Hello I am using 12 Creditcards right now and 3 cards with shared limits the total limit on cibil report is Rs.3100000/- including shared limits here actually I have a doubt I am salaried with 80k but my aggregate limit on cards in cibil report is Rs.3100000/- I am not getting limit increase offers from banks.
May be reason is 80k salary with total limits is Rs.3100000/- hope is the the reason for not getting credit limit increase offers?
following is not 100% sure, but my thoughts:
limit enhancements provided by banks solely based on their algo. If they think you need more limit, or active usage, or constant spends, or on-time payments etc. considered and provide the limit. Note: Here, I do not think CIBIL play a role, because even though they had our PAN, I do not think they have right to check the credit score whenever they want. It will only when we request manual LE, that time may be they analyse and provide based on algo again.
But, CIBIL limit may play an important role, when you apply fresh card or unsecured loan. There, some cards might reject you based on risk analysis or required loan amount might reduce based on risk analysis. Ofcourse, pre-approved offers are different but depends on how we proceed, negotiate these things might come.
I didn't get LE offers from Citi, YES for more than 4+ years but got some of the other cards. One thing I noticed (which you can find different answers when you search on this forum), whenever I actively use the card I'll get LE otherwise no. ICICI took 3 years for me (yes, same ICICI, some people getting even 6 months once, which never happened with any bank in my list).
I hope you're not required any limit on your cards, but if you do - you can always try for manual request or active usage request but I do not think CIBIL has anything to do with it, unless its manual LE - you'll get CIBIL enquiry in that case which I never did so not sure how much role it plays in that case.
