Help needed. Axis reduced credit limit without any intimation

[LordPSN]

Hi
My brother has Axis card since 2013.
He got a sms today as follows
"Due to low usage on your Axis Bank Credit Card XX, we will be revising the credit limit on your card to INR 50000 for security reasons. For any queries, call us on 18001035577."

His old credit limit was about 10 lacs. He also has other cards from HDFC, ICICI with limits 8lacs approx.

So what to do now?



Update- Just came to know that he has successfully completed his KYC for Airtel Axis about 3 days ago and today he got the CL reduced message

Update 2- He got 10 lac CL in his new Airtel Axis card. No idea whats going on with Axis to be honest!

 

[D₹V]

What's this so much fuss about card limits? Is having high limits doing any good? At the end, offers are same whether it is 1lac limit or 10lac limit.
The only benefit i see from cc limit is to lower utilisation ratio for improving cibil, but that is better off by acquiring more n more credit cards hence increasing benefits

True.... People just need a reason to cry.

 

[DaDarkkNight]

True.... People just need a reason to cry.

And you need some reason to portray yourself as "Sher"

 

[D₹V]

And you need some reason to portray yourself as "Sher"

I'm already sher by not crying for LEs 🤣🤭

 

[DaDarkkNight]

I'm already sher by not crying for LEs 🤣🤭

Ok, when you look yourself into the mirror, do u spot a cat or tiger?

 

[drsel]

Ok, when you look yourself into the mirror, do u spot a cat or tiger?

He spots a legend, a Technofino legend!

 

[Sahilhenzy]

Thats works when u have multiple card from one bank and you use 1 . Dormat others

Ooh. That's the reason freaking I am not getting any LE. Thanks buddy. I am will be applying for new card in axis. As I hold only Ace card with them.

 

[Vasuki]

Ooh. That's the reason freaking I am not getting any LE. Thanks buddy. I am will be applying for new card in axis. As I hold only Ace card with them.

If u have income limit increase is very ezy via Kia bot in axis net banking.
My friend too got limit like that in ace
Even his father got same when he got Flipkart as first card
& My cousin too

 

[Vasuki]

What's this so much fuss about card limits? Is having high limits doing any good? At the end, offers are same whether it is 1lac limit or 10lac limit.
The only benefit i see from cc limit is to lower utilisation ratio for improving cibil, but that is better off by acquiring more n more credit cards hence increasing benefits

There is . Cc 99% used for pennies. 0.1% when u need large amount u can use that tension free .. its one of weapon which stops u from being mentally unstable in financial crunch or say emergency like accident or big unannounced other things

 

[DaDarkkNight]

There is . Cc 99% used for pennies. 0.1% when u need large amount u can use that tension free .. its one of weapon which stops u from being mentally unstable in financial crunch or say emergency like accident or big unannounced other things

For accident health related emergency, credit card limit is not the solution , health insurance and life insurance is the thing to chase for.
For financial emergency, credit cards will only help you as an immediate lender for one month buffer at max, cc wont solve the financial crisis for you if its really a concerning one.
But watching your speech for not to panic will help a lot in all situations.

 

[Jhon Anand]

If u have income limit increase is very ezy via Kia bot in axis net banking.
My friend too got limit like that in ace
Even his father got same when he got Flipkart as first card
& My cousin too

Requested LE on basis of income via mail, got it increased to 2.5L from 32k in 5 days from sending the mail. Card age is almost a month.

 

[Vasuki]

Requested LE on basis of income via mail, got it increased to 2.5L from 32k in 5 days from sending the mail. Card age is almost a month.

✅ Great .
What did u send ! Doc ?

 

[redcarpet]

What's this so much fuss about card limits? Is having high limits doing any good? At the end, offers are same whether it is 1lac limit or 10lac limit.
The only benefit i see from cc limit is to lower utilisation ratio for improving cibil, but that is better off by acquiring more n more credit cards hence increasing benefits

It will be helpful for C2C, you get other bank possibly premium cards ltf if limits are high.

Known cards: Hdfc Millenia/Regalia gold, AU Zenith, Idfc wealth etc
Earlier Yes bank premium cards were also given ltf based on c2c.

Some people even used for car purchases which would be not possible using lower limits

 

[DaDarkkNight]

It will be helpful for C2C, you get other bank possibly premium cards ltf if limits are high.

Known cards: Hdfc Millenia/Regalia gold, AU Zenith, Idfc wealth etc
Earlier Yes bank premium cards were also given ltf based on c2c.

Some people even used for car purchases which would be not possible using lower limits

Totally agreed.
I am not saying not to go for higher limits. If you are just having 1-3 cards, definitely try to increase limit.
But for people having like 5-10 cards or more, going for higher limits is no sense.
Basically, just try accumulating the highest limit in just 1-2 cards in your collection, for the point you mentioned to acquire other premium cc.
If you chase high limits in all the cards, it will be difficult later to acquire new cards because total credit limit is also a thing that matters, and if it jumps unnecessarily compared to salary/income, then it's a red flag to banks.

