UPDATE (Successfully Done) - Reduce Credit Limit on ICICI Credit Card.

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ankurmahajan
UPDATE - Thanks to @ Prakash2004. Credit Limit can be changed using Net Banking. If only Credit Card Relationship with ICICI, then use Credit Card Login.

Hi

Does anyone know as to how to decrease the Credit Limit for ICICI Credit Cards ? 
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Deal Cadet Deal Cadet
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In imobile app, go to credit card --> Manage card --> Manage credit limit -->  you can reduce the credit limit to whatever limit you want

Blaze Blaze
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Thanks. But, it only shows the option to adjust spend limit but not the Credit Limit.
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Blaze Blaze
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@vinkum @JD4444 @pointshunter

Thanks for the suggestions. But, the issue is you all must be knowing that there is a concept of maximum permissible credit limit which takes into account all the Loan accounts as well as Credit Cards. And, the over inflated Credit Limit provided by CC issuers eat into that, which results in lower probability of getting the desired Loan amount and issuance of new Credit Cards. So, that's why. Credit Limit provided by ICICI on my two Credit Cards is Rs.10L out of which I will hardly even touch 2L. That’s why I wanted to decrease the credit Limit.

Analyst Analyst
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The only way i know is , do not use the card for sometime and wait for credit limit decrease.

The other option , if you are planning to take big loan, is cancel unnecessary credit cards and wait for 3 to 6 months for CIBIL update.

Having said all this, i still dont think having more credit limit will hamper any loans. If any new info. that you read some where pls. pass on. Otherwise it must be myth as i have credit cards worth 12L credit limits, but never used more than 10k on any ( need to distribute spend across cards).

My credit worthiness never got hit and my loan worthiness is same or more when verified for homeloan last year with hdfc, icici, canara & sbi.

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Deal Cadet Deal Cadet
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Close credit card and get rid of it

Blaze Blaze
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Why would I do that ?

Deal Cadet Deal Cadet
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Talk to the customer care and they will lower your assigned credit limit. I've seen someone done it in SBI last year.

Blaze Blaze
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Thanks.

Deal Newbie Deal Newbie
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I have done it via, netbanking -- View and Manage your Credit Cards --  Manage Credit Card Limits

and decrease it from there

Blaze Blaze
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Thanks a lot. Done using Internet Banking.🖖

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