Am I over-leveraged for SBI Cashback card?

[helloworld]

after you receive sbi cb, don't activate it. Send your salary slip & amex cc statement. 20k is practically unusable. If you want to keep individual utilization under 30%, then it gives you only 6k which not enough for even monthly grocery.

as you long as you pay ontime, u can use 100%. rest won't affect, there are other cards lying idle to contribute that gap.

 

[Trump]

as you long as you pay ontime, u can use 100%. rest won't affect, there are other cards lying idle to contribute that gap.

Tbh at this point I'm grateful enough to see the card getting approved. I read a thread where @D₹V ig if I'm not wrong got cb at 15k limit

 

[Vasuki]

UPDATE: The Apay rejection reason says -

• Rejected due to insufficient/adverse of credit history being less than required policy norms

Firstly they fetched EQUIFAX credit report & not CIBIL which is mostly irrelevant and inaccurate IMO. So I sent an email for reconsideration of my application wherein I attached my CIBIL Report & explained my case. CIBIL - 779, credit age - 2y 8m, no defaults whatsoever. I sent e-mail to girish.sehgal@icicibank.com, sandeep.bakshi@icicibank.com, anish.madhavan@icicibank.com, managingdirector@icicibank.com, senior.management@icicibank.com, headservicequality@icicibank.com, pno@icicibank.com & headcreditcards@icicibank.com.

I have not received a single auto reply acknowledgment e-mail. Sent the same e-mail two times more yet no auto reply acknowledgment e-mail, which forces me to think whether or not they have actually received the e-mail. I'm quite worried. Please help me figure out if there's anything more I can do?? @Vasuki

What's the age of your oldest active credit card
Not age of cibil

 

[Trump]

What's the age of your oldest active credit card
Not age of cibil

Since May 2022 - HDFC cc

 

[helloworld]

Tbh at this point I'm grateful enough to see the card getting approved. I read a thread where @D₹V ig if I'm not wrong got cb at 15k limit

Absolutely, use it fully if required but be mind that 'pay on time and never miss single payment' that is the only concern you have to keep on reminding yourself.

Btw, Congrats

 

[sidp]

Send where? Why not activate it ? What if i don't activate within 30 days 🥲🥲🥲

To sbi cc . Tell them that 20k cl is unusable & you won't activate such cc. Sending your amex statement and your salary slip will show that they've offered you less cl than you deserve. Mail them right away.

 

[sidp]

as you long as you pay ontime, u can use 100%. rest won't affect, there are other cards lying idle to contribute that gap.

No one know exact cibil algo as they tend to tweek it frequently.
Many people have hampered their score bt using cl of a single cc fully & not paying it back before bill generation.
I try to keep utilization of each cc below 25% by partially paying the due before bill generation.
Cc main advantage is free credit period, so decent cl is very important.

 

[samm255]

SBI Cards works very miraculously. They rejected my second card application when I applied for bank instant discount while on the other hand they made my SBI CB card LTF without any fuss.

 

[helloworld]

single cc fully & not paying it back before bill generation.

this is the major factor, always and all the time.

And >750 more than sufficient to get best in class interest rates w/ solid credit history (>3Y). Moreover income is high priority to avail credit card or loan finally.

 

[D₹V]

So I'll be applying for SBI Cashback & A-Pay this Wednesday as soon as I turn 21. So Can you guys look into my case & give me a reality check???

Portfolio

1) AMEX - SmartEarn (Paid) - Rs. 1,62,000.
2) Axis Bank - Neo (LTF) - Rs. 1,34,000.
3) HDFC Bank- Millennia (Paid) + Swiggy (Paid) - Rs. 1,00,000 each.
4) Kotak Mahindra Bank - Zen Signature (LTF) - Rs. 35,000 + Myntra (Paid) - Rs. 27,000

CIBIL - 779
Credit Age - 2y 8m
Income - Take Home Salary - 70k approx.

I already have an account with ICICI under their Privilege program since the last year, I have an SBI Gold Segment Profile. What are the chances of approval & which one should I apply first ??? Throw in any other suggestions, if necessary.

@Vasuki @SSV @D₹V @Abhishek012

Anything below 10 card account is not over leveraged for SBI as per my research/observation.

BTW congratulations for the SBI cashback card.

Now before acquiring 10th card, apply SBI simply click or any other SBI card to get discount offers in sales. Later you can't get it (unless it's pre approved within the app).

And ICICI is notorious, can keep rejecting unnecessarily.