RBC Royal Bank Credit Cards
Get higher credit limits with competitive rates and flexible conditions. Ideal for responsible spenders seeking better financial flexibility and stronger credit scores.
RBC offers customers the opportunity to increase their credit card limit, which can provide more flexibility and potentially improve your credit score. Interest rates on RBC credit cards typically range from 19.99% to 22.99% for purchases, depending on the card type, while limit increase eligibility depends on your creditworthiness and financial profile. There’s no set minimum or maximum increase, but the RBC team will review your income, repayment history, and current balance before approving any changes to your limit.
How to Apply for an RBC Credit Card Limit Increase
Step 1: Log into your RBC Online Banking account or the RBC Mobile app.
Step 2: Select your credit card account and click ‘Change credit limit.’
Step 3: Follow the prompts to request an increase, entering your desired limit and updating your income details if needed.
Step 4: Submit your request and await confirmation. Some approvals are instant, while others may take extra review.
Pros of Increasing Your RBC Credit Limit
One of the significant advantages is reducing your credit utilization ratio, which can boost your credit score. Having extra available credit also provides peace of mind in emergencies. With a higher limit, you are less likely to face declined transactions or over-limit fees, making it easier to manage occasional large purchases alongside regular expenses.
Cons of Increasing Your RBC Credit Limit
On the flip side, access to more credit can tempt some into spending more than they can afford. If the limit is not managed responsibly, it might result in higher balances and increased interest payments. Additionally, a limit increase request may trigger a hard inquiry on your credit report, slightly lowering your score temporarily. Carefully consider your spending habits before requesting a higher limit.
Verdict: Should You Request a Credit Limit Increase?
For disciplined spenders, increasing an RBC credit card limit provides valuable advantages, such as better credit health and more financial breathing space. However, if you struggle with self-control or already carry balances, the risks might outweigh the benefits. Review your personal situation and decide whether a limit increase aligns with your long-term financial goals.
