collections?
Accounts:
- How many accounts do you have open?
- What kinds of loans do you have open?
Account history:
- How long have you had your accounts?
- Have you applied for multiple new credit products recently?
Debt:
- How much do you owe?
- How much credit are you using?
- How much money do you have available?
Income:
- Do you make enough money to cover your monthly bill?