Anyone got SBI Cashback Credit Card Over Leverage issue fixed? Let's close cards??

[Sobirvs]

Well I was at SBI branch for my savings account and talked to a guy (actually 2 guys, 2 diff brances) and I got something from his phone, it was from his training manual.



Now I have probably ~25 credit cards(some on shared limit). CIBIL report says I have 21 credit cards. How the hell should we fix overleveraged issue fixed? Has anyone been able to do so? I am not asking someone who got declined because of other reasons(like my mom got declined for cashback coz mobile number match - my number is on her INB). I am saying, has anyone able to fix this? Like may be closed some cards or something? If I am let's say file 7L ITR, my alone ICICI and SBI(simplyclick) card limits will be more than my income (5L+3.95L) Does that mean I should close my all other cards and still there is no guarantee I will get cashback card no? I am sure many here have credit cards 10x above their income and still they are able to get cashback card.

Now what about shared cards? for example I have 7 ICICI cards (rupay/coral/rubyx mc-amex/sapphiro mc-amex/apay) but at CIBIL it shows only 2 cards. Probably coz apay and coral are reported and all rubyx/sapp/rupay all are under coral. Strange I though even apay is under my core icici cards but it's not. I used to have same limit with core icici card and apay 3-4 yrs back and now my apay limit is 5L and core card limit is 4.7L. Anyways, my question is if I keep apay and umm coral and close all others, does that mean it will help? ICICI will still report to CIBIL as 2 cards no? So does that mean I should close cards only who are shows as separate??

Damn Amex also report seperately at CIBIL, even kotak too. Why some banks report cards as one and some don't??

Anyways, if someone was able to fix over leveraged issue and how, let me and all of us know?

 

[BVCBVC is verified member.]

I have 2 SBI cards already (Simply Save and SBI CB). No increase in CL even after multiple escalations (from 2-2.5 years) and good usage on both the cards. My total CL is 2.5X my annual income.

Now they are offering SBI BPCL card (499 annual fees with Split limit on my Simply Save). Will there be any chance to increase the CL of any of the cards after taking this 3rd card? I don't have any requirement to take the third card.

 

[Credit_Cards]

You have decreased the limit so new limit will be reported

along with that there is a pattern with SBI, they make getting second and third card more and more difficult unless its pre approved

 

[Boy 07]

Do it and please make sure you report on this thread what happens. If you don't post on this thread and post in some other thred, I might not get notification so pls do DM me if possible.

Also -
What is your ITR btw?
Do you already have a SBI Card currently or no SBI Card?
Will you be applying for cashback card of SBI?
Do you have SBI bank account?
How many times have SBI declined you for overleveraged and if yes, was it for cashback card or some other SBI card?

Offcourse I will update here if I get the sbi card .
My annual income is 6L
I don't have any sbi card
I have sbi saving account since 2010 but sbi is not available in my pincode so there was no offer of sbi card

I started applying sbi card through agent in the year 2022 that time I had only 2 cards I got principally approvel with 88 k limit but In verification it got declined then I applied after six months then got declined in verification one year passed and I got 5 more cards from other banks
Then I applied it's was Overlevaged.
Now I will try my luck in 2025 With income 6L and cards limit 13.63 L

 

[Sobirvs]

Offcourse I will update here if I get the sbi card .
My annual income is 6L
I don't have any sbi card
I have sbi saving account since 2010 but sbi is not available in my pincode so there was no offer of sbi card

I started applying sbi card through agent in the year 2022 that time I had only 2 cards I got principally approvel with 88 k limit but In verification it got declined then I applied after six months then got declined in verification one year passed and I got 5 more cards from other banks
Then I applied it's was Overlevaged.
Now I will try my luck in 2025 With income 6L and cards limit 13.63 L

are you still on the same pincode currently as before when sbi wasn't available on your pincode?

 

[Boy 07]

are you still on the same pincode currently as before when sbi wasn't available on your pincode?

