But even if you have an idea of what kind of credit limit you’d like, it’s still up to the bank or provider to decide whether they grant that limit or a lower one.

Most credit card providers, including the Commonwealth Bank, also have minimum credit limits to consider and this information is likely to be listed for almost any card. This gives people some basic guidelines for what sort of credit limit they can expect to get when they apply for a particular credit card.

While the maximum amount of credit available is not usually listed, people who want more credit can look at the minimum options to figure out what cards are likely to cater for their credit limit needs.

The Commonwealth Bank’s Low Annual Fee credit card, for example, has a minimum credit limit of $500, while for the Gold version of this card it is $4000. These limits are applied to all Commbank cards in a tiered-system format, with the following card options and minimum limits available:

• Low Rate cards: $500 minimum
• Gold cards: $4,000 minimum
• Platinum cards: $6,000 minimum; and
• Diamond cards: $15,000 minimum

A good rule of thumb is that more exclusive cards will require higher incomes and, as a result, have higher credit limits for cardholders to work with.

So someone who wants to have at least $6,000 in credit could consider a gold card over a low rate card, while someone who wants more might look at platinum or diamond options.

The important thing to remember about credit limits is that you should only request limits that are manageable. A high limit can lead to greater risks of debt, even with a low interest rate option, as it is harder for people to pay off the balance in full.

While credit limits provider people with some guidelines for using their cards, considering the minimum available and a reasonable limit for your lifestyle will help you find a Commonwealth Bank option that is easy to use and manage all the time.