Many banks offer their clients to use the so-called credit limit. Monobank was no exception. He also prepared favorable conditions for clients to obtain a credit limit. We will find out further what features of the credit limit can be noted. Website https://simplex.in.ua/uk/kredytnyi- limit-monobank/ offers to familiarize yourself with the details of obtaining and increasing it.
What is a credit limit and how to increase it?
Under this concept This refers to the maximum amount of debt that is set by the bank. If you have just decided to become a client of Monobank, you have a credit limit that varies up to 75 thousand hryvnia. If you open a card at this bank and actively use it, you can increase your credit limit. In this case, its amount will be up to 100 thousand hryvnia.
How to get a credit limit inMonobank?
If you need to get a credit limit, you must register in the Monobank application. After this, you need to indicate the desired loan object and wait for approval. If the loan is approved, the limit will be activated on the card. Regular customers can also activate a credit limit. This can be done immediately after registering in the application in the section where cards are presented.
Criteria influencing the formation of a credit limit
- Customer credit rating
- Card payments outside the country.
- Availability of open credit agreements.
Let's consider each item separately. A client's rating is essentially a client's credit history. It is formed from such factors as the presence of late payments, etc. If customers make card payments abroad, this indicates financial literacy and has a positive effect on loan calculations. The fewer open loan agreements a client has, the higher the increase in the loan limit.
Why can Monobank refuse to increase the credit limit?
There are several reasons which may lead to the bank’s refusal to increase the loan limit. For example, if a client has ever taken out loans from microfinance organizations, this may negatively affect the credit limit. The second reason is to reduce the limit. If you've ever reduced your credit limit before, this may have a negative impact on increasing your credit limit.
Experts recommend checking your credit history and making payments on time. It is also necessary to make payments by card while abroad and try not to reduce your credit limits.
