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How do I know my credit card limit based on salary?
#1 Your Income/Salary: Usual credit limit is 2X or 3X of your monthly income. Suppose your salary slip shows Rs. 50,000 per month, you can expect Rs. 1 Lakh – 1.5 Lakh credit limit.
What is the salary limit to get credit card?
Salary is a crucial deciding factor for credit cards. Someone earning say Rs 50,000 per month is eligible for a different type of card than a person earning Rs 25,000 per month. On an average, income requirement is between Rs 1,44,000 and Rs 25,00,000 per annum for both salaried persons and self-employed.
What is the credit card limit for 25000 salary?
Best Credit Cards in India for People with Income Below Rs. 25,000
| Credit Card | Annual Fee | Minimum Monthly Income |
|---|---|---|
| BPCL SBI Card | Rs. 499 | Rs. 20,000 |
| HDFC Easy EMI Credit Card | Rs. 500 | Rs. 10,000 |
| HDFC Times Titanium Credit Card | Rs. 500 | Rs. 15,000 |
| ICICI Bank Coral Contactless Credit Card | Rs. 500 | Rs. 20,000 |
How do you calculate credit limit?
To calculate it, divide the total amount of your credit card balances by your total credit card limits. If your credit utilization is above 30\%, you may find that increasing your credit limit can give your credit scores a boost.
Which bank gives credit card with low salary?
Top 10 Credit Cards on Below AED 3000 Salary in UAE Emirates NBD Lulu Mastercard Titanium Credit Card. Emirates NBD U By Emaar Family Credit Card. RAKIslamic Gold Credit Card. RAKBANK Red Matercard Credit Card.
How do credit card limit limits work in India?
Let’s take an example: Say you want to purchase a laptop worth Rs 60,000 but your credit card limit is only Rs 50,000. You can overpay the card with the excess amount, that is, Rs 10,000, so you have a negative balance. That way, when you make a purchase that exceeds your card’s limit, it won’t max out.”
What are the limits of HDFC credit card?
Beginner & Premium HDFC Credit Card Limits: HDFC Moneyback Credit CardLimit: Rs.25,000 – Rs.1,50,000 HDFC Allmiles Credit CardLimit: Rs.1,00,000 – Rs.2,50,000 JetPrivilege HDFC BankWorld Credit Card Limit: Rs.2 Lakhs – Rs.5 Lakhs HDFC Regalia Credit CardLimit: Rs.2 Lakhs – Rs.5 Lakhs
How is the credit card limit determined?
The credit limit is determined on the basis of various factors including income, credit profile, credit worthiness etc. Normally, the credit card limit is set by the issuer at the time of issuing the card, but the limit can be revised periodically depending on the card holder’s repayment history, credit score, income, and so on.
What is the credit limit for self-employed in India?
Suppose your salary slip shows Rs.50,000 per month, you can expect Rs. 1 Lakh – 1.5 Lakh credit limit. For self-employed, suppose you’ve filed an income of Rs.5 lakhs for last financial year, you can expect 1 Lakh – 2 Lakhs as credit limit as Business cards usually gets better limit for obvious reasons.