Scapia drastically reducing credit limit.

[abhi-t]

Scapia card is reducing limit. Mine got reduced from from 10L to 1.4L. Others also reported the same.

 

[karabiram]

Mine also reduced from 4.1L to 1L today. What they are up to?

 

[SplendorSuperman]

What’s cool down period to apply for core Federal CC after closing one (in this case Scapia )?

 

[connection01]

Decreased from 5L to 1L
Too low for a ForEx card.

 

[sahildca]

apply karte time existing card se match karke +5% extra limit karke sabko khush kar dia aur abhi sabhi ka 70-90% limit minus kar dia.

SCAPIA : The card that takes you places
uske baad aap jaano

suddenly limit hi gaayab.
atlest 1 week pahle inform karna chahiye.

 

[hedgehog2122]

Mine also reduced from 9.60 Lakhs to 1.40 Lakhs.

 

[Shin-Chan]

Finally Bomb Dropped !!


was offered 10L initially then revised to 20L



But this morning, checked around 7 am 93% reduction, 20L to 1.4 L a reduction of 97%


Now Srapia Scrapia will be a baggage I have to carry forever reminding me this reduction and can't cancel else Federal Bank will block me forever 🙁

 

[shashankrt]

Finally Bomb Dropped !!


was offered 10L initially then revised to 20L



But this morning, checked around 7 am 93% reduction, 20L to 1.4 L a reduction of 97%


Now Srapia Scrapia will be a baggage I have to carry forever reminding me this reduction and can't cancel else Federal Bank will block me forever 🙁

This bank seems to be nuts anyways. Who revises CL from 10L to 20L in one go? Even infinia rarely gives limit above 15L

 

[anotheruser]

Finally Bomb Dropped !!


was offered 10L initially then revised to 20L



But this morning, checked around 7 am 93% reduction, 20L to 1.4 L a reduction of 97%


Now Srapia Scrapia will be a baggage I have to carry forever reminding me this reduction and can't cancel else Federal Bank will block me forever 🙁

Sorry. Kal maine kuch jyada hi jaldi boldiya
Baat toh yeh hai ki kyuki inhone isko loan report kara hai CRIF me, toh next month kya loan amount kam karege?

Aur, Bhai niraash na ho, jab Shubhankar ji ki limit 8L se 20K kardi toh apan toh kya hi hai
😀

 

[telescope]

Is it true that Federal Bank blocks us from getting cc in future if we cancel existing cc?

 

[Walter White]

Finally Bomb Dropped !!


was offered 10L initially then revised to 20L



But this morning, checked around 7 am 93% reduction, 20L to 1.4 L a reduction of 97%


Now Srapia Scrapia will be a baggage I have to carry forever reminding me this reduction and can't cancel else Federal Bank will block me forever 🙁

Scapia Credit Limit to customers 😛

 

[VicksJ]

Today got the message that my limit is reduced to 20k as I am not using the card, what are they expecting? use ihis card as a daily driver 😳 .

I am not sure what was the earlier limit but it was in some lakhs for sure. not able to login to scapia app as it is throwing error. I think time to close this and get a proper federal card as it is useless.

 

[AnkitJoshi]

Koi aur forex card hai kya acha.. Mjh international trip pr jana.. Isne toh limit km kr k aukaat dikha di

 

[Walter White]

@ashwink @vaibhav111 merge kar do

 

[palen]

2.5L to 60k 😢

 

[VicksJ]

@ashwink @vaibhav111 merge kar do

bhai you were super quick, within seconds you wrote. 😉 Also if scapia is listed under fintech, then why scapia posts are there in federal bank section, I searched federal bank section and didnt find anything related to reduction

 

[Sudip]

I think this shall be the reason:

RBI have increase risk weightage which basically means CC now have to put more money in their contingency funds for each CC. New and issued both. So with fixed investments they are reducing limits in order to on board more customers and also keep the contingency funds also probably same.

 

[dolphinmark]

I got the card in Nov and due to a trip in Dec used over 50% of total limit.
They haven't reduced the limit yet
Hopefully based on spend they will leave the limit as it is.

 

[cardy]

Yea scapia to gya

 

[cardy]

Yea scapia to gya

Got me to 40k from 1.6L

 

[chnleo]

Mine from 10L to 1.4L. i thought it was some error in their sms. Also I am not able to log into the account. I am sure federal bank will be facing mass card cancellations. I will be cancelling mine soon. Everyone let's teach them a lesson by cancelling their cards.