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??

 

[Tejo]

It seems the following is at works in this Kotak case..

Kotak moment (a.ka. Kodak moment )... Kaching!!! 😉

RBI tightens norms for consumer loans amid rise in unsecured lending

The Reserve Bank of India has increased risk weights for consumer credit exposure in commercial banks, including personal loans, by 25 percentage points to 125%. This comes after warning about the risks of surging personal loans. Unsecured loans have been an outlier at 23%, compared to an...

economictimes.indiatimes.com

One more reason is ......

Extensively increasing credit card consumers on their portfolio

 

[Tejo]

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.

The set limit will be reported in cibil too.

 

[Chimera-san]

The set limit will be reported in cibil too.

It was reported as 2.25L in my credit report.

 

[Tejo]

It was reported as 2.25L in my credit report.

I mean 4 decreased limit/limit management* ....... Now* what you will set in app .... will be updated in cibil.

If you still face issue b/w 1l and 1.6l, mail to credit card team.

 

[RajMahadik]

ABHI JISKI REDUCED NAHI HUI USKI BADHEGI 🤣🤣🤣

 

[s1t2y3a3m6]

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

They have no email IDs. You can contact at contact us section on website

 

[Superxan]

Actaully to be honest , in majority of the cases, we don't need huge CL's on all of our cards.. only handful of us need in excess of 2 to 3 L...
Its only useful in case of emrgencies.. other than that 90% of us are happy with 2 to 3L CL.. in my view ..

100% true statement, I don't get the craze why a lot of them here want to keep pushing for LE when their utilization is very low. Unless you are planning to genuinely utilize large limits, if not regularly or for emergency (which is rare), it makes no sense to keep requesting for LE. More so when you have multiple cards with decent limits.

 

[D₹V]

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

That's how it works

 

[realjayt]

That's how it works

But then they charge overlimit fee, that is tough!

 

[D₹V]

ABHI JISKI REDUCED NAHI HUI USKI BADHEGI 🤣🤣🤣

Muh ki baat chheen li 🤭🤣.

Ab mera LE upcoming hai 😂

 

[D₹V]

But then they charge overlimit fee, that is tough!

It's the system that worked & activated fee.

When you request bank, they'll easily reverse the fee.

As a bank POV: bank doesn't have any method to not levy fees while decreasing limit.

 

[realjayt]

Muh ki baat chheen li 🤭🤣.

Ab mera LE upcoming hai 😂

Kotak is playing stock market with it's customers. Isme Tera ghata Mera tu sabkuch aata 🤣

 

[realjayt]

It's the system that worked & activated fee.

When you request bank, they'll easily reverse the fee.

As a bank POV: bank doesn't have any method to not levy fees while decreasing limit.

Makes sense. Hope the guy gets someof his limit back though along with the over limit fee.

 

[D₹V]

Makes sense. Hope the guy gets someof his limit back though along with the over limit fee.

Limit won't be backed atleast for now

 

[Huzaif]

I got the zen card a week ago with 5L now it is 1L , doesn't make any sense . May be they could have revised for those people who hold the card for the past 3 or 6 months minimum. 7 days old card and they have decreased the limit ,very disappointed 😞☹️

 

[rushin]

Just a question out of curiosity, did they reduce the limit for anyone who was given paid LE (IIRC 99+tax)? 🤔

 

[tempmirzaa]

Just received the Kotak Myntra card two days ago. However, upon attempting to activate the card, I received a morning message stating that my limit has been revised from 7 lakhs to 1 lakh

 

[Deleted member 21942]

Just received the Kotak Myntra card two days ago. However, upon attempting to activate the card, I received a morning message stating that my limit has been revised from 7 lakhs to 1 lakh

Bahut Ghatak limit decrease ki hai Kotak ne

 

[JUsbazZE]

Just a question out of curiosity, did they reduce the limit for anyone who was given paid LE (IIRC 99+tax)? 🤔

For one enhancement from 2.5L to 3.6L I was charged the fee but for next enhancement to 6L no fee was charged.

 

[Odugu Narasimha Rao]

I have Kotak Zen card limit is revised to 1.3L from 2.6L for no reason.
I was expecting an enhancement soon

Cibil over 789
Never Missed a payment
17 month's old card
Is there any way to retain my limit??