OneCard Monthly Limit

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Ahtsham

I am using OneCard (Fd based) for completing offers and also for getting 5x points. My credit limit is rs 2200 and after every transaction, I used to clear my outstanding balance even before bill generation date to get my credit limit back, so that I can transact once again to get maximum benefits.

But yesterday, my transaction was declined even when I had zero outstanding balance and I got a text message saying " Sorry, we had to decline your last OneCard txn as your total billed purchases for the month are exceeding your assigned monthly credit limit. To contine using the card, increase your credit limit by making an additional fixed deposit".

I contacted OneCard Customer Care and their response was “In this billing cycle for the current month of 20th of April, 2022 to 20th of May, 2022, you have already made total new spending of ₹14,762.80. This is usually not considered a credit healthy behavior. If you wish to transact more, you may create an add-on FD ranging between 2K to 1 Lakh, and then you shall be able to accommodate these expenses in a planned manner.”
When I asked them what is their monthly transaction limit, I was told it’s the same as  your limit of Rs 2200. Even then, I was allowed to make transactions worth Rs 14762 so far in this billing cycle. They also told me that you the transaction would get declined till next 30 days from the last successful transaction.

I want to know if anyone else has faced the same or not. And will I be allowed again to transact during next bill cycle or I have to wait for 30 days. And if anyone know the actual monthly transaction limit. Do other bank Credit cards have also set such restrictions or not?

Also please tag anyone who can answer.

Update: As informed by @tappukepapa , there is some 6x-7x monthly transaction limit for the total credit limit while spending and repaying. So, next time, use OneCard keeping this in mind.

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Ahtsham wrote:

@vkrmjeet @kshmr @tappukepapa

Same thing has happened with my cousin, he was also doing exact same things with his Onecard i.e. Spend and Pay. He Spent around 14k in a month in his 2200 Limit Onecard. His transactions were also declined. Then he was forced to make an additional 2k Fd.
As per my analysis and other dimer’s, the limit is around 6X to 7X of your card limit.

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tappukepapa wrote:

Same thing has happened with my cousin, he was also doing exact same things with his Onecard i.e. Spend and Pay. He Spent around 14k in a month in his 2200 Limit Onecard. His transactions were also declined. Then he had to  make an additional 2k Fd.
As per my analysis and other dimer’s, the limit is around 6X to 7X of your card limit.

6x-7×. Okay, now got it. Will keep this in mind next time.

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Ahtsham wrote:

6x-7×. Okay, now got it. Will keep this in mind next time.

Better wait for Statement generation, rather than creating additional FD.

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Ahtsham wrote:

@vkrmjeet @kshmr @tappukepapa @abhishek012 @MrMonkey

i never did this much transactions with my card but i don’t think there will be 30 days wait for u as it is a normal credit card limit should reset from the bill cycle & transactions u did will belong to past bill cycle.
try after 20 , i am pretty sure it will work after that. dont do additional fd.

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tappukepapa wrote:

Same thing has happened with my cousin, he was also doing exact same things with his Onecard i.e. Spend and Pay. He Spent around 14k in a month in his 2200 Limit Onecard. His transactions were also declined. Then he was forced to make an additional 2k Fd.
As per my analysis and other dimer’s, the limit is around 6X to 7X of your card limit.

After he made an additional 2k fd, was he able to spend immediately or after that same 30 days limit?

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vkrmjeet wrote:

i never did this much transactions with my card but i don’t think there will be 30 days wait for u as it is a normal credit card limit should reset from the bill cycle & transactions u did will belong to past bill cycle.
try after 20.

Yeah, that’s what surprised me. They should reset this limit every billing cycle.

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tappukepapa wrote:

Better wait for Statement generation, rather than creating additional FD.

Ok, if they still didn’t allow me after 20 of this month, then I will create an additional fd. Because I don’t want to miss their offers.

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Ahtsham wrote:

After he made an additional 2k fd, was he able to spend immediately or after that same 30 days limit?

Immediately, as limit had been reset.

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Ahtsham wrote:

Ok, if they still didn’t allow me after 20 of this month, then I will create an additional fd. Because I don’t want to miss their offers.

Where are you using it as mostly offers has been stopped on this card.

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tappukepapa wrote:

Where are you using it as mostly offers are stopped on this card

Yeah, there is no offer right now. But I was using it for Fuel Payments and for Paytm-Zomato add money trick as it was offering spins and 5x points. Also I don’t want to miss any future offer. That’s why want to clear everything.

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Ahtsham wrote:

Yeah, there is no offer right now. But I was using it for Fuel Payments and for Paytm-Zomato add money trick as it was offering spins and 5x points. Also I don’t want to miss any future offer. That’s why want to clear everything.

I have used my spins last month.
Have spins renewed this month too?

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sj38931413 wrote:

I have used my spins last month.
Have spins renewed this month too?

I have no idea if they were renewed or not. Actually I haven’t used all my spins last month, hence was using this month also.

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Does spending and paying before bill generation effects your credit score because I got this message from One Card “We would like you to know that excess repayment towards your OneCard and usage beyond your assigned limit may be considered as an offbeat transaction pattern and might hamper your credit health.”
Do they report the whole statement to these credit score agencies or just the bill amount and repayments? @vkrmjeet @kshmr @tappukepapa @abhishek012 @MrMonkey

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Ahtsham wrote:

Does spending and paying before bill generation effects your credit score because I got this message from One Card “We would like you to know that excess repayment towards your OneCard and usage beyond your assigned limit may be considered as an offbeat transaction pattern and might hamper your credit health.”
Do they report the whole statement to these credit score agencies or just the bill amount and repayments? @vkrmjeet @kshmr @tappukepapa @abhishek012 @MrMonkey

Nope it doesn’t.
If you download your whole credit report it has a column for total repayment something there you will be able to see total repayment in bill cycle , everything is reported to cibil but the actual outstanding matters at the date of reporting i.e last day of month for one card.
i have spent 2x credit limit on axis but the credit utilization was 25% on the reporting day ,there was no effect on Cibil.