Now I have my office in serviceable pin code and I live at my sister house in serviceable pincode

 

[Ram1]

Closed / Request in process
Onecard 3.42L
RBL shoprite 57k
HDFC Tataneu Infinity3.45L
ICICI Apay 5L

Will close :
IndusInd Eazydiner 2.5L
IDFC Wealth 5.14L
Axis My zone 4.65L
Axis FK 4.65L
Kotak Myntra 4.65L
Kotak Rupay 2.85L

Might close :
IndusInd legend Signature 3.5L
Amex Gold Charge (??)
HDFC Swiggy 3.45L
IDFC wealth 5.14L

Won't close :
Kiwi Yesbank 3L
HDFC Millennia 3.45L
RBL IOCL 53k
SBI Simplyclick 3.94L
Axis Citi rewards 4.65L
Kotak Urbane 4.65L
Amex Gold 1.89L
ICICI Gemstone cards 4.7L

My goals are basically 3 cards only for now. Infinia, SBI Cashback, HSBC(Self employed BS). I know even after closing so many cards, it won't make me less overleveraged but I will see what to do in near future. For now, this is how much I am thinking to do.

Have u tried escalation route?
Like asking for reconsideration of rejected cb card application based on split limit?

 

[sjmajumder]

@sjmajumder
Is this possible cos you had told me to ask bank to reduce the cc limit and updating in app will not change in cibil.

Yes, that is how it is supposed to work. The limit you set in app is not your CL. It is your usage limit and you can change it anytime up to the CL given by bank.

 

[Ram1]

I have 2 SBI cards already (Simply Save and SBI CB). No increase in CL even after multiple escalations (from 2-2.5 years) and good usage on both the cards. My total CL is 2.5X my annual income.

Now they are offering SBI BPCL card (499 annual fees with Split limit on my Simply Save). Will there be any chance to increase the CL of any of the cards after taking this 3rd card? I don't have any requirement to take the third card.

No they won't give LE, don't take that 3rd card and ruin ur cibil score

 

[Sobirvs]

Have u tried escalation route?
Like asking for reconsideration of rejected cb card application based on split limit?

I didn't ask for split limit but I did ask for reconsideration in December, they went ahead and asked for ITR etc docs and then they did nothing. I emailed again and again and I got ususual robotic replies even after that so I stopped chasing that route.

I think I should have asked for split limit, ugh...!!! Can I email them again and try my luck or it is a gone case?

 

[Ram1]

I didn't ask for split limit but I did ask for reconsideration in December, they went ahead and asked for ITR etc docs and then they did nothing. I emailed again and again and I got ususual robotic replies even after that so I stopped chasing that route.

I think I should have asked for split limit, ugh...!!! Can I email them again and try my luck or it is a gone case?

Yeah better to try than to close all those cards. Its hard to get some cards if we close

 

[Ram1]

I didn't ask for split limit but I did ask for reconsideration in December, they went ahead and asked for ITR etc docs and then they did nothing. I emailed again and again and I got ususual robotic replies even after that so I stopped chasing that route.

I think I should have asked for split limit, ugh...!!! Can I email them again and try my luck or it is a gone case?

Actually I'm on the same boat, my application got declined 10days back, i mailed them to reconsider it on split limit, still they asked itr and bs. Don't know why, still sent.
Will see what will happen

 

[Sobirvs]

Actually I'm on the same boat, my application got declined 10days back, i mailed them to reconsider it on split limit, still they asked itr and bs. Don't know why, still sent.
Will see what will happen

if you have success, let us know. The way my SIL got the cashback card, it feels like they are giving it to anyone. My SIL literally had only prime card with tons of late fees, even defaults on that card (2-3 times a year but she forgot like only 2-3 days and then paid, card is 6 yr old), still she got the cashback card. She had no other card though and had limit of 40k on it, even though SBI was giving 70k limit for her, she never did it as she isn't into cc game.

 

[Ram1]

if you have success, let us know. The way my SIL got the cashback card, it feels like they are giving it to anyone. My SIL literally had only prime card with tons of late fees, even defaults on that card (2-3 times a year but she forgot like only 2-3 days and then paid, card is 6 yr old), still she got the cashback card. She had no other card though and had limit of 40k on it, even though SBI was giving 70k limit for her, she never did it as she isn't into cc game.

Sbi understood the cc game actually. Initially they distributed cb cc like a cake, everybody misused 10k cashback. They gradually understood their mistakes, reduced caps and introduced this scrap overleverege rule.
Sbi thinks that one who has multiple credit cards will use a lot to gain cashback, so they are preferring low usage profiles

 

[Sobirvs]

Sbi understood the cc game actually. Initially they distributed cb cc like a cake, everybody misused 10k cashback. They gradually understood their mistakes, reduced caps and introduced this scrap overleverege rule.
Sbi thinks that one who has multiple credit cards will use a lot to gain cashback, so they are preferring low usage profiles

My SIL got the card 2 weeks back btw.

