ICICI Credit Limit Increase Offer

Recently, ICICI Bank offered me a free credit limit increase for my Lifetime Free ICICI Platinum Chip Credit Card. My limit is being increased by ~31%. For last couple of weeks, I was seeing increased available credit limit on my ICICI net-banking page. I also received an SMS stating that they are offering me a free credit limit increase, after the bill for the latest credit cycle was generated. The same limit enhancement offer is visible in iMobile app as well.

See the last SMS message in the above screenshot

In the Latest Bill tab you will see the Manage Limit option just above My Rewards.

I have been using the card for around 10-11 months. Although this increase seems low, considering utilization, it seems fair. The highest credit utilization was around 15% once, while for the last couple of months, it was <1%. On average it was in 2-3% range.

One can accept the increase through any of the three modes, SMS, netbanking or iMobile. It will immediately update the limit. Since this is an automatic offer based on your usage and credit history, you don't have to submit any income or ITR documents. Another thing to remember is that, Limit Enhancement does not affect your credit score. It will only help you increase your credit score by reducing your Credit Utilization Ratio.

I have taken this limit increase offer through iMobile app. I hope to get one more Limit Enhancement offer before I approach my Relationship Manager (RM) for card upgrade. I am a privileged customer of the ICICI bank. So, I can easily get a LTF Rubyx Credit Card which I didn't opt for the first time when I made my first mistake in credit card world. I can still apply again and I'm sure I'll get it, but since I recently got my ICICI Amazon Pay Credit Card, a new application will negatively affect my credit score so I am waiting for the right time to upgrade the Platinum card.

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