How To Increase Credit Card Limit For PNB Online & Offline?

Punjab National Bank (PNB) provides various services to its customers. One of its primary services is its credit card facility, which enables you to go shopping, travel, or enjoy entertainment. 

Nevertheless, when you apply for a PNB credit card, you should know its credit limit. Punjab National Bank determines the credit limit by considering multiple factors, just as other banks do. If you wish to increase your credit limit, read this article to learn about PNB credit card limit increase.

How is the PNB Bank Credit Card Limit Decided?

PNB decides your credit card limits by considering multiple factors. The following are some factors the bank considers to determine your credit limit:

• Income Level

Usually, it is ideal to have a higher income level when you apply for a PNB credit card. A higher income level gives you a better chance of getting a PNB credit card with a higher limit. 

• Debt Level

It is crucial to keep track of your debt level. If you have a low debt-to-income ratio, the bank will doubt your creditworthiness and grant you a lower-limit credit card. Hence, it is crucial to maintain a good debt-to-income ratio when applying for a PNB credit card.

• Credit Score

When you apply for a PNB credit card, the bank officials will check your credit score. A high or good credit score is the key to getting a credit card with a higher limit. On the other hand, a low credit score reduces your chance of getting a higher-limit credit card.

• Credit Limit of Other Banks

When you have credit cards from other banks, the PNB officials will consider the credit limit of the existing cards. It will help them determine your creditworthiness and grant you a card with the same or higher limit.

How Can I Increase my PNB Credit Card Limit?

You can increase your PNB credit card limit through online and offline modes. Here are different ways of how you can do it:

Through Net Banking

Here is a simple step-by-step guide to increasing your PNB credit card limit via net banking:

Step 1: Visit the Punjab National Bank website and log in to your banking account using your credentials. 

Step 2: Open the ‘My Accounts’ section and select your PNB credit card.

Step 3: Select the ‘Manage Card’ option.

Step 4: Choose the ‘Card Limit Increase’ option.

Step 5: Set the limit and click on the ‘Submit’ option to confirm the limit increase.

Through Mobile Banking

Below are the steps to increase your PNB credit card limit via mobile banking:

Step 1: Download and install the PNB mobile banking app.

Step 2: Log in to the PNB mobile banking app using your credentials.

Step 3: Click on the ‘Service Request’ option and select the ‘Change Card Limit’.

Step 4: Select the credit card, set the card limit and click ‘Submit’.

Through Phone Banking

You can increase the PNB credit card limit by calling customer care at 1800-180-2345 or 0120-4616200. Once you call this toll-free number, you must request the executive to increase your credit card limit. The official will guide you through the process of a PNB credit card limit increase. 

By Visiting the Branch

Another way to increase your PNB credit card limit is to visit the nearest bank branch. Once you submit your documents and request a limit increase, the bank will process it. Nevertheless, the bank will increase your credit card limit if your income is good and you have made timely payments of your credit card dues. 

How Does the PNB Credit Card Limit Affect Your Credit Score?

When you increase your PNB credit card limit, your creditworthiness will also increase. Furthermore, the way you use your PNB credit card affects your credit score. If you keep using your credit card for small payments and pay the dues on time, the limit increase will not affect your credit score negatively. 

Every month, the bank reports the credit utilisation ratio and the credit limit to the credit bureaus. It helps the credit bureaus calculate your CUR, and most bureaus recommend keeping CUR below 30% to maintain good creditworthiness. Moreover, if your CUR is low, indicating your credit score is high and vice versa.

Why Should You Increase Your PNB Credit Limit?

There are multiple benefits to increasing your PNB credit card limit. They are as follows:

• Improved Credit Scores

Increasing your credit card limit and managing the same expense level lowers your credit utilisation ratio. A lower CUR indicates your higher creditworthiness and improves your credit scores. 

• Easy to Manage

When you increase your PNB credit card limit, it reduces your burden of managing multiple credit cards. It limits your hassles of tracking and managing expenditures of different cards and making timely payments of dues. In short, you can plan, monitor and control your expenses through a single card. 

• Access to Get More Loans

As timely payments of credit card dues over a long period add to your creditworthiness, it enables you to get loans easily, without hassles. Hence, it is better to have a credit card limit than splitting your expenses over new and old credit cards to get more loans. 

• Useful During Emergencies

During emergencies, a PNB credit card with a higher limit will come to your rescue. As a financial tool, the credit card will offer you easy access to capital, unlike other loans and advances. 

You can opt for a PNB credit card limit increase via online and offline modes. The limit increase helps you increase your credit score, makes you eligible for higher loans on credit cards and enables you to get a higher-limit credit card. However, the bank will scrutinise your credit score and creditworthiness before approving your request for a higher credit limit. 

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