Will be get Limit Increase on future in case if we do Limit Decrease

[Sai Ganesh]

Hi Friends,

I applied for HSBC 2nd credit card , after giving the docs , he is saying i already have the eligible limit in my existing card which is of 4L.

So HSBC wont be able to issue another card and have put my application in hold , he asked me to call HSBC customer care and reduce the limit by 1L , i said ok to him.

I called HSBC customer care for this , they are saying ok sir we will reduce the limit but keep in mind , we will never be able to increase the limit in future in case customer has reduced the limit even once.

Can someone please confirm on this one ? Banks will never be able to increase the limit in future in case customer has reduced the limit even once ?

Is this any RBI guidelines ?

 

[jk51]

Hi Friends,

I applied for HSBC 2nd credit card , after giving the docs , he is saying i already have the eligible limit in my existing card which is of 4L.

So HSBC wont be able to issue another card and have put my application in hold , he asked me to call HSBC customer care and reduce the limit by 1L , i said ok to him.

I called HSBC customer care for this , they are saying ok sir we will reduce the limit but keep in mind , we will never be able to increase the limit in future in case customer has reduced the limit even once.

Can someone please confirm on this one ? Banks will never be able to increase the limit in future in case customer has reduced the limit even once ?

Is this any RBI guidelines ?

Asking for limit decrease might not be a good idea as it states you are less credit worthy (that too is conveyed by you). If you initiate this request then bank might consider this as a red flag and hence might be less willing to increase your limit in future (as your request shall be on record with them). Not sure there are RBI guidelines in this regard but this is more akin to if you have lent someone unsecured loan and when that person comes to you saying you should have lent me less doesn’t instill confidence later on.

Better to negotiate for issuing second card on split limit basis through approvals or opt for a card under family members name if possible.

 

[Sai Ganesh]

Ok bro thanks , I was also thinking for the same.