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The time Nubank takes to increase the credit card limit may disappoint many customers. Find out why!
With a base of 77.7 million customers, surpassing even Banco do Brasil, Nubank provides an essential service in the lives of countless Brazilians: the credit card. The famous “little purple card,” from the fintech founded by David Vélez, is one of the most popular in Brazil.
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However, an issue has caused dissatisfaction among many users. When approved for the card, consumers often receive a credit limit below what they wanted. And, to make matters worse, the waiting time for changes can be lengthy, leading customers to consider faster alternatives.
It is not possible to establish a fixed period for Nubank to increase this limit, but it is estimated that the fintech, like others, takes 3 to 6 months to make this adjustment. In reality, this time depends both on the company and the customer’s profile.
Learn how Nubank sets the card limit
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According to Nubank, when approving a customer's card, an algorithm analyzes expense projections, consumption patterns, and risk assessments, and considers external information – the credit score is also crucial here. Therefore, it is the cardholder's data that determines the initial limit.
In addition, according to the fintech's blog, the algorithm is constantly updated with new information. The company also points out that, on some occasions, it increases the limit even before the customer requests it.
How to ‘speed up’ the process of increasing the limit?
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Recognizing that the adjustment may take more than 3 months and that Nubank relies on the customer's data to determine the limit, it is crucial to adopt beneficial behaviors. Here are 6 suggestions to boost this increase:
- Paying bills by the due date;
- Using the available credit;
- Centralizing purchases on the card;
- Avoiding constant use of revolving credit;
- Paying the full bill by its due date;
- Updating income information in the Nubank app.
