How To increase Fuliza loan limit, it’s important to understand the criteria and behaviors that Safaricom and its partner banks consider when assessing your eligibility. Here is a detailed explanation:
1. Regular Usage of Fuliza
Consistent use of the Fuliza service is a key factor in increasing your loan limit. By using Fuliza to complete transactions when your M-Pesa balance is insufficient, you demonstrate a need for the service. This could involve paying for goods and services, sending money to friends and family, or making other payments. The more frequently you use Fuliza and the more transactions you complete, the more data Safaricom has to evaluate your usage patterns, which can positively influence your limit.
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2. Timely Repayments
One of the most crucial factors in increasing your Fuliza loan limit is your repayment history. Ensuring that you repay the borrowed amount promptly shows that you are reliable and financially responsible. Timely repayments build trust with the service provider. Make it a habit to repay your Fuliza debt as soon as possible, ideally before it becomes overdue. This not only helps in maintaining a good relationship with Safaricom but also boosts your creditworthiness.
3. Maintain an Active M-Pesa Account
Keeping your M-Pesa account active is essential. Use your M-Pesa account for various transactions such as sending and receiving money, purchasing airtime, and paying for utilities or other services. An active account indicates regular financial activity, which can positively impact your Fuliza loan limit. An inactive or rarely used account may signal that you are not engaged with the service, thereby reducing the likelihood of a limit increase.
4. Increase M-Pesa Transactions
The volume and number of transactions on your M-Pesa account can significantly affect your Fuliza loan limit. The more transactions you conduct, the better your chances of qualifying for a higher limit. This is because frequent transactions indicate that you are actively engaged in financial activities and likely to need and use a higher limit responsibly.
5. Update Personal Information
Ensuring that your personal information is up-to-date is crucial. This includes having accurate identification details and a complete profile with Safaricom. Updated information helps in better assessing your eligibility and credibility. Make sure your profile reflects any changes in your status, such as a new job, increased income, or other relevant personal data.
6. Maintain a Good Credit History
Your credit history with other services like M-Shwari or KCB M-Pesa can influence your Fuliza loan limit. A good credit history indicates that you are a trustworthy borrower. If you have a positive record of repaying loans or managing credit responsibly with these services, it can improve your chances of getting a higher Fuliza limit. Ensure that you manage all your financial obligations well, as this holistic view of your creditworthiness can play a significant role.
7. Customer Loyalty
Long-term loyalty to Safaricom can also work in your favor. Customers who have been with Safaricom for a longer period and have demonstrated consistent usage patterns are more likely to receive higher limits. Loyalty shows that you are a dedicated customer, which can be rewarded with a higher Fuliza limit.
8. Contact Customer Service
If you believe your current Fuliza limit does not reflect your usage and repayment patterns, you can reach out to Safaricom customer service for assistance. Sometimes, a manual review of your account might reveal eligibility for a higher limit. Explain your situation and request a review of your limit. Be prepared to provide any additional information or documentation that might support your case.
Conclusion
Increasing your Fuliza loan limit involves demonstrating responsible usage and repayment behavior, maintaining an active M-Pesa account, and keeping your personal and financial information up-to-date. By consistently using the service, repaying on time, and showing overall financial responsibility, you can improve your chances of qualifying for a higher limit. Additionally, staying loyal to Safaricom and communicating with customer service when necessary can further aid in achieving this goal
