How to Increase your Credit Card Limit for ICICI Bank

There are several credit cards offered by ICICI Bank to take care of all your financial requirements; however, there are various cases where the bank maintains a low credit limit. Increase Your Credit Card Limit for ICICI Bank so that you can spend more from your credit card account, but if properly managed, your credit score improves. So, let’s learn how to Increase Your Credit Card Limit for ICICI Bank

Why Should You Increase Your Credit Limit?

Applying to increase your credit card limit for ICICI Bank has numerous advantages:

• Improved Credit Score: A higher limit decreases your credit utilisation ratio, which may improve your credit score.
• Greater Financial Flexibility: With a higher limit, you can make big-ticket purchases or pay up for emergencies without going over your credit card’s available limit.
• Enhanced Loan Eligibility: You will be eligible to apply for personal loans, which may have a softer interest rate, since more responsible lenders will look up to you.

Factors That Affect Your Credit Card Limit Increase Request

When you are requesting to increase your credit card limit for ICICI Bank, ICICI Bank checks your profile in terms of the following.

1. Repayment History: Consistently paying off the outstanding credit card dues is of paramount importance and has excellent chances of getting your application through.
2. Income Level: The more the income, the higher is the limit, usually. You may be asked for proof of higher income if you are applying for a higher amount, such as wage slips or tax returns.
3. Existing Debt: The check on debt-to-income ratio occurs when you have other loans or other outstanding balances. The lower this number is, the more hopeful you are.
4. Credit Score: AEnsure that the credit score must be sufficient enough to take the limit up. Credits above 750 are favoured by the lenders for increased limits.
5. Card Usage: The regular and responsible use of your ICICI Credit Card will make you qualified for an automatic increase of the limit. Just see that you use the card frequently but do not load it.
6. Duration of Credit Card Ownership: If you have been a cardholder for an extended period. This is an indicator that shows you always responsibly use the cards. As such, your credit limit will increase without asking.

Methods to Increase Your Credit Card Limit for ICICI Bank

1. Request via the iMobile Pay App

Apply to Increase Your Credit Card Limit for ICICI Bank using the iMobile Pay application from your home. These are the steps:

• You need to download the application and then log in to your account using the app’s login feature.
• Select “Cards, Loans and Forex”.
• Click on ‘Manage Card’ and then choose the link to ‘Manage Credit Limit.’
• Enter your chosen credit limit and then apply.
• Once the request is processed with a favourable response, you are intimated with an SMS and the new limit gets implemented online.

2. Increase via Net Banking

Through the Net Banking facility, ICICI Bank has also enabled the cardholders to check the limit and increase your credit card limit for ICICI Bank. It is available as mentioned below

• Login through user-id and password to their Net Banking portal
• For checking, go to ‘My Accounts’ and click ‘Credit Card.’.
• Look for the option ‘Manage Credit Limit.
• Select your limit, give your OTP that you obtain on your registered mobile and apply.
• You will see instant confirmation in case you get approved.

3. Call ICICI Customer Care

You may easily request a credit limit increase when you reach out to the customer care team at ICICI. Dial a free number- 1800 1080- get the executive walking you through the whole procedure. It will then necessitate submission of some other forms like card number, recent income changes, among others.

4. Automatic Limit Increase

ICICI Bank may automatically increase your credit card limit for ICICI Bank if its internal parameters are met. This often happens after an extended period of steady usage, timely payments, and good overall credit behaviour.

Can You Increase the Limit on Co-branded Credit Cards?

ICICI Bank has a co-branded credit card, the Amazon Pay ICICI Credit Card, which offers users unique benefits and reward options. You can also follow the same process to increase your credit card limit for ICICI Bank through customer care, internet banking, or mobile banking, just like any other credit card of ICICI Bank.

Additional Tips to Increase Credit Card Limit Faster

1. Provide Proof of Higher Income: You’ll need to update income proof for ICICI Bank, containing recent salary slips, form 16, or latest income tax returns, in order to qualify to increase your credit card limit for ICICI Bank.
2. Enhance Your Creditworthiness: To improve the credit score it is advisable that payments happen on time; there could be a reduction of the total amount owing; no default should exist on other loans and credit cards.
3. Use the Card Regularly: Show ICICI Bank that you are an active user of the credit card by using it often and repaying the amounts on time.
4. Request for Limit Increase Sparingly: Frequent requests for a credit limit increase can raise red flags. Requests for a limit increase are only made when necessary and after you have proven your financial responsibility. If you’re considering closing a credit card due to a low limit, make sure to review all your options first — learn how to close an Axis Bank credit card the right way.

How to Check Your Current Credit Limit

Before requesting to increase your credit card limit for ICICI Bank, a wise step would be to know the credit limit you are currently carrying. Here are a few steps to check:

1. Mobile Banking: The consumer can check their credit limits by logging into the iMobile Pay app and reaching ‘Credit Cards’.
2. Net Banking: Access your account through ICICI’s net banking portal, select the ‘Credit Card’ option, and review your credit limit details.
3. SMS: Send an SMS to 9215676766 with the message ‘IBALCC <last six digits of your card number>’ from your registered mobile number.
4. Monthly Statement: You will find in detail all your available credit limit and usage in the credit card statement.
5. Customer Care: Dial the ICICI Bank customer care number seeking details of your credit limit.

Benefits of Increasing Your Credit Limit

1. Boost Your Credit Score: You will have a lower utilisation ratio with a good high credit limit, so you will be positively affected regarding your credit score.
2. More Spending Power: Greater flexibility will be afforded since you can spend a large amount of money that will be used for various purchases or emergency needs.
3. Better Loan Terms: or the loans, the conditions are also likely to get improved because of your great standing as reflected by a very good high credit limit.
4. Premium Card Eligibility: You qualify for premium credit cards by virtue of regular credit limit increases, which do feature a number of premium benefits such as reward or travel benefits, among others that include cashback benefits.

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Conclusion

To increase your credit card limit for ICICI Bank is a brilliant step to enhance your monetary flexibility, improve your credit score, and manage big-ticket purchases. You may apply for an increase in the credit limit through numerous routes, either online from a mobile or net banking, or by contacting customer care. Managing your credit will work in your favour, offering you a higher limit that is free from debt collection.