For many Brazilians, the credit card limit is not compatible with their expenses, that is, expenses below what the customer normally consumes in the month. With the growth of its services, the Nubank digital account became one of the most sought after for requesting a credit card.
Financial institutions consider a number of factors before granting a limit to their customer. The analysis is not only done on the person’s income, but also on general information about their credit history. Many people don’t understand, but a Credit line works like a loan.
Understand how a credit card limit is set
Before having this answer, you need to understand how does a credit card work. As already detailed, in practice a credit card is a short-term loan. The money that is lent by the institution belongs to it, and it can be used throughout the month and with the limit defined for it.
so much in traditional banks as well as at Nubank, the confidence to offer credit is measured according to a “risk analysis”. Let’s say it’s like before you lend something to someone, you make an assessment of whether you really know and trust the person, as well as whether he or she usually pays back the amount you borrow.
This person’s limit tends to be the same over a long period because it is this value that for a medium/long term the financial institution he believes she will be able to repay this loan.
Tips to increase your Nubank card limit
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The process is simple and there is no magic formula. Obtaining credit has to do with the risk that a financial institution presents to you. loan pre-approved will need to consult your history.
The first and perhaps most important tip is to keep your income up to date. To do this, just send your proof of income updated so that the financial institution can assess how much can be paid in the credit function without compromising its financial life.
When changing jobs or getting a promotion, it is important not to forget about this in the Nuconta profile. And another point that is very important for the assessment of banks is that customers always pay their bills on time, which guarantees an even greater degree of trust.
Analyze your credit card spending at Nubank
If financial institutions need customer information to grant them credit, spending analysis is a resource that can be widely used by users. Nubank offers charts comparing the your expenses with every product, from food to travel.
The credit card is a great advantage, especially for who uses Nubank Rewards, where all purchases end up reverting to vantage points. In this case, paying for purchases and daily consumption with the card can bring more benefits than the cash payment.