How Often Does RBC Increase Credit Limit: A Detailed Guide

In the banking industry, the topic of credit limit increases is a frequent area of discussion. The Royal Bank of Canada (RBC), one of the country's largest financial institutions, has comprehensive policies in place to aid its clients in managing their credit. But, how often does RBC increase your credit limit? Let's find out by exploring three primary ways: through Online Banking, the Mobile App, and Customer Service.

Online Banking

To engage an increase in your RBC credit limit through online banking, first, it is important to understand some key points. RBC typically reviews your credit limit every six months, considering factors like payment history, credit use, and financial health. However, if you wish to request an increase earlier, here's the step by step guide to do it.

1. Sign in to your RBC Online Banking account.
2. Navigate to the 'Cards' section on the homepage.
3. Select the card for which you want to increase the credit limit.
4. Click on 'Manage my card settings'.
5. Select 'Increase my limit' and follow the on-screen instructions.

Remember that a credit limit increase via online banking does not guarantee approval. The bank will assess your creditworthiness before making a decision.

Mobile App

In a world that is transitioning to do everything on the go, RBC's mobile app is a very convenient option for requesting a credit limit increase. Through the app, you can access the same features as the online banking portal, and the steps are very similar.

1. Sign in to your RBC Mobile App.
2. Tap on the 'More' button at the bottom right corner.
3. Select 'Cards' under 'Accounts'.
4. Choose the credit card for which you want to increase the limit.
5. Under 'Card Settings', select 'Increase limit'.

Notably, the Mobile App provides instant notifications on the approval or denial of the requested credit limit increase, keeping you updated on the process.

Customer Service

If you prefer speaking with a bank representative before making a decision, calling RBC's customer service for a credit limit increase is another option. Here's what you need to do:

1. Call RBC's customer service number available at the back of your credit card.
2. Prepare to provide your account details and the reason for your credit limit increase request.
3. Allow the representative to ask questions concerning your income or spending habits to better gauge your situation.

The decision to approve or deny the limit increase is instant when you choose to call customer service. However, remember that RBC can also initiate a hard inquiry on your credit report to evaluate your ability to handle additional credit.

In conclusion, regardless of the method you choose to increase your credit limit, keep in mind that it's essential to maintain financial discipline. Monitoring your spending habits and ensuring prompt payment can help maintain a favorable credit score, fostering trust between you and your financial institution.