Got an ICICI Emeralde card, limit: 17k. The existing ICICI card Limit: 6.8L. How to LE the Emeralde?

[abhikbose]

I recently got a Paid Emralde (plastic) upgrade in internet banking. Despite the negative reviews, I opted for it as I frequently fly and use the lounge (I will use the spa in future, too). I have a few existing ICICI credit cards. The maximum one is an LTF Saphirro (under alumni offer) with a 6.8 lakh limit. The new Emralde is issued with a limit of 17k only; I am not sure why! Following is my relationship with ICICI.

1. Have a wealth management savings account. [I previously had a Gold privileged account, which they upgraded to wealth management]
2. Total relationship value with ICICI is approximately six lakhs.
3. CIBIL: 792
4. Other ICICI Card limit: Max limit is 6.8 Lakh
5. Previous spending on ICICI cards: 2-5 lakhs in a year for the last 5 years
6. Previously used to get continuous LE after every 6 months from ICICI.
7. Total income from salary: No taxable income

I have tried the following to get the Emralde limit enhanced.

1. Written to wealthmanagement@icicibank.com. They replied that credit card limit enhancement is a sensitive issue that can't be handled over email.
2. Called the customer care, and they said no credit enhancement offer is available
3. Talked with the deputy branch manager of my home branch (Powai, Mumbai). Apparently, she also has no clue.

At present, I can't get HDFC Infinia or anything (considering no taxable income), and I want a card with lots of airport lounge access. So, this is my choice. I often buy international flight tickets using the ICICI Saphirro. This Emralde gives a 1% reward, which is very poor but better than 0.5% of the Saphirro. So, I need a limit enhancement on the Emeralde.

Any help and hacks to get a limit enhancement of the Emralde will be helpful. Also, any idea why they are offering me an upgraded card with a 17k limit when I have an existing card with a 6.8L limit?

 

[Saiv]

Apply for Yes Bank Marquee via shappiro C2C, close unused Icici cards if any like Coral Visa, Platinum Visa & Hpcl(if you still have them) If they reject Limit match with rest of the cards(after closure of unnecessary cards) Ask for nodal officer mail ids escalate to them as a final resort go for rbi ombudsman, that will do. As most suggested first go for Twitter

 

[abhikbose]

Apply for Yes Bank Marquee via shappiro C2C, close unused Icici cards if any like Coral Visa, Platinum Visa & Hpcl(if you still have them) If they reject Limit match with rest of the cards(after closure of unnecessary cards) Ask for nodal officer mail ids escalate to them as a final resort go for rbi ombudsman, that will do. As most suggested first go for Twitter

Many thanks for the reply. I have another option if I really need to do so many things. The option is to close the Emeralde and have peace of mind. Btw, I have a Yes Marquee. Anyway, thanks for the suggestion. Will definitely apply some of them.

 

[abhikbose]

Here are my observations:

1) Because you had never submitted any income doc, there was no recorded income against which they can provide you a decent CL.
2)They gave you LE, basis your spending pattern and timely payment.
3) this process had maxed out the LE iteration because you are over utilising their CCs.
4) you had consumed many times 90% of your given CL at that time ( not 6.8L now) . This shows that you are credit hungry.. even though you are payuing them back..
5) And also you had opened too many CC accounts lately and this may have triggered too many cards even though they share the same CL.. what it acutally means , you are facilitated by ICICI to spend on more occasions or on more spend types..
6) because of all the above factors, their systems sort of downgraded your credit profile and don't want to risk providng more opprtunities for you to spend on more cards...

Remedy:

Long run :
1) Immediately STOP using all ICICI cards.. this shows their systems that , even though you have the ability / facility to spend on your cards, you are not using that opportunity .. means you are not credit hungry , instead it shows that you are well controlled .. in about 6 months time you will start getting LE offers again..
Here you may use my strategy of "Start and Stop" technique.. means, Stop using it for 3 months and start using it for 1 month...

2) Close the cards you don't want to have.. this will help..
( you don't need to do this if you can provide Income doc,
but as you don't have income doc, it is better reduce your ICICI CC portfolio).

Immediate remedy:

1)Call WM support guys and ask them to raise a SR to match your current Sapphiro CL with Emeralde..
Don't ask them if it is possible.. just ask them to raise a SR and tell them that you are fine even if that SR got rejected.. Talk to Credit Caqd team , not SB account team.. Talk with some authority but not showing any glimpses of any attitude...
You need somehow an SR to be raised then it will work.. for this you need some inseder who can help in raising that SR..

All the best...

Many thanks, @SSV, for the detailed analysis. I will follow the steps you suggested. I will immediately stop using all ICICI cards. I thought the exact opposite; I increased the use of their product with the hope that this would help increase the limit. Now I understand that I was wrong. I thought it was all a shared limit. So, It should not be a risk to the bank that I am having more cards. Previously all were LTF, now I applied paid one, I thought that will also have some positive impact.

I agree with your observations. I used to have many pre-approved offers in iMobile, but all of them vanished after I opted to upgrade to Emeralde and applied for the HPCL and MMT. I don't know what triggered it, because there was not much of a gap. Now, I feel that my idea of using ICICI more to get more offers [like Emeralde Private Metal in future somehow didn't work]

I will stop using all ICICI cards for 6 months. I need the HPCL for 5% back on grocery (via Zepto), but I will try to manage some alternatives. I will call WM and ask for an SR after they reply to my last email.

By the way, how do I speak specifically to the CC team? When I call 1800 1080 someone just peak the call, I don't know from which department (CC or SB).

If they downgrade my credit profile, do you think there is any chance to get the Emeralde metal in future?

I will talk with them politely and will approach them via Twitter, too. But I don't want to raise a complaint at the nodal or RBI level. It is their card they have the right to do whatever risk management they want and can provide a limit of their wish.

But as a user, if it is lossful to have such a card after a certain amount of try, we have to let it go and close it.

Again I am grateful to @SSV for all the help. This is what ICICI bank stuffs should offer, which they didn't.

Thanks to all
Abhik

 

[SSV]

By the way, how do I speak specifically to the CC team? When I call 1800 1080 someone just peak the call, I don't know from which department (CC or SB).

Just ask the person on the phone, he/she will tell . Mostly the Frontline guy is from CC team itself.
Call right now and see what happens.
Ne need to wait for any email reply..
All the best..
Talk confidently

 

[abhikbose]

An update regarding the issue. After contacting ICICI customer care over email for the second time, they increased the credit limit of the Emeralde card to 6.8 Lakh. Thanks everyone for all the suggestions.