Search results for query: over leverage

When I applied for 2nd card live+ I had 19 cards.

I don't have any SBI CC now, only home loan with SBI and saving bank account which I opened for getting Home loan. What is over leverage thing? Is it having multiple credit cards from different banks?

Over leverage applies not only to salaried. I don't think he has much cards to reject on overleverage. His profile is good ajd he applied online with vkyc. No need to verify physically. So approved in a day

Do you have an SBI savings account? Some people say, If you have a SBI savings account they ignore this over-leverage thing. Is it true? Any idea?

I have a joint housing loan with my sister.

No it's pointless doing that. I went through all that. Spent a lot of time and effort closing cards and reducing CL but still over leveraged. If at all you have more than even one credit card SBI will consider you over-leveraged.

You can search this forum for "over leveraged". I will refer here one of recent discussion https://www.technofino.in/community/threads/am-i-over-leveraged-for-sbi.27865

Not worth trying the efforts, anyways I strictly avoid perwi thing, it's like ahsaan which people ask in return later, no thanks, if through proper channels and escalation matrix it works then it's good for the applicants

I have around 8 cards right now But no loan and good cibil. So how to guess whether it is over leveraged or not?

Don't understand how they fulfill their targets , when they decline application saying "Over-leveraged". SBI cards should change their policy!!

With ICICI bank CCs, you have the option to reduce the credit limit to 10% of max credit limit. For OP, he can reduce it to 1 lac (approximately) if he wishes so in the future. Then, after a few months / years, he can increase again to 9 lakh. It takes upto 90 days to see the change in credit...

Home loan may not be a problem. I too have one.

Got the reason they're Saying due over leverage Cashback CC got declined any trick to Approve?

Not over leveraged and live in Bangalore city. I have may be 6-7 cards in which use only 3 cards.

Sorry for the delayed response. I do have 14 credit cards in total with an total credit limit of over 14 lakhs.

I m one of that type

Age shouldn't be an issue. But looking at other posts it seems like over leveraging is the issue in my case.

If you already had cards from 6-8 banks, probably, you are over leveraged (as per SBI standards). What's your ITR income figure ? And, what's the total of all your limits of all your existing cards ?

Don't they get to know that one is over leveraged by checking the CIBIL manually?

Over leverage hone pe card nahi milta . Per txn to ker hi skte ho.