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If you are an ICICI Bank credit cardholder, there is good news for you. The bank is now allowing a higher credit limit to its credit cardholders. Many ICICI cardholders have received a message from the bank that they are now eligible for a higher credit limit on their ICICI credit cards.
ICICI Bank Credit Limit Enhancement Offer
Recently, many ICICI credit cardholders have received an SMS from the bank intimating them that their credit card is now eligible for an increased credit limit under the bank’s credit limit enhancement offer. The credit limit on many ICICI credit cards has been increased by 2x to 3.5x. For some cardholders, the credit limit has been increased within two weeks of card issuance.
How to Avail the Increased Credit Limit
You can avail of the higher credit limit on your ICICI Bank credit card by any of the following three methods-
- Through iMobile App: Login to the iMobile app, visit Card & Forex section, select the card you wish to change the limit for and tap on Manage Limit. You can now change the credit limit on your ICICI Bank credit card from here.
- Through Internet Banking: Login to ICICI Bank internet banking, click/tap on Credit Cards in the Cards & Loans section and then click/tap on Edit in the Manage Cards menu.
- Through SMS: You can also change the credit limit on your ICICI Bank credit card by just sending an SMS CRLIM to 5676766.
Bottom Line:
This credit limit enhancement offer by ICICI is certainly a welcome move by the bank. Earlier in September 2021 also, ICICI increased the credit limit for many of its Amazon Pay credit cardholders.
While on one hand, you can leverage the increased credit limit to earn more Reward Points/cashback and achieve spend milestones, a higher credit limit also means that you will be enticed to spend more with your credit card, which may not be the best thing to do from your personal finance viewpoint. However, if you do not increase your expenditure even after your credit limit is increased, it will reduce your credit utilization and therefore have a positive impact on your credit score.
