How to reduce Credit Card limit permanently

[MS R]

Hi bro well first you need to identify which accounts to clean up in CIBIL and then call/email the banks and keep following up with them until the cards are closed and/or removed from CIBIL. It is a pain and you need a lot of patience... Especially when it comes to removing the accounts from CIBIL.

For me Citi was the easiest to deal with and BoB was the most difficult. IndusInd took around two weeks to close the card and around a month to remove it from CIBIL. BoB also took more than a week to close the cards but it took close to two months and endless follow ups to remove the cards from CIBIL. I had to escalate it until PNO to get the cards removed. HDFC is another story, the cards were closed immediately and removed from CIBIL but another card that I closed long ago was still stuck there like a ghost. I had to do multiple follow ups to get that one removed. And then the cards were still showing up in netbanking and had to raise yet another request to get those removed. Reducing CL was easy though they all tried a lot to talk me out of it.

PNB Platinim closed in cibil but balance due 4,407 - (upgraded to pnb select new account in cibil)
HDFC Regalia rupay not closed - balance 3,45,701 (changed to mastercard network - new account in cibil)
IDFC classic - balance 0 (account not closed yet in CIBIL) - (reapplied wealth cc new account in cibil)
HSBC platunim - not closed in cibil balance 21,817 - (upgraded to HSBC Cashback - new account in cibil)

will have to follow up with bank.. thanks

 

[rogerthat]

PNB Platinim closed in cibil but balance due 4,407 - (upgraded to pnb select new account in cibil)
HDFC Regalia rupay not closed - balance 3,45,701 (changed to mastercard network - new account in cibil)
IDFC classic - balance 0 (account not closed yet in CIBIL) - (reapplied wealth cc new account in cibil)
HSBC platunim - not closed in cibil balance 21,817 - (upgraded to HSBC Cashback - new account in cibil)

will have to follow up with bank.. thanks

Yea bro all these accounts should be closed in CIBIL. Banks usually open new accounts while upgrading/migrating. I had the exact same problem with HDFC (Premier upgraded to Regalia Gold) and as soon as I asked them to close it they did. All the best!

 

[MS R]

Yea bro all these accounts should be closed in CIBIL. Banks usually open new accounts while upgrading/migrating. I had the exact same problem with HDFC (Premier upgraded to Regalia Gold) and as soon as I asked them to close it they did. All the best!

I called cust care and also emailed them my concern to update my accounts for above banks. Let's see how many days they will take to resolve and update the information in CIBIL.
Thanks again, bro.

 

[MS R]

As far as I know, SBI, SCB and RBL seemingly look at leverage, but SBI takes it way too seriously.

Yeah I have done exactly that. I've closed some and got credit limits reduced for others and cleaned my CIBIL too.

• Closed IndusInd Legend with 5L CL
• Closed HDFC Regalia Gold and Tata Neu Infinity 3L each
• Closed Axis Magnus 6.6L
• Closed BOB Eazy 1.5L
• Reduced Axis Atlas and Axis IOCL from 6.6L each to 6L each (individual CL reduction is not possible)
• Reduced ICICI Amazon Pay from 6.6L to 3.25L
• Reduced Citi PremierMiles from 4.8L to 2.05L
• Reduced SCB from 3.66L to 2L.
• Left IDFC Select (1.82L), SBI IRCTC (1L), AMEX MRCC (2.08L) and BoB Premier (1.5L) as it is.

Also cleaned up my CIBIL by getting four cards removed which were showing active despite being closed long ago.

• ICICI Coral with 2.5L (and 575 credit balance)
• HDFC Privilege Diners with 3L
• BoB Eterna with 1.5L
• SCB some account without a CL

On the way my CIBIL score improved from 747 to 764. I had some expenses last month so utilisation is now at 18%. I've paid off all those bills so it should come down to single digits next month. Planning to apply for Octane and a bunch of other cards after that.

Oh and also, my employment details in CIBIL are all wrong. The company name is my old company and monthly income is only a quarter of my actual income thanks to one SBI branch aunty. I think this was a reason why I was being rejected for everything.

Next, I will follow up by reducing credit limits and closing a few accounts in the process.

 

[rogerthat]

I called cust care and also emailed them my concern to update my accounts for above banks. Let's see how many days they will take to resolve and update the information in CIBIL.
Thanks again, bro.

No problem bro. Keep us updated on what happens

 

[MS R]

No problem bro. Keep us updated on what happens

how to dowload CIBIL report??? and share CIBIL report as PDF under 3MB to IDFC bank?

also I have CIBIL subscription.. but when i view report / print report - saving as PDF file .. the report is 103 pages / size is 22 MB. Even upon shrinking at max size comes to 10 MB

plz help

 

[rogerthat]

how to dowload CIBIL report??? and share CIBIL report as PDF under 3MB to IDFC bank?

also I have CIBIL subscription.. but when i view report / print report - saving as PDF file .. the report is 103 pages / size is 22 MB. Even upon shrinking at max size comes to 10 MB

plz help

I always communicated via email rather than phone mainly because there will always be a paper trail... For IDFC you can try banker@idfcfirstbank.com. Or they also have a Whatsapp banking.