 

[Jhon Anand]

✅ Great .
What did u send ! Doc ?

3 months salary slips and 3 months salary account statement

 

[LordPSN]

Update 2- He got 10 lac CL in his new Airtel Axis card. No idea whats going on with Axis to be honest!

 

[hema220]

No hospital is cashless even you have health insurance. All hospitals wants advance payment at least 40% to 50% of estimated cost (experienced several times personally) and they will refund later once insurance is approved.
High limit credit card are savior for emergency situations. Once, I paid 4 lakhes for one of my relative treatment.
Note: we never get 100% of our bill from health insurance company.

For accident health related emergency, credit card limit is not the solution , health insurance and life insurance is the thing to chase for.
For financial emergency, credit cards will only help you as an immediate lender for one month buffer at max, cc wont solve the financial crisis for you if its really a concerning one.
But watching your speech for not to panic will help a lot in all situations.

 

[DaDarkkNight]

No hospital is cashless even you have health insurance. All hospitals wants advance payment at least 40% to 50% of estimated cost (experienced several times personal) and they will refund later once insurance is approved.
High limit credit card are savior for emergency situations. Once, I paid 4 lakhes for one of my relative treatment.
Note: we never get 100% our bill from health insurance company.

True to some extent. I only faced 10% advance payments scenarios till now, should be negotiable I guess.

That is why choosing the right health insurance with maximum coverage and few exclusions is the key here. The best insurance provides cashless facilities in maximum hospitals, with almost 100% coverage nowadays.

Having credit cards is good ofc but chasing higher limits on every cc (for those hving more arnd 10) might backfire as homeloan and other form of credit lines can get impacted.

For emergency purposes, it will also help if we register all our cc in tap to pay nfc enabled apps, because we won't be carrying our whole cc collection everytime and everywhere.

And overdraft facility and advance salary from employer (for those salaried) are another options

 

[hema220]

True to some extent. I only faced 10% advance payments scenarios till now, should be negotiable I guess.

That is why choosing the right health insurance with maximum coverage and few exclusions is the key here. The best insurance provides cashless facilities in maximum hospitals, with almost 100% coverage nowadays.

Having credit cards is good ofc but chasing higher limits on every cc (for those hving more arnd 10) might backfire as homeloan and other form of credit lines can get impacted.

For emergency purposes, it will also help if we register all our cc in tap to pay nfc enabled apps, because we won't be carrying our whole cc collection everytime and everywhere.

And overdraft facility and advance salary from employer (for those salaried) are another options

disagrees with negotiations with hospital, many people doesn't have that strong will power to do the same.
Completely agrees with regarding running behind credit limits. I personally thinks having cumulatively 20 lakhs credit limit in all cards is sufficient for personal use at any case (no comments on business purpose).

 

[DaDarkkNight]

disagrees with negotiations with hospital, many people doesn't have that strong will power to do the same.
Completely agrees with regarding running behind credit limits. I personally thinks having cumulatively 20 lakhs credit limit in all cards is sufficient for personal use at any case (no comments on business purpose).

Yes 20lakh overall is sufficient enough, and having the highest limit on just 1-2 cards around 10L will do the trick.
Again this is for average earning individuals like me not for HNI, definitely there are exceptions anywhere for people earning upto crore can definitely chase higher limits without having flagged as credit hungry by banks

 

[vfsdgs985]

Hi
My brother has Axis card since 2013.
He got a sms today as follows
"Due to low usage on your Axis Bank Credit Card XX, we will be revising the credit limit on your card to INR 50000 for security reasons. For any queries, call us on 18001035577."

His old credit limit was about 10 lacs. He also has other cards from HDFC, ICICI with limits 8lacs approx.

So what to do now?



Update- Just came to know that he has successfully completed his KYC for Airtel Axis about 3 days ago and today he got the CL reduced message

Update 2- He got 10 lac CL in his new Airtel Axis card. No idea whats going on with Axis to be honest!

You are not alone, I too had the same thing happened to me.

I have an Axis credit card for many years with a credit limit of 4.35 lakh. A few days ago I received the same SMS you mentioned however in my case the limit was revised to 10,000. I called on the number mentioned in the SMS and talked to a customer service executive. He told me the limit was being revised because there were no transactions on my card in last several months. I told him I have 3 cards and hence some cards go unused for some time. He told me if I do a transaction on Axis card, the limit will not be reduced. I made a couple transactions amounting to ~6000 and the limit was still reduced to 10,000 a few days later.

A note for people commenting why you should have a higher limit if you're only making small purchases.
Well, we "usually" make small purchases because that's what our day-to-day spendings are. And when you have multiple cards, your spendings are further divided among them. But once-in-a-while you make a trip to Goa and you want to book flights and hotels, that's when the 10,000 limit is as useless as a toilet paper.