It is an undeniable fact that credit cards bring with them a world of financial freedom. It saves the cardholders from wandering for loans during the times of financial crisis. In fact, in case of making big-ticket purchases also, credit cards have played a very important role. Gone are the days when individuals had to sit and wait for company bonuses to be able to make a high-end purchase like a fridge, washing machine, etc. Thanks to credit cards, they do can do it now without having to wait for an annual bonus.
However, this financial freedom also comes with cap which is called the credit limit. It can be defined as the amount of money that the bank issues to a cardholder on a particular card. Axis Bank has different credit limits and it varies from card to card. Let us find out more about this concept.
Axis bank offers credit limit increase for its existing credit card holders under the ‘Credit Limit Enhancement’ feature. To become eligible for enhancement the credit card should be more than three months old. It should be active and has no payment delays throughout its history. There should be no limit enhancement/decrease or Instant loan availed on the card in the last six months.
Despite all the eligibility factors, the final credit limit enhancement approval of your credit card is subject to Axis bank’s internal policies.
During the bank’s periodic review, if your card becomes eligible for limit enhancement, you may receive a call or an SMS/e-mail from the bank. If you’re fine with all the terms and conditions and would like to avail the offer, you can convey your acceptance on the same call. The phone banking executive will then direct you about how to proceed further with the process.
Typically, once the request has been raised, the bank will take one day to process the same. Once your card is upgraded you will receive a confirmation message on your registered mobile number and e-mail.
If you don’t receive any call from the bank, you can raise a request by yourself to avail the offer. For that, as mentioned above, your card should be more than three months old, don’t have any late payments, and have not received any limit enhancement in the past six months. If you are sure that you met the above criteria, you can follow any one of the options mentioned below.
If you have Axis bank internet banking account with your existing credit card registered in it, you can simply login to check the eligibility of the card for limit enhancement and apply for the same.
Login to your online banking account, click Accounts >My Credit Cards Accounts> Limit Enhancement & Check for Limit increase.
If your credit card is eligible, you can select the same and submit the request for limit enhancement. In case, your card is not eligible, you will find a prompt message saying ‘your card is currently not eligible for limit enhancement’.
Download Axis bank mobile app. Login with your net banking credentials, click Credit Cards > Check for limit increase. If your card is eligible, the card number will be displayed, selecting which you can raise a request. In case, it’s not eligible, you will see a prompt message saying the same.
You can simply call Axis bank customer care numbers 1860-419-5555, 1860-500-5555, to check your eligibility as well as to raise a request for limit increase on your credit card.
You can mail to them at email@example.com requesting to increase the credit limit on your card.
If your card is eligible for enhancement, you may have to submit the following documents if you don’t have an account with Axis bank. Last two months’ salary slips, if salaried, and latest IT returns if self-employed.
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