Managing your credit limit
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 Mobile Banking, you can decrease your limit down to any dollar amount in the app, as long as the above criteria is met.
If you're registered for Bank of Melbourne Internet Banking, you can request a decrease online at any time.
Applying for an increase
If you’re registered for Bank of Melbourne Internet Banking, you can apply for a credit limit increase online.
Note: Joint Credit Card Account holders aren’t eligible for a credit limit increase. If you are a joint account holder and would like to understand your options please call us on 13 22 66 or visit your nearest branch.
Alternatively, 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 |
$80,000 |
Vertigo Platinum |
$6,000 |
$80,000 |
Amplify Classic |
$500 |
$80,000 |
Amplify Platinum |
$6,000 |
$80,000 |
Amplify Signature |
$15,000 |
$80,000 |
No Annual Fee |
$500 |
$40,000 |
Essential |
$500 |
$40,000 |
Starts Low Stays Low |
$500 |
$40,000 |
Interest Free Days |
$500 |
$40,000 |
Low Rate Gold |
$500 |
$80,000 |
Gold Advantage |
$1,000 |
$80,000 |
| Platinum Advantage | $6,000 | $80,000 |
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. If you're registered for Bank of Melbourne Internet Banking, you can request a decrease online at any time, 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, access more information here: Financial Hardship
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.
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.