Search results for query: over leverage

Not true. I have SB accounts n CA as well. Still, no option for LE.

Guys I have simplyclick card with 1.25L limit. I want bpcl octance card. Applied multiple times from sbi website sprint but rejected due to over leverage. Also have an rupay bpcl offer in sbi card app. Should I take it and request for an upgrade? Or what to do

The effect on your credit score should be positive as your limit increases and in turn lower utilization ratio. But another problem I heard is over-leverage. Total reported unsecured debt exposure should be less than 2-3x net annual income otherwise it might impact future debt needs due to...

I'm in the same boat !!

I have already activated it. Since we have strong enough proof I think there shouldn't be a problem.

So they declined mine stating "Internal Policy"

ahh okay, if they check the card leverage. That might be the reason. I have 15+ credit cards. I don’t use most of them. Just keeping them for online offers. Overall utilised limit is always less than 10% with 100% payments on time till date

I have 5 Axis card ( 3 Axis + 2 citi converted Axis) but never had any relationship with Yes Bank before.

I tried this, didn't work. Reduced the combined credit limit from 60L to around 23L by closing cards which is less than my total annual income and am still over leveraged according to them. 18 years credit history with ironically SBI Card being my oldest card.

Mai saal bhar ke liye free ho gaya hun… Over leverage on all cards…

That's true. SBI is ready to flip my existing card to these cards, but not octane. very strange policy. I have no payment delay. Have 800+ CIBIL and 1% usage as per CIBIL across all credit cards.

After all it's SBI..... Will keep you guys updated fingers crossed

For Apay card, please don't approach any one offline. Please apply from Amazon app online. If your profile isn't bad mostly you will get approved.

I am surprised that even in this condition SBI Card is a major credit card provider in India

I have 11 cards with limit 14.88 L sbi rejecting my cards by saying over leverage not able to understand what should I do ????

Their system rejected you. Try via branch

I have asked this same question multiple times in this forum and nobody was able to answer. SBI Card does not collect income documents rduring application. And they apparently don't consider income details appearing in the credit reports too. Then on what basis do they determine over leverage??

Bhai generic reason "Internal policy criteria meet ni kar raha hu me" aisa bol rahe hain ye log.

Might have missed your previous post. Did you complete any KYC?

...give a FCUK... I am actually kind of okay, as HDFC is reporting 2 times 8L my CL to CIBIL.. If they accepted this Swiggy card it will be 3 times 8L CL ie 24L on HDFC cards alone.. I am already over leveraged.. this will take me to over over leveraged… hence I didn’t follow it up with them…...