Discover how to select the right limit for you.
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. All Credit Cards have a maximum and a minimum Credit limit.
When you apply for a Credit Card, you’ll have the opportunity to indicate your preferred Credit Card limit. Approval for your new credit line will be subject to our approval criteria. You should ensure that you nominate 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.
Can I change the limit on my Credit Card?
You can apply to change your credit limit at any time. If you need more credit, you can apply for an 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. Credit Limit changes are processed immediately, your new line if approved will be available 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.
What is the highest limit I can apply for?
All American Express Credit Cards have a maximum Credit limit. Your highest limit will depend on your financial circumstances and the Credit Card you choose.
Minimum Credit Card limits
Your minimum credit limit depends on the type of Credit Card you choose. The actual credit limit you will be offered will be somewhere between the minimum and maximum credit limits of the Credit Card.
If l choose to 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.
How does the limit differ between a Credit Card and Charge Card?
A Credit Card will have a set Credit limit. A Charge Card comes with no pre-set spending limit1, which means your spending limit can vary depending on a variety of factors . You’ll also be required to pay the full closing balance on your Charge card every month.
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Terms and Conditions
1. No pre-set spending limit. 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.