Kotak credit limit enhancemnt rejected

[Pgoel06]

My zen credit limit enhancement rejected though I provided the itr of 2 years more than 25lac.
Being the privy customer, cibil 792, they did 2 times hard enquiry and gave the reason personal loan and rejected the credit limit request.

What should I do

 

[imdjay]

That depends upon your current limit. And how much is that?

 

[Pgoel06]

That depends upon your current limit. And how much is that?

4lac limit. Last increment on April 23

 

[imdjay]

4lac limit. Last increment on April 23

My best guess is that the limit might go up to at least 6.5 Lakhs. But, who really knows how the bank operates? I had a pre-approved offer for a white card with a 5L limit. Even before applying, I reached out to my RM to ensure a confirmation for increasing the limit to 10L, considering I already hold other cards with limits surpassing 10L. he is still following up with backend team for last 15-20 days.

 

[Pgoel06]

My best guess is that the limit might go up to at least 6.5 Lakhs. But, who really knows how the bank operates? I had a pre-approved offer for a white card with a 5L limit. Even before applying, I reached out to my RM to ensure a confirmation for increasing the limit to 10L, considering I already hold other cards with limits surpassing 10L. he is still following up with backend team for last 15-20 days.

They rejected the request post doing 2 hard enquiry

 

[Pgoel06]

Have raised the request to l2 and l3 but dint get any response from their end. Feel like close every account with them

 

[PRIYANSHU_]

My zen credit limit enhancement rejected though I provided the itr of 2 years more than 25lac.
Being the privy customer, cibil 792, they did 2 times hard enquiry and gave the reason personal loan and rejected the credit limit request.

What should I do

My zen issued july 2023, its limit went from 3L to 88k.

 

[Pgoel06]

My zen issued july 2023, its limit went from 3L to 88k.

Did you surpassed the limit ?

 

[Deepak_Shetty]

My zen issued july 2023, its limit went from 3L to 88k.

From 88k na?

 

[PRIYANSHU_]

Did you surpassed the limit ?

no, i didnt use it much.
used it one time only for jio fiber recharge( Rs 824).

 

[PRIYANSHU_]

From 88k na?

no from 3L to 88K ( downgrade)

 

[D₹V]

Have raised the request to l2 and l3 but dint get any response from their end. Feel like close every account with them

They don't reply well.

What you do now, is raise complaint in BANKING OMBUDSMAN & just wait 💀.

They'll follow you up, badly.

Ask them to remove both the enquiries & again review the limit enhancement too.

 

[sharma]

Have raised the request to l2 and l3 but dint get any response from their end. Feel like close every account with them

Complaint to RBI

 

[Pgoel06]

They don't reply well.

What you do now, is raise complaint in BANKING OMBUDSMAN & just wait 💀.

They'll follow you up, badly.

Ask them to remove both the enquiries & again review the limit enhancement too.

What is the best way to do that. I have never raised complaint to ombudsman

 

[TheGuyTheGuy is verified member.]

Complaint to RBI

I think this is just abuse of the system. What merit do you see?
Bank doesn't deem his case worthy to upgrade. He gave an application to increase, they rejected. The End.

I am genuinely curious.

 

[Lobogris]

I think this is just abuse of the system. What merit do you see?
Bank doesn't deem his case worthy to upgrade. He gave an application to increase, they rejected. The End.

I am genuinely curious.

Absolutely. The Ombudsman won't do anything. It is up to the bank to decide what limit to provide. They can increase, decrease or even close the card at any time. There is nothing the Ombudsman can do. This isn't a violation of any rule.

 

[Lobogris]

My zen credit limit enhancement rejected though I provided the itr of 2 years more than 25lac.
Being the privy customer, cibil 792, they did 2 times hard enquiry and gave the reason personal loan and rejected the credit limit request.

What should I do

What sort of NRV are you maintaining?

 

[sharma]

I think this is just abuse of the system. What merit do you see?
Bank doesn't deem his case worthy to upgrade. He gave an application to increase, they rejected. The End.

I am genuinely curious.

Bro, here the issue is why bank is not replying to people.
Also why they did 2 enquiries.
For this reason I asked him to raise rbi complaint.

 

[sharma]

Absolutely. The Ombudsman won't do anything. It is up to the bank to decide what limit to provide. They can increase, decrease or even close the card at any time. There is nothing the Ombudsman can do. This isn't a violation of any rule.

I know card rejection and limit enhancement are something which bank decides, but as a customer everyone has the right to know the reason for rejections, since he didn't get any update from bank and since bank has done two hard enquiries I have asked him to raise a RBI complaint.

 

[Lobogris]

I know card rejection and limit enhancement are something which bank decides, but as a customer everyone has the right to know the reason for rejections, since he didn't get any update from bank and since bank has done two hard enquiries I have asked him to raise a RBI complaint.

Complaint for what? Enquiry is normal while reviewing a request. They haven't denied the application for a credit card. By your logic, a customer could request a limit increase every month and when the bank declines, he can complain to RBI. So no matter how high a limit is assigned, you can keep requesting more and then keep complaining?