Kotak Credit card limit Revised (decreased)

[JUsbazZE]

I have received a message that My Kotak Zen card limit is revised to 1.2L from 6L for no reason.
I was expecting an enhancement soon

Cibil over 780
Never a Missed a payment
Upto 15-20% usage every month.
Is there any way to retain my limit??

 

[kuldeepsinghrajput]

same from 4 to 1 lakh

 

[pothi]

Is this your only credit card?

If you have multiple cards, then moving all expenses to the other card/s will increase the likelihood for limit enhancement.

 

[JUsbazZE]

Is this your only credit card?

If you have multiple cards, then moving all expenses to the other card/s will increase the likelihood for limit enhancement.

I have over 10 CCs..all have limits over 4L.

 

[anonymuos]

For those whose Kotak CC limit is being reduced, do you have savings account in Kotak or just CC?

 

[Pramtesh]

I have received a message that My Kotak Zen card limit is revised to 1.2L from 6L for no reason.
I was expecting an enhancement soon

Cibil over 780
Never a Missed a payment
Upto 15-20% usage every month.
Is there any way to retain my limit??

My friends limit also reduced 50% from 6to3L

 

[SSV]

I have received a message that My Kotak Zen card limit is revised to 1.2L from 6L for no reason.
I was expecting an enhancement soon

Cibil over 780
Never a Missed a payment
Upto 15-20% usage every month.
Is there any way to retain my limit??

Unless you have a pressing need for Kotak cards and their CL's,.. it is actually a good thing. it reduces your total credit exposure ,there by getting new credit with renowned players becomes easier ...

 

[plastikman]

Limit Kam karke

 

[sudheerreddy]

I have received a message that My Kotak Zen card limit is revised to 1.2L from 6L for no reason.
I was expecting an enhancement soon

Cibil over 780
Never a Missed a payment
Upto 15-20% usage every month.
Is there any way to retain my limit??

have you contacted the support team and they said anything?

 

[SSV]

It seems the following is at works in this Kotak case..

Kotak moment (a.ka. Kodak moment )... Kaching!!!

RBI tightens norms for consumer loans amid rise in unsecured lending

The Reserve Bank of India has increased risk weights for consumer credit exposure in commercial banks, including personal loans, by 25 percentage points to 125%. This comes after warning about the risks of surging personal loans. Unsecured loans have been an outlier at 23%, compared to an...

economictimes.indiatimes.com

 

[HVS]

Moye Moye seriously le liya kotak valo ne.

 

[D₹V]

I have received a message that My Kotak Zen card limit is revised to 1.2L from 6L for no reason.
I was expecting an enhancement soon

Cibil over 780
Never a Missed a payment
Upto 15-20% usage every month.
Is there any way to retain my limit??

It seems the following is at works in this Kotak case..

Kotak moment (a.ka. Kodak moment )... Kaching!!!

RBI tightens norms for consumer loans amid rise in unsecured lending

The Reserve Bank of India has increased risk weights for consumer credit exposure in commercial banks, including personal loans, by 25 percentage points to 125%. This comes after warning about the risks of surging personal loans. Unsecured loans have been an outlier at 23%, compared to an...

economictimes.indiatimes.com

Kursi ki peti baandh lijiye 🤭😂 sab banks ek dusre ko follow karte hue limit Enhancement kam kar dega 🤣.

HDFC & Kotak dekh hi chuke ho, abhi aur banks ka dekhna baaki hai. 🤣🤣.

 

[SSV]

Kursi ki peti baandh lijiye 🤭😂 sab banks ek dusre ko follow karte hue limit Enhancement kam kar dega 🤣.

HDFC & Kotak dekh hi chuke ho, abhi aur banks ka dekhna baaki hai. 🤣🤣.

Actaully to be honest , in majority of the cases, we don't need huge CL's on all of our cards.. only handful of us need in excess of 2 to 3 L...
Its only useful in case of emrgencies.. other than that 90% of us are happy with 2 to 3L CL.. in my view ..

 

[imdjay]

Actaully to be honest , in majority of the cases, we don't need huge CL's on all of our cards.. only handful of us need in excess of 2 to 3 L...
Its only useful in case of emrgencies.. other than that 90% of us are happy with 2 to 3L CL.. in my view ..

Yes. true if banks start giving cards like Infinia without any CL eligibility criteria.

 

[SSV]

Yes. true if banks start giving cards like Infinia without any CL eligibility criteria.

This is also true.. having said that, again Infinia is not for the masses ...

 

[Walter White]

Kotak aur RBL ka competition chalta hai limit reduce karne ka

 

[D₹V]

Actaully to be honest , in majority of the cases, we don't need huge CL's on all of our cards.. only handful of us need in excess of 2 to 3 L...
Its only useful in case of emrgencies.. other than that 90% of us are happy with 2 to 3L CL.. in my view ..

Yes 💯 agree with you.

But banks like HDFC already give less limit 😂 & now giving more less.

 

[Deleted member 21942]

When banks wants us to authenticate with OTP for Limit Enhancement then they should also ask us to authenticate with OTP for Limit Reduction 😆

 

[SSV]

When banks wants us to authenticate with OTP for Limit Enhancement then they should also ask us to authenticate with OTP for Limit Reduction 😆

Actaully there is a RBI instruction very recently issued to get consent from customer to get CL enhanced..
I think before this, there used to be no consent required either for upward or downrward revision ...!!

 

[Chimera-san]

Got a Kotak Myntra CC recently, not even a month ago, first Bill not generated yet. The Limit of the CC was 2.25L, now suddenly in the app it shows the limit as 1L, and used about 1.4L, so it shows -40k in overview.

Today I saw the limit was how it was supposed to be and remain balance as 80k+, now it shows -40k, no other transaction is done, no emi, loan, etc

Is this a bug, or Intentional activity from Kotak