Good News or Bad ? Now No Individual Limit . Shared limit for all Axis Bank Cards.

[Sri.yadav]

Dear Customer, Thank you for banking with us. Now worry less and spend more on the card of your choice! Avail the benefit of sharing the highest credit limit across all your Axis Bank Credit Cards at no extra cost and no additional documentation. We have observed 2 Axis Bank Credit Cards under your name. The below cards have a lower limit than your aggregate limit: ​ XXXXXXXXXXXXXXX8 with limit of Rs.164000.00​ ​ XXXXXXXXXXXXXXX1 with limit of Rs.164000.00​ Credit limit across all your Axis Bank Credit Cards is shared. Irrespective of different credit limits individually on your Axis Bank Credit Card, the combined usage will be restricted to the shared limit.​ In lieu of the same, we are revising the individual limits across each of your cards to the aggregate limit available at an overall level. Your aggregate limit across all your cards is Rs. 210000.00 and you can share this limit across all your individual cards.​ This is the highest limit offered to you and is not a limit increment. You can now use all your cards as per your requirement, within the same limit. In situations where the outstanding exceeds the assigned credit limit, standard over limit charges will be applicable.​ Credit limits at an individual card level or shared limit at the customer level are decided at the sole discretion of the Bank basis extant internal guidelines. Axis Bank reserves the right to update the customer's demographic and personal details as per the latest application for his/her existing card(s) if any.​ Note: If you have any Fixed Deposit (FD) backed credit card or corporate credit card, it will be excluded from this activity and will continue with the limit as is. In the consideration of credit cards displayed above, bank’s internal guidelines have been applied.​ For any further queries, contact : *1860 419 5555 / *1860 500 5555 / 1800 103 5577​ Always open to help you.

Regards, Axis Bank Ltd.

 

[Shrinit Padwal]

Another thread already -> https://www.technofino.in/community...t-shared-limit-for-all-axis-bank-cards.12622/

 

[VGisHere]

Still waiting for the same!

Meanwhile, did u previously made any attempt for limit merger?

 

[D7162]

Another thread already -> https://www.technofino.in/community...t-shared-limit-for-all-axis-bank-cards.12622/

Sorry.. didn't knew. Mods Can delete

 

[D7162]

One drawback - if i apply for another card on C2C basis, we may not get higher limit now. Its likely that we get same limit in new card

 

[CC-Muncher]

What will happen if i close my one card? Will the limit decrease to half?

 

[Shrinit Padwal]

What will happen if i close my one card? Will the limit decrease to half?

No decrease in limit

 

[CMGCMG is verified member.]

I’ll be pissed if they share my VI and Magnus limit. Once I complete the 1 lakh spend on the Magnus, I shift to VI. The utilisation will go up significantly, unnecessarily.

Are you able to fully utilize each limit separately?
Your aggregate limit is the highest limit on your card, and you cannot exceed it anyway.
In Cibil, it is separate.

 

[shivek]

Axis has been doing this for a very long time (Around 1.5Years for me)
But shared limit should not be a concern unless limit is very less or you have got only these two cards (resulting in higher credit utilization)
If someone is into minting cashback or reward points then they must be having the fund available to pay for it and in rare circumstances if you feel that your limit is getting exhausted just pay the amount which you intend to pay post bill generation.

 

[Venky]

Are you able to fully utilize each limit separately?
Your aggregate limit is the highest limit on your card, and you cannot exceed it anyway.
In Cibil, it is separate.

I have not used that much amount in recent months but a few months ago I had used used more than what it shows in my aggregate limit separately on both cards. Not sure about now. Will call the customer care tomorrow and reconfirm.

 

[CardTox]

I didn't get any of such mail so far, and still my Airtel cc has 86k while Magnus has 5l limit!!!

 

[VGisHere]

I didn't get any of such mail so far, and still my Airtel cc has 86k while Magnus has 5l limit!!!

That’sa huge difference!
In my case, it’s 3L/3.3L/3.4L!

