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What is my credit limit?

You can find your latest credit limit by logging in to your Polar Credit account and going to the Account section. In this section you will find your credit limit, your outstanding Polar Credit Line balance and your available credit that you can use if you need to borrow more money.

Your outstanding Polar Credit Line balance is the amount you need to repay to settle your debt with us in full. For example, if you have an outstanding balance of £375, this means you need to repay £375 to clear your debt.

Your available credit is the additional amount that you are able to borrow at that moment in time. For example, if your credit limit is £1250, and you have already borrowed £100, then your available credit is £1150. Please use your Polar Credit account sensibly and only borrow the money that you need. Interest will be applied to the money that you borrow on a daily basis which means that the more you borrow the more interest you will have to repay.

Please note that we may change your credit limit in accordance with the terms of your Credit Agreement. Your limit may be increased from time to time, subject to our ongoing affordability and creditworthiness assessment of your account activity, and we will contact you about any proposed increase by email in advance. We will not increase your credit limit unless you respond to our email confirming you would like us to do so. We may also decrease your limit as part of our responsible lending assessment. We will write to you to let you know that we have reduced your credit limit after we have done so.