Canara Bank CC Limit

Canara Bank Credit Card Limit Check

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What is the Canara Bank Credit Card Limit?

**Disclaimer: Canara Bank is not a Finserv MARKETS’ partner. Offers would be from partner banks/NBFCs only.**

 

If you are using a credit card issued by Canara Bank, you must understand the various facets of your Canara Bank credit card limit. Foremost, you should understand that the credit limit is a predetermined ceiling on your spending/purchases. You can’t spend beyond your existing Canara Bank CC limit. If you spend beyond your existing limit, it can result in the bank levying fines and penalties. You might even face the prospect of your credit card being blocked.

 

Here, you should also keep in mind that the Canara Bank card limit is at the sole discretion of the bank and various factors, such as the type of credit card along with your individual income, age, CIBIL score, and credit history, play an essential role in determining your personal credit limit. 

Types of Canara Credit Card Limits

Depending upon the type of credit card, you can avail of different credit limits. For instance, if you are a regular customer availing of the standard Canara Bank credit card, it has a credit limit of up to 30% of your annual income or Rs. 3 Lakhs. But if you are a high-end customer availing the Global Gold credit card, you can enjoy a credit limit of Rs. 25 Lakhs or 50% of your annual income.

Limits for Top 5 Canara Credit Cards

Canara Bank Credit Card name

Canara Bank credit card limit

Canara Bank maximum withdrawal limit

VISA Classic/ MASTERCARD standard credit card

It has a minimum credit card limit of Rs. 10,000. The maximum credit card limit can range up to Rs. 3 Lakhs or up to 30% of your income per annum.

You can withdraw cash up to Rs. 50,000 in a given billing cycle.

Global Gold credit card

It has a minimum credit card limit of Rs. 50,000. The maximum credit card limit can range up to Rs. 25 Lakhs or 50% of your income per annum.

You can withdraw cash up to Rs. 50,000 in a given billing cycle.

Corporate credit card

The total credit card limit is decided at the level of the company/firm availing the card. This limit has to be shared among the employees, who will be designated as add-on corporate credit cardholders. The maximum credit limit is up to Rs. 1 Crore. From the existing credit limit, the company can assign the credit limit for each add-on cardholder/employee in multiples of Rs. 5,000.

Any individual add-on corporate cardholder cannot exceed the maximum cash withdrawal limit of Rs. 50,000 in a particular billing cycle.

RuPay Platinum credit card

It has a maximum credit card limit of up to Rs. 25 Lakhs.

You can withdraw cash up to Rs. 50,000 in a given billing cycle.

RuPay Select credit card

It has a maximum credit card limit of up to Rs. 25 Lakhs.

You can withdraw cash up to Rs. 50,000 in a given billing cycle.

How to Increase Canara CC Limit?

Depending upon the type of credit card that you have selected, the Canara Bank CC limit can vary. The standard Canara Bank credit card has a minimum credit limit of Rs. 10,000 along with a maximum CC limit of up to Rs. 3 Lakhs. Other premium credit cards have a minimum credit limit of Rs. 50,000 along with a maximum credit limit of Rs. 25 Lakhs. The simplest way to increase your Canara Bank card limit is to apply for a new card with a higher credit limit.

Remember, for getting a high-end credit card from Canara Bank, you must show a correspondingly high income. If your existing annual income is not sufficient to apply for a premium credit card, you can find alternative sources of income along with taking steps to minimize your additional liabilities.

Methods of Increasing Canara CC Limit

For your Canara Bank credit card limit to increase, you can use the following methods:

 

1. Maintain an optimum Credit Utilization Ratio(CUR): The CUR is the ratio between your existing credit limit and the amount actually spent. According to market experts, individuals should maintain an optimum CUR of 30%. For instance, if your credit limit is Rs. 3 Lakhs, you must not spend beyond Rs. 90,000. Maintaining an optimum CUR will boost the chances of your Canara Bank credit card limit increase. Conversely, overspending and having a poor CUR will negatively impact the chances of your credit card limit increase.

 

2. Pay your bill in time: Paying your credit card dues within the prescribed time will help you in getting your credit card limit increased.

 

3. Make a request to the bank: Once you maintain an optimum credit utilization ratio and don’t default on your dues, you can make a request to the authorities of Canara Bank to increase your credit card limit. You can make a request either through net banking or by making a physical visit to the nearest branch office.

How to Check Canara CC Limit?

For a Canara Bank credit card limit check, you have several alternatives. Here’s a look:

 

  • Netbanking: You can log in to your online banking account to know your Canara Bank credit card limit.

  • Canara Bank mobile banking app: For an instant Canara Bank credit card limit check, you can download and install the bank’s mobile banking app. Once you log in to the app, you can easily know your Canara Bank CC limit.

  • Customer care: You can know your existing Canara Bank credit card limit by contacting the toll-free customer care number at 1800-425-0018.

  • Email: To know your Canara Bank card limit, you can send an email at hocancard@canarabank.com

  • ATM: You can visit an ATM and check your credit card limit using the PIN.

  • Branch visit: You can make a physical visit to a branch to know your Canara Bank CC limit.

  • Refer to the bill: For a Canara Bank credit card limit check, you can refer to a copy of your credit card bill. You can refer to an online bill or go through the physical copy of your bill. 

FAQs on Canara Bank Credit Card Limit

  • ✔️How much of my Canara Bank credit card limit can I use?

    You can use the maximum limit of your Canara Bank credit card. For instance, if your credit card limit is Rs. 25 Lakhs, you can spend or make purchases worth Rs. 25 Lakhs. But if you want to maintain a robust Credit Utilization Ratio, you should aim to spend not more than 30% of your existing credit limit.

  • ✔️What will happen if I exceed my Canara Bank credit card limit?

    Your card can be blocked, or the bank can impose a fine. It will also negatively impact your CIBIL score.

  • ✔️How can I increase my Canara Bank credit card limit?

    You can increase your credit card limit by making a request in the prescribed format to Canara Bank, either online via net banking or by making a branch visit. Before making a request, you should maintain an optimum Credit Utilization Ratio and make timely payments for your credit card bills. This will ensure that your application is approved. Alternatively, you can also apply for a new credit card, having a higher credit limit.

  • ✔️How is the Canara credit limit calculated?

    The Canara Bank credit card limit is determined after considering your income, age, credit history and CIBIL score. The credit limit also depends upon the internal policies of the bank.