Difference in Spend Limit (App) vs Manage Limit (NetBanking) in ICICI CC ??

[DEEP_RAY]

Hi All,

I am new to ICICI Credit Card. While I was trying to manage my card, I found 2 options available in Netbanking and iMobile application.

1. Spend Limit (app) - Via this I can reduce my spend limit from 10% to 100% of my actual credit limit.
2. Manage Limit (Netbanking) - I can see it is asking for new limit.

So what is the difference between these 2 options ? Can someone please elaborate ?

I think functionality of 2 options are different. Because - I have changed my Spend limit to 10% (10K) but in Netbanking manage limit showing current limit (1Lakh) and Max possible (1 Lkh).

 

[SSV]

This is my understanding:
1) Maximum available CL/ Offered CL -- this is the maximum limit granted by ICICI depending upon your credit worthiness
2) Current credit limit is the limit you want to set as your CL ( this should be less than Offered CL means this is sub set of Maximum available CL).
This can be set in Net banking.. This will be printed on your statement as well as reported to credit bureaus as your CL on that card.
3) Spend limit is subset of Current limit. This will restrict you not to spend more than this limit at any point of time.. Your transaction gets rejected once it breaches this limit even though you have more current credit limit. This can be set only in Imobile App , it seems. This doesn't impact your Current CL .
It is there not to allow you to cross your total spend independent of Current CL. You can say this to make you to be more fianacially desciplined..

So in essence, (Spend limit) < (Current credit limit) < (Maximum / offered CL).
Spend limit you set in Imobile App
Current CL you set in Netbaking.
Purpose of these two are different.

In some cases, there will be slight delay in syncing data updation between IMobile App and Net Banking App . Give it some time and see those will be synced

More discussion later , as it is getting late...

 

[DEEP_RAY]

This is my understanding:
1) Maximum available CL/ Offered CL -- this is the maximum limit granted by ICICI depending upon your credit worthiness
2) Current credit limit is the limit you want to set as your CL ( this should be less than Offered CL means this is sub set of Maximum available CL).
This can be set in Net banking.. This will be printed on your statement as well as reported to credit bureaus as your CL on that card.
3) Spend limit is subset of Current limit. This will restrict you not to spend more than this limit at any point of time.. Your transaction gets rejected once it breaches this limit even though you have more current credit limit. This can be set only in Imobile App , it seems. This doesn't impact your Current CL .
it is there not to allow you cross you total spend independent of Current CL. You can say to control to be more fianacially desciplined..

So in essence, (Spend limit) < (Current credit limit) < (Maximum / offered CL).
Spend limit you set in Imobile App
Current CL you set in Netbaking.
Purpose of these two are different.

More discussion later , as it is getting late...

Respect 🙏🏽.
Point 2 Point explanation.

Thanks.

 

[Bodhi]

This is my understanding:
1) Maximum available CL/ Offered CL -- this is the maximum limit granted by ICICI depending upon your credit worthiness
2) Current credit limit is the limit you want to set as your CL ( this should be less than Offered CL means this is sub set of Maximum available CL).
This can be set in Net banking.. This will be printed on your statement as well as reported to credit bureaus as your CL on that card.
3) Spend limit is subset of Current limit. This will restrict you not to spend more than this limit at any point of time.. Your transaction gets rejected once it breaches this limit even though you have more current credit limit. This can be set only in Imobile App , it seems. This doesn't impact your Current CL .
It is there not to allow you to cross your total spend independent of Current CL. You can say this to make you to be more fianacially desciplined..

So in essence, (Spend limit) < (Current credit limit) < (Maximum / offered CL).
Spend limit you set in Imobile App
Current CL you set in Netbaking.
Purpose of these two are different.

In some cases, there will be slight delay in syncing data updation between IMobile App and Net Banking App . Give it some time and see those will be synced

More discussion later , as it is getting late...

Well put forth @ssv