Credit cards have become quite prominent today as one of the best payment mechanisms for making purchases, both online and offline. It is a great way to ensure you don’t have to dip into your savings for meeting an immediate need.
Not only can you use credit cards to purchase luxury items or electronics that you have been coveting, but you can also use it to meet emergency needs for funds such as during a medical emergency. Among the plethora of credit cards available in the market today, SBI credit cards have emerged as the most popular owing to the range of benefits they offer.
However, it is important to understand your credit card limit. This limit pertains to the maximum amount that you can spend while using the card. Initially, when you apply for a credit card, the limit is likely to be quite low. However, as time passes and you are able to prove yourself to be a stable credit card holder who makes regular payments and ensures the credit card limit is adhered to, you are likely to be able to raise your credit card limit.
SBI Credit Card Limit:
Even though SBI credit cards have won acclaim from people owing to the flexibility and convenience they offer, SBI credit card limits leave many people hoping to increase it. Credit limits on your SBI credit card will be mentioned as two different components. One is the Total Credit Limit (TCL) which refers to the maximum credit limit that is available to you through this card. The other is the Available Credit Limit (ACL) which is the credit limit up to which you can utilise in order to make purchases.
SBI credit card limits also include a pre-approved credit increase offer, of which the owner of the card is usually informed through SMS.
Alternatively, you can yourself check whether you are eligible for the pre-approved credit increase offer. Through the website, you can click on “Offers” or “Benefits” to check for any increases to the credit limit on your card. If you find that you are eligible, you can reach the card issuer over phone or by email in order to activate the increased limit.
How to Withdraw Cash From Credit Card:
While credit card cash withdrawal is not an option available with most credit cards, SBI credit cards enable users to withdraw cash from the ATM.
For credit card cash withdrawal from your SBI credit card, log into your SBI card online account and go to “My Account”. Set your ATM pin from here, which will be further authenticated by the bank. Once this is done, you can easily withdraw cash from your SBI credit card. This is a huge benefit for users as cash withdrawals are one of the best deals to deal with a financial emergency.
Credit card limits are often one of the most thoroughly checked feature by those who wish to avail a credit card. Credit cards, available on Finserv MARKETS, can be easily compared in order to assess the different benefits each of them offer. If you are looking for cards with a higher credit limit, not only can you see which cards offer the highest credit limits through Finserv MARKETS, but you can also learn about which will be easiest and most beneficial for you.