 

[MS R]

I always communicated via email rather than phone mainly because there will always be a paper trail... For IDFC you can try banker@idfcfirstbank.com. Or they also have a Whatsapp banking.

I did via email as well.. bank wanted a pdf report under 3MB

 

[rogerthat]

I did via email as well.. bank wanted a pdf report under 3MB

They very well know that is not possible... They why do they still ask? Probably if you used an online PDF editor and removed some pages it could be done?

 

[epeter07]

This is how we do it...

View attachment 55150

Unfortunately this is not working. The reduced limit selected here is being reported as the "Cash limit" and the credit limit reported to cibil is still the full credit limit

 

[SSV]

Unfortunately this is not working. The reduced limit selected here is being reported as the "Cash limit" and the credit limit reported to cibil is still the full credit limit

Write to cc

 

[SuperKnight]

I did via email as well.. bank wanted a pdf report under 3MB

DMed you the way to reduce your file. Hope it helps

 

[MS R]

PNB Platinim closed in cibil but balance due 4,407 - (upgraded to pnb select new account in cibil)
HDFC Regalia rupay not closed - balance 3,45,701 (changed to mastercard network - new account in cibil)
IDFC classic - balance 0 (account not closed yet in CIBIL) - (reapplied wealth cc new account in cibil)
HSBC platunim - not closed in cibil balance 21,817 - (upgraded to HSBC Cashback - new account in cibil)

will have to follow up with bank.. thanks

HDFC duplicate account closed and balance is 0 from 3,45,701
PNB - updated balance 0 to closed account in CIBIL
idfc / hsbc - waiting for update

cc @rogerthat

 

[rogerthat]

HDFC duplicate account closed and balance is 0 from 3,45,701
PNB - updated balance 0 to closed account in CIBIL
idfc / hsbc - waiting for update

cc @rogerthat

Nice. That HDFC closure itself would've improved your standing by quite a bit.

 

[MS R]

Nice. That HDFC closure itself would've improved your standing by quite a bit.

Yeah . .

 

[MS R]

PNB Platinim closed in cibil but balance due 4,407 - (upgraded to pnb select new account in cibil)
HDFC Regalia rupay not closed - balance 3,45,701 (changed to mastercard network - new account in cibil)
IDFC classic - balance 0 (account not closed yet in CIBIL) - (reapplied wealth cc new account in cibil)
HSBC platunim - not closed in cibil balance 21,817 - (upgraded to HSBC Cashback - new account in cibil)

will have to follow up with bank.. thanks

HDFC duplicate account closed and balance is 0
PNB - updated balance 0 to closed account
idfc - duplicate accout closed and balance is 0
hsbc - duplicate account closed and balance is 0

was able to close above closed / duplicate accounts in CIBIL from respective banks thank again @rogerthat ...

 

[MS R]

My name consists of four words, e.g., Sunil Two Three Four. However, in my CIBIL report, it appears as Sunil Two Three Four Three Four (the last two words, "Three Four," are repeated). How can I find out which bank reported my name this way and correct it to my original name?

Additionally, my salary mentioned in CIBIL is 40 CR . How to correct it?

cc @rogerthat @SSV

 

[rogerthat]

My name consists of four words, e.g., Sunil Two Three Four. However, in my CIBIL report, it appears as Sunil Two Three Four Three Four (the last two words, "Three Four," are repeated). How can I find out which bank reported my name this way and correct it to my original name?

Additionally, my salary mentioned in CIBIL is 40 CR . How to correct it?

cc @rogerthat @SSV

Well I don't think the name matters at all, that issue is very common. As is the income mentioned. There are plenty of people here with salaries of 20, 40, 60 Crore and more! I think I am the only one with income being shown much lesser than my actual 🙂

I don't think the either one matters. However you could try getting your KYC updated with the bank handling your salary account and instruct them to report the same to CIBIL as well.

 

[syamashrujanam]

Yeah . .

Why do you want to reduce your salary shown? You get no benefit but only loss by doing so. 40 crore salary will get you any credit card, loan application and high CIBIL scores which will make your life easy. It is not any crime from your side as you did nothing wrong but the bank input the figures wrongly. Just enjoy and take benefit of the situation

 

[rogerthat]

Why do you want to reduce your salary shown? You get no benefit but only loss by doing so. 40 crore salary will get you any credit card, loan application and high CIBIL scores which will make your life easy. It is not any crime from your side as you did nothing wrong but the bank input the figures wrongly. Just enjoy and take benefit of the situation

My income shown in CIBIL is 50k and I am unable to get cards or loans or credit limit increase because of that.