The Self Visa® Credit Card typically offers a starting credit limit of $100, which can increase significantly as you demonstrate responsible financial behavior through consistent payments on your associated Credit Builder Account.
Understanding Self Visa Card Credit Limits
The credit limit for a Self Visa Card is not a fixed amount but rather a dynamic range that grows with your financial progress. It is designed to help individuals build or rebuild their credit history by starting with an accessible limit and offering opportunities for growth.
Initial and Maximum Secured Limits
When you first obtain a Self Visa Card, which is connected to your Credit Builder Account, you start with a modest credit limit. As you make on-time payments towards your Credit Builder Account each month, you unlock the ability to increase your credit limit.
Here's a breakdown of the typical credit limits:
| Limit Type | Amount | Condition |
|---|---|---|
| Minimum Initial | $100 | Standard starting point for the secured card. |
| Maximum Secured | Up to $3,000 | Achievable by consistently making payments on your Credit Builder Account. |
This structure allows you to control your credit limit's growth by maintaining good payment habits.
How Your Limit Can Grow
Your credit limit on the Self Visa Card primarily grows in tandem with your payments on the Credit Builder Account. As you successfully make these payments, Self allows you to increase your available credit, providing a tangible reward for your efforts in building credit. This process encourages financial discipline and offers a clear path to a higher spending limit.
Opportunity for Unsecured Credit Limit Increases
Beyond the secured credit limit increases tied to your Credit Builder Account, Self also considers cardholders for an unsecured credit limit increase. This opportunity becomes available to those who have held a Self Visa card for six months or longer. This signifies a transition from a secured limit, where your credit line is backed by your savings, to an unsecured one, based on your demonstrated creditworthiness.
Key Factors Influencing Your Credit Limit
The primary factors influencing your credit limit with Self include:
- Consistent Payments: Making on-time payments to your Credit Builder Account is crucial for increasing your secured limit.
- Card Tenure: Holding the Self Visa Card for an extended period, particularly six months or more, opens the door to potential unsecured credit limit increases.
The Self Visa Card's adaptable credit limit structure provides a clear path for individuals to gradually increase their spending power while simultaneously improving their credit score.
