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Credit limits explained

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What is a Credit Card limit?

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What is a Credit Card limit?

A Credit Card limit is set when you’re approved for a Credit Card and is the maximum amount of credit you can use on your Card.

When you apply for a Credit Card, you’ll have the opportunity to indicate your preferred Credit Card limit. All Credit Cards have a maximum and a minimum credit limit. Approval for your new Credit Card limit will be subject to our approval criteria. You should ensure that you choose a Credit Card limit that’s in line with your current financial circumstances. It’s also important to know that choosing a low limit during the application process will not change your chances of approval. If you don’t choose a limit, we’ll assign you one, based on your current financial circumstances.

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Manage your credit limit

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Manage your credit limit

You can apply for a credit limit increase through Online Services, or by calling the number on the back of your Card. Before you apply for an increase, it’s important that you consider your personal financial circumstances. It’s required that we assess your capacity to repay the higher limit before we approve it. Applications for a credit limit increase are processed immediately, and if approved, you will usually have the higher limit within one hour.

If your limit is higher than you need it to be, you can request a credit limit decrease as long as it remains above the minimum limit and your total balance owing. You can request to decrease your credit limit by calling the number on the back of your Card and speaking with one of our Customer Care Professionals. If approved, you will usually have the lower limit within one hour also.

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Minimum Credit Card limits

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Minimum Credit Card limits

Your minimum credit limit depends on the type of Credit Card you choose. It is the lowest limit that the lender is prepared to offer you. The actual credit limit you will be offered will be somewhere between the minimum and maximum credit limits of the Credit Card.

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Cards without a credit limit

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Cards without a credit limit

If you’re looking for a Card that does not have a credit limit, then you may want to consider a Charge Card. These act like Credit Cards, except that you will have no pre-set spending limits1, and you have to repay your balance in full by the due date to avoid incurring fees.

Learn about Charge Cards >

Useful terms

Useful terms

  • Credit Card limit: Credit limits are the financial boundaries set at the start of your Credit Card contract. All Credit Cards have a maximum and a minimum credit limit.
  • Repayments: When your statement arrives, you will have a choice of repayment options. You can pay off the entire Credit Card bill on, or before, the statement due date – in which case you’ll avoid paying more interest.
  • Minimum repayments: You can choose to spread your Credit Card repayments out over time by paying at least the minimum monthly repayment amount. This option will mean you will be paying more interest.
  • Interest: When you use your Credit Card, you are effectively taking out a loan – and will be charged interest unless you repay the full closing balance within a specified period. Interest is usually expressed as an annual percentage rate, also known as the interest rate.
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Tips on staying within your Credit Card limit

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Know your credit limit

Knowing your maximum credit limit is the first vital step to staying within it. If you find you’re close to your credit limit, making an interim payment will reduce the risk of you going over it.

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Pay off as much as you can

Paying more than the minimum amount required will reduce the amount of interest you’ll be charged on your remaining balance, and will help you pay off the full amount faster.

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Make use of our tools

You can login to your online account or download the mobile app to keep track of your spending. You can also set up automatic email or SMS alerts that let you know when your payment due dates are approaching, or when you are approaching your credit limit.

FAQs

What is the highest credit limit I can apply for?

What is the highest credit limit I can apply for?

All American Express Credit Cards have a maximum credit limit. Your Credit Card Limit will depend on your financial circumstances and the Credit Card you choose.

Explore our Credit Cards >

Can I get an increased Credit Card Limit without paying off my closing balance?

Can I get an increased Credit Card Limit without paying off my closing balance?

Yes, but please ensure that there is no overdue balance on your account when you apply for an increased credit limit as this may impact approving your request.

If I lower my Credit Card limit, can I increase it again?

If I lower my Credit Card limit, can I increase it again?

Yes, You can apply for a credit limit increase at any time. Approval will be subject to our approval criteria.

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Why choose American Express?

Accepted at more places

With more Merchants in Australia choosing to accept American Express, including the big brand stores you spend at every day, your points will add up fast.

Where is Amex Accepted? >

Membership experiences

We believe our Card Members deserve more. Discover how we reward our Card Members.

Explore Card Member Benefits >

A great range of Cards

From Charge Cards to Credit Cards – you’re bound to find something to suit your needs.

View all Cards >

Terms and Conditions

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Terms and Conditions

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1. No pre-set spending limit does not mean unlimited spending. Your purchases are approved based on a variety of factors, including current spending patterns, your payment history, credit records, and financial resources known to us.