Travel-focused fintech Scapia in the line of fire; banking partner calls it a 'periodic review'


Sohini Mitter

23 reads

Sohini Mitter

23 reads

Scapia, which issues a travel-focused credit card in partnership with Federal Bank, has outraged users by slashing credit limits drastically. Sources say only inactive users have been affected, and this is a part of any bank's periodic review of credit products.

January 12, 2024


Travel-focused fintech firm Scapia is in the line of fire. After enjoying word-of-mouth popularity, a new round of capital infusion, and glowing referrals from credit card communities over the last 2-3 months, the Binny Bansal-backed startup has been facing user outrage this week. 

Scapia’s key product—a lifetime-free (LTF), co-branded credit card issued in partnership with Federal Bank—is seeing drastic reductions in users’ credit limits, without any prior notification or warning. Credit card analysts reckon that customers who were using Scapia as a backup card and used it infrequently have been the worst hit.


Confirming this, a person close to the development told The CapTable, “Regular users haven’t been affected. It is those who were not utilising the credit limits that have been hit. Most of these were inactive users, some with 15-20 cards.”

Scapia users weren’t sent prior alerts via in-app notifications or emails/text messages in order “to avoid sudden reckless usage of the card,” added the person quoted above. 

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