Kotak is not reducing my credit card limit

[cc24x7]

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 much limit on my Rupay card and 3 lacs is enough for me hence I am asking then to reduce the limit and every time they reply the same reason and not reducing my card limit
What to do? can I write to PNO about this issue?

 

[avishj]

1.3 Cr is easy I guess. I never requested to any CC ever to increase any of my credit limit, yet incidentally I too have 1.3 Cr 😁😁😁

What application is this? Nice UI.

 

[avishj]

Everything in moderation and balance that makes life much happier…

Gotta reach that point first though

 

[FinoGuy]

@cc24x7 This is correct.
You can modify Kotak limit in app and the same will be reported to CIBIL next time. (30-90 days)

I have tested this over the last few months and it worked.

When exactly will kotak report to cibil? End of month or bill generation date?
Cc @S S V

 

[knight]

When exactly will kotak report to cibil? End of month or bill generation date?
Cc @S S V

Monthend - 30/31

You're in luck.

 

[BhaiyaJi]

Well in that case mine should go up by 30L in the next report as I got 3 new ICICI cards with shared limit
But I also closed One card that will bring it down by 9.65L

In case of ICICI only 1 account for their non-cobranded cards is shown in the report.

 

[Lobogris]

1.3 Cr is easy I guess. I never requested to any CC ever to increase any of my credit limit, yet incidentally I too have 1.3 Cr 😁😁😁

Which application or site is this?

 

[Lobogris]

I believe 1.3 cr is a normal credit limit, it has got nothing to do with Credit Card approvals.
I have only seen Scapia Card decreasing limit😁 out of fear.

Which app or website?

 

[BhaiyaJi]

Its OneScore app.

 

[KingAAR]

In CBIL my total card limits crossed 1.34 crs, and hence I am reducing limits,
I was trying to apply to SBI Aurum and the Relationship manager told me that I have high exposure to credit limits and that is the reason they are not going to consider my Aurum card application, She has suggested closing unwanted cards and also reducing existing card limits if I am not using that particular card limit.
So far I reduced
SC from 9.5 lacs to 5 lacs
OneCard 10 lacs to 2 lacs
RBL 8.5 lacs to 3 lacs, also closed 2nd RBL card
Amex 12 lacs card closed. still have 2 AMEX cards
PNB 5 lacs to 1 lacs
Axis Magnus 10 lacs card closed, now holding only airtel
CITI from 6.4 lacs to 1.5 lacs

Kotak I have three cards with a shared limit of 10+ lacs, So I want to reduce all three card limits to 3 lacs only even its shared limit.

I have been doing this activity since Nov23 and so far score has increased from 803 to 818, I am not much worried about my score as long as it's above 800

is this ciBIL?

 

[vega]

As many of us know, we can decrease the limit in the App like this:



Now it is showing my CL in the home page as 50k only…
In all probability this new reduced limit will be reported to CIBIL, I had read once somewhere in the forum about ICICI doing this..
I strongly believe it’s the same case with Kotak as well. Anyway I reduced my CL now and it will be reported as on 31/01/2024 . Will update here once it is reported in the first week of next month…

3 years back, when I got my Apay with huge limit, and didn't know what to do, so I decreased it.

 

[vega]

Well in that case mine should go up by 30L in the next report as I got 3 new ICICI cards with shared limit
But I also closed One card that will bring it down by 9.65L

Icici reports all core cards in one account, so, no worries 😄

 

[vega]

What application is this? Nice UI.

Which app or website?

It's Freecharge app.

 

[Tejo]

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 much limit on my Rupay card and 3 lacs is enough for me hence I am asking then to reduce the limit and every time they reply the same reason and not reducing my card limit
What to do? can I write to PNO about this issue?

You can limit the credit limit to low.

You can check same in kotak app.

The limit what you set will be reported in CIBIL.

@cc24x7

 

[Riya]

As many of us know, we can decrease the limit in the App like this:



Now it is showing my CL in the home page as 50k only…
In all probability this new reduced limit will be reported to CIBIL, I had read once somewhere in the forum about ICICI doing this..
I strongly believe it’s the same case with Kotak as well. Anyway I reduced my CL now and it will be reported as on 31/01/2024 . Will update here once it is reported in the first week of next month…

I think it's possible only if the credit limit increase offer hasn't been availed... I tried with my kotak card app but it's showing you have already availed this offer... So might have to wait till the next LE offer

 

[kishorvr]

default on your card once
fastest way to get limit reduced

Default and let it go to collections lol.

 

[kishorvr]

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 much limit on my Rupay card and 3 lacs is enough for me hence I am asking then to reduce the limit and every time they reply the same reason and not reducing my card limit
What to do? can I write to PNO about this issue?

Most people in this forum have fought to increase limits and get high value cards.

 

[hs23new]

Good to see this thread, I was trying to this same earlier. For now I have reduced limits on my ICICI CC from 3L to 1L.

How to decrease CC limit in CIBIL?

I have few Rupay floater CC that have high limits and will increase my total credit limit in CIBIL. Since I am not using them more then 25K per month, is there any way to reduce the limits shown in CIBIL on these cards?

www.technofino.in

 

[sjmajumder]

What application is this? Nice UI.

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You will also earn Rs. 100 on viewing your credit report for the first time in the app.

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[rogerthat]

Watching this thread. I want to reduce my credit limits too.