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vkrmjeet wrote:

Nope it doesn’t.
If you download your whole credit report it has a column for total repayment something there you will be able to see total repayment in bill cycle , everything is reported to cibil but the actual outstanding matters at the date of reporting i.e last day of month for one card.
i have spent 2x credit limit on axis but the credit utilization was 25% on the reporting day ,there was no effect on Cibil.

Ok. It means to build a good credit score, we can use as much as possible but should repay it before bill generation to reduce outstanding balance to less than 25-30% of total credit limit.

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Ahtsham wrote:

Yeah, there is no offer right now. But I was using it for Fuel Payments and for Paytm-Zomato add money trick as it was offering spins and 5x points. Also I don’t want to miss any future offer. That’s why want to clear everything.

Onecard gives 1% cb on txns after 5x boost & the max limit to add to wallet via paytm/zomato trick is 4k which means just Rs.40. Is all this effort & hassle worth it?

@admin “onecard” in thread title please.

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Ahtsham wrote:

Ok. It means to build a good credit score, we can use as much as possible but should repay it before bill generation to reduce outstanding balance to less than 25-30% of total credit limit.

Hope you already got answer for you query.

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guest_999 wrote:

Onecard gives 1% cb on txns after 5x boost & the max limit to add to wallet via paytm/zomato trick is 4k which means just Rs.40. Is all this effort & hassle worth it?

@admin “onecard” in thread title please.

Actually it’s fuel payments which are giving me good rewards as I don’t have any other card which is giving even this much cashback on fuel spends. Hence it’s worth it for me atleast.

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Ahtsham wrote:

Ok. It means to build a good credit score, we can use as much as possible but should repay it before bill generation to reduce outstanding balance to less than 25-30% of total credit limit.

no the date on which data is reported to cibil matters for one card it is last day of month.

Suppose these two cases
Case 1 : u use 2000 our of 2200 , bill is generated and amount due is 2000 you pay nothing but pay the whole amount before the last day of month (it should settle before last day) i.e for may month if you pay whole amount on 30 may bill amount doesnt matter on 31 may credit utilization reported will be 0%.

Case 2 : u use 200 out of 2200 bill is generated and amount due is 200 and u repay after bill generation but on last day of month amount due is 2000 your credit utilization will be 91% !!!

hope u understand now.

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tappukepapa wrote:

Same thing has happened with my cousin, he was also doing exact same things with his Onecard i.e. Spend and Pay. He Spent around 14k in a month in his 2200 Limit Onecard. His transactions were also declined. Then he was forced to make an additional 2k Fd.
As per my analysis and other dimer’s, the limit is around 6X to 7X of your card limit.

Do you have any idea about how much pre-payment is allowed in Onecard to increase Credit limit for a transaction higher than the available credit limit?

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vkrmjeet wrote:

no the date on which data is reported to cibil matters for one card it is last day of month.

Suppose these two cases
Case 1 : u use 2000 our of 2200 , bill is generated and amount due is 2000 you pay nothing but pay the whole amount before the last day of month (it should settle before last day) i.e for may month if you pay whole amount on 30 may bill amount doesnt matter on 31 may credit utilization reported will be 0%.

Case 2 : u use 2000 out of 2200 bill is generated and amount due is 2000 and u repay after bill generation but on last day of month amount due is 2000 your credit utilization will be 91% !!!

hope u understand now.

Oh, now I got it. You seems to be an expert in credit cards. Thanks for this explanation. Is this data reporting date same for every bank? I also have one Axis cc. I want to know the date for it.

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Ahtsham wrote:

Oh, now I got it. You seems to be an expert in credit cards. Thanks for this explanation. Is this data reporting date same for every bank? I also have one Axis cc. I want to know the date for it.

there are two days at which cc reports to cibil
1. at bill generation (icici & 1-2 other banks)
2. at the last day of month (axis,kotak,bob and most banks)

axis reports on the last day of month.
spend whatever u want just pay before last day don’t worry about bill generation.

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vkrmjeet wrote:

there are two days at which cc reports to cibil
1. at bill generation (icici & 1-2 other banks)
2. at the last day of month (axis,kotak,bob and most banks)

axis reports on the last day of month.
spend whatever u want just pay before last day don’t worry about bill generation.

Okay, now everything sorted blush

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vkrmjeet wrote:

there are two days at which cc reports to cibil
1. at bill generation (icici & 1-2 other banks)
2. at the last day of month (axis,kotak,bob and most banks)

axis reports on the last day of month.
spend whatever u want just pay before last day don’t worry about bill generation.

Not really, its always gud to check cibil report. For me one axis card report on 15th of every month

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Ahtsham wrote:

Okay, now everything sorted blush

Just fyi, you can see the reporting dates by banks in your cibil report(the detailed version) under each card section( “Date Reported And Certified” ).
@vkrmjeet

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Ahtsham wrote:

Do you have any idea about how much pre-payment is allowed in Onecard to increase Credit limit for a transaction higher than the available credit limit?

They are not allowing to pay more than your card limit in a single transaction. You can do as much prepayment but can only use your basic Fd limit in one go. Earlier they were allowing it.

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