Anyone got SBI Cashback Credit Card Over Leverage issue fixed? Let's close cards??

[Sobirvs]

Well I was at SBI branch for my savings account and talked to a guy (actually 2 guys, 2 diff brances) and I got something from his phone, it was from his training manual.



Now I have probably ~25 credit cards(some on shared limit). CIBIL report says I have 21 credit cards. How the hell should we fix overleveraged issue fixed? Has anyone been able to do so? I am not asking someone who got declined because of other reasons(like my mom got declined for cashback coz mobile number match - my number is on her INB). I am saying, has anyone able to fix this? Like may be closed some cards or something? If I am let's say file 7L ITR, my alone ICICI and SBI(simplyclick) card limits will be more than my income (5L+3.95L) Does that mean I should close my all other cards and still there is no guarantee I will get cashback card no? I am sure many here have credit cards 10x above their income and still they are able to get cashback card.

Now what about shared cards? for example I have 7 ICICI cards (rupay/coral/rubyx mc-amex/sapphiro mc-amex/apay) but at CIBIL it shows only 2 cards. Probably coz apay and coral are reported and all rubyx/sapp/rupay all are under coral. Strange I though even apay is under my core icici cards but it's not. I used to have same limit with core icici card and apay 3-4 yrs back and now my apay limit is 5L and core card limit is 4.7L. Anyways, my question is if I keep apay and umm coral and close all others, does that mean it will help? ICICI will still report to CIBIL as 2 cards no? So does that mean I should close cards only who are shows as separate??

Damn Amex also report seperately at CIBIL, even kotak too. Why some banks report cards as one and some don't??

Anyways, if someone was able to fix over leveraged issue and how, let me and all of us know?

 

[_deb_]

for me it hasn't yet, just checked.

It will not change because you are reducing the spend limit. This is the restriction that you can set to prevent overspending.
You can’t change credit limit on your own, you instead need to request the bank. The full credit limit is reported to the credit bureaus, not the spend limit.

 

[_deb_]

It will not change because you are reducing the spend limit. This is the restriction that you can set to prevent overspending.
You can’t change credit limit on your own, you instead need to request the bank. The full credit limit is reported to the credit bureaus, not the spend limit.

Here is a post from our CC pundit @SSV 🙂

https://www.technofino.in/community...imit-netbanking-in-icici-cc.14221/post-249098

 

[Sobirvs]

It will not change because you are reducing the spend limit. This is the restriction that you can set to prevent overspending.
You can’t change credit limit on your own, you instead need to request the bank. The full credit limit is reported to the credit bureaus, not the spend limit.

yep, that's what i thought.

Anyways, I feel better option is to cancel cards not reducing limits. I will be doing that on war footing soon. Already closed 6-7 cards.

 

[_deb_]

yep, that's what i thought.

Anyways, I feel better option is to cancel cards not reducing limits. I will be doing that on war footing soon. Already closed 6-7 cards.

I am letting a few cards die naturally 🙂 . I heard that cards are closed if not used for a year. The Paid cards will need special attention.

 

[iamdhamo]

My friend at SBI said your total CL should be 1.5x your total income. Anyways, I have closed few cards, few yet to be closed (reward pts cycle loop lol), and I have plenty of time. I'll wait for like till end of april and then apply.

Cool. Now my total credit limit is less than 1.5x and also will become more less after this year appraisal and hence I think it's good to apply after 90 days n see.

Also there is a bug in my sprint application cos last time it was approved and then blocked by themselves but when I see in sprint it's trying to generate vc card n gets stopped at 99 with error msg to try again later. So if I try again after 90 days I think it will easily generate card again n I think it can go thru same process like now

 

[Sobirvs]

Cool. Now my total credit limit is less than 1.5x and also will become more less after this year appraisal and hence I think it's good to apply after 90 days n see.

again, what the sbi card guy said, it's not confirmed in written format anywhr. I just stated what I was told. Can be 100% wrong, but when u try let me know.

 

[iamdhamo]

again, what the sbi card guy said, it's not confirmed in written format anywhr. I just stated what I was told. Can be 100% wrong, but when u try let me know.

Sure will do. It will take close to three months cos I m thinking to close axis ace card as well which is 1.7L and I m in dilemma to close amazon pay icici and it has 5.8L

If the credit limit is reflected in cibil via icici app then I will not close and I have reduced it to 1.16L from 5.8L

 

[parasf]

Well I was at SBI branch for my savings account and talked to a guy (actually 2 guys, 2 diff brances) and I got something from his phone, it was from his training manual.

View attachment 82172

Now I have probably ~25 credit cards(some on shared limit). CIBIL report says I have 21 credit cards. How the hell should we fix overleveraged issue fixed? Has anyone been able to do so? I am not asking someone who got declined because of other reasons(like my mom got declined for cashback coz mobile number match - my number is on her INB). I am saying, has anyone able to fix this? Like may be closed some cards or something? If I am let's say file 7L ITR, my alone ICICI and SBI(simplyclick) card limits will be more than my income (5L+3.95L) Does that mean I should close my all other cards and still there is no guarantee I will get cashback card no? I am sure many here have credit cards 10x above their income and still they are able to get cashback card.

Now what about shared cards? for example I have 7 ICICI cards (rupay/coral/rubyx mc-amex/sapphiro mc-amex/apay) but at CIBIL it shows only 2 cards. Probably coz apay and coral are reported and all rubyx/sapp/rupay all are under coral. Strange I though even apay is under my core icici cards but it's not. I used to have same limit with core icici card and apay 3-4 yrs back and now my apay limit is 5L and core card limit is 4.7L. Anyways, my question is if I keep apay and umm coral and close all others, does that mean it will help? ICICI will still report to CIBIL as 2 cards no? So does that mean I should close cards only who are shows as separate??

