Kotak Credit card limit Revised (decreased)

[JUsbazZE]

I have received a message that My Kotak Zen card limit is revised to 1.2L from 6L for no reason.
I was expecting an enhancement soon

Cibil over 780
Never a Missed a payment
Upto 15-20% usage every month.
Is there any way to retain my limit??

 

[CMGCMG is verified member.]

Got a Kotak Myntra CC recently, not even a month ago, first Bill not generated yet. The Limit of the CC was 2.25L, now suddenly in the app it shows the limit as 1L, and used about 1.4L, so it shows -40k in overview.

Today I saw the limit was how it was supposed to be and remain balance as 80k+, now it shows -40k, no other transaction is done, no emi, loan, etc

Is this a bug, or Intentional activity from Kotak

Kotak decreased limit for many. Go through the above replies.

 

[Chimera-san]

Kotak decreased limit for many. Go through the above replies.

They did this without any prior notice, I saw my limit being 2.25L like 4 hours ago, now suddenly 1L. Is there anyway to reverse it?

 

[SSV]

s there anyway to reverse it?

i dont think so

 

[Chimera-san]

i dont think so

I also got charged an overlimit fee of 500+gst

 

[SSV]

also got charged an overlimit fee of 500+gst

this one you can ask for it

 

[Chimera-san]

this one you can ask for it

Ok, will do.

 

[realjayt]

I also got charged an overlimit fee of 500+gst

This is seriously messed up!!

 

[realjayt]

This is seriously messed up!!

You literally had the limit then they reduced it and has the sudacity to charge you over limit fee? Can’t this be contested?

 

[Chimera-san]

You literally had the limit then they reduced it and has the sudacity to charge you over limit fee? Can’t this be contested?

I will try to contest the both, this is straight up unethical. I got no notification, no message, email about the sudden limit decrease and they charged overlimit fee of 500+gst.

 

[realjayt]

I will try to contest the both, this is straight up unethical. I got no notification, no message, email about the sudden limit decrease and they charged overlimit fee of 500+gst.

As you should. I’d get it even if the cut the limit to you billed amount or a lil bit higher. But lower? That so unacceptable behaviour!!

 

[Chimera-san]

As you should. I’d get it even if the cut the limit to you billed amount or a lil bit higher. But lower? That so unacceptable behaviour!!

It a new card, the first bill didn't even generate.

 

[realjayt]

It a new card, the first bill didn't even generate.

In that case it shouldn’t even be counted as your spends because you didn’t even the enable over limit facility and the transaction is counted as overlimit. I think you definitely should argue your case and get both decisions reversed

 

[anonymuos]

Also did any of you who got their limit reduced have 2 or 3 Kotak CCs or just 1? People share some info please to figure out if there is any pattern for limit reduction.

 

[Chimera-san]

Also did any of you who got their limit reduced have 2 or 3 Kotak CCs or just 1? People share some info please to figure out if there is any pattern for limit reduction.

I have only 1 Kotak CC

 

[Chimera-san]

In that case it shouldn’t even be counted as your spends because you didn’t even the enable over limit facility and the transaction is counted as overlimit. I think you definitely should argue your case and get both decisions reversed

Now, while trying to modify the CC limit in the app, it shows the minimum amount being 1.16L and max amount 1L.
While editing limit, says the amount should be greater than 1.16L and less 1L, how is that possible.

 

[coolguy1]

Now, while trying to modify the CC limit in the app, it shows the minimum amount being 1.16L and max amount 1L.
While editing limit, says the amount should be greater than 1.16L and less 1L, how is that possible.

This generally happens when you over limit your card, the minimum shows the current outstanding and the maximum shows the total normal limit.
Once paid, this should go back to minimum value to current spend and maximum to the total limit.

The fees charged feels totally unfair, do send a bunch of emails and they should reverse the fee, unsure about the limit change reversal though but you can always try for it.

 

[Chimera-san]

This generally happens when you over limit your card, the minimum shows the current outstanding and the maximum shows the total normal limit.
Once paid, this should go back to minimum value to current spend and maximum to the total limit.

The fees charged feels totally unfair, do send a bunch of emails and they should reverse the fee, unsure about the limit change reversal though but you can always try for it.

Where can I get the customer care email, I can't find it in the kotak website.

 

[Chimera-san]

This generally happens when you over limit your card, the minimum shows the current outstanding and the maximum shows the total normal limit.
Once paid, this should go back to minimum value to current spend and maximum to the total limit.

The fees charged feels totally unfair, do send a bunch of emails and they should reverse the fee, unsure about the limit change reversal though but you can always try for it.

Also, current outstanding is 1.5L and the minimum you mentioned is showing as 1.1L

 

[coolguy1]

Where can I get the customer care email, I can't find it in the kotak website.

You can send a message here: https://www.kotak.com/en/customer-service/grievance-redressal/personal-banking/level-1.html

Also, current outstanding is 1.5L and the minimum you mentioned is showing as 1.1L

Oh, that's messed up then, the numbers don't add up at all.

 

[Chimera-san]

You can send a message here: https://www.kotak.com/en/customer-service/grievance-redressal/personal-banking/level-1.html


Oh, that's messed up then, the numbers don't add up at all.

Exactly what I was thinking, nothing was adding up.