ICICI Bank Credit Card Limit

The ICICI Bank credit card limit is the maximum amount you can spend on your card. However, if you wish for greater flexibility, you might consider requesting an increase in the limit. This limit is assigned by the bank when the credit card is issued to you and is based on several factors, such as your income, credit history, existing debts, and repayment capacity. This helps determine how much credit is available for you to use.

ICICI Bank defines different types of credit limit parameters, such as:

Total Credit Limit

This is the total amount of money you can spend on your credit card. If your total credit limit is ₹1 Lakh, you cannot exceed this amount.

Available Credit Limit

This is the balance available for you to use on your credit card after you have made a purchase. Your available credit limit increases when you pay off your outstanding credit card dues. For example, if your total credit limit is ₹1 Lakh and you have spent ₹50,000, your available credit limit would be ₹50,000.

Cash Limit

This is the portion of your credit limit that can be withdrawn as cash from an ATM. It is usually a percentage of your total credit limit.

ICICI Bank considers several factors, including your income, credit history, and debt level. If your current circumstances have improved, it might be time for an ICICI Bank credit card’s limit increase.

Type of Card

Depending on the needs of its customers, ICICI Bank offers different cards. For example, the credit limit of a basic card may be lower compared to the credit limit of a premium credit card. You can choose a credit card limit that suits your requirements the best.

Income Level

The higher the income, the better the chances of getting an ICICI Bank credit card with a higher total credit limit.

Debt Level

Regardless of your income, if your existing debt is high, it is possible that the bank will doubt your creditworthiness and sanction a lower credit limit. It is, therefore, critical to maintain a good debt-to-income ratio when applying for a credit card.

Credit History

Your credit history is pulled up when you apply for an ICICI Bank credit card. If you have a good credit score and a positive credit history, the bank would be more inclined to trust you with a higher limit.

The bank offers the option to increase the ICICI Bank credit limit to customers who have owned their credit card for more than a year, and engage in timely payments. In case the bank finds you eligible, it will reach out to you with an offer to increase your credit card limit. On accepting the offer, a bank representative will contact you and discuss details related to your new credit limit, associated charges, terms and conditions, etc.

Alternatively, you can increase your credit card’s limit by calling ICICI Bank customer care and checking your eligibility. Note that you would need to authenticate your request by providing your card details. If you are found eligible, the bank will send you a confirmation message along with your new credit card limit.

Increasing your credit limit offers numerous benefits, including better financial flexibility, improved credit scores, and access to higher rewards. Here are some key advantages of an ICICI Bank Credit card limit Increase:

Higher Purchasing Power

An increased credit card limit permits you to make high-value purchases without worrying about reaching your limit.

Improved Credit Score

A higher credit limit can lower your credit utilisation ratio, which can be beneficial for your credit score.

Financial Flexibility

A higher credit limit allows you to tackle financial emergencies by giving you access to the funds you need.

Better Rewards

A higher credit limit lets you spend more, potentially earning more reward points and cashback offers.

Easier Loan Approvals

A higher credit limit can improve your overall credit profile, making it easier to qualify for other loans and credit products.

There are different types of credit limits associated with the credit cards from ICICI Bank. Here are some of them:

ICICI Bank Credit Card Total Credit Limit

The total credit limit on your ICICI Bank credit card is the maximum amount that you can borrow against. You can check your total credit limit on the dashboard of your ICICI Bank credit card net banking account or through the mobile app.

ICICI Bank Credit Card Available Credit Limit

The available credit limit refers to the remaining balance left on your card after spending to date. If you have cleared all your past outstanding bills in full, your available credit limit will be equal to your total credit limit. However, if you have unbilled spends or have not yet paid the last ICICI Bank credit card statement, your available credit limit will be lower than your total credit limit. The available credit limit increases as you make payments for your purchases.

ICICI Bank Credit Card Cash Limit

When you check the ICICI Bank credit card limit, you will notice that there is a part of the total limit that can be withdrawn as cash. This is the total amount of cash you can withdraw from the card through an ATM in case of an emergency. The ICICI Bank credit card cash limit usually makes up about 20%-40% of the total credit limit depending on your card type and profile.

In addition to these limits, you can also set your own ICICI Bank credit card limit (per day/daily limit) via the app or net banking account. This would put a cap on the amount of money that you can borrow from the card on a particular day. In certain cases, if you need more than the sanctioned ICICI Bank credit card limit, you can easily opt to increase the limit on your ICICI Bank credit card.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.