Dear reader, are you looking to know about credit card limit for 40,000 salary? then you came to right article. In this article you will get to know about credit card limit details for 40,000 salary. This article is written after referring more than 15 blogs/ websites.

If your salary is Rs 40,000/- per month, you are eligible to get the credit card. This salary of Rs 40000/- pm applicable to salaried employees only. If you are self employed more than 6 lakh yearly income required to get a credit card loan.

FACTORS AFFECTING CREDIT CARD LIMIT

1. YOUR MONTHLY SALARY

Banks normally follows 1.5 X, 2 X, 2.5 X, 3 X formula to give a credit card limit to customers. Few Banks initially provide credit limits less that monthly salary.

For Example:

If you are salary is Rs 40,000 per month then your credit card limit will be Rs 40,000 into 1.5 X that is rupees 60,000 and maximum you are eligible Rs 40000 X 3 is Rs 1,20,000. Few banks provide a limit more than this. Banks can give more credit card limit based on your past history with Bank.

2. YOUR CIBIL SCORE

If your CIBIL score is more than 700 then you will get credit limit more. If it is less than 700 you will get a lesser credit limit.

3. YOUR PRESENT LOANS

This factor majorly influences your credit card limit.

For Example

If you are drawing a salary of ₹ 40,000 per month in that  ₹ 40,000 you are paying ₹ 15,000 for Home Loan then your net income will be reduced to 25,000 only. In this case you will get a very lessor credit card limit.

CONCLUSION

Dear reader in this article you get to know about credit card limit for 40000 salary. Credit card limit ranges between 60,000 to 1,20,000. Even few banks can give you more it depends on customers past history. If you have any query regarding this article, kindly contact us through our contact page.