 

[Sobirvs]

as everyone knows I have SBI Simplyclick card with limit of 3.9L.

I again started conversation via sbicard.com login and raised request for reconsideration of sbi cashback card.

customer service denied saying we cannot, we apologize.

then I escalated this to nodal, they denied too.

Then I escalated this to principal nodal on 5th. on 6th Feb they called me but I was busy and phone was on silent. They emailed and I asked them to call again.

On 7th today they called and said they will reconsider me, and are asking for ITR/BANK Statement of last 3 months.

Problem is, same thing happened in last week of December, where they were willing to reconsider me, and asked for ITR/Bank statement. I provided them both, and then they replied me "Dear SANJIV CHAUHAN, we apologize but you are denied and we can't give you cashback card".

Problem is, my name isn't sanjiv chauhan lol, I replied them the same. They never replied to me after that.

Anyways, will give them my ITR and statement again and let's hope it works this time.

 

[Ram1]

as everyone knows I have SBI Simplyclick card with limit of 3.9L.

I again started conversation via sbicard.com login and raised request for reconsideration of sbi cashback card.

customer service denied saying we cannot, we apologize.

then I escalated this to nodal, they denied too.

Then I escalated this to principal nodal on 5th. on 6th Feb they called me but I was busy and phone was on silent. They emailed and I asked them to call again.

On 7th today they called and said they will reconsider me, and are asking for ITR/BANK Statement of last 3 months.

Problem is, same thing happened in last week of December, where they were willing to reconsider me, and asked for ITR/Bank statement. I provided them both, and then they replied me "Dear SANJIV CHAUHAN, we apologize but you are denied and we can't give you cashback card".

Problem is, my name isn't sanjiv chauhan lol, I replied them the same. They never replied to me after that.

Anyways, will give them my ITR and statement again and let's hope it works this time.

This means that they are copy pasting replies lol.
I also sent docs and got call and told they sent request for reconsideration - subject to approval..
This seems like a scam

 

[Sobirvs]

This means that they are copy pasting replies lol.
I also sent docs and got call and told they sent request for reconsideration - subject to approval..
This seems like a scam

idk how this is a scam, as scam means i am paying for something but not receiving the goods/services.

But ya, I would say they usually always decline even after sending bank statements/ITR. I will still send them to check my luck. But my account is in ICICI and I tried for account statement downloading but icici being an idiot as they are, are just sending me my auto sweep FD statement which is linked to my savings account and not showing me my actual savings acc statement. I hate iciic lol

Edit : response sent to principal nodal. Let's hope they allow giving the card. If they do even with 10k limit, it's fine. I can always ask customer service to transfer my simplyclick card limit like 50% to cashback card.

 

[iamdhamo]

@Sobirvs in my first attempt visa cb card was declined. Applied after 90 days mc cb card and it was approved but blocked after 5 days of usage.

They said they wrongly approved and asked me to again apply n see after 90 days. I guess it's due to overleverage as I remember seeing this ac02 reason in bank staff app when I visited branch cos initially it said card is locked. Then I came to know its blocked from sbi end

My overall CL is close to 40L and so decided to decrease leverage by closing cards that I don't use much

Closed idfc which had 3L
Requested icici to reduce limit from 5.8 to 1L and I have two icici cards (amazon pay and coral)
Planning to reduce hsbc live limit from 5.8 to 2L
Indusind platinum from 5 to 1L or i may close this

So this will reduce overall CL from 40L to 20.4L or 21. if my package is above 21L then card should be approved right?

I also have axis airtel n axis ace out of which I may close axis ace. Both have 1.7L limit

Guess after 90 days when I reapply they will approve the card

 

[Sobirvs]

@Sobirvs in my first attempt visa cb card was declined. Applied after 90 days mc cb card and it was approved but blocked after 5 days of usage.

They said they wrongly approved and asked me to again apply n see after 90 days. I guess it's due to overleverage as I remember seeing this ac02 reason in bank staff app when I visited branch cos initially it said card is locked. Then I came to know its blocked from sbi end

My overall CL is close to 40L and so decided to decrease leverage by closing cards that I don't use much

Closed idfc which had 3L
Requested icici to reduce limit from 5.8 to 1L and I have two icici cards (amazon pay and coral)
Planning to reduce hsbc live limit from 5.8 to 2L
Indusind platinum from 5 to 1L or i may close this

So this will reduce overall CL from 40L to 20.4L or 21. if my package is above 21L then card should be approved right?

