Read our App and Online Terms of Use. Interest rates, fees and charges apply and are subject to change, correct as at today. Approval and credit limit are subject to our credit assessment criteria. Read our Credit Card Terms and Conditions and Other Important information.
How to increase or decrease your credit limit
Increase your credit limit
You can apply to increase your credit limit using MyCard Online.
For credit card limit increase requests, you’ll be asked to provide information on:
- current employment
- income (before and after tax)
- assets, liabilities and expenses
This will include providing proof of income documentation (e.g. payslips). We use this information to make sure the increased credit limit suits your circumstances.
We’ll then verify the information and assess your request. That usually takes a few days. Once we've done an assessment, we may need to call you for more information or check the information you already gave us. We'll do our best to let you know the outcome within a week.
Follow these simple steps to request an increase to your credit card limit using MyCard Online.
- Log in to MyCard Online
- Go to Account details
- Under Manage your account, select Change your credit limit
- Select Increase credit limit
- Follow the prompts to select your new credit limit
Decrease your credit limit
You can request to decrease your credit limit at any time using the MyCard App or MyCard Online.
It’s important to note that if you’re decreasing your credit limit, you can't go any lower than your current outstanding balance or the minimum product limit.
Follow these easy instructions to request a credit limit decrease.
- Log in to the MyCard App or MyCard Online
- Go to Account details
- Under Manage your account, select Change your credit limit
- Select Decrease credit limit
- Follow the prompts to select your new credit limit
Credit limits
The minimum and maximum credit limits for MyCard Credit Card accounts vary per product, which are listed here.
Please note: MyCard Plus, Standard, Platinum, Platinum Qantas, Prestige, Prestige Qantas, Ready Credit and Classic Plus are no longer for sale.
| Product | Minimum Credit Limit | Maximum Credit Limit |
|---|---|---|
Product MyCard Prestige | Minimum Credit Limit $20,000 | Maximum Credit Limit $100,000 |
Product MyCard Prestige Qantas | Minimum Credit Limit $20,000 | Maximum Credit Limit $100,000 |
Product MyCard Premier | Minimum Credit Limit $10,000 | Maximum Credit Limit $100,000 |
Product MyCard Premier Qantas | Minimum Credit Limit $10,000 | Maximum Credit Limit $100,000 |
Product MyCard Rewards | Minimum Credit Limit $2,000 | Maximum Credit Limit $100,000 |
Product MyCard Clear | Minimum Credit Limit $2,000 | Maximum Credit Limit $100,000 |
Product MyCard Simplicity | Minimum Credit Limit $2,000 | Maximum Credit Limit $100,000 |
Product MyCard Plus | Minimum Credit Limit $2,000 | Maximum Credit Limit $7,500 |
Product MyCard Standard | Minimum Credit Limit $2,000 | Maximum Credit Limit $20,000 |
Product MyCard Platinum | Minimum Credit Limit $6,000 | Maximum Credit Limit $100,000 |
Product MyCard Platinum Qantas | Minimum Credit Limit $6,000 | Maximum Credit Limit $100,000 |
Product MyCard Ready Credit | Minimum Credit Limit $5,000 | Maximum Credit Limit $75,000 |
Product MyCard Classic Plus | Minimum Credit Limit $2,000 | Maximum Credit Limit $100,000 |
Who can change a credit limit
A credit card account only has one credit limit which applies to all cards and cardholders. Only the primary cardholder can apply to change the credit limit of their credit card account.
Don’t have the MyCard App?
Download the MyCard App today for a more convenient banking experience.
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