At this time, you can’t request a lower credit limit for Neo credit cards or lower it yourself.

In some cases, Neo may automatically reduce a credit limit. This happens as part of our regular account reviews and is based on how an account is used over time.

When Neo may reduce a credit limit

Neo may adjust the credit limit automatically if you don't pay your bills on time, you use less credit than you need, or you don't use your card often.

What happens if your credit limit is reduced

If Neo reduces your credit limit, the change may be temporary or permanent. We'll let you know if your credit limit has changed.

Temporary credit limit reduction: In some cases, the change may be temporary and your account will show that it's restricted. If action is needed, we’ll email you with details. You may be able to remove the restriction by making a payment or providing additional information.
Permanent credit limit reduction: In other cases, the change may be permanent, such as when an account has been inactive for a long time. These changes don’t require follow-up and may not appear as a restriction in the app.

Secured credit cards

For secured credit cards, your credit limit is based on the amount you’ve added to your security fund.

You can’t lower the credit limit on a secured card
Security funds can only be withdrawn when the secured credit card is closed

Other ways to manage your spending

If you’re looking to limit spending without changing your credit limit, here are a few options:

Set up spend notifications

Customize your notifications to get notified whenever a purchase is made with your card. You can also customize the alerts to get notified when your card balance is approaching a set amount.

Manage your transaction settings

You can disable different types of transactions by managing your card’s transaction settings, including cash withdrawals, online transactions, and tap/chip/swipe transactions.

Freeze your card

If you want to disable all transactions for your card, you can freeze your card.

Credit limits and your credit score

Your credit limit affects your credit utilization, which is an important factor in your credit score.

Using less than 30% of your available credit is generally recommended. If you have a higher limit but keep balances low, your utilization rate stays lower.

To manage utilization, you can: