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Punjab National Bank (PNB) credit cards offer several benefits that are sure to make your transactions extremely rewarding. However, to enjoy these benefits, you must transact within the set credit card limit. So, what is the Punjab National Bank credit card limit? The PNB card limit is the maximum amount that is available on your credit card for spending. If you overshoot the credit limit, your credit score will take a hit, thereby hampering your chances of securing a loan in the future. Also, you will be required to pay an over-limit fee as a penalty. Read on to know more about the PNB credit card limit.
There are two types of PNB credit limit- the total credit card limit and the available credit limit. The first is the total amount of money you have available on your card when there are no transactions on it. As a result, this is the maximum money you can borrow on your PNB credit card. The second type of PNB credit card limit is the total credit limit minus the amount spent on the card. This makes up the total amount available to you for spending on your card, on a given day.
The Punjab National Bank takes into account several factors when deciding the total credit limit of your card. These may include, but not be limited to, the below-mentioned factors:
Income- The amount of money you earn plays an important and positive role in deciding your credit limit. The higher the income, the higher will be your credit limit.
Debts- Debt has an exactly opposite effect to income, on the credit limit. If you have too many pending loans, uncleared card dues, etc., your credit limit will be lower.
Credit Score- A high credit score is your key to securing a high credit limit. So, you should work on improving your credit score before you apply for a credit card.
Credit Limits of Other Cards- If you have other bank credit cards, such as an Axis Bank credit card, RBL Bank Credit Card, ICICI Bank credit card, SBI credit card, etc., PNB will take into account the credit limit of the existing card when deciding the same for the new card.
The bank will communicate the decided credit limit after processing your application.
While the bank does set the PNB credit card limit, you can always opt for increasing it. A higher credit limit would reduce your credit utilisation ratio and help fetch you a higher score. It will also aid you in times of financial emergencies and help you secure a loan easily.
If you have a PNB credit card and want to opt for a credit limit increase, here are the steps you would need to follow:
Pay your outstanding dues on your PNB credit card statement in full and on time.
Provide a genuine reason and request the bank to increase the card limit based on your repayment history.
Always keep your credit utilisation ratio less than 30 per cent to get a ‘PNB credit card increase limit’ offer from the bank.
Get a credit card with a higher credit limit than your existing card and request PNB to increase your limit by taking your new card’s limit into consideration.
If you have a PNB credit card, you can check the credit card limit via any of the below-mentioned online and offline channels:
You can also write to the Punjab National Bank, from your registered email ID, requesting the bank to share the details related to your credit card limit. You would need to send the e-mail on their credit card customer care email@example.com.
You can call the PNB credit card customer care 24x7 number 1800 180 2345 or the PNB credit card customer care number (Tolled) on 0120 – 4616200 and request a bank representative to assist you with information about your credit card limit.
You can visit your nearest Punjab National Bank and request a representative to inform you about your total and available credit limit. Do note that you might be required to provide some form of ID for verification.
You can use the total amount available on your PNB credit card. However, you must keep your credit utilisation ratio, i.e. the ratio between the total credit limit and your expenses, low, approximately less than 30 per cent in a month.
If you need access to more funds, you can reach out to PNB to increase your credit limit. You can provide a genuine reason and request the bank to increase the card limit based on your repayment history or the higher limit of your other credit cards. Alternatively, you can wait for the bank to reach out. If you keep your credit utilisation ratio less than 30 per cent and pay your credit card bill in full and on time, you improve your chances of securing an offer from the bank.
A default PNB one day transaction limit would be assigned to your card for online transactions, cash withdrawals, etc. You can modify the same from your PNB netbanking account or mobile app.