Your HDFC credit card offers a credit limit that is usually 2-3 times your net monthly income. You can find it on your credit card statement or on the customer support portal.
If you are approved for a credit card, the issuer will provide you with a limit based on your credit score, your income and the amount of debt you have. This limit is printed on the welcome letter you receive with your card and also can be found in the online account management portal. If you have any questions about your credit limit, you can contact HDFC Credit Card customer service.
What is a credit limit on credit cards?
The credit limit is the maximum amount of credit that a financial institution extends to a borrower. A credit limit may be specified in terms of a monetary value, as with a credit card, or in terms of a line of credit, as with a home equity line of credit. The credit limit is part of the credit agreement between the borrower and the lender.
Your credit limit is based on your credit score, your income and your debt-to-income ratio.
The best way to get a higher credit limit is to improve your credit score. You can do this by paying your bills on time, keeping your credit utilization low and by maintaining a good history of credit use. Some issuers will automatically raise your limit as you demonstrate responsible credit behavior.
What is a cash limit?
Your cash limit is the maximum amount of cash you can withdraw from an ATM using your HDFC Credit Card.