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Help needed. Axis reduced credit limit without any intimation

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LordPSN

TF Premier
VIP Lounge
Hi
My brother has Axis card since 2013.
He got a sms today as follows
"Due to low usage on your Axis Bank Credit Card XX, we will be revising the credit limit on your card to INR 50000 for security reasons. For any queries, call us on 18001035577."

His old credit limit was about 10 lacs. He also has other cards from HDFC, ICICI with limits 8lacs approx.

So what to do now?



Update- Just came to know that he has successfully completed his KYC for Airtel Axis about 3 days ago and today he got the CL reduced message

Update 2- He got 10 lac CL in his new Airtel Axis card. No idea whats going on with Axis to be honest!
 
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coolguy1

coolguy1

TF Ace
Contributor
VIP Lounge
Nothing can be done. The limits are at the sole decision of the bank, they may reduce/increase it based on their algorithms/choice and that's what you agreed to while filling out the application form for the card.

It specifically mentions low usage so if you increase the usage again, they might hike it up.
 
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L

LordPSN

TF Premier
VIP Lounge
Sahilhenzy said:
Kya baat hai aajkal banks limit reduced karte de dete hai. Sunta hu ki card use na karo toh limit increase hota but yaha toh ulta ho rhiya hai
Click to expand...

coolguy1 said:
Nothing can be done. The limits are at the sole decision of the bank, they may reduce/increase it based on their algorithms/choice and that's what you agreed to while filling out the application form for the card.

It specifically mentions low usage so if you increase the usage again, they might hike it up.
Click to expand...
Have you heard from someone else whose Axis CL reduced?
I have heard and read about SBI but never from Axis/HDFC/ICICI
 
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vaibhav111

vaibhav111

TF Legend
TF Family
VIP Lounge
Sr Moderator
Verified User
LordPSN said:
Hi
My brother has Axis card since 2013.
He got a sms today as follows
"Due to low usage on your Axis Bank Credit Card XX, we will be revising the credit limit on your card to INR 50000 for security reasons. For any queries, call us on 18001035577."

His old credit limit was about 10 lacs. He also has other cards from HDFC, ICICI with limits 8lacs approx.

So what to do now?
Click to expand...
try to use any of axis cc and hopefully the limit be reinstated back to the original. in SBI CB they was done and it was due to glitch and limit was revised so may be wait for 3-7 working days.
 
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RAMESH BABU N

RAMESH BABU N

TF Ace
If Axis had issued the card initially with low/moderate limit n increased it regularly - based on good usage - then, why worey when it was reduced - due to abysymally low level of use. Especially compared to a limit of 10L. The 10L limit was only for name sake. Not of any use - in real terms. Probably, got a few other cards - based on this 10L card - and using them - instead of this card.
May be spending pattern got changed or found better rewarding cards or....
So, why worry or complain?
 
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Sahilhenzy

Sahilhenzy

TF Ace
RAMESH BABU N said:
If Axis had issued the card initially with low/moderate limit n increased it regularly - based on good usage - then, why worey when it was reduced - due to abysymally low level of use. Especially compared to a limit of 10L. The 10L limit was only for name sake. Not of any use - in real terms. Probably, got a few other cards - based on this 10L card - and using them - instead of this card.
May be spending pattern got changed or found better rewarding cards or....
So, why worry or complain?
Click to expand...
For me Axis is HDFC. Never increases limit.
 
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S

sxchzy

TF Legend
VIP Lounge
Verified User
this logically makes sense
when liquidity ib the banking system is at an all-time low and banks are hesitant to raise money via higher cost of credit products such as fd, they review such profiles and then they reduce the limit as the specified credit limit is blocked by the bank in their books towards a card
 
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D₹V

D₹V

TF Prestige
LordPSN said:
Hi
My brother has Axis card since 2013.
He got a sms today as follows
"Due to low usage on your Axis Bank Credit Card XX, we will be revising the credit limit on your card to INR 50000 for security reasons. For any queries, call us on 18001035577."

His old credit limit was about 10 lacs. He also has other cards from HDFC, ICICI with limits 8lacs approx.

So what to do now?



Update- Just came to know that he has successfully completed his KYC for Airtel Axis about 3 days ago and today he got the CL reduced message
Click to expand...
RBI circular effect 😝.

Lagta hai mera 15k se ₹500 karega limit 🤡.
 
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the_dark_knight

the_dark_knight

TF Ace
Contributor
What's this so much fuss about card limits? Is having high limits doing any good? At the end, offers are same whether it is 1lac limit or 10lac limit.
The only benefit i see from cc limit is to lower utilisation ratio for improving cibil, but that is better off by acquiring more n more credit cards hence increasing benefits
 
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