What is the credit limit of Punjab National Bank (PNB) credit cards?
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PNB currently offers three distinct credit card products on their website:
PNB Global offers three cards that offer distinctive benefits and annual fees: PNB Global Platinum Credit Card, Gold Card and Classic Card. Each has its own individual set of advantages.
Banks typically base their decision regarding credit card applications on either your Fixed Deposit amount or annual income.
Credit Card Limit Determined by Fixed Deposit: Usually, your credit limit will be set at 80% of its current value.
Credit Card Limit Based on Annual Income: Your income plays an integral role in establishing your credit limit, usually set at 50% of annual earnings.
However, other factors also play a vital role in determining your credit limit, including:
CIBIL Score: A higher CIBIL Score will increase your credibility and, consequently, credit limit. Income Pattern: Stable income patterns could positively affect your credit limit. Job Profile: Your profession and job security will also be taken into consideration.
Hey bro, here’s what you need to know about the credit limit of Punjab National Bank (PNB) credit cards:
What’s the Credit Limit on PNB Credit Cards?
The credit limit is the maximum amount you can spend using your PNB credit card. It depends on your income, credit score, and the type of card you have. Premium cards have higher limits, while basic cards have lower ones.
What Affects Your Credit Limit?
Credit Score: Higher score = higher limit.
Income: The more you earn, the higher the limit.
Existing Debts: More debt = lower limit.
Card Type: Premium cards offer higher limits.
Relationship with PNB: Long-term customers may get better limits.
How to Manage Your Credit Limit Smartly:
Keep Your Usage Below 30%: Don’t spend more than 30% of your limit to keep your credit score healthy.
Pay on Time: Always clear your bill on time to avoid penalties and lower limits.
Check Statements Regularly: Keep an eye on spending and any suspicious activity.
Request a Limit Increase: If your income improves or you need a higher limit, ask the bank.
Types of PNB Credit Cards and Credit Limits:
PNB Global Platinum: ₹2-5 lakhs
PNB Pride Platinum: ₹1-3 lakhs
PNB Classic: ₹50,000-1.5 lakhs
PNB Rupay Select: ₹75,000-2 lakhs
How to Check Your PNB Credit Limit:
Online Banking or Mobile App: Log in and check under the credit card section.
Monthly Statements: Your credit limit is mentioned there.
Call Customer Care: They can tell you your limit anytime.
Need a Higher Limit?
If your current limit isn’t enough, you can request a limit increase by:
Submitting a request online or at a PNB branch.
Providing proof of income.
That’s it, bro! Just stay on top of your spending, and you’ll be good to go.