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What’s A Simple Way To Increase My Borrowing Capacity?

14/8/2019

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Reduce your credit card limit
Most people know that reducing their debts can increase their borrowing limit. But did you know that lowering your credit card limit can increase your borrowing capacity?
Lenders don’t like risk
In working out how much you can borrow, lenders determine the likelihood that you might default on the repayments. In performing this risk assessment, they look at a number of factors including your credit history and job security. But something else they consider is your credit card limit.

​Reduce your credit limit – raise your borrowing capacity
In the eyes of a lender, the higher your credit card limit, the more chance you have to get into financial difficulty. So, if you want a simple way to increase your borrowing limit, get rid of any surplus cards, and reduce your credit card limit to the absolute minimum you need. Want to find out your mortgage borrowing capacity? Talk to Kerry from KLM finance today.
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Phone:​ 0417 867 627

Email: kerry@klmfinance.com.au

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KLM finance ABN 57617732395, Kerry McKenzie is a Credit Representative (Credit Representative Number 399212) of Custom Equity Group Pty Ltd (Australian Credit Licence Number 383666).
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  • Home
  • About
  • Services
  • Blog
  • Contact
  • FAQ
  • CALCULATORS
    • Loan Repayment Calculator
    • Extra repayment calculator
    • Borrowing Power Calculator
    • Home Loan Offset Calculator