Increasing the credit limit with the PayPal MasterCard is an effective method to have greater possibilities for purchases with the card. In addition, it is a way to reduce the credit utilization rate and create a better credit rating.
In order to get the PayPal MasterCard extras, you need to have a minimum credit score of 650, with those who exceed that score having a better chance. The amount you will be able to spend from the card will depend entirely on your credit history.
How does the PayPal Cashback MasterCard credit card work?
PayPal users are used to the PayPal Credit card with which they can make their purchases on credit anywhere PayPal is accepted. It works like a line of credit that you can use whenever you need it.
However, the PayPal Cashback MasterCard is more sought after because, in addition to allowing you to make purchases on credit, it enjoys all the traditional features of conventional credit cards.
It is a card with which you can make purchases online, and in person anywhere MasterCard credit cards are allowed. It also offers the alternative of connecting the credit line to the PayPal account and using the account as a funding source with retailers that accept it.
With the PayPal MasterCard credit card, you can use it on your travels abroad and it will not have additional transaction fees.
How does the PayPal credit limit increase work?
As with other banks, the credit limit of the PayPal MasterCard credit card can be achieved by using the card. The company constantly monitors your credit card activity.
After ensuring that your use is responsible, you do not exceed or fully use your available credit limit, and you meet all monthly payments on the due date, you can get an unsolicited increase.
Periodic reviews are conducted and may decide whether you deserve the increase after meeting the specific criteria for the automatic increase.
Can I apply for credit enhancement?
Of course. If you do not get the increase within the expected time frame, you can access one of the company’s options for obtaining a limit increase. Some ways you can do this are:
Through a phone call
You can find the corresponding phone number on the back of the credit card and the monthly billing of the PayPal MasterCard credit card. The call is free of charge, and you must follow the operator’s instructions to obtain the increase.
If it is impossible to reach the credit card number, call PayPal customer service at 888 – 221 – 1161. You will be attended by one of their agents and you’ll be able to request the limit increase.
Through the website
In order to do this, you need to have a PayPal account because it means that you already have an account on the company’s website. Log into your account and look for the PayPal MasterCard credit card tab.
There you can view your account status and make payments online. You will find the option to increase the limit on one of the lines. All you have to do is select it and fill in the corresponding boxes to complete the request.
It should be noted that this does not guarantee that you will get the increase. The company will make different studies to determine if you have the right profile to access the increase.
Tips for getting the credit limit increase
As we mentioned before, many factors influence the PayPal credit limit increase. It is not enough to apply to the company for you will be eligible for the increase. To be eligible, you should make sure you comply with the following:
Make payments on time
Before accessing your PayPal MasterCard credit card, you can access traditional credit for online purchases. While you have it, you must make all payments on the corresponding dates and not have overdue invoices.
Keep in mind that this is one of the points most strictly emphasized by PayPal to offer better benefits to its customers. In addition, making all payments on time also improves your credit score.
Do not exceed your credit
As long as you have your credit card, you should avoid maxing it out or overdrawing it because it signals to the bank that you have no control over your spending and are likely to accumulate future debt that you will struggle to pay off.
To be eligible for the limit increase, keep your spending below the limit and pay the outstanding bill in full before making a large purchase.