I have recently declined an SBI aurum card (FYF) with the reason "Over Leverage". I have a CIBIL of 800 and recently ( 6 months back) closed an HL outstanding ( reflected in my CIBIL statement as well). The agent suggested I close some cards or I think I can reduce the card limits of the likes of HSBC Platinum and RBL Icon, Amex MRCC, which I am not using much. Please suggest the way to do so.
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How to reduce Credit Card limit permanently
- Thread starter SuperKnight
- Start date
D₹V
TF Prestige
Here u go
Kotak is not reducing my credit card limit
Kotak is not reducing my credit card limit, I have a Kotak Rupay Platinum league card with a Limit of more than 10 lacs, and I am requesting Kotak to reduce this limit to 3 lacs only This dumb customer care is telling me there is no offer for you to revise my credit limit. I do not want that...
www.technofino.in
He is also trying aurum.
What is your current exposure to unsecured credit?
Firstly Aurum is not a great card.. secondly don't reduce limit just to get a new card.. more limit will also improve your credit score... use your current cards.. build a score and apply for a new better card... reducing limit is a very regressive step...
It used to be a good thing until RBI decided to pull the plug recently. Many banks now tightened their processes and rejects application because of over leverage.
Hmmm... i haven't faced it as yet.. but cancelling cards / reduction of limits is a very adhoc way to get a new card ( with no guarantee of approval or limits)
It is equal to my annual earnings if you consider the common limits of the Bank in various cards ( such as Axis - 3*9L).
Agreed, never faced before.. My CIBIL is 800, so that is definitely not an issue
Yes, SBI using this term for LE and new cards application.
Which cards you have and what are you planning
So this is why axis increased my cc limit to 28 lakhs so I won't get any new cc in the future 😞
28 L is insane limit
Need to work it out but will definitely close the most Legendary card. I has 5L CL - my second highest - and I haven't used it at all!
From my experience so far I've seen that it is incredibly hard to get credit limits reduced. Both ICICI and Citi tried their best to talk me out of it. The Citi guy especially couldn't believe that someone would even request something like this 
Anyway got ICICI reduced by 3 lakhs and Citi by 2 lakhs. Closed IndusInd Legend of 5L and BoB Easy RuPay of 1.5L. Still trying to get Standard Chartered (3.66L) and HDFC (3L) to reduce their limits.
Anyway got ICICI reduced by 3 lakhs and Citi by 2 lakhs. Closed IndusInd Legend of 5L and BoB Easy RuPay of 1.5L. Still trying to get Standard Chartered (3.66L) and HDFC (3L) to reduce their limits.
