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3.3. Credit history and your credit limit

Credit card providers also use credit history to help them assign credit limits (when one isn’t requested), and to assess credit limit requests. A credit limit will only be offered or approved if the provider decides you will be able to manage it – and your credit history can help them determine that.

Your credit limit can also have an impact on your credit report, as lenders could assume you will use all of the available credit. By regularly reviewing your credit report, you can see how much total credit you have access to and make decisions about what accounts you want to keep open or cancel, which could help you if you want to apply for bigger loans.