Fastest way to increase credit limit to 5 lac

[enlightedinvestor]

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.

 

[enlightedinvestor]

Use that Apay regularly if you can. ICICI does offer good limit enhancements.

Have been using the same just waiting for the offer. Thanks.

 

[enlightedinvestor]

What is the fees of Magnus, do you know?
What "lifestyle" benefits is it getting you?

I am aware of the fees and have no problem paying for it. Its my personal choice & meets my requirements so I am fine with it

 

[RkrRkr is verified member.]

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.

Ye sab moh maya hai. Focus on earning first and Banks itself come to your door to offer you a credit card...,Sir Please le lijiye bahut achcha card hai..
If still you want to get premium one ...You can continue exploring and hoping one you will get soon..

 

[RkrRkr is verified member.]

What is the fees of Magnus, do you know?
What "lifestyle" benefits is it getting you?

Here is the 1 page benifits of Axis magnus.
Fee is 10000 +GST

 

[saucy]

Ye sab moh maya hai. Focus on earning first and Banks itself come to your door to offer you a credit card...,Sir Please le lijiye bahut achcha card hai..
If still you want to get premium one ...You can continue exploring and hoping one you will get soon..

Leave it bro.
We don't know who owns a gold jewellery shop
Or a govt naukri with side income

 

[RkrRkr is verified member.]

Leave it bro.
We don't know who owns a gold jewellery shop
Or a govt naukri with side income

Yes its possible...
Kuch bhi ho sakta hai

 

[RupayMan]

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!

My tip only works for C2C players like AU, And many other small finance banks. Even with Axis, i got 3L CL for my airtel axis without C2C also. A good credit score without any EMI lag is very much required

 

[Trust Me]

A good credit score without any EMI lag is very much required

As I said, I had a high credit rating. No question of any EMI lag, since I didn't have any outstanding loans at that point, -- only credit cards. My home and car loans were both already paid up more than a decade back, with no EMI lag whatsoever for either. No delayed payments for any of my credit cards, ever.

Mysterious are the ways of the credit card departments of some banks!

 

[RkrRkr is verified member.]

As I said, I had a high credit rating. No question of any EMI lag, since I didn't have any outstanding loans at that point, -- only credit cards. My home and car loans were both already paid up more than a decade back, with no EMI lag whatsoever for either. No delayed payments for any of my credit cards, ever.

Mysterious are the ways of the credit card departments of some banks!

How much is you Annual ITR ?
On which card you are facing the issue?

 

[CARDBITRAGE]

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.

Don't get me wrong, but you can properly extract value from premium cards only if you have somewhat substantial spends. Paying the fees is not a big thing, but holding the card and not optimizing it properly would deem the card useless. If you still want to chase Magnus, your best bet is to pick one card from your portfolio and diligently use it. Once you have a card(with age> 1 year) limit of over 4L, you can easily obtain Magnus on C2C.

 

[Trust Me]

How much is you Annual ITR ?
On which card you are facing the issue?

It was a Select card (I was applying on the basis of my Burgundy relationship). ITR was not an issue, it was far above the Select eligibility requirement. I showed it to them too, but preferred to apply on my 6-year-old HDFC c2c basis.

 

[starstruck]

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.

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.

Get Kotak Cards (preferably LTF). They provide free and paid limit enhancements frequently.

 

[Lobogris]

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.

Could you please explain how HDFC Jumbo loan would trigger auto limit enhancement? How long would it take? Would it be after the loan has been paid off?