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.

 

[Avangerritesh]

When did you receive it. Have you mail them for limit increase? I have mailed them several times but no proper reply from them

 

[Wealth is my birth right!]

​

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.

Merged limit is worst when u have plans to spend on both cards in same month

 

[tushu5121]

Merged limit is worst when u have plans to spend on both cards in same month

Yes..
Merged limit is chutiya thing done by banks

 

[Sri.yadav]

When did you receive it. Have you mail them for limit increase? I have mailed them several times but no proper reply from them

Today Morning I got this mail . I did not ask . This is not limit increase . Now they have removed individual limit on my cards . I have myzone credit card with 210000 limit . Now I have only one shared limit for all my cards .

 

[Sri.yadav]

Yes..
Merged limit is chutiya thing done by banks

Yes . Now axis bank has started this .

 

[Venky]

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.

 

[R!ppEr]

same with me! got the mail out of the blue today!

 

[V G]

I did not receive any email but my limit also got increased for individual cards. Aggregate limit is same. I think it is happening with everyone.

 

[kpravinramesh]

I didn't receive any such mail and neither my per card limit is removed .

 

[Copycat]

I haven't received it either, but it would be good for me. My Magnus limit is lower than my MyZone limit 🙁

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.

How do shared limits work from the viewpoint of a CC issuer reporting to a CC bureau? If x is the shared limit then wouldn't Axis report the overall limit as nx where n is the number of cards that you have? This scenario would be even better for you

 

[Deathsnatcher]

if each bank goes for shared limit then our credit utilization will be increased too much
which will be bad for cibil i think so

 

[Shrinit Padwal]

I haven't received it either, but it would be good for me. My Magnus limit is lower than my MyZone limit 🙁



How do shared limits work from the viewpoint of a CC issuer reporting to a CC bureau ? If x is the shared limit then wouldn't Axis report the overall limit as nx where n is the number of cards that you have? This scenario would be even better for you

It's always x and not nx.
For me, I always had shared limit across my Myzone, Flipkart and Ace.

Currently I have 2.5L limit, so when I spend 20k on Ace, other cards I can only spend 2.3L.

In cibil, it's reported different - but in app shows the same shared limit

 

[Shrinit Padwal]

Best ways to tackle - keep increasing limits - either Manual or auto to reduce CUR

 

[vaibhav111vaibhav111 is verified member.]

Why is this considered a bad thing? Let's say you have two Axis cards with different limits. You can only spend up to the maximum limit on your higher card, for example, ₹2.25 lakh on one card and ₹1.8 lakh on the other. Regardless, you can't exceed ₹2.25 lakh in a single month before clearing the dues. So, what am I missing here? It's actually a good thing that I have seen MyZone with a higher limit than the Select card because it was issued earlier or vice versa. In any case, the limit is always shared between all Axis cards. HDFC follows this approach, while ICICI seems to have variations in this policy for certain cards.

​

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]

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.

Not sure if it will happen on premium cards - but happens on my Ace and Flipkart - getting clarification from cc would be one way to one - or in a month you will know anyway

 

[Shrinit Padwal]

Why is this considered a bad thing? Let's say you have two Axis cards with different limits. You can only spend up to the maximum limit on your higher card, for example, ₹2.25 lakh on one card and ₹1.8 lakh on the other. Regardless, you can't exceed ₹2.25 lakh in a single month before clearing the dues. So, what am I missing here? It's actually a good thing that I have seen MyZone with a higher limit than the Select card because it was issued earlier or vice versa. In any case, the limit is always shared between all Axis cards. HDFC follows this approach, while ICICI seems to have variations in this policy for certain cards.

Maybe people thought limits are different so we can spend total limits

Like say
Magnus is 3L limit
Reserve is 5L limit

So after spending 1L on Magnus, one would spend next 1 lac on Reserve. Total spend - 2L out of 10 lac - Expected cur - 30% for Magnus and 20% for reserve,
Actual cur - 40% as 2L/5L is done on all axis cards

So, what am I missing here? -
Maybe the above.

If it was different limit on HNI cards and only now they are getting merged, then it's bad.
It was same aggregate limit for me on my cards

 

[NikunjP]

Why is this considered a bad thing? Let's say you have two Axis cards with different limits. You can only spend up to the maximum limit on your higher card, for example, ₹2.25 lakh on one card and ₹1.8 lakh on the other. Regardless, you can't exceed ₹2.25 lakh in a single month before clearing the dues. So, what am I missing here? It's actually a good thing that I have seen MyZone with a higher limit than the Select card because it was issued earlier or vice versa. In any case, the limit is always shared between all Axis cards. HDFC follows this approach, while ICICI seems to have variations in this policy for certain cards.

I also prefer shared highest limit among all cards of same bank for following reasons:

1. Currently I have Magnus with 5 Lakh limit. Manual limit enhancement is not that great in axis. But if I apply Axis Vustara infinite I will definitely get limit approx. 8-10 Lakh. So my other card will also get benefited from it.

2. Limit won't be hurdle in achieving milestones.

3. Reliving pain of remembering different card limits.

 

[NikunjP]

Maybe people thought limits are different so we can spend total limits

Like say
Magnus is 3L limit
Reserve is 5L limit

So after spending 1L on Magnus, one would spend next 1 lac on Reserve. Total spend - 2L out of 10 lac - Expected cur - 30% for Magnus and 20% for reserve,
Actual cur - 40% as 2L/5L is done on all axis cards

So, what am I missing here? -
Maybe the above.

If it was different limit on HNI cards and only now they are getting merged, then it's bad.
It was same aggregate limit for me on my cards

In my cibil report both(Magnus & vistara signature) limits are shown seperate. Also cibil calculate total spends (all credit card spend) & total limit (sum of all card limits). So no worries.

 

[D7162]

Axis has shared limit

Received mail that lower limit card will match higher limit so I guess now no need to send mail to md desk for limit sharing