CreditInfobySakshi

A complicated procedure known as underwriting, which is based on mathematical formulas, extensive testing, and analysis, is how financial institutions determine your credit limit . The procedure's specifics are kept confidential because that is how the business generates revenue. The main issue is that this method of calculation assists the business in deciding who to approve, at what rate, and within what limits. The greater the credit limit, the more the lender expresses confidence in the borrower's ability to repay the debt. What is a Credit Limit? The credit line provided by a credit card issuer to its cardholders is known as the credit limit. This credit limit, which is also known as a credit line, is established after an application is accepted depending on the consumer's credit quality and can rise over time with wise card use. Customers can also ask for progressive credit line increases to better suit their needs. The criteria used by various credit card compani

  Many people's lives today depend on their credit cards in one way or another. And the presence of a credit card limit is one of the realities people must face. You know that you are not permitted to use your credit card permanently. There is a predefined credit card limit that you are not allowed to spend beyond. Your ability to make purchases may be restricted as a result.  Types of HDFC Credit Card Limit Here are the three different types of HDFC bank credit card limits that can be obtained: The total credit limit on HDFC Cards Your HDFC Credit Card's total credit limit is the highest amount you are permitted to borrow. The limit will be reduced each time you make a payment by the purchase amount, and it will be restored as soon as you make a credit card payment. Available Credit Limit for HDFC Cards The amount of credit used for purchases as of the specified date is known as the available credit limit. As an example, if you have an HDFC card with a credit limit of 2 lakhs