Credit Card Limit enhancement: Opt in?

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Deal Lieutenant
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Received a message eligible for increase in credit limit of ICICI Amazon Pay Card to 10lacs without any charges..
Am not a heavy purchaser using this card, but is it worth to opt for it >>
any cibil benefits having higher limits in cards?
any ideA?

26 Comments  |  
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Yes, it will help maintain a good cibil when you have to spend a large number.
Its always good to have CC with higher limits.

What was your earlier credit limit?

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With increased limits, it will bring down your utilisation ratio, which is a good sign that it shows you are not credit hungry. This is applicable provided you maintain your expenses on this card the usual way.

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nimod wrote:

Yes, it will help maintain a good cibil when you have to spend a large number.
Its always good to have CC with higher limits.

What was your earlier credit limit?

max limit of one of my cards was 6L

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sms sent..received update after 1 minute that request is processed successfully.. sunglasses

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DealFinder wrote:

sms sent..received update after 1 minute that request is processed successfully.. sunglasses

How much you generally spend in a month using that card?

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6 lakh current and 10 lakh after increase……. dizzy_face dizzy_faceis it really possible to have this much limit ?

message to mujhe bhi aya az card ke liye icici se from 60 to 90k limit ke liye… 

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I received the message too but I am generally apprehensive of high limits on my credit card due to general possibility of misuse. In case somehow my card gets compromised I might be in deep trouble.

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raghupro wrote:

I received the message too but I am generally apprehensive of high limits on my credit card due to general possibility of misuse. In case somehow my card gets compromised I might be in deep trouble.

set transaction limit? wink

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waterloo wrote:

set transaction limit? wink

This feels awkward. Can I do that? Let me check the icici app and explore a bit.

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Always opt in for limit increase as that makes you eligible for higher end cards quicker than normal.

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I dont understand sbi , they wont increwsee limit on my old simplyclick card but gave me new tata card with double the limit of old

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raghupro wrote:

I received the message too but I am generally apprehensive of high limits on my credit card due to general possibility of misuse. In case somehow my card gets compromised I might be in deep trouble.

No trouble for credit card.
The risk is fully @ the company and not to the customer..
Credit Card business is a risky one and thatz the only reason why they charge 40percent plus interest in a year.. sunglasses

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raghupro wrote:

I received the message too but I am generally apprehensive of high limits on my credit card due to general possibility of misuse. In case somehow my card gets compromised I might be in deep trouble.

i think recently RBI has introduced some rules where customer should be able to set the transaction limits etc and shoudl be accessible 24/7.
Need to check it though.

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demerius2020 wrote:

I dont understand sbi , they wont increwsee limit on my old simplyclick card but gave me new tata card with double the limit of old

no idea on what business model these banks operate on increasing the limits.. rolleyes

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raghupro wrote:

I received the message too but I am generally apprehensive of high limits on my credit card due to general possibility of misuse. In case somehow my card gets compromised I might be in deep trouble.

Regarding concern for misuse, Credit card protection will be useful in that case.

You can set limits on your card now. Having a higher limits but keeping utilization low helps maintain a better credit score. Also, you will become eligible for credit card upgrades.

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indiansoul wrote:

Regarding concern for misuse, Credit card protection will be useful in that case.

You can set limits on your card now. Having a higher limits but keeping utilization low helps maintain a better credit score. Also, you will become eligible for credit card upgrades.

yes make sense…

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DealFinder wrote:

no idea on what business model these banks operate on increasing the limits.. rolleyes

the business model of shutting down by loosing customer by annoying them wink

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DealFinder wrote:

i think recently RBI has introduced some rules where customer should be able to set the transaction limits etc and shoudl be accessible 24/7.
Need to check it though.

SBI Card already allowing that.

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DealFinder wrote:

sms sent..received update after 1 minute that request is processed successfully.. sunglasses

I have also got limit upgrade offer on amazon icici yesterday

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Always apply for limit increase whenever you get an offer. There is no fear of misuse as all credit cards are 100% protected and the onus is on the credit card company.

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raghupro wrote:

This feels awkward. Can I do that? Let me check the icici app and explore a bit.

in SBI . HDFC u can do it. But could not find in ICICI
in ICICI u can reduce limit thru netbanking/app though
@DealFinder

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akki.akki wrote:

6 lakh current and 10 lakh after increase……. dizzy_face dizzy_faceis it really possible to have this much limit ?

message to mujhe bhi aya az card ke liye icici se from 60 to 90k limit ke liye… 

21 second me credit limit double.

Missing