I applied for the Tata Neu Plus credit card, and it mentioned that the credit limit is shared with my existing HDFC credit card. I’m not sure what this means. Can someone help explain this?
A shared credit limit means your new card will use the same limit as your existing HDFC card, no matter if it’s Visa, MasterCard, or RuPay.
A shared limit means that both cards have the same total credit limit. For example, if your old card had a 100k limit, the Tata Neu Plus card will also have a 100k limit. The combined spending on both cards must stay within this 100k limit. You could spend 30k on one card and 70k on the other, or any combination, as long as the total does not exceed 100k.