What’s a typical credit card limit?

[IrishHusk]

Hmmm... I find this hard to believe.

5k limit for us and rarely make a purchase for more than a few hundred euro. What do people with 12k limits use them for?

Avant just gave me a 12k limit based on our salary's. I never spend that much but this month I paid for a holiday which will be maybe 5k. Maybe they give high limits so some may overspend. I always pay off in full and I get the 12 euro reward

 

[Mousehelp]

BofI limit is 8.5k. Paid off in full every month. My Bill can go up to 5k some months with holidays and college/school fees in August/September. I never asked for this but I remember they wrote to me a few times telling me they were upping the limit. That’s a few years ago though.

 

[Zenith63]

BOI gave me 7k as part of switching from UB. That was what I had with UB also

This is important for those switching from UB/KBC. If you do a switch BOI carry your limit over.

I didn’t know that so setup a new BOI credit card, asked for a limit of €6k (same as I had with KBC) but was given €2k and told you can only ask for an increase every 6 months so I just have to wait. Bit of a pain as I’m used to using our credit card to keep day-to-day spending separate from DDs etc in our current account. BOI do let you overpay the credit card so you can have more than the €2k credit available however.

 

[garbanzo]

With Avant Card myself; formerly MBNA for donkeys years. I’d a €15k limit with them for years. Never went near those heights. They reduced it to €12k a few months ago following ‘a review’. Doubt I’ll ever get to that ceiling either TBH. It’s plenty…

g

 

[BigPineapple]

Hmmm... I find this hard to believe.

5k limit for us and rarely make a purchase for more than a few hundred euro. What do people with 12k limits use them for?

I have an AIB Platinum for a few years now, started off in the low 5K region I think, every half year or so I request about 1K-1.5K increase. Right now up to 9.5K. Will keep on doing it for another while, probably until it reach 20K or so.

The way I see it, it is using Bank's money interest free for up to 56 days and can sometimes get you out of a jam in emergency.

Somewhat like mortgages (where overpayment and maintaining the same term is more beneficial as you as the borrower because you cannot extend terms later on) but in a slightly different way. If I might need a once off slightly higher limit and I ask the bank adhoc, the bank won't give it to me come the time I needed it, therefore I apply regularly to increase the limit just in case I might need it some day. It is a nice to have, it doesn't cost me anything and I'm taking full advantage of the service that comes with it.

The big caveat is that the user need to be vigilant and pay off every month in full. I have always paid in full and only spend on things I know I can afford. (None of those crazy spending without thorough thought).

 

[Concrete]

What do people with 12k limits use them for?

I push all my day to day spending, including health insurance, etc. through it (clearing in full each month), so then for car rental (where the company often locks a fairly high amount as deposit), I need a fair bit of headroom. I don't quite have 12k but pretty high and it's useful.

 

[OrangeLavender]

I have an AIB current account and Platinum credit card with over 6k limit I think. I just pay for everything except direct debits from credit card to avoid the transaction fees and get the (small) cashback. Then I pay off in full every month. At the beginning I was a little hesitant to have what I consider a high limit as I had a student card for years with a 500 EUR limit but it's working well so far!

 

[icb]

AIB Platinum allow you request increase every five months online up to a maximum of €15,000

After this you must call to a branch and justify the requirement to have a limit increase considered.

This has been my experience with it.

 

[smndly]

I have a BoI credit card and might ask for a limit increase soon to have in case of a rainy day. Does anyone know are there any issues with your credit rating if you get refused a limit increase?

 

[Steven Barrett]

The Corporate cards have lower limits

View attachment 6496

Personal director guarantees required on corporate accounts too...well at least for small companies.

I've been with Avant for decades. Limit has been €7,500 for as long as I can remember. They tried to increase it as one stage but I don't need it any higher so declined their offer.

 

[Johnno75]

Maybe they give high limits so some may overspend.

That’s precisely why Avant gives high limits. They’re banking (pardon the pun) on the customer overspending and paying the 22% (APR) interest rate on the outstanding balance.

I have a €25k limit with Avant. I make sure my monthly balance is nil.

 

[Komori]

I have an AIB credit card for over 20 years, my initial limit was €2000. Their internet banking had a button where you could request an increase every now and then, so I kept doing it to see how irresponsible they would be. Got it up to €14000 over a few years and then the button disappeared.
Still have that limit to this day, luckily my bills are in the 100’s and I pay it off every month.

 

[Knuttell]

Used to have 15k limit with Avant Platinum which they recently reduced to 12k.

 

[Ryan]

Mine is €1500 with Avant.
They refused a recent request to increase to €2000

 

[masterboy123]

I have AIB Platinum card. Monthly limit is €6500. And I pay by direct debit every month so there are no interest rate charged.

 

[Zion2022]

AIB Platinum allow you request increase every five months online up to a maximum of €15,000

After this you must call to a branch and justify the requirement to have a limit increase considered.

This has been my experience with it.

Any idea if the justification needs to be detailed/specific or is ‘because I want it and can afford it easily’ enough?

I was increasing my limit every 6 months until I got to €15k a few years back and haven’t been able to get a penny more since then (my income has more than tripled). Just gave up, but would like it to keep going higher so I could buy a car, a new bathroom etc, and harvest the full cashback.

 

[murphaph1]

I have an old AIB Gold card that has had the same 10k limit for at least 15 years now, maybe even longer. I can't even find "Gold cards" on the AIB website so it must be just a legacy product? I don't really use the card much but I do like to have it as a backup to my main CC. My wife's CC is with the same bank as my main CC (joint account, though separate cards) so I am always a bit worried that we might be on holidays and that bank might experience an outage, leaving us both without funds, hence I like to have the fallback of a completely different card. Of course, both are Visa so if Visa has a big outage I guess we're screwed anyway!

 

[nest egg]

I have an AIB credit card for over 20 years, my initial limit was €2000. Their internet banking had a button where you could request an increase every now and then, so I kept doing it to see how irresponsible they would be. Got it up to €14000 over a few years and then the button disappeared.
Still have that limit to this day, luckily my bills are in the 100’s and I pay it off every month.

The button is back! Not quite so visible these days but it's there if you look, I just requested an increase, and it was immediately approved.

 

[Mommabearof3]

Mine is 11k with BOFI never requested that amount though and salary is mid 60’s. I put everything on my card and alway pay in full university registration for 2 kids pushed it up and at again healthcare renewal time its high. Sometimes I worry about the limit being so high in relation to fraud. I got stung for the first time on a dodgy site for trainers for the kids and although it was picked up by the fraud section of BOI i really did not see it. I am pretty tuned in but was had that time and wonder how far it could have gone if it was missed, in terms of other charges brought on to the card. I know there is protection in relation to charge backs etc bit as others have said dealing with the banks is excruciating. The other point about high limits and high bill is that sometimes I make different part payments while clearing a bill always before it is due however I miscalculated the total one month by a euro and interest is charged on the full amount regardless of part payments. That is with BOI it was a hard pill to swallow and one I will never make again.

 

[ClubMan]

I put everything on my card and alway pay in full

Not always?

The other point about high limits and high bill is that sometimes I make different part payments while clearing a bill always before it is due however I miscalculated the total one month by a euro and interest is charged on the full amount regardless of part payments. That is with BOI it was a hard pill to swallow and one I will never make again.