Axis Over Limit Consent | Is this a normal Limit Enhancement?

[Mritunjay]

Today, when I logged in to the Axis credit card portal, saw something new. Is this a normal limit enhancement or something else?

 

[mvsaikrishna666]

No, this is not normal Limit enhancement. If your limit is 1 Lakh, during emergency you can use 1.25L. But you will be charged some fee for using that extra amount. 2.5% of over limit used or 500rs whichever is higher.

 

[Dexter]

I am getting this consent in preferences of my credit card net banking portal. Does anyone know about this? Should I accept this or not?

 

[Infiniti]

I am getting this consent in preferences of my credit card net banking portal. Does anyone know about this? Should I accept this or not?

No. you will get charged for the over-charge. this is definitely misseling with the original post photo showing it as "limit enhancement".

 

[ltf4ever]

No. you will get charged for the over-charge. this is definitely misseling with the original post photo showing it as "limit enhancement".

RBI should cancel license for such cheap tricks by such a renowned Bank.

 

[thekirang]

Got this notification today.. what to do ?

 

[ltf4ever]

not

No. you will get charged for the over-charge. this is definitely misseling with the original post photo showing it as "limit enhancement".

not just misselling, but fraud.
even on the consent page, they don't give option of accept or reject overlimit. it is just ' i agree to update consent'.
what they mean by 'update' they have kept a mystery.

 

[piyushpandey]

What should i do if i have allready accept this how i should revert this..

 

[akshayhs]

Even OneCard has a similar system. But they let you opt-in/out at any time, in the card management settings.

 

[ltf4ever]

What should i do if i have allready accept this how i should revert this..

select no option in card settings in the app

 

[mvsaikrishna666]

What should i do if i have allready accept this how i should revert this..

Try revert if there's an option. If not don't worry, just try not to use the card over limit. Also, you can go to card settings and change the max transaction limit.

 

[LUCKY DEVA]

No, this is not normal Limit enhancement. If your limit is 1 Lakh, during emergency you can use 1.25L. But you will be charged some fee for using that extra amount. 2.5% of over limit used or 500rs whichever is higher.

500+90GST exact charges and there is a shows over limit percentage you can choose upto 50% of the credit card limit.

 

[theranos]

this is as per new rbi guidelines every limit enhancement or overlimit usage needs to have consent from customer so banks are just going to take consent for allowing overlimit but sugar coating it with cool ui ux or not completly showing details is also misleading but yes it would not be limit enhancement nor it would not be free overlimit charges

 

[Wealth is my birth right!]

What should i do if i have allready accept this how i should revert this..

Not an issue
As long as u r not over crossing the assigned limit then no charges for u at all