Got low limit on Amazon Pay ICICI Credit with 1 lakh/pm salary

[sidddork]

I started working in January and had applied for Amazon Pay ICICI credit card in February. My CIBIL score was 757(had education loan) but even after telling salary, they gave me 40,000 limit whereas I got Flipkart Axis credit card yesterday LTF with 2.5 lakh credit limit, they didn't even ask for salary slip. How can I increase my credit limit on ICICI card(utilisation is 5-10% only) ?
I have HDFC MoneyBack+ credit card as well which was pre approved. I want to shift to Millennia or Regalia now. How to upgrade it?
Thanks in advance

 

[sidddork]

I use about 80% of my limit but before the billing date, I pay part of my bill and bring the billed amount to about 5-10%
Thanks for the information regarding HDFC card, maybe I'll try and talk to them if they can consider salary slips and process an upgrade.

 

[sidddork]

okay thanks

 

[souvikdey2002]

I use about 80% of my limit but before the billing date, I pay part of my bill and bring the billed amount to about 5-10%
Thanks for the information regarding HDFC card, maybe I'll try and talk to them if they can consider salary slips and process an upgrade.

Hi,

I have a Credit History for last 12 years although I have started taking interest for Cards just now so I made some mistakes what I don't you to do.

1. Never apply for a Credit Card manually(unless it is a LTF), I mean to say is it's better to open a bank account with the concerned bank & wait for their offer to come rather than apply for a card & get it manually by giving the joining charges.. If you transact well, it will come for sure.

2. Most of the cases if you are getting a card under Pre-approved offer then the subsequent upgrades will also likely to be free but not always.

3. Sometimes things are not going to happen overnight, you have to give time for the Credit Score to build up so that it is visible to everybody. So never ever take consequent loans, very low limit credit cards one after another, thinking that the next will have a bigger limit. but it will not happen, instead it will bring down your credit score so badly that you even can't imagine.

4. If you take only one card & use it at the fullest for a longer period, your credit history is going to Pump up & after a certain period of time all the banks are going to offer you their Top of the line credit card without having any investments or even knowing how much did you earn.

5. I never believed in 30% utilization criteria. I had only one card for last 10 years from Citi Bank where sometimes I had used 300% of the Credit Limits assigned but my Score didn't fall ever. Now against that I got 5 other Super Premium Cards as LTF with a Credit Line as high as 9,28,000 where those banks didn't even know how much salary I draw per month.

Therefore, according to me the key Point is "Timely Repayment", "Timely Repayment" & "Timely Repayment" & not being a defaulter for a single time. At some point of time, banks will run after you to offer you their Highest Cards free of cost.

Don't take this as an advice, just a suggestion.

 

[akshayhs]

Hi,

I have a Credit History for last 12 years although I have started taking interest for Cards just now so I made some mistakes what I don't you to do.

1. Never apply for a Credit Card manually(unless it is a LTF), I mean to say is it's better to open a bank account with the concerned bank & wait for their offer to come rather than apply for a card & get it manually by giving the joining charges.. If you transact well, it will come for sure.

2. Most of the cases if you are getting a card under Pre-approved offer then the subsequent upgrades will also likely to be free but not always.

3. Sometimes things are not going to happen overnight, you have to give time for the Credit Score to build up so that it is visible to everybody. So never ever take consequent loans, very low limit credit cards one after another, thinking that the next will have a bigger limit. but it will not happen, instead it will bring down your credit score so badly that you even can't imagine.

4. If you take only one card & use it at the fullest for a longer period, your credit history is going to Pump up & after a certain period of time all the banks are going to offer you their Top of the line credit card without having any investments or even knowing how much did you earn.

5. I never believed in 30% utilization criteria. I had only one card for last 10 years from Citi Bank where sometimes I had used 300% of the Credit Limits assigned but my Score didn't fall ever. Now against that I got 5 other Super Premium Cards as LTF with a Credit Line as high as 9,28,000 where those banks didn't even know how much salary I draw per month.

Therefore, according to me the key Point is "Timely Repayment", "Timely Repayment" & "Timely Repayment" & not being a defaulter for a single time. At some point of time, banks will run after you to offer you their Highest Cards free of cost.

Don't take this as an advice, just a suggestion.

Well written! 👍

 

[ZappyRed]

Hi,

I have a Credit History for last 12 years although I have started taking interest for Cards just now so I made some mistakes what I don't you to do.

1. Never apply for a Credit Card manually(unless it is a LTF), I mean to say is it's better to open a bank account with the concerned bank & wait for their offer to come rather than apply for a card & get it manually by giving the joining charges.. If you transact well, it will come for sure.

