When you've had a credit card for a while and have consistently made on-time payments, you might be in a prime position to request a credit limit increase. This is a strategic move that can ...

That puts your credit utilization at 67%. But if you can raise your credit limit to $3,000, your credit utilization will drop to 50%, a change that should push up your credit score.

Check out our inclusive guide with steps on how to increase or decrease your Citi credit limit and find out if a credit limit increase is the right move for you.

For example, if you consistently have a balance of RM5,000 on your card, your credit utilisation ratio for a limit of RM12,000 is 42%, while a limit of RM17,000 is only 29%.

If a bank confirms a limit increase of $2,500 to $5,000, it's easy to convince yourself that you can spend up to $2,500 more. This is the start of the slippery slope into credit card debt.

Each credit card issuer has its own method for calculating minimum payments due, but when you go over your limit, then you’re likely going to see an increase in the minimum payment too.

If an extra $1,000 isn’t enough, increase it by $2,000. If you’re worried about the temptation of having a higher credit limit, you could build up a savings account that matches your credit limit.