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Something is off with ICICI, and its credit limit estimates?

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1RC

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I am opening this up for discussion, given super premium/premium cards are expected to have certain level of credit limit.

Back in July 2023 I received ICICI Amazon Pay Card (based on fellow forum member's recommendation) with a limit of INR 11L.

This week (October 2, 2023) I applied for ICICI cards online for ICICI specific discounts (which APAY card is ineligible for). On the online application I was offered LTF Sapphiro. There were multiple cards offered on LTF basis. I also saw Emeralde cards but I don't understand if ICICI cards are worth any benefits at this point looking at their competitors.

October 4th I could see the Sapphiro card on mobile app with limit of INR 25.90L.
October 6th, I received the LTF Sapphiro card.


TL'DR;
ICICI APAY card (July 2023) = INR 11L
ICICI Sapphiro LTF (October 4, 2023) = INR 25.9L
This delta between two cards makes no sense. Please note that I have cards from other banks too.


I recently read an article about the rising credit card debt in India. Looking at this limit offer, I certain this trend is true!

Please let me know if you too have received credit card limit that is beyond reasonable for salaried folks.
 
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1RC said:
I am opening this up for discussion, given super premium/premium cards are expected to have certain level of credit limit.

Back in July 2023 I received ICICI Amazon Pay Card (based on fellow forum member's recommendation) with a limit of INR 11L.

This week (October 2, 2023) I applied for ICICI cards online for ICICI specific discounts (which APAY card is ineligible for). On the online application I was offered LTF Sapphiro. There were multiple cards offered on LTF basis. I also saw Emeralde cards but I don't understand if ICICI cards are worth any benefits at this point looking at their competitors.

October 4th I could see the Sapphiro card on mobile app with limit of INR 25.90L.
October 6th, I received the LTF Sapphiro card.


TL'DR;
ICICI APAY card (July 2023) = INR 11L
ICICI Sapphiro LTF (October 4, 2023) = INR 25.9L
This delta between two cards makes no sense. Please note that I have cards from other banks too.


I recently read an article about the rising credit card debt in India. Looking at this limit offer, I certain this trend is true!

Please let me know if you too have received credit card limit that is beyond reasonable for salaried folks.
Click to expand...
Icici is famous for giving insane limit to individuals....
 
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Rkr said:
Icici is famous for giving insane limit to individuals....
Click to expand...
But this practice is just bad for individuals who are not good with managing expenses. I know a few people who are terrible with managing thier bills and expenses.

I even heard that ICICI never closes your card if you "upgrade" your existing credit card to a new one, whereas other banks actually close your current card and migrate you to a new one. No wonder, ICICI sells hard to apply for a new product even in their customer care calls.

I am wondering how exposed ICICI is on the credit card debts. Will checkout their annual report this afternoon.
 
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Rkr said:
Haha,
Yes,ICICI is very generous in issuing unexpected limit increases even if you are not using the Card..
Click to expand...
In my dad's case, it's otherwise. He has a salary-kind of zero balance ICICI savings account for the past 14 years, which is now even part of their Privilege programme. (But salary never got credited in it though.)

He got a pre-approved LTF Coral Visa credit card offer with ₹1L limit last year. He used it to pay around ₹1-2L premiums within 3 months of getting the card. They increased the limit by just ₹30,000 after 3 months of getting the card.

Now, for the past one year, the limit is still ₹1,30,000 even though he has done decent number of transactions (But not more than ₹3,000 every month), and he has got no limit enhancement offer yet.
 
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Catman said:
In my dad's case, it's otherwise. He has a salary-kind of zero balance ICICI savings account for the past 14 years, which is now even part of their Privilege programme. (But salary never got credited in it though.)

He got a pre-approved LTF Coral Visa credit card offer with ₹1L limit last year. He used it to pay around ₹1-2L premiums within 3 months of getting the card. They increased the limit by just ₹30,000 after 3 months of getting the card.

