We understand that things change. That's why we've made it possible to increase and decrease your credit limit to make sure it works for you. Changing up your credit limit could be a good way to achieve a goal, but it could also be risky – here's a few things you should know.
Have access to more money
This could be handy if you're planning to book a holiday or buy a big-ticket item
Peace of mind
It could act as a safety net in case an emergency or unexpected expense pops up
Accrue benefits easier
Being able to spend more money means you could make the most of certain perks and benefits with your card
Increasing your limit could:
Stay in control
By limiting the amount you can spend before you have to pay it off, you could find it easier to keep on top of your balance
Accrue less interest
Remember, it's important to pay off your whole balance (excluding any balance transfer amount) by the due date each month to avoid purchase interest
Help prevent debt
Having a lower credit limit could help to prevent extra interest and debt building up long term to a point where it's unmanageable
Decreasing your credit limit could:
