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Credit Card Limit Calculator

Learn how your credit card limit is determined and ways to calculate a credit limit that will work for you.

Your credit limit is the amount of money you can access with a credit card. When you apply for a card, the issuer will decide on your credit limit based on a variety of factors including your income, credit history, personal circumstances and sometimes even the card that you choose.

Use this guide to learn more about credit limits and the factors that impact on them. You can also compare cards with high and low minimum credit limits and learn how to calculate the credit limit range that will suit your spending habits and budget.

Rates last updated September 20th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Min credit limit Max credit limit Minimum Income Product Description
ANZ First Visa Credit Card
19.74% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$30 p.a.
$1,000
$15,000
$15,000
Get up to 44 interest-free days on purchases and take advantage of a low minimum credit limit.
NAB Low Fee Card
19.74% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$30 p.a.
$500
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
ANZ Low Rate
12.49% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$58 p.a.
$1,000
$15,000
Receive up to 55 days interest-free on purchases, up to 3 additional cardholders at no cost and Mastercard PayPass.
ANZ Frequent Flyer
19.99% p.a.
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
$1,000
$15,000
$15,000
Get 25,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months.
ANZ Rewards Credit Card
18.79% p.a.
$0 p.a. annual fee for the first year ($80 p.a. thereafter)
$1,000
$15,000
$15,000
Receive 25,000 bonus Reward Points when you spend $2,500 on eligible purchases in the first 3 months from approval.
Westpac Altitude Black - Altitude Qantas 100k Bonus Points
20.24% p.a.
$195 p.a. annual fee for the first year ($395 p.a. thereafter)
$15,000
$75,000
$75,000
Earn 20,000 points upon card approval and an additional 80,000 bonus Qantas Points when you meet the spend requirements. Offer ends 26 October 2017.
ANZ Low Rate Platinum
11.49% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$99 p.a.
$6,000
$35,000
Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
$6,000
$35,000
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
Westpac Altitude Black - 100k Bonus Points
20.24% p.a.
$195 p.a. annual fee for the first year ($395 p.a. thereafter)
$15,000
$75,000
$75,000
Earn 20,000 points upon card approval and an additional 80,000 bonus Altitude Points when you meet the spend requirements. Offer ends 26 October 2017.
NAB Qantas Rewards Card
19.99% p.a.
0% p.a. for 6 months
$95 p.a.
$500
A dual Amex and Visa card that allows you to earn up to 0.75 Qantas Points per $1 spent, plus complimentary purchase protection insurance.
NAB Qantas Rewards Premium Card
19.99% p.a.
0% p.a. for 6 months
$250 p.a.
$6,000
A dual Amex and Visa card that earns up to 1 Qantas Point per $1 spent on eligible purchases, plus a 24/7 personal concierge.
NAB Velocity Rewards Premium Card
19.99% p.a.
0% p.a. for 6 months
$150 p.a.
$6,000
Offers up to 1 Velocity point per $1 on purchases, combined with complimentary insurance covers and a concierge service.
NAB flybuys Rewards Card
19.99% p.a.
0% p.a. for 6 months
$95 p.a.
$6,000
Earn 1 flybuys point per $1 spent on everyday purchases and receive 7 complimentary insurance covers.
NAB Velocity Rewards Card
19.99% p.a.
0% p.a. for 6 months
$95 p.a.
$500
This dual Amex and Visa card offers up to 0.75 Velocity Points per $1 spent on eligible purchases and special Visa Entertainment offers.
NAB Low Rate Credit Card
13.99% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$59 p.a.
$500
Receive up to 55 days interest-free on purchases, special offers from Visa Entertainment and Tap and Pay capabilities.
Bendigo Bank Low Rate First Mastercard
11.99% p.a.
$29 p.a.
$500
For customers aged 18 to 25 years, this card gives you up to 55 interest-free days and a low variable interest rate on purchases.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
$45 p.a.
$500
A no-frills card with a competitive annual fee and a low variable interest rate of 11.99% p.a. on purchases.

Compare up to 4 providers

Rates last updated September 20th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Min credit limit Max credit limit Minimum Income Product Description
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
$6,000
$100,000
$35,000
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.
Westpac Low Rate Card - Online Only Balance Transfer Offer
13.49% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$59 p.a.
$1,000
$25,000
$15,000
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee. Plus, use of the Westpac mobile banking app.
Citi Rewards Platinum Credit Card
20.99% p.a.
0% p.a. for 24 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
$6,000
$100,000
$35,000
Earn Reward Points per $1 spent as part of the Citi Rewards Program, plus receive complimentary international travel insurance.
ANZ Frequent Flyer Platinum
19.99% p.a.
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
$6,000
$50,000
$35,000
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 12 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$129 p.a.
$6,000
$100,000
$35,000
Save with 0% p.a. on purchases for 12 months. Plus, up to 0.66 Velocity Points per $1 spent.
Virgin Money Low Rate Credit Card
11.99% p.a.
0% p.a. for 12 months
$99 p.a.
$6,000
$100,000
$35,000
Receive up to 44 days interest-free on purchases and the optional insurance coverage of CreditShield Edge.
Citi Rewards Classic Credit Card
20.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
$2,000
$100,000
$25,000
Receive 1 point per $1 spent on all eligible Domestic Spend (up to $5,000 per period) and membership to the Citibank Dining Program.

Compare up to 4 providers

What factors can affect my credit limit application?

credit-card-on-calculatorWhether you’re applying for a new credit card or want to increase in your existing card’s credit limit, the card provider will look at a range of factors to assess your application. This usually includes:

  • Your income. Your salary and any other forms of income you receive help credit card issuers decide on the amount of credit that's affordable for you.
  • Your employment status. If you're full-time, part-time, self-employed or a student, this could affect the size of the credit limit you're offered.
  • Your creditworthiness. This factor is based on your credit history and credit score, which helps issuers see how responsible you are with money.
  • The individual card. Many credit cards list minimum and maximum credit limits, which can give you some idea of the limit you may be offered. For example, if you're approved for a credit card with a minimum limit of $1,000 and a maximum limit of $10,000, the specific limit offered to you will be within this range.
  • Your credit limit request. If you have a credit card already you can request a credit limit increase or decrease at any time.You can also request a specific credit limit when you apply for a new card. As long as it fits within the minimum and maximum range for that card, the issuer will consider this when looking at your application. But whether it's an existing card or a new card, the request will still need to meet the issuer's credit lending requirements to be approved.

What is an online credit card limit calculator?

Online credit card limit calculators can give you some idea of what your credit limit might look like. Unfortunately, it’s difficult to determine exactly what your credit limit is and you can’t be entirely sure of how your credit card provider will calculate your limit.

If you do end up using an online credit card limit calculator, bear in mind that the result should only work as an indication of what you can look forward to, and don’t expect your card provider to rely on similar parameters. At the end of the day, it’s your card provider who establishes exactly what your credit limit should be.

How can I calculate my own credit limit?

While there is no way to work out the exact credit limit you'll be offered, one way to calculate a credit limit that's affordable for you is to consider the following:

  1. How much do you earn? This is a key factor in deciding what credit limit will be affordable for you.
  2. What are your current, regular expenses? This includes payments such as rent, supermarket shopping, electricity bills, phone bills and fuel or transport costs.
  3. How much money is left over from your income after you've paid your essential bills? For example, if you earn $4,000 per month and spend $2,000 on bills, that leaves you with $2,000 for other spending. This gives you an idea of the amount of money you can afford to spend on non-essentials.
  4. How much money do you want to spend on your credit card? To answer this question, you could consider how much you currently spend on credit and decide if that's working for you. Or, if you want to avoid credit card debt, you could look at the amount of money you have after paying all your essentials and request a credit limit up to that amount.

Considering these factors based on your own financial circumstances will help you figure out the type of credit limit that fits your needs. Alternatively, you could request a credit limit based on your budget or use an online credit card limit calculator.

How can I increase my credit limit?

Credit cards with calculator, pen, notebook and mobile phoneIf your credit card is not at its maximum allowed credit limit, you can consider applying for an increase in its limit, and just what you have to do in order to move forward depends on your card’s provider. You might, in all likelihood, have to submit an application for increase in credit limit, which many providers accept online. As part of this application you would have to provide identification details and income details, along with information about your existing assets and liabilities.

Before you submit an application for an increase of your credit card’s credit limit, there are several things you can do to increase chances of approval, and here’s what can help:

  • Establish creditworthiness. If you can prove that you’re a reliable borrower, there’s a good chance that the lender in question would approve your application for increase in credit limit. In order to establish creditworthiness make sure you don’t make late payments, and try paying off as much as possible each month.
  • Don’t exceed your credit limit. If you’ve exceeded your card’s limit once or more in the past, the provider would not look upon the same with favour, so it’s ideal that you keep your expenses in check and stay well within the card’s available limit.
  • Regular use. Using your credit card regularly demonstrates that you’re well aware of the spending and repayments cycle that a credit card entails. Making large value purchases and repaying them in a timely manner can work well in this regards.
  • Talk to the lender. In some instances, discussing your need for an increased credit limit directly with the card provider might help. If nothing else, you should at least get a good indication of what your provider expects.
  • Patience is key. You can’t get a credit card today and hope to get an increase in its credit limit the next day or the next week. To qualify, you have to build a relationship with the provider, and you should give yourself at least six months before you consider applying for an increase.

What should I be wary of when changing my credit limit?

Increasing your card’s credit limit gives you access to more money as and when you need it, and decreasing it can help you keep your expenses in check. In either case, it is important that you account for the following.

  • Overspending. An increased credit limit translates into you getting more money to spend, and this could lead to a build up of debt that you may have issues repaying. The higher the credit limits, the higher the chances of overspending.
  • More interest. The outstanding balance in your account that rolls over from one month to the next attracts interest, and an increased credit limit can work in increasing the outstanding balance, resulting in you paying more in the form of interest. If you don’t pay your account’s balance in full every month, a credit limit increase might not be a good option.
  • Defaulting. An increased credit limit gives you more spending power, and, again, the more you spend, the more you have to repay. Apart from repaying the principal, you also have to pay interest, which, over time, can add up to a sizeable sum. If, at any point, your outgoings exceed your income, you stand the risk of defaulting.
  • Not enough money. Before you ask for a decrease in your card’s credit limit, establish if you’ve ever used the card beyond the new limit you seek. If you have, you might find yourself in need of the money again, and with a lower limit, you might find yourself at a loss during an emergency.

The credit limit your card comes with defines how much you can spend using your card, and while changing a card’s existing limit is possible, it requires several considerations. Some of the factors that can affect your application for increase in credit limit include your income, your creditworthiness, and the card provider in question. While increasing your credit limit may seem like the resolution to your financial problems, there are a number of considerations you should also be wary of before applying for an increase.

Pictures: Shutterstock

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Frequently asked questions

With credit card providers that accept online applications for increase in credit limit, you can complete your application in around five to 10 minutes, provided you have all the required information close at hand.

This can vary from one card provider to the next, where while some inform you of their decision almost immediately, some others can take a few days.

New credit card accounts typically don’t qualify for credit limit increases, and you’ll have to wait for three to six months. Once you get an increase or decrease in your credit limit, you cannot request for another one in the next three to six months, depending on your provider.

Yes, you can, but this should be within the maximum allowed limit of the given card, and it remains subject to approval.

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