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Standard Chartered reduced my credit limit from 3.75L to 10k

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lpshreyas

TF Select
I am still finding it hard to wrap my head around this. I received an email and SMS a few mins ago about the credit limit of my 9 month old SC Smart card being reduced from 3.75L to a paltry INR 10,000!

I have noticed some banks doing this for people with low usage and for long-term + low usage card holders, but that is not the case with me. My current cycle spends are over 9k, and the last cycle's bill was over 12k. And overall, I have spent over 80k. So, I don't understand this reduction one bit. This stupid bank doesn't respond to emails (I have multiple open tickets with them which have been escalated to RBI. Still waiting on a resolution), and their phone lines always have a 30 min+ wait time.

What should I do?
 
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Same for me. Just less than a year old card. Used at most 80K. Credit limit decreased to 10K today. Helpline numbers are always busy and the operator don't even know the basic details.
 
lpshreyas said:
I am still finding it hard to wrap my head around this. I received an email and SMS a few mins ago about the credit limit of my 9 month old SC Smart card being reduced from 3.75L to a paltry INR 10,000!

I have noticed some banks doing this for people with low usage and for long-term + low usage card holders, but that is not the case with me. My current cycle spends are over 9k, and the last cycle's bill was over 12k. And overall, I have spent over 80k. So, I don't understand this reduction one bit. This stupid bank doesn't respond to emails (I have multiple open tickets with them which have been escalated to RBI. Still waiting on a resolution), and their phone lines always have a 30 min+ wait time.

What should I do?
Click to expand...
Send an closure request email.
 
fradela said:
Send an closure request email.
Click to expand...

Is there a specific email address that is actually monitored by them?

One of my open tickets is actually for closure of the card. I had raised it about 3 months into getting the card and they didn't acknowledge or respond to it. I had to then call, wait for 45 mins in the queue, and eventually talk to their team to put the request through. Their retention team called and made me keep the card for a few more months. I guess the time has come to get rid of this card, and more so the bank.
 
Same happened with me today. Just that my limit got reduced to 16k instead of 10k (I believe that is because I currently have around 15k outstanding on my card which prevented them from reducing my limit to 10k).

I use this card quite regularly and was going to request CLI but instead they've reduced my limit. Lol!
 
lpshreyas said:
I am still finding it hard to wrap my head around this. I received an email and SMS a few mins ago about the credit limit of my 9 month old SC Smart card being reduced from 3.75L to a paltry INR 10,000!

I have noticed some banks doing this for people with low usage and for long-term + low usage card holders, but that is not the case with me. My current cycle spends are over 9k, and the last cycle's bill was over 12k. And overall, I have spent over 80k. So, I don't understand this reduction one bit. This stupid bank doesn't respond to emails (I have multiple open tickets with them which have been escalated to RBI. Still waiting on a resolution), and their phone lines always have a 30 min+ wait time.

What should I do?
Click to expand...
Same to mine and instantly I generated a closure request 🤣
 
lpshreyas said:
Is there a specific email address that is actually monitored by them?

One of my open tickets is actually for closure of the card. I had raised it about 3 months into getting the card and they didn't acknowledge or respond to it. I had to then call, wait for 45 mins in the queue, and eventually talk to their team to put the request through. Their retention team called and made me keep the card for a few more months. I guess the time has come to get rid of this card, and more so the bank.
Click to expand...
Foreign banks are always worst. SC and HSBC.

Go near branch and fill the closure form.
 
lpshreyas said:
I am still finding it hard to wrap my head around this. I received an email and SMS a few mins ago about the credit limit of my 9 month old SC Smart card being reduced from 3.75L to a paltry INR 10,000!

I have noticed some banks doing this for people with low usage and for long-term + low usage card holders, but that is not the case with me. My current cycle spends are over 9k, and the last cycle's bill was over 12k. And overall, I have spent over 80k. So, I don't understand this reduction one bit. This stupid bank doesn't respond to emails (I have multiple open tickets with them which have been escalated to RBI. Still waiting on a resolution), and their phone lines always have a 30 min+ wait time.

What should I do?
Click to expand...
Same with me limit decrease from Rs 215800 to Rs 10000 . What to do next ??
 
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