Why is my credit limit low?

If you’ve just successfully applied for a loan or a credit card, you may not have been given as much credit as you’d hoped for, and perhaps you’re wondering why.

So let’s take a look at why your credit limit is low – and what you can do to improve your credit score in future.

What does credit limit mean?

When you’re approved for a new credit card it will come with a credit limit, which will be specified in the documents it arrives with. This is the maximum amount that the lender is prepared to lend to you on the card.

Morses Club PLC (LON:MCL) is an established, relationship-driven consumer finance provider offering a range of credit products and delivering exceptional services to customers in the non-standard finance market.

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