The credit limit assigned to you depends on several factors, the biggest being your creditworthiness and ability to repay on time. It is a value that ideally should grow with time - as you continue to exhibit positive credit behavior like timely repayments. If you are not getting a higher credit limit, it could be because:
- You don't have a repayment history on slice in spite of having an active credit account.
- You have delayed the repayments at one or more lenders in the past 12 months.
- You have opened too many accounts in the past 8-12 months.
- You have applied at too many lending platforms in the past 3 months.
- Your outstanding debt is more compared to your per monthly income.
- Your credit utilization is very high at one or more lenders.
- Your account was not active for the past 3 months.
- Recent delinquencies reported to credit bureaus.
- You don’t have enough income for a credit limit increase.