Best Strategies to Increase Your Bajaj EMI Card Limit

It’s common knowledge that credit cards are great financial tools that can help you buy things you may not have the cash for at the moment, provided that you can successfully keep up with the required payments. However, Visa and Mastercard aren’t the only game in town – there are several other offers available in the market that cater to the specific needs of different customers.

One such offer is Bajaj Finserv’s EMI card, which is specially designed to enable customers to purchase high-value items on a flexi-payment schedule so that they don’t need to compromise on their plans. This card, which comes with a pre-approved loan of up to Rs 4 lakh, can be used to purchase items ranging from electronics and appliances to furniture, groceries, healthcare, and travel.

With the Bajaj EMI card, you can conveniently split your purchases into equal monthly installments, thereby avoiding the burden of paying for everything in one go. What’s more, the card comes with a pre-approved loan limit, which means you don’t need to go through the time-consuming hassle of submitting documentation and waiting for approvals. However, there may come a time when you may want to increase your Bajaj EMI card limit to make bigger purchases.

In this article, we bring you some tips and strategies that can help you increase your Bajaj EMI card limit. But before we do that, let’s take a closer look at the pros and cons of using EMI cards over making full payments.

EMI vs Full Payment

When you buy something using your credit card, you have two options: you can either make a full payment or opt for an EMI card. Making a full payment may seem like the more prudent choice because it saves you from paying any interest on your balance. Additionally, if you clear off your balance before your bill’s due date, you can avoid any late payment charges as well.

However, not everyone can afford to make full payments. Some purchases are too expensive and may put a dent on your finances if you choose to make a full payment. This is where EMI cards come in handy. With an EMI card, you can split the cost of your purchase into smaller, manageable, monthly installments. While there may be some interest charged on these EMIs, they are typically lower than the interest rates you may have to pay on your credit card balance for a regular purchase.

Moreover, EMI cards offer consumers several benefits that include zero foreclosure charges, the option to pay with no-cost EMIs, and easy approval processes that do not require multiple financial documents to be submitted. This makes them a convenient payment mode for individuals looking to purchase big-ticket items.

Tips to Increase Your Bajaj EMI Card Limit

The Bajaj Finserv EMI card is a great financial product that can help you make large purchases without denting your bank account. However, if you need to buy something that is more expensive than your current EMI limit, you may need to increase the same. Here are some tips to help you do just that:

Pay Your EMIs Regularly

The first and most obvious thing to do here is to pay your EMIs on time. Just like with any other debt, a failure to make timely payments can cause a dent in your credit score, making it difficult to procure financial products in the future. Therefore, ensure that you set up a payment system that reminds you of EMI payments’ due dates, so you can make timely payments and avoid penalties.

Build Your Credit Score

Credit scores play a vital role when it comes to determining your eligibility for credit cards or any loans, and the limit you will receive on the same. Therefore, it’s important to know where you stand. If you have a low credit score, start working on improving it by paying off debts, settling arrears, and minimizing credit utilization.

Increase Your Income

Generally, the higher your monthly income, the higher your chances of receiving larger credit limits on any product or service. Therefore, if you are looking to increase the limit on your Bajaj Finserv EMI card, try to boost your monthly income. This can be done by taking on additional work, starting a side hustle, or diversifying your income streams.

Use Your Card Regularly

One of the best ways of increasing your credit card limit is by consistently using your card for payments and transactions. Therefore, use your Bajaj EMI card regularly, especially for purchases that you can pay off the next month. This may help convince your credit card provider that you are a responsible and reliable borrower.

Apply for a Limit Increase

If everything else fails and you still need a higher credit limit on your Bajaj EMI card, the final and most direct approach is to request an increase. You can do so by visiting Bajaj Finserv’s website or visiting their branches and filling out the necessary forms. However, before applying, make sure you have all the necessary documents in order to expedite the approval process.

Conclusion

The Bajaj Finserv EMI card is an excellent financial instrument that can help make big things happen without compromising your finances. While increasing the limit on your card may seem like a daunting task, it is entirely possible with the right tactics and strategies in place. By paying your dues on time, enhancing your credit score, augmenting your income, and using your card regularly, you can take full advantage of the benefits offered by Bajaj Finserv’s EMI card. So go ahead, start using your card for everything from furniture to gadgets to travel, and experience the convenience of payment flexibility.