How to change your credit card limit
You can request a credit card limit increase or decrease using NAB Internet Banking.
Alternatively, call us on 13 13 12 from 8am-7pm Monday-Friday or 9am-6pm on weekends (AEST/AEDT). The number to call if you're overseas is +61 3 8641 9083.
For credit card limit increase requests, you’ll be asked to provide current employment and financial information including payslips. We’ll then verify the information and assess your request. That usually takes a few days.
The fastest way to request a credit limit decrease is using NAB Internet Banking - it's instant.
If you call and request a credit limit decrease we'll process your request as soon as possible.
If you have a business or corporate card, you should contact the Corporate and Business Servicing team on 13 10 12 or speak to your Relationship Manager if you have one.
How low can you go?
If you're lowering your credit limit, you can't go any lower than your current balance. You also can't go lower than:
- Signature cards: $15,000
- Platinum/Premium cards: $6,000
- Other cards: $500
Managing your credit card debt
Have you really thought about your credit card?
Your credit card offers you great flexibility. Flexibility in making purchases. Flexibility in making repayments. Flexibility in managing your debt. But it's important to remember, like any debt, you'll have to repay it.
What's the best way of using your credit wisely?
Any debt facility you agree to requires care in its use. You need to make sure you can maintain your payments within the terms of your credit card contract.
Please let us know if you'd like another copy of the terms and conditions applicable to your NAB credit card account. Below we've listed some 'tips' to help you manage your credit card account responsibly.
1. You can always pay more than your ‘Minimum Payment’
Your credit limit is set to help you control your opportunity to overspend. It's important to make sure you manage your balance so the repayment you choose to make is within your budget.
The minimum payment amount due on your statement is just that - it's the least you must pay to keep your account in order.
You have the option of paying more than the minimum payment amount due. By paying more you'll reduce the amount of interest you accrue on the amounts owing e.g. individual purchases and cash advances, until they are repaid in full.
2. Credit limit increases are optional
An invitation to increase your credit limit is only made if you have a satisfactory repayment history with us - and we believe you may be able to manage the higher limit based on how your account has been conducted.
But you don't have to accept the offer.
If you believe your personal circumstances have changed, or are likely to change (for example, through loss of employment or maternity leave) or believe that the additional credit may be beyond your means to repay, then you should decline the offer.
3. Stop and call us if you get into trouble
If you find you're unable to make repayments within your budget, or foresee changes in your personal circumstances that may affect your ability to make your repayments, the first thing to do is stop using your card immediately.
Then, please contact us on 13 22 65. We may be able to restructure your payments or work out a repayment plan to help you manage and ultimately clear your debt.
4. You can reduce your credit limit at any time
You can reduce your credit limit at any time using the Credit card credit limit option in NAB Internet Banking, or alternatively, call us on 13 22 65.