Do you need to increase your credit limit? Check out Strategy for an Upper Limit and learn how Nubank performs this analysis.
many clients nubankone of the banks The most used credit cards in Brazil, you would like to increase the credit card limit credit🇧🇷 This is because although there are many facilities, the Bank It adopts a position similar to that of other institutions when it comes to credit.
That is, it evaluates the profile of customers and issues credit according to their statements. In order to reduce this demand, the financial technology Announce a new credit card limit building feature.
How does the tool work?
First, the functionality allows customers to choose how much they want to spend. Once you do that, simply deposit the amount into the account, click on the ‘Reserva Limit’ option in the app and transfer the amount to the credit card.
In this way, the resources can be used for credit purchases, and during this time they are unavailable and stored in the “Saved Funds” section. With the bill paid, the value returns to the customer and it is possible to continue building the limit or redeem the resources back into the checking account.
Therefore, the main idea of Nubank is to put customers in control of their financial lives and increase the chances of getting a pre-approved limit.
How does Nubanek define customer limits?
When a customer is approved for a Nubank card, the fintech maps that person’s expenses, runs risk analyses, checks the customer’s usage profile, and even checks external data like a score (a score used by Cerasa that indicates someone is likely to delay payments).
All this is done with the aim of determining a safe initial credit level, so that the user does not get into debt. Thus, the algorithm performs this process, analyzing all the data and placing an initial bound on each of them.
Tips for increasing the limit
Here are some tips for getting an approved limit increase at Nubank:
- do not delay paying bills;
- Find out the given limit well;
- Concentration of spending on the Nubank Card;
- Avoid revolving credit, i.e. credit offered to credit card customers who are unable to pay the full amount of the bill;
- pay the total amount of the bill on the due date;
- Keep income updated in the app.
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