Any benefits of increasing ICICI credit card limit?

[Prem03]

I am getting limit enhancement on my ICICI Amazon credit card from 7.5 Lakh to 9 Lakh. Are there any benefits of opting for the increased limit on ICICI CC?

My current usage on this CC is not more than 2 Lakh and One Score shows my overall CL as 34 Lakh.

 

[Mr. BeanMr. Bean is verified member.]

Irrespective of the CC, increasing the limit helps to reduce the overall credit utilization in CIBIL and other credit bureaus.

 

[coolguy1]

Several perks,

- Higher limit on other cards
- Lower credit utilization
- Opens door to new premium cards
- Makes you feel better about yourself
- Allows you to flaunt in front of your friends
- Makes you susceptible to losing even more money if hacked

But yeah, you get it, mostly perks as long as you keep it safe.

 

[Prem03]

Thank you @Mr. Bean and @coolguy1
As per your suggestions, I have availed the enhanced credit limit.

 

[Hemang]

Thank you @Mr. Bean and @coolguy1
As per your suggestions, I have availed the enhanced credit limit.

Mere bhai downside ye hai ki for banks like SBI, we look over leveraged. Even if we never use that money, unsecured card me count hoti hai limit iski. Aur ICICI ke chakkar me humari profile over leverage me chali jati hai. Iss liye mene abhi platinum cc and coral cc band karvaye the.

 

[Mr. BeanMr. Bean is verified member.]

Mere bhai downside ye hai ki for banks like SBI, we look over leveraged. Even if we never use that money, unsecured card me count hoti hai limit iski. Aur ICICI ke chakkar me humari profile over leverage me chali jati hai. Iss liye mene abhi platinum cc and coral cc band karvaye the.

With ICICI bank CCs, you have the option to reduce the credit limit to 10% of max credit limit. For OP, he can reduce it to 1 lac (approximately) if he wishes so in the future. Then, after a few months / years, he can increase again to 9 lakh. It takes upto 90 days to see the change in credit limit of ICICI cards in credit bureaus, though. With the recent change in reporting frequency, it may faster going forward.

 

[Hemang]

With ICICI bank CCs, you have the option to reduce the credit limit to 10% of max credit limit. For OP, he can reduce it to 1 lac (approximately) if he wishes so in the future. Then, after a few months / years, he can increase again to 9 lakh. It takes upto 90 days to see the change in credit limit of ICICI cards in credit bureaus, though. With the recent change in reporting frequency, it may faster going forward.

When we change the credit limit in the ICICI application, the change done by us is reflected in the CIBIL report or not ? I didn't knew this fact earlier that the flexible limit is even reported to the CIBIL bureaus.

 

[Mr. BeanMr. Bean is verified member.]

When we change the credit limit in the ICICI application, the change done by us is reflected in the CIBIL report or not ?

It is reflected in CIBIL. Many people utilized this option to reduce the overall credit exposure to get SBI card/s. It just takes time as I already mentioned in the prev post.

 

[Prem03]

Mere bhai downside ye hai ki for banks like SBI, we look over leveraged. Even if we never use that money, unsecured card me count hoti hai limit iski. Aur ICICI ke chakkar me humari profile over leverage me chali jati hai. Iss liye mene abhi platinum cc and coral cc band karvaye the.

I know this fact and that's why I shared the overall CL in the question. As of now, I have never faced the over leveraged issue and I already have SBI Cashback card.

 

[thanix]

Yes take it. Back in the day, with my high CL ICICI card, got Magnus with good limit through C2C route. Only benefit of ICICI card till now.

 

[Dr.Anand456Dr.Anand456 is verified member.]

I am getting limit enhancement on my ICICI Amazon credit card from 7.5 Lakh to 9 Lakh. Are there any benefits of opting for the increased limit on ICICI CC?

My current usage on this CC is not more than 2 Lakh and One Score shows my overall CL as 34 Lakh.

Bro, the Amazon Pay limit increase offer seems to be available to only a select few. I understand you're curious about the possibility of receiving the offer again; however, there's no guarantee.

Could you perhaps share your Amazon Pay card usage patterns? I'd be interested to learn how you received the offer, as I primarily use my Amazon Pay card as well, yet my limit has not increased.