 

[VGisHere]

A curious question,

Lets say One has a card which is more than 6 months old and eligible for LE!
And one gets new card, with increased limit!

Considering Axis does a limit merge!
Can one still apply for LE on older card and ultimately see increased limit on newer card as well?

 

[Shrinit Padwal]

A curious question,

Lets say One has a card which is more than 6 months old and eligible for LE!
And one gets new card, with increased limit!

Considering Axis does a limit merge!
Can one still apply for LE on older card and ultimately see increased limit on newer card as well?

Scenario 1 :
You have Myzone with 1L limit
After year you get LE offer for 2L
You apply for Magnus - get 5L limit
Here your aggregate limit is 5L if limit merge happens

Scenario 2:
You have Myzone with 3L limit
Now you get Magnus with 4L limit
Later you get LE offer on Myzone for 6L.
Then limit merge happens - this way your aggregate limit is 6L now.

Scenario 1 happens for most of us.
Scenario 2 plays out for very few of the customers - applying LE on older card and seeing new increased limit on new card as well

 

[iNokia]

Yes..
Merged limit is chutiya thing done by banks

Twitter PE trend Karo and hope govt jaise backtrack karle axis Bank.

 

[VGisHere]

Twitter PE trend Karo and hope govt jaise backtrack karle axis Bank.

I don’t get What am I missing here?
previously too, there was individual card limit and an aggregate limit!

now, they have simply removed individual card limit, rest of things are same as previous!

 

[D7162]

I don’t get What am I missing here?
previously too, there was individual card limit and an aggregate limit!

now, they have simply removed individual card limit, rest of things are same as previous!

+1

Anyways it was aggregate limit and i have seen people sending mails to md desk to remove individual limit

Individual capping with aggregate sharing was useless anyhow. I had LIC CARD (closed recently) having 50000 limit and aggregate of 3 lakh, they gave limit enhancement from 50 to 100 but aggregate remained same so it was useless. Now atleast we can expect overall LE

 

[Shrinit Padwal]

I don’t get What am I missing here?

The fact that an individual had separate individual limit on cards, individual didn't know there was a total aggregate limit for all cards

previously too, there was individual card limit and an aggregate limit!

now, they have simply removed individual card limit, rest of things are same as previous!

One bad thing maybe - Reduces CUR if your limit is low and don't have other bank cc

 

[VGisHere]

not sure, but I doubt that case!
I believe all things are going to remain the same as previously!
it would be same reporting and same things as before, only difference, individual limits removed!

which I believe is a good move and bank must be appreciated for same and not criticised

but if I’m on other side of the line of thought, please correct me!

 

[Indian]

I think this change for citi cards as we can't expect any limit increase in citi cards migration with axis and once they merged with our existing axis card portfolio the matched citi card with existing cards

Example : we have 3 axis cards with merged limit of 5 lakhs and citi card with 1 lakh Credit limit ,

Scenario 1 : They will added citi card as 4th card and limit is same 5 lakhs , silently denied the citi limit

Scenario 2 : They will added citi card as 4th card and increase the limit 6 lakhs of all cards

Scenario 3 : They will create one account number in cibil and report all cards in one credit account in cibil instead of 4 individual accounts ( icici already reporting like this for gemstone cards)

lets wait and see

 

[krishc]

I think this change for citi cards as we can't expect any limit increase in citi cards migration with axis and once they merged with our existing axis card portfolio the matched citi card with existing cards

Example : we have 3 axis cards with merged limit of 5 lakhs and citi card with 1 lakh Credit limit ,

Scenario 1 : They will added citi card as 4th card and limit is same 5 lakhs , silently denied the citi limit

Scenario 2 : They will added citi card as 4th card and increase the limit 6 lakhs of all cards

Scenario 3 : They will create one account number in cibil and report all cards in one credit account in cibil instead of 4 individual accounts ( icici already reporting like this for gemstone cards)

lets wait and see

in addition to Citi cards, how do they deal with Kiwi cards will be another thing to keep an eye on wrt this shared limit concept