Your Axis bank credit card limit may depend upon various factors.
Some of these factors are Axis Credit Card Limit:
Credit History:
This is one of the most crucial factors for evaluating your credit card limit. A good credit score signifies that you can repay the credit on time and have been consistent with the repayment. Thus a higher limit may be offered to you for your credit card. If you are availing a credit card for the first time the limit available to you may be less and there is no prior credit history.
Income and Debts :
The income debt ratio is described as how you manage the debts with the given source of income. Availability of a credit card is an important tool to assess the capability of the individual to repay the debt with the given income.
There are three types of limits that are offered on your Axis Bank cards
Total Credit Limit:
This is the total amount that you can spend on your Axis bank Credit card. The total limit decreases as you use the credit card and gets restored while you pay the bill monthly. If the total limit is Rs. 1 lakh then, the maximum amount that you can spend on your card is Rs. 1 lakh.
Available Credit Limit:
This limit is a credit limit that is available to you on a specified date while using the card. For example, if the total credit limit is Rs. 1 lakh, you have already spent Rs. 60,000 then the available credit limit is Rs. 40,000.
Card Cash Limit:
This is called the limit that one can encash as a part of the total available credit to them in case of emergencies. However, there are charges that are levied on withdrawing the cash amount. Generally, 20%-40% is available as the cash card limit for credit cards.