I also have axis airtel n axis ace out of which I may close axis ace. Both have 1.7L limit

Guess after 90 days when I reapply they will approve the card

I wonder how they approved the 2nd time, may be you found a loophole they had no idea about?

What do you mean you requested ICICI to reduce limit? afaik banks don't reduce limit unless they want to. Do you mean decrease limit via imobile/INB website where you can decrease limit? if yes, bank I think will still show your limit as how much max limit they have given you.

I have closed about 8 cards for now, I still have alot more, I do plan to close more. Package doesn't matter, ITR matters, whatever is in the ITR (this includes package, stock profit, income, FD/Savings interest etc).

Will your card be approved? I don't know. I don't know a single person who has been approved for cashback card if they were declined for "overleveraged" reason. So there is a possibility even if you have CL below your ITR declared income, they might still decline as there doesn't exist a single person who has been approved after they have been declined for overleveraged excuse. Also it says "not curable" so not sure if this work. It has 90 says cooldown but I would say just to be on the safe side, make sure you apply after 6 months of your last decline, You might still stand a chance. May be after 6 months and once u file your next ITR. Atleast 2 months after you file your new ITR and total 6 months max.


I have asked for reconsideration, they asked for ITR/Bank statement. Screenshots below. I asked customer service they denied, then nodal declined too, then principal nodal said they will reconsider when they asked for itr/bank statement of 3 months.




So I sent them docs 2 days back, and they got back to me today saying this




Now, they are saying to wait for 10 days till 19th for an update. I haven't replied to this yet. I will wait. Let's see. I am curious abt one thing, 1st reconsider email, principal nodal said your app no starting with 28....... but in next email when they told me to wait for 10 days, the "app no. via ref no." starts from 13. What is that about? When I track sbi application for reconsider app no. starting 28, it shows declined (which is the previous decline I got), and then the ref no. when I check in track sbi application, it shows the ref no. "You have entered an incorrect application number,Re-enter your application number to track it."

Anyways, I'll wait till 19th-20th may be, if I hear something back, great, if not, then will reply to this email back and see what they say.

 

[iamdhamo]

I wonder how they approved the 2nd time, may be you found a loophole they had no idea about?

What do you mean you requested ICICI to reduce limit? afaik banks don't reduce limit unless they want to. Do you mean decrease limit via imobile/INB website where you can decrease limit? if yes, bank I think will still show your limit as how much max limit they have given you.

I have closed about 8 cards for now, I still have alot more, I do plan to close more. Package doesn't matter, ITR matters, whatever is in the ITR (this includes package, stock profit, income, FD/Savings interest etc).

Will your card be approved? I don't know. I don't know a single person who has been approved for cashback card if they were declined for "overleveraged" reason. So there is a possibility even if you have CL below your ITR declared income, they might still decline as there doesn't exist a single person who has been approved after they have been declined for overleveraged excuse. Also it says "not curable" so not sure if this work. It has 90 says cooldown but I would say just to be on the safe side, make sure you apply after 6 months of your last decline, You might still stand a chance. May be after 6 months and once u file your next ITR. Atleast 2 months after you file your new ITR and total 6 months max.


I have asked for reconsideration, they asked for ITR/Bank statement. Screenshots below. I asked customer service they denied, then nodal declined too, then principal nodal said they will reconsider when they asked for itr/bank statement of 3 months.


View attachment 83302

So I sent them docs 2 days back, and they got back to me today saying this


View attachment 83303

Now, they are saying to wait for 10 days till 19th for an update. I haven't replied to this yet. I will wait. Let's see. I am curious abt one thing, 1st reconsider email, principal nodal said your app no starting with 28....... but in next email when they told me to wait for 10 days, the "app no. via ref no." starts from 13. What is that about? When I track sbi application for reconsider app no. starting 28, it shows declined (which is the previous decline I got), and then the ref no. when I check in track sbi application, it shows the ref no. "You have entered an incorrect application number,Re-enter your application number to track it."

Anyways, I'll wait till 19th-20th may be, if I hear something back, great, if not, then will reply to this email back and see what they say.

I m salaried n hence will itr speak? I will apply again after filing my itr if it's needed to be done so