2. Most of the cases if you are getting a card under Pre-approved offer then the subsequent upgrades will also likely to be free but not always.

3. Sometimes things are not going to happen overnight, you have to give time for the Credit Score to build up so that it is visible to everybody. So never ever take consequent loans, very low limit credit cards one after another, thinking that the next will have a bigger limit. but it will not happen, instead it will bring down your credit score so badly that you even can't imagine.

4. If you take only one card & use it at the fullest for a longer period, your credit history is going to Pump up & after a certain period of time all the banks are going to offer you their Top of the line credit card without having any investments or even knowing how much did you earn.

5. I never believed in 30% utilization criteria. I had only one card for last 10 years from Citi Bank where sometimes I had used 300% of the Credit Limits assigned but my Score didn't fall ever. Now against that I got 5 other Super Premium Cards as LTF with a Credit Line as high as 9,28,000 where those banks didn't even know how much salary I draw per month.

Therefore, according to me the key Point is "Timely Repayment", "Timely Repayment" & "Timely Repayment" & not being a defaulter for a single time. At some point of time, banks will run after you to offer you their Highest Cards free of cost.

Don't take this as an advice, just a suggestion.

Didn't they charge you OVER-THE-LIMIT charges?
Is this 300% like this: Where in you over-load your card and use it?
Which cards you have and their limits?
Which bank ran after you with their premium credit card, can you explain more on this?

 

[akshayhs]

I use about 80% of my limit but before the billing date, I pay part of my bill and bring the billed amount to about 5-10%
Thanks for the information regarding HDFC card, maybe I'll try and talk to them if they can consider salary slips and process an upgrade.

How long have you had your account with HDFC for? Mine completes a year this may and I am already getting a lot of calls from the bank to take their credit cards, other loan products etc.


I would surely try to upgrade the card against your salary slip to prove your case.

 

[souvikdey2002]

Didn't they charge you OVER-THE-LIMIT charges?
Is this 300% like this: Where in you over-load your card and use it?
Which cards you have and their limits?
Which bank ran after you with their premium credit card, can you explain more on this?

It's not like that.
Citi Bank is one of the prestigious bank in India, I'm sad to see there withdrawal.
Coming back to the topic, if you want to utilize their Credit Card over the limit then you can't just do it.
You have to inform them in advance also let them know the actual purpose of doing it, like medical or any emergency, along with the approximate amount.
Then they will prepare your card for the particular transaction in a way so that you can swipe only once for the amount you mentioned.

And off course this you can't just do immediately after getting your card, you need to build the trust with them over the time.

 

[souvikdey2002]

How long have you had your account with HDFC for? Mine completes a year this may and I am already getting a lot of calls from the bank to take their credit cards, other loan products etc.


I would surely try to upgrade the card against your salary slip to prove your case.

Guys 3 factors for this Pre-Approved offers:-

1. How much balance do you maintain, how much transaction do you do & what is the variant of account.
2. From which PIN Code you belong to
3. How is your past lending History with how many cards, loans.

 

[souvikdey2002]

Could you elaborate a bit more about using a CC over it's limit?

What else you want me to elaborate??
Specify please.

 

[souvikdey2002]

Which banks are good with this, which bank did you request this for?
As in, does one request (assuming Cibil is perfect, history with the bank CC is perfect too) and it gets accepted without much hassle?
I am talking about the over limit usage.
Also, were you charged a fee for this?

Specifically most of the foreign banks should be ok with this kind of request.
Like HSBC, Standard Chartered should be ok with this kind of request provided you have a good relationships with them.
I requested to Citi Bank they approved & it went through without any hassle, that's the reason I sad to see them go.

 

[souvikdey2002]

Even I wanted to get Citi CCs eventually 😀

Apply now, there's a high possibility that you will get it since now they don't have anything to loose.

 

[Manu624]

I started working in January and had applied for Amazon Pay ICICI credit card in February. My CIBIL score was 757(had education loan) but even after telling salary, they gave me 40,000 limit whereas I got Flipkart Axis credit card yesterday LTF with 2.5 lakh credit limit, they didn't even ask for salary slip. How can I increase my credit limit on ICICI card(utilisation is 5-10% only) ?
I have HDFC MoneyBack+ credit card as well which was pre approved. I want to shift to Millennia or Regalia now. How to upgrade it?
Thanks in advance

Im student when I applied and got 1.3lqkh limit....,I also spent lot on Amazon and paid back on time