Damn Amex also report seperately at CIBIL, even kotak too. Why some banks report cards as one and some don't??

Anyways, if someone was able to fix over leveraged issue and how, let me and all of us know?

I think leverage is not main reason for rejection of the card

Cause my itr was 3L and my all cards limits were approx 29 lakhs,
Yet my cashback card was approved with limit of 1.05L
(I have simply click card before, it's limit was 77k, when I applied for cashback card)

 

[Sobirvs]

I think leverage is not main reason for rejection of the card

Cause my itr was 3L and my all cards limits were approx 29 lakhs,
Yet my cashback card was approved with limit of 1.05L
(I have simply click card before, it's limit was 77k, when I applied for cashback card)

When you applied for CB Card, you still had simplyclick card at the time?

I have a simplyclick card with limit of 3.94L. I got this card like 5-6 yrs back in a mall via c2c basis. They increased my limit like 3-4 months back when i applied via app for CLE. They even made my sioimplyclick card LTF 2 weeks back as I had enough spends on it.

But omg, cashback card, they just don't freaking budge.

 

[parasf]

When you applied for CB Card, you still had simplyclick card at the time?

I have a simplyclick card with limit of 3.94L. I got this card like 5-6 yrs back in a mall via c2c basis. They increased my limit like 3-4 months back when i applied via app for CLE. They even made my sioimplyclick card LTF 2 weeks back as I had enough spends on it.

But omg, cashback card, they just don't freaking budge.

Yes I hold simply click card when I applied for cashback card
Card got approved 6 months back

 

[hender]

I think leverage is not main reason for rejection of the card

Cause my itr was 3L and my all cards limits were approx 29 lakhs,
Yet my cashback card was approved with limit of 1.05L
(I have simply click card before, it's limit was 77k, when I applied for cashback card)

Do you have SBI Account as well, and while applying, have you mapped that account?

 

[Sobirvs]

Yes I hold simply click card when I applied for cashback card
Card got approved 6 months back

May be SBI's internal parameters had allowed you extra Credit limit increase but you didn't opt for it, hence overleveraged might have not applied to you.

 

[parasf]

Do you have SBI Account as well, and while applying, have you mapped that account?

Yes I have sbi account but with normal balance in lying in account like 5k to 8k
And not mapped account while applying

 

[iamdhamo]

I only have < 2x credit limit combined all cards of my itr but it was rejected. Will try to close more idle cards. Will bring it down below my package n try

I decided not to apply for sbi cashback card as I feel it's not needed since I willl use my wife card ifself and I upgraded idfc card to wealth from select which I had closed.

 

[Dazzwilliams]

Their retail customer profiling system is f*ed up with weird logic systems. I applied for cashback cc in Jan 2023 twice but was rejected. This time my cibil score was NR.

Aftersep 2024 inspite of it showing pre-qualified in netbanking and yono. Got rejected instantly. Note that I don’t hold any other SBI cc. At that time I had Apay 2L, Indus legend 1.8L and Indus Rupay.

Lots of to and fro emails (80 mails) for last 3 months. Got the BM involved and literally troubled him alot but even he couldn’t do anything. He send a screenshot from their cc rep mobile which said decline reason as - Card Type Not Allowed.

I even got a call from someone higher up in sbi cards from delhi. Even he said we cannot help for cashback card in particular as the eligibility+approval is fully automated by the system.

After blasting them left right and centre, Sbicard headoffice guys re-initiated the cashback card application after promising me positive results. But after a week they were like there’s a technical issue and we cannot give you this card.

Fast fwd to Jan, I got a SBI Elite cc with 5L limit. Cashback still remains the ever elusive card.

I just want to highlight the fact that it’s nothing to do with your overleveraged issue. They are dependent on their systems and nothing is gonna happen until someone changes the internal eligibility conditions

 

[Sobirvs]

Their retail customer profiling system is f*ed up with weird logic systems. I applied for cashback cc in Jan 2023 twice but was rejected. This time my cibil score was NR.

Aftersep 2024 inspite of it showing pre-qualified in netbanking and yono. Got rejected instantly. Note that I don’t hold any other SBI cc. At that time I had Apay 2L, Indus legend 1.8L and Indus Rupay.

Lots of to and fro emails (80 mails) for last 3 months. Got the BM involved and literally troubled him alot but even he couldn’t do anything. He send a screenshot from their cc rep mobile which said decline reason as - Card Type Not Allowed.

I even got a call from someone higher up in sbi cards from delhi. Even he said we cannot help for cashback card in particular as the eligibility+approval is fully automated by the system.

After blasting them left right and centre, Sbicard headoffice guys re-initiated the cashback card application after promising me positive results. But after a week they were like there’s a technical issue and we cannot give you this card.

Fast fwd to Jan, I got a SBI Elite cc with 5L limit. Cashback still remains the ever elusive card.

I just want to highlight the fact that it’s nothing to do with your overleveraged issue. They are dependent on their systems and nothing is gonna happen until someone changes the internal eligibility conditions

It is overleveraged issue for me and many others. I personally saw this on sbi agent phone via my PAN number. You issue is not overleveraged though, your issue is prolly income issue as the app clearly says you aren't eligible.

Do you have ITR?
Salary or self employed. ?

 

[Dazzwilliams]

It is overleveraged issue for me and many others. I personally saw this on sbi agent phone via my PAN number. You issue is not overleveraged though, your issue is prolly income issue as the app clearly says you aren't eligible.

Do you have ITR?
Salary or self employed. ?

24L ITR Salaried