Now, for the past one year, the limit is still ₹1,30,000 even though he has done decent number of transactions (But not more than ₹3,000 every month), and he has got no limit enhancement offer yet.
Click to expand...
If your father have other card in their inventory then Suggesting shift the spends on other card and dont use this card for 6 to 8 month....Surely you will get the auto LE on this card..
 
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Rkr said:
If your father have other card in their inventory then Suggesting shift the spends on other card and dont use this card for 6 to 8 month....Sure you will get the auto LE on this card..
Click to expand...
Oh, I was under the impression that they offer limit enhancement to only those who use the card very often close to their credit limit.

But, from what ICICI customer care has told me last year is, if I don't use this card consecutively for 3 months, they close the cards. Is this true?
 
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Catman said:
In my dad's case, it's otherwise. He has a salary-kind of zero balance ICICI savings account for the past 14 years, which is now even part of their Privilege programme. (But salary never got credited in it though.)

He got a pre-approved LTF Coral Visa credit card offer with ₹1L limit last year. He used it to pay around ₹1-2L premiums within 3 months of getting the card. They increased the limit by just ₹30,000 after 3 months of getting the card.

Now, for the past one year, the limit is still ₹1,30,000 even though he has done decent number of transactions (But not more than ₹3,000 every month), and he has got no limit enhancement offer yet.
Click to expand...
is privilege programme from icici is of any use? just curious about its benefits
 
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Catman said:
Oh, I was under the impression that they offer limit enhancement to only those who use the card very often close to their credit limit.

But, from what ICICI customer care has told me last year is, if I don't use this card consecutively for 3 months, they close the cards. Is this true?
Click to expand...
Not like that...
But suggesting must atleast use credit cards for once in a card anniversary year...
 
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AlgoTrader said:
is privilege programme from icici is of any use? just curious about its benefits
Click to expand...
Nah, no use.

My dad has two ICICI saving accounts with two different CIFs. The new account, which was opened in 2021, was part of privilege banking from Day 1, but yet he was charged for registering autopay/NACH for one policy they opened the same day, and the debit card issuance and annual charges.

So, Privilege banking in ICICI has no special benefit, except:
1. IMPS is free for Privelge banking users.
2. No SMS charges.
3. But you have to borne debit card annual and issuance charges (if any).
4. Have to maintain monthly average balance as per the account variant.
5. You would get a useless RM who would mostly ask you to contact the Assistant Branch Manager for any concern.

My dad got his newer account closed right after one year. Because his older account never got charged for debit card annual charges and is a truly zero-balance account with even no SMS charges. Also, his old account was also converted to Privilege banking after few months after the new account was created even though they both were linked to different CIFs and had different netbanking user IDs.
 
Last edited:
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Catman said:
Nah, no use.

My dad has two ICICI saving accounts with two different CIFs. The new account, which was opened in 2021, was part of privilege banking from Day 1, but yet he was charged for registering autopay/NACH for one policy they opened the same day, and the debit card issuance and annual charges.

So, Privilege banking in ICICI has no special benefit, except:
1. IMPS is free for Privelge banking users.
2. No SMS charges.
3. But you have to borne debit card annual and issuance charges (if any).
4. Have to maintain monthly average balance as per the account variant.
5. You would get a useless RM who would mostly ask you to contact the Assistant Branch Manager for any concern.

My dad got his newer account closed right after one year. Because his older account never got charged for debit card annual charges and is a truly zero-balance account with even no SMS charges. Also, his old account was also converted to Privelge banking after few months after the new account was created even though they both were linked to different CIFs and had different netbanking user IDs.
Click to expand...
thanks for detailed response
 
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Rkr said:
Haha,
Yes,ICICI is very generous in issuing unexpected limit increases even if you are not using the Card..
Click to expand...
Thats actually the thing. the max transaction ever done on my APAY card was ~INR 5k any month. That too to pay off internet bill or something similar. Thats all!
 
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Catman said:
How much limit enhancement were you offered? After how many months of spends?
Click to expand...
You might want to re-read my post. I am very new to ICICI cards. I have no banking relationship with ICICI. Just APAY and now Sapphiro LTF.

That said, I do hold some good credit limit cards with other premier banks.
 
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