Temporary Limit Enhancement on CC

[Cheritha]

Hi members and gurus,
Is there anyway to increase my limit temporarily (without any charges) just to make a single transaction? If yes, which bank CC provides this opportunity?

For example, I have 1L limit on fk axis card, but I have to spend 2.5L for one transaction - Can I load Credit Card with1.5 lakh so that total limit becomes 2.5Lakh for that transaction? This is for insurance payment rewards -1.5% on fk axis

 

[Srinivas Reddy]

Hi members and gurus,
Is there anyway to increase my limit temporarily (without any charges) just to make a single transaction? If yes, which bank CC provides this opportunity?

For example, I have 1L limit on fk axis card, but I have to spend 2.5L for one transaction - Can I load Credit Card with1.5 lakh so that total limit becomes 2.5Lakh for that transaction? This is for insurance payment rewards -1.5% on fk axis

No. Don't do that, if u pay load extra ur limit will increase but u will be charged for Over Limit Penalty usage i.e. 2.5% which simply doesn't justify the reward what ur earning.

 

[mukundstud]

I tried this with my Paytm First CITI Card. My card only had 25k as approved limit, but I needed to pay electricity bill of 30k to get 3% cashback. So I loaded slightly more than 5k into my card. After that, my card showed my credit limit as more than 30k. I paid my bill and everything worked perfectly fine. I got my cashback and no charge was levied on my card. I did not try this on my Flipkart Axis Bank Credit Card. But I DID notice that my Flipkart card limit was being showed as more than my approved limit when I loaded some extra money into it. I also heard that HDFC credit limit does not increase even if you load extra money into it. Based on all this data, I believe that your trick should work just like my trick worked with CITI credit card. But I am not guaranteeing you about the trick's success. This is my personal opinion. Do it at your own risk.

 

[SubhankarSubhankar is verified member.]

Hi members and gurus,
Is there anyway to increase my limit temporarily (without any charges) just to make a single transaction? If yes, which bank CC provides this opportunity?

For example, I have 1L limit on fk axis card, but I have to spend 2.5L for one transaction - Can I load Credit Card with1.5 lakh so that total limit becomes 2.5Lakh for that transaction? This is for insurance payment rewards -1.5% on fk axis

In SBI cards and ICICI cards except Amazon Pay (not sure if it still does), you can do that by putting more money to it. Or else you need cards like Axis Reserve, HDFC Infinia, IndusInd Indulge, ICICI Emeralde which have something called "revolving credit" where you can ask the cc to increase limit temporarily. You won't be charged over limit fee

 

[Srinivas Reddy]

What's loading money on cards?

He meant paying extra.

 

[Srinivas Reddy]

I meant suppose limit is 75K, can we spend 1 lakh?

(Not by parts, but on a single transaction)

Yes u can do that but u have to keep two things in mind, In ur case, first u have to pay bill 25K extra to ur credit card so that ur limit goes from 75K to 1L and second thing is that u will charged for over limit usage that depends on ur card provider what % he will charge. For eg. Flipkart Axis its 2.5%.

 

[mukundstud]

Yes u can do that but u have to keep two things in mind, In ur case, first u have to pay bill 25K extra to ur credit card so that ur limit goes from 75K to 1L and second thing is that u will charged for over limit usage that depends on ur card provider what % he will charge. For eg. Flipkart Axis its 2.5%.

My CITI credit card did not charge me any over limit fee after I paid extra money into it and spent more than my approved credit limit in a single transaction. In fact, nothing was charged at all from me. And it is logical. After I added extra money into my card, my new credit limit was being shown as greater than my approved credit limit. So if I do a transaction within the increased credit limit, why would I be levied any charge for it? I can confidently say this about CITI credit cards, but not for others Banks' credit cards. But I did notice that Axis Bank cards' limit also temporarily increase on adding extra money into them.

 

[fatehbajwa]

As a connected question....has anyone ever tried asking their bank for a temporary credit limit increase? Say for a month if I'm traveling abroad.
If yes, which bank was it and what was their response?

 

[SubhankarSubhankar is verified member.]

In SBI cards and ICICI cards except Amazon Pay (not sure if it still does), you can do that by putting more money to it. Or else you need cards like Axis Reserve, HDFC Infinia, IndusInd Indulge, ICICI Emeralde which have something called "revolving credit" where you can ask the cc to increase limit temporarily. You won't be charged over limit fee

As a connected question....has anyone ever tried asking their bank for a temporary credit limit increase? Say for a month if I'm traveling abroad.
If yes, which bank was it and what was their response?

As mentioned above, those are the cards you could be looking upto. The feature you're asking it's called revolving credit. I tagged the comment as well

 

[fatehbajwa]

Not really. I'm.not looking for revolving credit. I'm looking for an actual short term increase in my credit limit..maybe based on past history....for maybe a month or so.

 

[SubhankarSubhankar is verified member.]

Not really. I'm.not looking for revolving credit. I'm looking for an actual short term increase in my credit limit..maybe based on past history....for maybe a month or so.

Revolving credit gets applied for a month or so when travelling abroad (confirmed about Axis Reserve, ICICI Emeralde and IndusInd Indulge, need to check about Infinia, but hope it does the same). Or else you can go for Charge cards such as AMEX Plat Charge, cc can increase the spending limit temporarily.

 

[rohansamal]

Revolving credit gets applied for a month or so when travelling abroad (confirmed about Axis Reserve, ICICI Emeralde and IndusInd Indulge, need to check about Infinia, but hope it does the same). Or else you can go for Charge cards such as AMEX Plat Charge, cc can increase the spending limit temporarily.

Is revolving CC something that is limited to these few cards only?