When you make your card payments in a timely and fulfilled manner, that is, you do not show any arrears and often pay more than the minimum, it is normal for your bank to contact you to offer you an increase in the credit line, which means You will now have more credit available on the card.
However, it is not always convenient to accept this increase, since as it implies more benefits, it also implies greater responsibilities. For example, if you increase your credit line, the minimum payment amount will also increase, which means that keeping up with payments will be a bit more complicated.
Four good circumstances in which it would be convenient to accept the increase are the following:
If there was a salary increase
If you were granted the long-awaited increase, you don’t have many outstanding debts and regularly use the credit, then increasing your line would be a good idea. With this increase in the money received, you will be covered for any “unforeseen” expenses you make with your card.
If there is a new source of income
Perhaps they did not increase their salary, but they did start working freelance elsewhere or started a small business that so far goes stably. A new source of income is also a free letter if we want to increase our credit, since it works as a backup.
If you canceled other cards
If you realized that the other cards you had did not suit you and decided to keep the one that gives you the greatest benefits, accepting the increase in the line is not a bad idea, since it is the only card which she will use and all payments will be destined to her.
Of course, you should choose the card with which you will stay, and for that there is no better tool than the Wenjie Banal credit card comparator , so you can compare and request the card that has what you need in one place.
If your current line is small and the increase does not imply risks
If you do not have outstanding debts, you are a frequent buyer via credit and have some liquidity that allows you to assume it, the increase could suit you.
Again, it does not mean that it is necessary to request a credit increase, but if it were offered and you are in these circumstances, accepting it is not a bad idea.