Your credit card limit is the maximum amount of credit that your credit card issuer has extended to you. This is determined by a number of things such as your income, relationship with the card issuer, credit score, etc.
ICICI Bank is one of India’s leading credit card issuers, offering a range of credit cards for diverse needs. If you have an ICICI credit card or are looking to get one, then it’s imperative that you understand your credit limit. Keep reading to know more about credit limits of ICICI credit cards.
There are a few different types of credit limits offered by ICICI Bank, here are some of them:
The total credit limit on your ICICI Bank credit card is the maximum amount that you can borrow against. You can check your total credit limit on the dashboard of your ICICI credit card net banking account or through the mobile app.
The available credit limit refers to the remaining balance left on your card after spending till date. If you have cleared all your past outstanding bills in full, your available credit limit will be equal to your total credit limit. However, if you have unbilled spends or have not yet paid the last ICICI credit card statement, your available credit limit will be lower than your total credit limit. The available credit limit increases as you make payments for your purchases.
When you check the ICICI Bank credit card limit, you will notice that there is a part of the total limit that can be withdrawn as cash. This is the total amount of cash you can withdraw from the card through an ATM in case of an emergency. The ICICI credit card cash limit usually makes up for about 20%-40% of the total credit limit depending on your card type and profile.
In addition to these limits, you can also set your own ICICI credit card limit (per day/daily limit) via the app or net banking account. This would put a cap on the amount of money that you can borrow from the card on a particular day. In certain cases, if you need more than the sanctioned ICICI Bank credit card limit, you can easily go for a limit increase on your ICICI credit card.
The credit card limit of an ICICI Bank card is decided when you apply for a credit card. The bank considers your income level, credit history, and your current debt when setting the ICICI Bank CC limit.
Depending on the needs of its customers, ICICI Bank offers different cards. For example, the credit limit of a basic card may be lower as compared to the credit limit of a premium credit card.
You can choose a credit card limit that suits your requirements the best.
The higher the income, the better are the chances of getting an ICICI Bank credit card with a higher total credit limit.
Regardless of your income, if your existing debt is high, it is possible that the bank will doubt your creditworthiness and sanction a lower credit limit. It is, therefore, critical to maintain a good debt-to-income ratio when applying for a credit card.
Your credit history is pulled up when you apply for an ICICI Bank credit card. If you have a good credit score and a positive credit history, the bank would be more inclined to trust you with a higher limit money.
The bank offers the ‘ICICI Credit Limit Increase’ option to customers who have owned their ICICI credit card for more than a year, with timely payments. In case the bank finds you eligible, it will reach out to you with an offer to increase your credit card limit. On accepting the offer, a bank representative will contact you and discuss details related to your new credit limit, associated charges, terms and conditions, etc.
Alternatively, you can increase your ICICI Bank credit card limit by calling the ICICI Bank credit card customer care and checking your eligibility. Do note that you would need to authenticate your request by providing your ICICI Bank credit card details. If you are found eligible, the bank will send you a confirmation message along with your new credit card limit.
You can try to increase your credit card limit using any of the methods mentioned below:
Type ‘CRLIM’ followed by the last four digits of your credit card number and send it to 5676766 from your registered mobile number. ICICI Bank will then automatically increase the ICICI credit card limit to the maximum based on your eligibility.
Login to ICICI Bank’s iMobile app
Click on the ‘Cards, Loans, & Forex’ tab
Choose ‘Card Number’ and select the ‘Manage Card’ option
Under ‘More Options’, click on ‘Manage Credit Limit’
Enter the desired credit card transaction limit
Click on ‘Submit’
As soon as you submit the ICICI Bank credit card limit increase request, the credit limit on your card will automatically be changed to your eligible limit.
Visit the ICICI Bank net banking page
Complete the ICICI credit card login process using your credentials
Under the ‘My Accounts’ section, click on ‘Credit Card’
Select the ‘Manage Credit Limit’ option
Click on ‘Go’
Check the ICICI credit card maximum limit and the existing ICICI Bank credit card limit
Enter the desired ICICI Bank card limit
You will receive a confirmation message stating that the ICICI Bank credit limit increase request has been processed. You can now proceed to make purchases as per the new ICICI credit card transaction limit.
If you are eligible for a credit card limit increase, you can also call the ICICI Bank credit card customer care on 1860-120-7777 or 1800-103-8181. Additionally, you can call 022-3366-7777 or +91-407-140 3333 (domestic customer travelling overseas) and request assistance.
The limit of an ICICI credit card is decided when you apply for a credit card. The bank considers the following before setting your credit limit:
Your income level
Your current debt
Your repayment capacity
The total credit limit on your ICICI credit card is the maximum amount you can borrow on your card. When all bills have been cleared, the available limit for spending is the same as the total credit limit. However, the available credit limit on the card reduces every time you use the card and increases every time you clear the credit card dues.
You are required to pay the overlimit charges for your ICICI credit card if your spends exceed the total card limit.
If you are eligible to upgrade the credit card limit on your ICICI Bank credit card, you can do so via SMS, iMobile app, or net banking account. Additionally, you can contact the ICICI Bank credit card customer care.
The credit card limit at ICICI Bank is decided at the time of credit card application after considering your income level, credit history, and current debt.