Wait! Are you a credit card holder then I would advise you to check your credit balance right now or immediately. Why? Because credit card issuance authorities, banks and companies are contemplating about reducing credit/cash limit yet again. Feeling cheated? Well, you are not alone. Many people are sharing the same sentiment with you. Reason, they weren't told in advance or communicated about the development.

Banks participating in this crime are HSBC Bank, ICICI Bank and HDFC Bank. So if you are using credit card of any bank whose name has been mentioned here, mate, you can land up in a serious problem if you go off from this page without reading about it further.

While this was about what precisely is happening, respective banks have their own version of story to tell to people.

Accused No. 1 - ICICI Bank

ICICI Bank, one of the largest private credit card solution provider in the country, argued that the move is a part of their prudent credit line management drive which says that bank must reassess customer's ability to repay dues from time to time. Indirectly, it means, if you are having ICICI Credit card, then your salary account with the bank is under constant scrutiny. So watch out how you spend because the more they charge you, the more repair work is done in terms of correction of balance sheets and financial statements.

Accused No. 2 - HDFC Bank

If that was about ICICI card, HDFC Bank too has smartly switched gears. They, thanks to their lack of knowledge, have clearly rebuked all the allegations. Meanwhile, without fail, they added that like ICICI Credit card division they too have been treading the credit path consciously. Interesting thing to notice here is the fact that like every bank, they too have put the blame on customers, stating that inconsistency in payment of the dues from customer's side is the prime reason behind the decision. Well, quite an obvious thing to say.

Final Ruling

After listening to both the banks, it is quite clear that they (referring to banks here) are never going to take the blame and if they will, bad behavioural responses from customers (in terms of money) is instigating them to do so. On top of that, someone (referring to a senior bank official) has been heard saying that inconsistent usage i.e. unused credit limit is another chief reason for the development happening. I am quite sure this is one reason that is difficult to beat.