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What’s A Simple Way To Increase My Borrowing Capacity?

Reduce your credit card limit.

Most people know that reducing their debts can increase their borrowing limit. But did you know that lowering your credit card limit can increase your borrowing capacity?

Lenders don’t like risk

In working out how much you can borrow, lenders determine the likelihood that you might default on the repayments. In performing this risk assessment, they look at a number of factors including your credit history and job security. But something else they consider is your credit card limit.

Reduce your credit limit – raise your borrowing capacity

In the eyes of a lender, the higher your credit card limit, the more chance you have to get into financial difficulty. So, if you want a simple way to increase your borrowing limit, get rid of any surplus cards, and reduce your credit card limit to the absolute minimum you need. Want to find out your mortgage borrowing capacity? Contact us today.


Disclaimer: This article is generic in nature. All finance and investment decisions should be considered wisely and based on your personal and financial circumstances. Seek proper advice before committing to any course of investment action. This is not deemed as advice. To the extent permitted by law, 360 Expert Mortgage Solutions is a Business run by Shree Krishna Dhungana | ABN 45103859215 | Australian Credit Representative (467969) of BLSSA Pty Ltd ACN 117 651760 (Australian Credit License 391237), its related employees and contractors accepts no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this publication.

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