Nubank offers an excellent credit card that is considered one of the best on the market due to several benefits, such as free annual fees and a points program. If so, you might be wondering how to increase your Nubank credit card limit. We will give these tips in this article.
Firstly, it is important to remember that the limit you receive on the card is linked to your credit score, therefore, you must have a good score with large institutions such as Serasa Experian and Boa Vista. In the article below, you can see how to check your score online.
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How Nubank assesses each customer’s limit
Nubank uses constantly updated credit analysis algorithms. The sources of this information include information from Nubank itself and its financial conduct with other institutions, which the fintech obtained from credit agencies. With this, Nubank analyzes the probability of risk when granting credit to you based on your financial situation.
Nubank's popular “purple” credit card is one of the most popular in Brazil. The Nubank credit card offers a great advantage, and it is worth remembering that it has zero annual fees. It is a fact that many people may not be satisfied with their limits after the card is issued.
Nubank uses algorithm-based technology that defines credit card limits for each applicant. In this case, people with better conditions, such as higher salaries, would benefit more from the credit.
Check out these 8 tips to increase your Nubank card limit:
- Avoid delays in paying bills and invoices;
- Make advance or scheduled payments;
- Align the due date of your card bill with your salary payment;
- Do not pay the minimum invoice amount, as this will activate a revolving credit;
- Always update your monthly income in the Nubank app;
- Use your credit card frequently;
- Avoid exceeding your credit card limit;
- Don't have debt.
In addition to all these factors that help increase your credit, another important fact is to avoid using dirty names in credit protection agencies such as SPC and Serasa. Negative numbers can cause your score to drop significantly, which can affect your chances of getting that much-desired credit boost.
Remember that the limit reached is a debt that must be paid, therefore, avoid limits that are disproportionate to your financial situation, which can attract unnecessary expenses and you may be spending more than you can afford. Many people see credit as a limit to what they can spend, and many end up in debt. Late bill payments, constant minimum payments, and constant renegotiation can result in a person being reevaluated and their card blocked until their credit is approved again.
Nubank also offers services such as personal loans, and the fintech highlights that it has one of the best interest rate applications on the market.
