Credit Cards with lower limit preferred by Cardholders

Getting aware of the credit card frauds and temptation to overspend, since it’s the summer holidays, the customers are asking their banks to lower the credit limit on their cards.

"Yes, we do receive such calls from customers. Today, there is a lot of awareness among card holders who plan most of their vacation well in advance and want to minimize their spending," said CEO SBI Cards and payment services, Kadambi Narahari.

Punjab National Bank also reports the same requests coming in but there are few who want to enhancethe limit as well. The number of credit card holders decreased in 2011 to 21% despite the increase in number of premium card-holders to 29%, according to the survey by HSBC.

"People are using cards for basic purposes such as air tickets and utilities payment. Also, there are more place where cards are accepted," said Narahari.