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Fastest way to increase credit limit to 5 lac

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enlightedinvestor

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Hi,

I want to increase credit limit of any of my card to 5,00,000 so that I get eligible for premium cards like Magnus.

Following are the cards with credit limit.

Card:
1. IndusInd Legend (161k)
2. AU Xcite Ace (145k)
3. HDFC Millenia (120k)
4. Amazon Pay (110k)
5. SBI Cashback (101k)
6. Axis Myzone (78k)
7. IDFC Millenia (50k)
8. SC Platinum Rewards (49.5k)

Current salary (~50k)

Can anyone suggest steps to enhance credit limit, considering the current salary which doesn’t makes me eligible for most of the premium cards and hence I want to use card to card basis as method to get premium credit cards.
 
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enlightedinvestor said:
Hi,

I want to increase credit limit of any of my card to 5,00,000 so that I get eligible for premium cards like Magnus.

Following are the cards with credit limit.

Card:
1. IndusInd Legend (161k)
2. AU Xcite Ace (145k)
3. HDFC Millenia (120k)
4. Amazon Pay (110k)
5. SBI Cashback (101k)
6. Axis Myzone (78k)
7. IDFC Millenia (50k)
8. SC Platinum Rewards (49.5k)

Current salary (~50k)

Can anyone suggest steps to enhance credit limit, considering the current salary which doesn’t makes me eligible for most of the premium cards and hence I want to use card to card basis as method to get premium credit cards.
Click to expand...
Question is very broader in nature but still where there is will there is a way..

Focus on one card at a time. with 50K salary ,Mannual enhancement upto 5 Lac is not possible.

So Start with HDFC millenia,HDFC loves if you spent on shopping sites regularly. Paying on time, Keeping Utilisation ratio below 30,Opting for their Insta jumbo loan,Insta loan even smart EMI triggers auto limit enhancement in HDFC.
 
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enlightedinvestor said:
Hi,

I want to increase credit limit of any of my card to 5,00,000 so that I get eligible for premium cards like Magnus.

Following are the cards with credit limit.

Card:
1. IndusInd Legend (161k)
2. AU Xcite Ace (145k)
3. HDFC Millenia (120k)
4. Amazon Pay (110k)
5. SBI Cashback (101k)
6. Axis Myzone (78k)
7. IDFC Millenia (50k)
8. SC Platinum Rewards (49.5k)

Current salary (~50k)

Can anyone suggest steps to enhance credit limit, considering the current salary which doesn’t makes me eligible for most of the premium cards and hence I want to use card to card basis as method to get premium credit cards.
Click to expand...
Not sure how you acquired all this cards, based on C2C or directly application, because all the cards are below 2L limits.
One tip to increase CL is take the highest card and apply via C2C, this method mostly the new card will have higher limit, from there apply another card with latest high CL.
PS: For magnus, minimum 1 year old card with above 5L is required
 
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RupayMan said:
Not sure how you acquired all this cards, based on C2C or directly application, because all the cards are below 2L limits.
One tip to increase CL is take the highest card and apply via C2C, this method mostly the new card will have higher limit, from there apply another card with latest high CL.
PS: For magnus, minimum 1 year old card with above 5L is required
Click to expand...
For magnus three lac is sufficient on Card to card basis and above this excellent for better credit limit.
 
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I think i got a call from Yes Bank credit card.team -- they offer a "build your own cars" which gives you a limit of 140% of your highest card.
You may try that.

Then once it's statement is generated, apply for an AU bank card - they give limit.based on highest credit limit reported in your cibil

Repeat till 5L.
 
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Can u suggest any cards that I should apply on a card-to-card basis (preferably LTF) to enhance my credit limit.
Also, I am HDFC Preferred customer since last 1 year, I have kept my utilization below 10% all these while but they don't increase my credit limit.
Same is the case with ICICI Card, I haven't got any credit limit enhancement offer till now have been holding card more than a year whenever I try to manually increase credit limit, they reject it.
 
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enlightedinvestor said:
Can u suggest any cards that I should apply on a card-to-card basis (preferably LTF) to enhance my credit limit.
Also, I am HDFC Preferred customer since last 1 year, I have kept my utilization below 10% all these while but they don't increase my credit limit.
Same is the case with ICICI Card, I haven't got any credit limit enhancement offer till now have been holding card more than a year whenever I try to manually increase credit limit, they reject it.
Click to expand...
What you will achieve with the cards having high limits ?

As you have already said your income is 50K per month And already having 8 Cards in you portfolio.Personal suggestion to you "Dont get influenced by card offers . Always take a credit card basis your own need and personal spending pattern, not just because of an offer. Make your own assessment. "
 
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RupayMan said:
One tip to increase CL is take the highest card and apply via C2C, this method mostly the new card will have higher limit, from there apply another card with latest high CL.
Click to expand...
Not guaranteed to work, as per my experience. Axis issued me a card with just 1/6 th the limit of a 6 year old base card! And this to a Burgundy customer with a high credit rating!
 
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Rkr said:
What you will achieve with the cards having high limits ?

As you have already said your income is 50K per month And already having 8 Cards in you portfolio.Personal suggestion to you "Dont get influenced by card offers . Always take a credit card basis your own need and personal spending pattern, not just because of an offer. Make your own assessment. "
Click to expand...
I just want one premium credit card like Axis Magnus in my portfolio; that's the reason I want credit limit enhancement so that I get eligible for those cards. I am fine paying fees for the premium card. That's why all cards except SBI Cashback are LTF for me. I just want to get my hands on a premium card & not just for the sake of offers but to get better lifestyle offers.
 
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I agree with @Rkr
You must consider if Magnus is beneficial to you right now.

Magnus is great with 1L spends. Atleast in a few months of the year.
With a salary of half of that amount, i wonder how would you manage.

Even *when* you'll reach 5L credit limit - Magnus isn't going to be offered LTF. So you're paying the hefty fee of the credit card, which would be >20% of your monthly salary.

Why?
 
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enlightedinvestor said:
I just want one premium credit card like Axis Magnus in my portfolio; that's the reason I want credit limit enhancement so that I get eligible for those cards. I am fine paying fees for the premium card. That's why all cards except SBI Cashback are LTF for me. I just want to get my hands on a premium card & not just for the sake of offers but to get better lifestyle offers.
Click to expand...
What is the fees of Magnus, do you know?
What "lifestyle" benefits is it getting you?
 
Last edited:
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enlightedinvestor said:
Hi,

I want to increase credit limit of any of my card to 5,00,000 so that I get eligible for premium cards like Magnus.

Following are the cards with credit limit.

Card:
1. IndusInd Legend (161k)
2. AU Xcite Ace (145k)
3. HDFC Millenia (120k)
4. Amazon Pay (110k)
5. SBI Cashback (101k)
6. Axis Myzone (78k)
7. IDFC Millenia (50k)
8. SC Platinum Rewards (49.5k)

Current salary (~50k)

Can anyone suggest steps to enhance credit limit, considering the current salary which doesn’t makes me eligible for most of the premium cards and hence I want to use card to card basis as method to get premium credit cards.
Click to expand...
Use that Apay regularly if you can. ICICI does offer good limit enhancements.
 
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