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?

 

[#aniket]

My limit reduced to 50% by kotak today😭.

Interestingly, I have 3 cards with same limit and limit is reduced for only one of them.

For which card, and what could be reason according to you and bank?

 

[iNokia]

How banks react after seeing ur credit report

 

[#aniket]

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

Close your card, grab arum card and then again reactivate your Kotak Card.

It would be better to close two less prioritised card and have one card.

 

[#aniket]

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?

Raise your complaint through the website from level 1 to 3, hope it will get fixed. And yes you can raise your complain to PNO, but make sure you have SRN already so as to quote on the mail which will be sent to PNO.

 

[Lobogris]

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

Where do you see the total available credit limit on CIBIL? It used to be visible but disappeared a few months back.

 

[SSV]

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?

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…

 

[D₹V]

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

You're doing great 😃👍.

But there is highly chance that SBI will reject your aurum application saying over leveraged 🤣.

 

[Aryan Malhotra]

Bro is suffering from success

 

[Tensor]

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

What you're doing is fine, you should always fine tune your credit profile as per your needs. But why Aurum.. That card is mediocre at best. Also, SBI Card is known for poor customer service. I would suggest you to stay away from SBI Card.

 

[SSV]

But why Aurum.. That card is mediocre at best. Also, SBI Card is known for poor customer service. I would suggest you to stay away from SBI Card.

A Prudent advice .

 

[BhaiyaJi]

@cc24x7 what is the expected total limit as per the RM for SBI card? I mean is there any number like 20L / 30L / or 0?

 

[sjmajumder]

What you're doing is fine, you should always fine tune your credit profile as per your needs. But why Aurum.. That card is mediocre at best. Also, SBI Card is known for poor customer service. I would suggest you to stay away from SBI Card.

💯 I second that

 

[sjmajumder]

Batao gajab gajab problem h

By the way knowledgeable thread h

Jaise mere cards mai limit h

Hey bhagwan OP jaise problem mujhe bhi de inti limit de ki pareshan ho jau

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 😁😁😁

 

[BhaiyaJi]

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 😁😁😁

Mostly because of multiple shared credit limit entries like for 3 times of HDFC, 3 times of AMEX, 3 times of Axis/Citi.

 

[shuklalok]

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.

 

[sjmajumder]

Mostly because of multiple shared credit limit entries like for 3 times of HDFC, 3 times of AMEX, 3 times of Axis/Citi.

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

 

[knight]

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…

@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.

 

[dungeonMaster]

Who closes amex for sbi 👀
I've been also trying for sbi vistara prime for 3 consecutive quarters, but no success 💀
Earlier was getting upgrade to elite card on my cashback card, but didn't find that card useful so didn't upgraded.

 

[Riya]

It's the first thread I've read to reduce credit limit.. otherwise everyone gives shortcuts or hacks to increase limit...

 

[SSV]

It's the first thread I've read to reduce credit limit.. otherwise everyone gives shortcuts or hacks to increase limit...

Everything in moderation and in balance, that makes life much happier…