Did you know your borrowing capacity decreases by approximately 4-5 times your credit card limit, not just the balance?
For instance, a $10,000 credit card limit could mean your borrowing capacity is reduced by up to $50,000.
There’s no need to adjust your credit card limit before our discussion, but it’s a strategy we can explore to enhance your financial goals.
Wondering what else impacts your borrowing capacity? Factors include late payments, any defaults, HECS debt, and certain living expenses.
In summary, if you’re curious about your borrowing capacity and how to optimise it for your future purchases or investments, let’s have a conversation.
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