Am I over leveraged for SBI?

[AlooDum]

Currently I hold close to 10 cards with ITR of 30L & overall credit limit across all the cards 43L.

I don't have any SBI credit card and looking to apply one.

CIBIL of 781 & no defaults.

So my question is am I over leverage according to SBI??

Shall I apply directly or reduce my exposure?

 

[praveensudhakaran]

Please explain HL and pl

HL - HOME LOAN
PL - PERSONAL LOAN

 

[Boy 07]

3X

The reason is IDFC wealth card with 1X of Annual Income as limit. MY EMERGENCY FUND😛😛😛

I have 11 cards with limit 16.88 L utilised 1 % it's being declined by sbi saying that Overlevaged what to do

 

[SSV]

I have 11 cards with limit 16.88 L utilised 1 % it's being declined by sbi saying that Overlevaged what to do

Utilisation is nothing to do with Overleverage.
To reduce your overleverage:
Either
1) Increase your annual income
or
2) Reduce your credit exposure, ie. your total CL

or Both.

All the best

 

[praveensudhakaran]

Utilisation is nothing to do with Overleverage.
To reduce your overleverage:
Either
1) Increase your annual income
or
2) Reduce your credit exposure, ie. your total CL

or Both.

All the best

Exactly, SBI consider the CL for leverage. Not utilization @Boy 07

 

[Boy 07]

Utilisation is nothing to do with Overleverage.
To reduce your overleverage:
Either
1) Increase your annual income
or
2) Reduce your credit exposure, ie. your total CL

or Both.

All the best

It was 22.88 L i reduced it 16 l i am closing the cards which i dont use but in the cibil i am not able to see my income detail and when i appy the sbi card there is no option to fill the income how sbi knows taht what is my annual income ? my annual income is above 6 L

 

[SSV]

It was 22.88 L i reduced it 16 l i am closing the cards which i dont use but in the cibil i am not able to see my income detail and when i appy the sbi card there is no option to fill the income how sbi knows taht what is my annual income ? my annual income is above 6 L

Not all the things in the cibil are shown to customers.
What we see and what the banks see are different to some extent..
We only see subset of what banks can see.
You should reduce your total CL below 10 to 12 L or increase your income beyond 9 L or both.

 

[Boy 07]

Not all the things in the cibil are shown to customers.
What we see and what the banks see are different to some extent..
We only see subset of what banks can see.
You should reduce your total CL below 10 to 12 L or increase your income beyond 9 L or both.

I will try

 

[rogerthat]

So SBI wants to give cards only to people who have no other cards or loans? Not a great business model. Looks like they will learn when they stop growing in acquisitions and share price tanks.

So, this is exactly what happened (market share and share price tanking)! Will they learn or not is another matter.

All's not well with SBI Card: Here's why profits and market share are falling - CNBC TV18

SBI Card is facing mounting challenges as profits drop, and market share shrinks. Regulatory pressures, rising credit costs, and shifting consumer trends are squeezing India’s second-largest credit card issuer.

www.cnbctv18.com