When you re-register for Cover, your limit is recalculated by our system based on your current eligibility. Our fancy computers take a fresh look each time, which means your new limit can be different from what you had before. It may be higher, lower, or stay the same. This is completely normal and just means your limit has been updated to match what you’re currently eligible for.
Even if you don’t re-register, your limit can still change if you go to adjust your plan and you’re not currently on your maximum limit, the available maximum may update to reflect your new eligibility. For example, if you’re on a $100 plan and your previous maximum was $250, but your current eligibility is now $150, the next time you try to adjust your plan, $150 will show up as your new maximum. The old $250 option will disappear, since it no longer reflects what you qualify for.
However, there are things you can do that may help increase your eligibility over time, such as paying your fees and what you borrowed on time, using KOHO for everyday spending, setting up direct deposit, and making use of other KOHO products. These behaviours can help you qualify for higher limits again in the future.