Unable to pay using credit card on klook

Niyo for students Payments
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1

I loaded 50k Rupees in my niyo global credit card, My current FD limit is 10k.
I am not able to do payments using the card. It decline the payment with message that , channel is locaked. I checking my card setting settings, I have enable every type of payment channel and also I have increased the Txn limit to 70k for each type.
I am not able to do a payment of even 5k.
Also, not able to raise any ticket in the app due to some error.

2

Hi @ARYAN_AGARWAL,

Welcome to the Niyo Community! :raised_hands:

I understand you’re having trouble with your payments using your Niyo Secured Credit Card. It appears that your transactions were declined because you’ve reached the spending limit based on your Fixed Deposit (FD) amount.

Here’s a simplified explanation of the limits:

  1. Monthly Spending Limit: Your card’s monthly spending limit is set to 2.5 times your FD amount. For example, if your FD is ₹5,000, your monthly spend limit would be ₹12,500. This limit applies even if you make repayments to your card before the billing date.

  2. Limit Usage: If you utilize your full credit limit and repay it, you can only spend up to ₹12,500 within that month. This limit is calculated based on your FD amount and does not change with repayments.

  3. Increasing Your Limit: To increase your monthly spending limit, you can either create a new FD or wait until the next billing cycle to initiate further transactions. Additional FDs will increase your spending limit accordingly.

Since your current FD limit is ₹10,000, you can spend up to ₹25,000 (2.5 times your limit) within the month.

Thank you for your understanding. Hope this helps!