Managing your credit limit
Whether you increase for greater flexibility or decrease as you reach repayment goals, adjusting the limit on your credit card could help you manage how you use it.
Applying for an increase
Increasing the credit limit on your card could give you the ability to buy things as you need them, avoid over limit fees1 or access funds to accommodate unforeseen and emergency expenses.
If you're registered for online banking, you can request a credit card limit increase at any time online. Alternatively, call 1300 130 961 or visit your nearest branch.
Registering for limit increase invitations
Did you know that you can also register to receive written credit limit increase invitations so that we can let you know when you are eligible to apply for an offer?
Decrease your credit limit
Decreasing your credit limit could help you control how you use your card. You can decrease your credit limit at any time through Westpac Live Online Banking, provided your current limit is higher than the minimum for your card type, you don’t owe more than your new limit and your account isn’t blocked.
Remember that minimum card limits will apply for each credit card. Below is a table outlining the minimum and maximum limits for Westpac credit cards.
|Product name||Minimum limit||Maximum limit|
|Altitude Black and Earth Black credit cards||$15,000||$75,000|
|Altitude Platinum credit card||$6,000||$30,000|
|Altitude Platinum Plus credit card||$8,000||$75,000|
|Earth Platinum Plus credit card||$8,000||$50,000|
|All Gold credit cards||$5,000||$30,000|
|Ignite credit cards||$2,000||$25,000|
|All Platinum credit cards||$6,000||$50,000|
|Student credit card||$300||$1,000|
|Westpac Lite card||$500||$4,000|
|Other personal credit cards||$500||$25,000|
Things you should know
Westpac’s lending policies and guidelines are designed to ensure we lend responsibly. Before applying to increase your credit limit, please make sure you’re comfortable with the higher monthly payments and higher credit limit.
To manage your credit card, just remember these two simple rules:
a. Always aim to pay off more than your monthly minimum amount as making minimum payments is not an effective way to manage your credit card debt.
b. Make sure your credit limit is realistic. Call us on 1300 130 961 (8am and 8pm, Mon to Fri) if you want to reduce your credit limit, and it’ll be effective immediately.
There are sometimes reasons, such as job loss or illness, that could lead even the most responsible borrower into temporary financial difficulty. If you find yourself in this position, just call us on 1800 067 497 (8.30 am-7.30 pm, Mon – Fri & 9.30 am-5.00 pm, Sat, AEST).
Terms and Conditions: Credit criteria apply. We’ll write to you within 20 days of receiving your application to confirm any changes to your credit limit. We reserve the right to decline your credit limit increase application including where your application is incomplete or where your card account is not in order.
The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you.
1. If your card account was opened before 4 June 2012, a fee will be charged in accordance with your credit contract every time you exceed your credit limit during a statement cycle.