A customer should call at 1-800-459-6415 to apply for his credit card limit increase in CTFS.
How to Request a Credit Limit Increase
To initiate a credit limit increase, follow these steps:
- Sign In: Access your account by signing into your Online Account on the Canadian Tire Bank website.
- Navigate to Credit Limit Request: Once logged in, click on the "Details" tab. On the left side, select "Request Credit Limit Increase."
- Follow the Prompts: Complete the online form by providing necessary information, such as your desired credit limit and financial details. Submit the form for review.
Alternatively, you can contact Canadian Tire Bank's Credit Card Customer Service at 1-800-459-6415 for assistance with your request.
Eligibility Criteria
While specific eligibility requirements are not publicly disclosed, maintaining a good credit history and demonstrating responsible credit usage can improve your chances of approval. Factors such as timely payments, low credit utilization, and a stable income may be considered during the evaluation process.
Considerations Before Requesting an Increase
- Credit Score Impact: A credit limit increase may result in a hard inquiry on your credit report, which could temporarily affect your credit score.
- Financial Discipline: Ensure that you can manage a higher credit limit responsibly to avoid accumulating debt.
- Credit Utilization Ratio: A higher credit limit can improve your credit utilization ratio, potentially boosting your credit score if balances are maintained low.