The first thing many cardholders do after getting a credit card is to think about how to increase their credit limit in the future. Moreover, every time a major holiday approaches, commercial banks will increase the credit card limits of some cardholders. So, is it good to increase the credit card limit? What are the consequences?

Is it good to increase the credit card limit?

Improving the credit card limit is not necessarily a good thing. After the bank takes the initiative to increase the limit, it will continue to increase. Several things that cardholders should want to understand are: whether this limit increase is a temporary increase or a fixed increase, how much the limit will be increased, and how long the increase will last.

Industry insiders pointed out that if the bank temporarily increases the limit, but the cardholder still repays the minimum repayment every month, and the temporarily increased limit is overdue, not only will he need to pay an over-limit fee of 5, It may also cause a personal bad credit record, which will affect a series of banking services such as applying for a personal loan.

At the same time, temporary limit adjustments generally last for 45-60 days. Cardholders should understand the credit card regulations of each bank in detail. If a cardholder is unwilling to accept the bank's initiative to increase the limit, he or she can also call the bank's customer service to cancel the limit increase.

In short, the cardholder should make a decision based on his or her repayment ability. Not only that, many banks have begun to take the initiative to upgrade the cards of cardholders from regular cards to gold cards. While enjoying services, cardholders may also have to bear an annual fee of hundreds of yuan for gold cards. Therefore, whether you are increasing your credit limit or upgrading your gold or silver card, you must act according to your ability.