How to reduce Credit Card limit permanently

[karuturi24]

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

Exactly where did you find your salary information in CIBIL report?

 

[syamashrujanam]

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

I completely agree about increasing salary figure in CIBIL but reducing it? I really don't understand the need to reduce an inflated salary as that works in your favour with no negative consequence

 

[dopeguy]

I see they aren't reporting the exact limit in cibil most of the banks are reporting like 50 percent less in all my cards I though it might be delayed but not sure is it a good thing ?

 

[arunkd386]

Exactly where did you find your salary information in CIBIL report?

Salary and employment info is mentioned on 1st page itself (at start). It is updated as per last approved credit card or loan.

 

[grg1280]

This is how we do it...

View attachment 55150

So, even if your limit is 7.7L it will report 2.31L to Cibil ??

 

[SSV]

So, even if your limit is 7.7L it will report 2.31L to Cibil ??

There is a mixed report here..
Some people reported it reports 2.31L
And some people said 7.7L
So try and let us know

 

[Fini7777]

There is a mixed report here..
Some people reported it reports 2.31L
And some people said 7.7L
So try and let us know

Usually they report whatever the limit that we set in imobile or netbanking

If we recently modified the limit it may take 30 days to reflect in cibil afaik

 

[arunkd386]

For me, all banks have reported max limit of the cards not the limit modified by me.

 

[SSV]

Usually they report whatever the limit that we set in imobile or netbanking

If we recently modified the limit it may take 30 days to reflect in cibil afaik

Yes . I know it takes time.. but there are mixed reports about limits reported..
I believe the revised limit only will get reported but I haven’t done it personally I can’t say in conformity

 

[SSV]

For me, all banks have reported max limit of the cards not the limit modified by me.

Have you tried ICICI before?

 

[arunkd386]

Have you tried ICICI before?

Yes . .

 

[SSV]

Yes . .

Okay , thanks for sharing the info

 

[EternallyHopeful]

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.

Aapne utne cards close kar diye jitne main shayad next 2-3 years me lene ki soch raha hu.

 

[Astrella]

I tried reducing limit to 2L with imobile last month (all cards), but CIBIL report still shows 3 ICICI accounts with full CL. leading to 3x the actual credit available being reported.