At Pomelo, we're committed to supporting your financial well-being while offering flexibility and control over your spending. We’re excited to announce that we are now introducing personalized limits. Here's everything you need to know about your credit limit with Pomelo:
What is a credit limit?
Your credit limit is the maximum amount you can spend using your Pomelo Mastercard®. It’s designed to help you manage your spending responsibly while meeting your financial needs and building credit.
How is my credit limit determined?
Your credit limit is determined by factors such as your credit bureau information, spending behavior, payment history, and overall financial health. As you use your Pomelo card and pay on- time, you may become eligible for credit limit increases.
How can I increase my credit limit?
To increase your credit limit, simply:
Use your Pomelo Mastercard® regularly for purchases and remittances.
Make on-time payments on your outstanding balances.
Enable autopay to help you pay on time.
Demonstrating consistent, responsible usage signals financial health and may result in a higher credit limit.
What happens if my payment is late?
Late payments may affect your credit limit and could result in a limit decrease. To avoid this, make sure to pay your statement on time.
How will I know if my credit limit changes?
You will receive a notification whenever your credit limit is adjusted. These limit updates will also appear in your Pomelo app, and you will also receive an email confirmation.
Why does Pomelo adjust credit limits?
Starting from 2024, Pomelo began adjusting credit limits to help promote responsible borrowing and ensure that your limit aligns with your financial profile. Our goal is to support your financial health and give you the tools to manage your spending effectively.
Tips for maintaining a healthy credit limit
Pay your statements on time and in full whenever possible.
Check your Pomelo account regularly to monitor your balance and spending.
Need more help?
If you have additional questions or concerns about your credit limit, don’t hesitate to reach out. Our support team is here to help, contact us in-app or by emailing support@pomelo.com.