Worried about paying your mortgage? We have various ways that we can help you.
How borrowing is limited and what that means for you.
Your credit limit is the maximum amount of money, in total, you can borrow on your credit card at any one time.
Your credit limit tells you exactly how much you’re allowed to borrow. To show you how a credit limit works, we’ve simplified the example below. For more detail, visit our page on how a credit card works.
Every credit card provider has a different process. There are two ways that you can request credit limit increases from us. Although, we’ll only offer you an increase if we think you can afford it.
You’ll find your credit limit on your credit card statement, whether you receive digital or printed copies.
If you log on to Internet Banking or our Mobile Banking app, you’ll also be able to see the credit limits of your different cards there.
Yes. Although, this process varies depending on your provider.
You can usually request a credit limit increase, but you’ll need a payment history of at least six months on your account and you’ll have to go through an eligibility check, so approval isn’t guaranteed.
You can usually request a credit limit decrease whenever you like.
Your credit limit may be reduced for a range of reasons – such as a change in the products or services your provider offers, or a change in law or regulation.
Some banks will decrease your credit limit, or even limit your ability to use your card, if they reasonably believe that there’s a significantly increased risk that you will not be able to repay what you owe.
If we ever do this, Lloyds Bank will always tell you as soon as possible afterwards and show you the amount you’re still able to spend on your statements and on Internet Banking or Mobile Banking app immediately.
A credit limit decrease can impact your overall available credit, which could negatively impact your credit score.
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.