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Scapia drastically reducing credit limit.
- Thread starter abhi-t
- Start date
harish6704
TF Neo
Yes.. Recently I got the sms from federal Bank , that your revised limit is now 1 lac ..the scapia federal card was issued to me limit of 6.50 lac ..even paying with an adequate manner they reduced the credit limit by stated as per our policy your credit limit is now 1 lac only .☹️
Jail me naheeb nahi ho rha hai habibi
ranveer008
TF Neo
yes i have also got an sms from federal bank my limit is also reduced from 4.6 lac to 1lac
Deleted member 5552
TF Legend
This is what actually happened 👇👇👇
*Scapia thought in her mind that all applicants are travellers and they may even haven't time to spend much time with their family
*Without thinking twice, without usage of her brain, she started to throw the credit limit
*She expected that she will earn a good income through the applicants/card holders 🙃
*She shocked the usage pattern of her lovely customers
*She recognised her mistake and repented
*She discussed about this with her family members and friends
*Friends adviced Scapia to massage/malish ghutna
*Now Scapia's brain starts to work and came with good solution 👍
*She showed who she is to who neglected her
To know the solution, read the thread and other comments 😄
*Scapia thought in her mind that all applicants are travellers and they may even haven't time to spend much time with their family
*Without thinking twice, without usage of her brain, she started to throw the credit limit
*She expected that she will earn a good income through the applicants/card holders 🙃
*She shocked the usage pattern of her lovely customers
*She recognised her mistake and repented
*She discussed about this with her family members and friends
*Friends adviced Scapia to massage/malish ghutna
*Now Scapia's brain starts to work and came with good solution 👍
*She showed who she is to who neglected her
To know the solution, read the thread and other comments 😄
Don't cry for moon, if you only want to treasure it.
sources told Inc42 that Scapia received a directive from Federal Bank to lower the credit card limit or even disable the cards of some users who have not been transacting actively.
“There is a possibility that the decision was taken against those customers whose credit scores have not been on par with the norms of credit card issuance by CIBIL,” the sources told Inc42.
Turmoil Strikes Scapia Customers As Federal Bank Slashes Credit Limits Of Cobranded Credit Cards
The travel fintech startup Scapia started receiving backlash on social media platforms after it abruptly slashed the credit limit of several of its credit card users..
inc42.com
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Hi sorry didn't get the context of your first sentence. Thanks for sharing the articleDon't cry for moon, if you only want to treasure it.
sources told Inc42 that Scapia received a directive from Federal Bank to lower the credit card limit or even disable the cards of some users who have not been transacting actively.
“There is a possibility that the decision was taken against those customers whose credit scores have not been on par with the norms of credit card issuance by CIBIL,” the sources told Inc42.
Turmoil Strikes Scapia Customers As Federal Bank Slashes Credit Limits Of Cobranded Credit Cards
The travel fintech startup Scapia started receiving backlash on social media platforms after it abruptly slashed the credit limit of several of its credit card users..
But I believe there were few things they could have done better.
1. They mentioned they got directive from federal, so maybe sent intimation before primarily because it is used for international a lot and could affect someone who might be depending on this card. Though RBL and Kotak did the same, probably most users might not be in scenario where this card is their primary driver without alternative. Basically they should have thought of their focus groups which are mostly international travelers
2. I think they gave 10-20% above the highest limit reported in CIBIL during onboarding where they could have been more conservative rather than this sudden drastic decrease for reduction of credit exposure
Definitely some good things were soft cibil check, giving reason for decline, unlimited domestic lounge access and simple UI for app.
Just some thoughts about this whole scenario, at the end it is all on the partner bank discretion and also now with RBI guidelines about the weightage, so nothing much to do other than close if not useful or keep it just for small purchases since it is LTF
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People are crying over something that is not feasible.
If the creditor has given you the limit in lakhs, and your utilization is not even in thousands, then why cry?
The credit must translate into revenue for the lender, but these people were keeping it as a treasure 😀, just for viewing.😜
Baat wahi hai ki, ek bandook hai, par chalti nahi, kyun, kyunki chalane aati nahi, to liya kyun?
chnleo
TF Buzz
I have already requested them to cancel my card. From 10L to 1.4L not at all digestable! I took this card to overseas travel. I am using this card well and made overseas spends too. I was planning to buy Mac Book and iphone pro Max at Malaysia next month valued at 4L. What can I spend with 1.4L now???? Brainless idiots! How many are on the way to cancel scapia cards?
VicksJ
TF Select
I am also thinking on closing the card, but I read somewhere that federal will blacklist and not give another card in future. yours is still 1.4L, mine is reduced to 20k from 10L
There is a cooling period of 3 months. After that you can apply for a core card.
How easy/difficult is it to get core card approved from federal? Is it as easy as yes bank/kotak? Or pain in a** like baroda?
chnleo
TF Buzz
I have axis with 10L, Citi with 16L and hdfc 7L. Why should I reapply from this useless bank? I had applied only for zero forex since I travel. Meaning less now!
Maybe who' Don't have strong backing.. for them might
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