SBI Card Over Leveraged? Here's the Solution - Experiment

[D₹V]

SBI cards offline application - applying by yourself & sending it to SBI cards office like HDFC Chennai method.


I recently emailed SBI card to issue me 2nd card & this was their reply:



We request you to visit our website www.sbicard.com. On the main page, please click on Cards for You and choose SBI Card of your choice, then click on Learn More. Post that click on Apply Now, it will take you to next page where you can provide the required personal information to apply for card.

(Or)

We would request you to download the application form from website www.sbicard.com and complete the form in all respects and send the original form at the below mentioned address.

SBI Cards and Payments Services Pvt. Ltd,

P.O Box No-16, G.P.O

New Delhi-110001

After completion of necessary formalities, if these adhere as per the policy, we would be able to send your card.

Meaning SBI card can be applied offline by filling form & sending it via post.

So I went to SBI site, scrolled down then click on form center & found this form (attached).

Whoever is unable to get SBI card, please try this method manually & update here.

I believe this can work because SBI will do all verification & stuff manually including CIBIL check. On the other hand, in online application, CIBIL thing is automated & rejects customer instantly citing internal policy (over leveraged).

What docs to send? I didn't see any mention of docs but you can attach income docs, address proof like aadhar or even C2C docs for better approval rate 😂 (I saw section of other card number option, so you can try).

P.s. I didn't read the whole form.

P.s. - This is an experimental post & doesn't guarantee 100% approval with trick.

If you copy this post, don't forget to give credit to OP (@D₹V).

 

[cc_dc_explorer]

@b4bhar

The above are reasons for U2 decline. It's not the vice versa..so if you got accepted there will be other parameters in play. If you get U2 decline then you need to look into the above pointers.

I believe, your income ratio will be high...ie. CL : Total Annual Income, and also do you have any existing SBI CC ??

 

[WandereR]

I think cashback is only available online. My total credit limit is around 30 to 35L

If you don't mind answering, what the CL as a percentage of your annual income?

 

[KLB@96]

Guys , holding Simplaysave and CB card with total 2lacs limit in total. Applied for SBI Apollo card and they declined my card. Anything can be done to get it approved ?

 

[b4bhar]

If you don't mind answering, what the CL as a percentage of your annual income?

its around 1.4 to 1.5

 

[b4bhar]

its around 1.4 to 1.5

yet they rejected my phonepe black card citing overleverage. they took reconsideration request on oct 5th but until today they didnt give their final decision. i dont why they are taking so long to take a decision. FYI -- they instantly approved my sbi cb card with 3.7L limit

 

[Himanshuch]

It seems the only way to bypass overleveraged issue without closing existing cards is to get an FD based card. Thats what the sbi card agent told me.

Sheer stupidity.

 

[nikhilv0303]

I got a reply after 10 days that my reconsideration is also rejected due to overleverage

yet they rejected my phonepe black card citing overleverage. they took reconsideration request on oct 5th but until today they didnt give their final decision. i dont why they are taking so long to take a decision. FYI -- they instantly approved my sbi cb card with 3.7L limi

 

[b4bhar]

It seems the only way to bypass overleveraged issue without closing existing cards is to get an FD based card. Thats what the sbi card agent told me.

Sheer stupidity.

maybe reducing the high limits on the cards that we rarely use is also another option. i was able to reduce around 11.5L limit in that way

 

[Dr.AMAN]

It seems the only way to bypass overleveraged issue without closing existing cards is to get an FD based card. Thats what the sbi card agent told me.

Sheer stupidity.

Taking FD card will further increase credit limit and add to the overleverage🤣

 

[b4bhar]

I got a reply after 10 days that my reconsideration is also rejected due to overleverage

did they mention anything on when you can re-apply? how many days did they take to respond on the reconsideration?

 

[nikhilv0303]

did they mention anything on when you can re-apply? how many days did they take to respond on the reconsideration?

They took approx 10 days and replied via Email

Nothing mentioned about re-apply

 

[Chitra007]

They took my request for reconsideration of my SBI card application and after 12 days, they replied this. Is it due to an overleveraged issue?

 

[nikhilv0303]

They took my request for reconsideration of my SBI card application and after 12 days, they replied this. Is it due to an overleveraged issue?

View attachment 113556

Ask them the reason

 

[drvirag]

Ask them the reason

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

 

[Himanshuch]

They took my request for reconsideration of my SBI card application and after 12 days, they replied this. Is it due to an overleveraged issue?

View attachment 113556

In the same email, I got an option to send a message to the grievance team. They replied saying the rejection for me was due to overleverage issue.

 

[Abhisek]

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

Many PSU banks do this. SBI isnt alone. RBI can't do anything as it is a internal policy of SBI. If some of them turns NPA, RBI won't come to save SBI. The only way is to reduce limit on other cards and then apply.

 

[drvirag]

Many PSU banks do this. SBI isnt alone. RBI can't do anything as it is a internal policy of SBI. If some of them turns NPA, RBI won't come to save SBI. The only way is to reduce limit on other cards and then apply.

I have 25+ credit cards including almost all psu. no1 is like sbi. i have to close 22-23 cards to get sbi cashback. thats not worth.

 

[Boy 07]

I reduced my limit 23L to 11 L to take sbi
Finally soft approved varification done tele varification done
But rejected
Asked the reason they told due to internal policy and apply after six months
Lodged the compliant to RBIO got the response from bank with a reason which is not true
RBI also closed the complaint.
six months are going to complete next month let see what happens

 

[Dr.AMAN]

I reduced my limit 23L to 11 L to take sbi
Finally soft approved varification done tele varification done
But rejected
Asked the reason they told due to internal policy and apply after six months
Lodged the compliant to RBIO got the response from bank with a reason which is not true
RBI also closed the complaint.
six months are going to complete next month let see what happens

At 11L what is the % of ur total credit limit (all CCs +loans) to ur annual salary?

 

[Strange]

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

RBI ke order se hi SBI card ne over-leveraged policy banaya to fir RBI BO me complaint karne se kuch nahi hone wala. RBI ko bolo ye policy band kare.