Getting SBI card after overleverage possible?

[arun4455]

I have applied for SBI Octane card, however, the bank reject the application everytime. I have CIBIL of 800+ and decent income. When I approached the RBI Ombudsman to know the reason, I get to know that the cards are being rejected due to overleverage as I have few cards with very good limits.

Is there any way to get the Octane card? Currently I have simplyclick and CB card from SBI, they have rejected the Simplyclick to Octane upgrade also.

 

[Deleted member 11974]

deleverage yourself or increase your income

 

[SSV]

I have applied for SBI Octane card, however, the bank reject the application everytime. I have CIBIL of 800+ and decent income. When I approached the RBI Ombudsman to know the reason, I get to know that the cards are being rejected due to overleverage as I have few cards with very good limits.

Is there any way to get the Octane card? Currently I have simplyclick and CB card from SBI, they have rejected the Simplyclick to Octane upgrade also.

1) close unnecessary scrap cards
2) reduce the CLs on the existing CCs in their respective Apps
3) Increase your income
Get them reflected in CIBIL and try your luck

 

[arun4455]

Problem is: I have 3 cards from ICICI bank on limit sharing. All cards show higher limit in CIBIL. Similar case with HDFC bank.

 

[Deleted member 11974]

close cards you dont need and ask icici to report accordinly

 

[SSV]

Problem is: I have 3 cards from ICICI bank on limit sharing. All cards show higher limit in CIBIL. Similar case with HDFC bank.

In iMobile you can reduce CL on your cards. It will report the new CL in 2 months time

 

[arun4455]

Do anyone have idea what's their expectation/ ratio of income vs existing card limit?

 

[Md Kaif]

I applied for a Reliance SBI Card on 3rd May through Sprint. The application was stuck for over a month and finally on 8th June it was rejected citing overleveaged as reason. (I already hold a SBI CB card with 68k limit)

I needed a second SBI card as bank discount's doesn't apply on CB card. So I started to close unused cards -- closed my IDFC Power+ card (limit: 1.95lakh), closed my Axis FK card (limit: 45k) and reduced Kotak Myntra card's limit from 2.49lakh to 40k through the app.

After all changes reflected in CIBIL, again on 3rd Aug I applied for SBI BPCL Octane card through an agent on c2c basis using my AMEX Plat. travel card having a limit of 3.56lakhs. Completed KYC & 1st verification call on 3rd Aug itself. Was eagerly waiting for the 2nd call from Gurgaon. Today morning received a call from Gujarat (265) which seemed to be the call I was waiting for! I was asked to verify my residence & office address after which agent said verification is successful. And Voilà, card got approved today evening 😁

Edit: card approved with a limit of 46k only

 

[ENIAC]

In iMobile you can reduce CL on your cards. It will report the new CL in 2 months time

This doesnot work bro, I have kept 10% of the limit but still it shows full in CIBIL

 

[SSV]

This doesnot work bro, I have kept 10% of the limit but still it shows full in CIBIL

I read mixed opinions in this forum about this change in iMoble app getting reflected in the CIBIL..
DId you wait long enough to determine that it was not working?
WHen did you change this limit to 10%? and what was the last reported month in your CIBIL for ICICI cards. how many card do you have?

 

[Md Kaif]

This doesnot work bro, I have kept 10% of the limit but still it shows full in CIBIL

Changing the spend limit through iMobile app doesn't affect the credit limit in CIBIL. To effect limit changes in CIBIL u will have to go to netbanking & actual/literally decrease your credit limit through OTP authentication. After this in iMobile it will show u your decreased limit and your actual limit as limit increase offer

 

[SSV]

Changing the spend limit through iMobile app does affect the credit limit in CIBIL. To effect limit changes in CIBIL u will have to go to netbanking & actual/literally decrease your credit limit through OTP authentication. After this in iMobile it will show u your decreased limit and your actual limit as limit increase offer

Excellent..
I think you only mentioned about this thing works before somewhere in the other thread.. thanks for the detailed information though..
Will be helpful for others who are looking for this ..

 

[Shin-Chan]

Changing the spend limit through iMobile app does affect the credit limit in CIBIL. To effect limit changes in CIBIL u will have to go to netbanking & actual/literally decrease your credit limit through OTP authentication. After this in iMobile it will show u your decreased limit and your actual limit as limit increase offer

This is something new I learnt today !!

 

[mayankcse10]

Changing the spend limit through iMobile app does affect the credit limit in CIBIL. To effect limit changes in CIBIL u will have to go to netbanking & actual/literally decrease your credit limit through OTP authentication. After this in iMobile it will show u your decreased limit and your actual limit as limit increase offer

I think you mean through iMobile does not affect the credit limit in CIBIL, right? I did the same, and it was not reflected in CIBIL. I decreased the limit by calling customer care. I see the same update as you; I am just waiting for the CIBIL to be updated. But it's certainly good that ICICI leaves us with the option to increase the limit again to the original limit.

 

[Md Kaif]

I think you mean through iMobile does not affect the credit limit in CIBIL, right? I did the same, and it was not reflected in CIBIL. I decreased the limit by calling customer care. I see the same update as you; I am just waiting for the CIBIL to be updated. But it's certainly good that ICICI leaves us with the option to increase the limit again to the original limit.

Yes
Sorry, did the correction in my post
Btw how many days ago did u update ur limit? ICICI takes nearly 2-3months to update information in cibil

 

[Md Kaif]

Excellent..
I think you only mentioned about this thing works before somewhere in the other thread.. thanks for the detailed information though..
Will be helpful for others who are looking for this ..

U might have mistaken me with somebody else. This is the first time I am writing about this

 

[SSV]

This is something new I learnt today !!

I think you mean through iMobile does not affect the credit limit in CIBIL, right? I did the same, and it was not reflected in CIBIL. I decreased the limit by calling customer care. I see the same update as you; I am just waiting for the CIBIL to be updated. But it's certainly good that ICICI leaves us with the option to increase the limit again to the original limit.

Yes, ICICI mantains : "Santioned Limit" and "desired Spend Limit" as two dirrerent limits and allows us to shift between these two..

But I suspect , if we keep the spend limit too low for too longer time, it may revise the new sanctioned limit to the lower limit at some point of time.. hence need to maintain caution..

This is just my guess.

 

[Ak Singh]

I think you mean through iMobile does not affect the credit limit in CIBIL, right? I did the same, and it was not reflected in CIBIL. I decreased the limit by calling customer care. I see the same update as you; I am just waiting for the CIBIL to be updated. But it's certainly good that ICICI leaves us with the option to increase the limit again to the original limit.

Means we can again increase limit in future as well? Will they not remove extra limit ?

 

[SSV]

U might have mistake me with somebody else. This is the first time I am writing regarding this

okay.. too many posts and too much inforabout too many products.. but I am sure someone else mentioned this before..

and also a few others mentioned it as it didn't work..
It is all about how we made this change that matters, because the data item that is displayed to us may be diffrerent to the data item that is reported to CIBIL..

so we need to make sure the limit is changed at the right place..

for this we need someone who did it.. I never changed it myself.. hence can't comment with confidence..

 

[mayankcse10]

Means we can again increase limit in future as well? Will they not remove extra limit ?

Yes, it definitely looks that way, but I have not done that yet. I have also attached the screenshot. The limit shown, as offered, is my previous limit before decreasing.