On one fine day, I received a call from Yesbank credit card department saying that I’ve consumed more than 80% of my credit card limit and that I can opt for a temporary limit enhancement if I wish to. Though I’m fine with my existing limit, I agreed for a temporary limit enhancement, so I get some cushion on credit limit utilisation ratio and also i want to see how this stuff works.
The same was taken up for review and then was approved with 2X limit in 3 days. Now the net-banking shows the enhanced limit as my actual credit limit. The Catch is that I need to payback the additional usage above my existing limit within ~20 days. I was given a date before which I need to clear my extra usage on the card.
The Process: You get the call. You agree for the limit enhancement – they approve/deny and set a date to clear those additional usage. The Limit gets increased to the newly approved one and then falls back to the original number on the date mentioned by them.
Note: YesBank mobile App has been updated and now can show all details of your credit card on their mobile app. That adds one more reason why you should get Yesbank Credit Card.
So what’s the eligibility criteria to get temporary limit enhancement?
You need to receive a call based on your usage. Ideally, spending 80% or more should trigger the call as it did for me. You can’t initiate it through phone support as they seem to have less access to this, as usual.
The phone support can still get temporary limit enhancement if you have any emergency need. No idea how this is defined but its more like fuel spend or international travel spend, etc.
While getting high temporary limits could get easier like this way, remember, with high limit comes high responsibility. Also, i don’t see a use in this temporary limit enhancement thing unless someone really has a requirement, like high ticket purchase. I would rather suggest you to go for permanent limit enhancement. Check out How to Increase Your Credit Card Limit with 7 proven ways.
Have you received such calls for temporary limit enhancement from Yesbank or maybe on other cards? Feel free to share your experiences in comments below.