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Managing your credit limit

From time to time, you might choose to change the limit on your credit card. You may want to increase the limit to accommodate unforeseen expenses while travelling overseas or to avoid being charged Over Limit fees.1 Alternatively, you might decrease the limit if your circumstances change or to mark new milestones as you pay your balance down.

Applying for an increase

If you’re registered for Bank of Melbourne Internet Banking, you can apply for a credit limit increase at any time online.

Alternatively, call 1300 784 934 and say ‘increase card limit’ when prompted or visit your nearest branch.

Registering for limit increase invitations

Did you know that you can also register to receive written credit limit increase invitations so that we can let you know when you are eligible to apply for an offer?

If you’d like to receive invitations to increase your credit limit, register your consent online at any time.

Alternatively, call 1300 307 080. (8am to 8pm, Monday to Friday).

Decrease your credit limit

You can decrease your limit at any time, provided your new credit card limit is higher than the required minimum for your card type, you don’t owe more than your current limit and your account isn’t blocked.

If you’re registered for Bank of Melbourne Internet Banking, you can request a decrease online at any time.

If you are a joint account holder or aren’t registered for Internet Banking, please call 1300 784 934 and say ‘decrease card limit’ when prompted or visit your nearest branch.

Remember that minimum card limits will apply for each credit card. Below is a table outlining the minimum and maximum limits for Bank of Melbourne credit cards.

Product name

Minimum limit

Maximum limit

Vertigo

$500

$80000

Vertigo Platinum

$6000

$80000

Amplify Classic

$500

$80000

Amplify Platinum

$6000

$80000

Amplify Signature

$15000

$80000

No Annual Fee

$500

$40000

Essential

$500

$40000

Starts Low Stays Low

$500

$40000

Interest Free Days

$500

$40000

Low Rate Gold

$1000

$80000

Gold Advantage

$1000

$80000

The Detail

Bank of Melbourne’s lending policies and guidelines are designed to ensure we lend responsibly. Before applying to increase your credit limit, please make sure you’re comfortable with the higher monthly payments and higher credit limit.
To manage your credit card, just remember these two simple rules:

a. Always aim to pay off more than your monthly minimum amount as making minimum payments is not an effective way to manage your credit card debt.

b. Make sure your credit limit is realistic. Call us on 1300 784 934 (8am and 8pm, Mon to Fri) if you want to reduce your credit limit, and it’ll be effective immediately.

There can be reasons, such as job loss or illness, which can mean that even the most responsible borrower might get into temporary financial difficulty. If you find yourself in this position, just call us on 13 33 30 (8.30 am-7.30 pm, Mon – Fri & 9.30 am-5.00 pm, Sat, AEST).

Terms and Conditions: Credit criteria apply. We’ll write to you within 20 days of receiving your application to confirm any changes to your credit limit. We reserve the right to decline your credit limit increase application including where your application is incomplete or where your card account is not in order.

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you. If you need help, call 13 33 30.

1. If your card account was opened before 4 June 2012, a fee will be charged in accordance with your credit contract every time you exceed your credit limit during a statement cycle.