Almost every bank offers its customers credit cards with a limit. The borrower can use the money, and then must return it in due time. The limit is usually renewable, so the client can again withdraw funds from the card. This is very convenient because you can use the money at a convenient time. No need to collect documents, no need to spend extra time. But if you have a credit card, a credit limit can stimulate purchases that are not always needed.
About credit limit
What is a loan limit ? This is the amount of money provided by the bank to the client for permanent use. With the receipt of a banking product, it already has funds on it, so the borrower can withdraw cash or pay for purchases. It is necessary to repay the debt on time in order to avoid unnecessary charges.
Almost every financial institution provides a grace period, including Privatbank. A credit card, the limit of which may initially be small, is used by the client for 50-60 days without interest. The specific conditions in all banks may vary. If you use the service correctly, then the client has the opportunity to profitably withdraw funds more than once.
In case of non-payment of funds in the specified period, interest is accrued. This service has only a credit card. The credit limit may increase over time, but this is set by decision of the bank.
No limit
With the order of the card, the client is given a limit, otherwise its issue does not occur. But there are cards with zero balance. Usually they are debit. For example, such is the Visa Platinum product of Binbank. It is necessary to learn about the features of use and maintenance from the employees of the institution.
This card is considered a debit and credit card, which is provided instantly. When issuing it there are no funds. Within a few days, by decision of the bank, a specific amount is provided, which the client will be notified by SMS or call. Then the card gains credit status. This is exactly what the Corn card is. Euroset makes it possible to profitably borrow money.
Limit sizes
The bank sets a limit depending on the solvency of the client. Here, wages are also taken into account. If a credit card has been issued to a customer, the credit limit may increase over time. This is affected by improved solvency. Usually 50-100 thousand rubles are provided.
When the client is not solvent, the limit is refused. Settlement rules in each bank are different. As a rule, the payment should not exceed 25% of income. Be sure to take into account all expenses of the client. The size of the limit is affected by the ownership of real estate, cars.
Limit increase
If you have a credit card, the credit limit may be increased. In each bank, this is calculated in its own way. For example, in VTB-24, a client submits an application, a statement of income, a document of ownership. Consideration of the application lasts no more than 3 days, after which a decision is made.
Binbank independently makes a decision to increase the amount if the client constantly uses the services and returns the money without delay. Therefore, the limit can be increased with:
- provision of documents;
- constant use of funds.
How to find out a credit limit?
To find out about the amount of the amount provided, you can use the following options:
- you should familiarize yourself with the contract that was issued when contacting the bank;
- the amount is indicated in the check from the ATM;
- the client can order a bank statement;
- There is a convenient online banking service.
Such methods are available with each card, including the "Corn" card. Euroset provides an opportunity to use your personal account. It is convenient to make various payments and transfers from it.
Amount reduction
The amount can be not only increased, but also reduced. This occurs when:
- there is outstanding debt;
- there is a risk of default.
This is carried out unilaterally, as indicated in the contract. If desired, the client has the opportunity to independently reduce the amount. For example, he is provided with 300,000 rubles, and the client does not withdraw such money and is afraid of losing a card. Then he can draw up a statement in which to ask to reduce the amount of funds to the desired amount. Providing a limit is a profitable service, because if necessary, you do not need to look for where to borrow money. It is only necessary to repay the debt on time.