High credit limit on existing card can lead to lower credit limit on newly applied card ??

[anirban.choudhuryanirban.choudhury is verified member.]

there’s a recent YouTube video , where the guy was saying that if we have very high credit limit in an existing card , that is actually bad while applying a new card with a new bank as bank will see that existing credit exposure is too high and it will take that as a risk and allocate a lower limit on the applied card ??

Is this true ????

 

[Pravnz]

Don't think so...
Last month applied for IDFC wealth CC via C2C using ICICI CC. Got ~1.5L more that the ICICI CC

 

[gurubhai]

Don't think so...
Last month applied for IDFC wealth CC via C2C using ICICI CC. Got ~1.5L more that the ICICI CC

Can you please share how much minimum limit needed for IDFC wealth? and other criteria for that card.
Also did you apply via bank or online?

Is this true ????

Multiple youtubers now sharing this info. Might be true. But I still have doubt who measures my total credit worthiness.

 

[R!ppEr]

Can you please share how much minimum limit needed for IDFC wealth? and other criteria for that card.
Also did you apply via bank or online?

Multiple youtubers now sharing this info. Might be true. But I still have doubt who measures my total credit worthiness.

4lac limit needed for wealth C2C i believe

 

[Dr. Drake]

4lac limit needed for wealth C2C i believe

do they accept Icici apay card? it's my mothers 1month old card reflected in cibil. Other cards have around 1.8-2.8L limit

 

[R!ppEr]

do they accept Icici apay card? it's my mothers 1month old card reflected in cibil. Other cards have around 1.8-2.8L limit

i tried earlier with apay but always showed select to me! had to use magnus for wealth

 

[EINSTEIN]

i tried earlier with apay but always showed select to me! had to use magnus for wealth

How old was your Magnus when you applied?

 

[R!ppEr]

How old was your Magnus when you applied?

month and half

 

[Dr. Drake]

i tried earlier with apay but always showed select to me! had to use magnus for wealth

did they show online limit too? no existing relationship with idfc?

 

[R!ppEr]

did they show online limit too? no existing relationship with idfc?

yep they did, it was less than magnus, and nope no relation with idfc before this

 

[gurubhai]

yep they did, it was less than magnus, and nope no relation with idfc before this

So while applying online, you had option to add your existing card details? right?
3-4 months back when I applied, an internal error came and then it showed me Millenia with 64K limit. Never had option to put my existing card details or salary info.
So now I am planning to apply again.
But I have DCB with 5L but someone mentioned it is not considered with IDFC.

 

[R!ppEr]

So while applying online, you had option to add your existing card details? right?
3-4 months back when I applied, an internal error came and then it showed me Millenia with 64K limit. Never had option to put my existing card details or salary info.
So now I am planning to apply again.
But I have DCB with 5L but someone mentioned it is not considered with IDFC.

i dont have any hdfc cards so cannot comment on that, but DCB not being there is weird

 

[Pravnz]

Can you please share how much minimum limit needed for IDFC wealth? and other criteria for that card.
Also did you apply via bank or online?

Multiple youtubers now sharing this info. Might be true. But I still have doubt who measures my total credit worthiness.

I applied online, don't have any prior relationship with IDFC
I believe multiple factors involved here, min. limit needed is just one of the criteria. I have posts where people with ~8L current limit and good Cibil were offered "Select" card rather than "Wealth" CC. I believe apart from your current CL and Cibil score your current Organization also plays a vital role, though they don't have any official companies list publicly available like AU bank