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?

 

[Dr.Anand456Dr.Anand456 is verified member.]

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?

The only solution to this is to increase your income. There is no other option. That’s why it is said that when banks repeatedly offer to increase your credit limit, you shouldn’t always accept it unnecessarily.

Banks like Kotak, HDFC, and ICICI can easily increase your credit limit to over ₹10 lakh over time, even though your income and repayment capacity don’t grow at the same rate. And this issue is no longer limited to SBI; gradually, almost all banks are adopting this approach, especially when issuing new credit cards.

Generally, there are no issues with the credit limit on existing cards, but getting new cards has become more difficult. Even when approved, they come with a lower limit. The maximum credit limit you can get is usually 10 times your income. You can either take it on a single card from one bank or split it across multiple cards from different banks—it’s up to you.

Many people feel excited when their credit card limit reaches ₹15-20 lakh, even though they might never use that much credit in their lifetime. Eventually, they just keep those high-limit cards without any real benefit. Later, when they apply for a card from banks like SBI, their application gets directly declined because they have already taken on a credit limit far exceeding their income.

 

[aniketkr.sharma]

how long u waited btw after 1st rejection? and did u got approved in 2nd attempt?

See the card was launched in August and I applied in September. Got rejected then in September also got hdfc card so didn't applied as hdfc card was sufficient for needs then heard of tata neu launch and then my chutiya RM Let me closed my hdfc card having limit of 3 lacs that time for getting core card then waited for 3 month and applied for tata neu with my secondary number as rm was unable to provide me core cards with my primary number. Then I also applied for sbi cashback and it also went approved. Sadly got tata neu plus with 1.5 lakhs limit

 

[Fini7777]

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?

My mom was able to get her sbi cashback card in 1st attempt

She already hold around 12 cards and can be considered as over leveraged
She already has simplyclick with 2.2L limit and save with 40k limit

I applied cashback card for her via their website the application took around 15 days and received a call to split the limit with simplyclick
I agreed and 1 L was allocated to cashback card and card approved

This was happened recently
I assume that the card was approved bcoz she is already holding simplyclick and save cards with sbi

 

[Sobirvs]

The only solution to this is to increase your income. There is no other option. That’s why it is said that when banks repeatedly offer to increase your credit limit, you shouldn’t always accept it unnecessarily.

Banks like Kotak, HDFC, and ICICI can easily increase your credit limit to over ₹10 lakh over time, even though your income and repayment capacity don’t grow at the same rate. And this issue is no longer limited to SBI; gradually, almost all banks are adopting this approach, especially when issuing new credit cards.

Generally, there are no issues with the credit limit on existing cards, but getting new cards has become more difficult. Even when approved, they come with a lower limit. The maximum credit limit you can get is usually 10 times your income. You can either take it on a single card from one bank or split it across multiple cards from different banks—it’s up to you.

Many people feel excited when their credit card limit reaches ₹15-20 lakh, even though they might never use that much credit in their lifetime. Eventually, they just keep those high-limit cards without any real benefit. Later, when they apply for a card from banks like SBI, their application gets directly declined because they have already taken on a credit limit far exceeding their income.

Problem is, this applies to only and only SBI. No other bank declines coz of this issue.

Also, when my cashback declined, SBI even called me and offered any other card even elite, branch guy even checked for elite card for me and I got it delivered but I didn't activate for a month and card got turned off in 1-2 months... So this basically is JUST AND JUST got cashback card. This really really sucks.

 

[Sobirvs]

See the card was launched in August and I applied in September. Got rejected then in September also got hdfc card so didn't applied as hdfc card was sufficient for needs then heard of tata neu launch and then my chutiya RM Let me closed my hdfc card having limit of 3 lacs that time for getting core card then waited for 3 month and applied for tata neu with my secondary number as rm was unable to provide me core cards with my primary number. Then I also applied for sbi cashback and it also went approved. Sadly got tata neu plus with 1.5 lakhs limit

Btw HDFC considers tata neu as their core card nowadays afaik.

 

[Sobirvs]

My mom was able to get her sbi cashback card in 1st attempt

She already hold around 12 cards and can be considered as over leveraged
She already has simplyclick with 2.2L limit and save with 40k limit

I applied cashback card for her via their website the application took around 15 days and received a call to split the limit with simplyclick
I agreed and 1 L was allocated to cashback card and card approved

This was happened recently
I assume that the card was approved bcoz she is already holding simplyclick and save cards with sbi

btw your mom can transfer the limit from her simply clikc to cashback. Like you can call CC and ask for umm, 70-80% limit if you wish.

 

[aniketkr.sharma]

Btw HDFC considers tata neu as their core card nowadays afaik.

No that post was wrong

 

[Credit_Cards]

Btw HDFC considers tata neu as their core card nowadays afaik.

But there is no written confirmation fro them yet

 

[Sobirvs]

No that post was wrong

I have heard people upgrading their neu card to some other high variant card, even infinia. No co-branded card can be upgraded from hdfc or any other bank. Isn't that correct?

 

[aniketkr.sharma]

I have heard people upgrading their neu card to some other high variant card, even infinia. No co-branded card can be upgraded from hdfc or any other bank. Isn't that correct?

Nope, its random, but from October they aren't upgrading tata neu to infinia

 

[Fini7777]

Nope, its random, but from October they aren't upgrading tata neu to infinia

No, they agreed to upgrade my TNI to millennia fyf but I didn't take it

 

[SSV]

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?

there are three ways to reduce over leverage situation:
1) Incoreas your annual income
2) reduce your total unsecured credit limits ( including PLs).
3) Both of the above ..

all the best !!

 

[Sobirvs]

there are three ways to reduce over leverage situation:
1) Incoreas your annual income
2) reduce your total unsecured credit limits ( including PLs).
3) Both of the above ..

all the best !!

Increasing incoming defeats the purpose of CC's as we get cc's for savings, and my income I have split it with kinda family (it's not illegal if done right), my income is anyways high but i lower it with splitting (won't say more as it's borderline legal).

2. we can lower the limits btw?? can i like call icici tomorrow and ask for lowering the limit and they will do it? or do u mean like card control and reducing limit like that?

3. What u mean by PL? Personal loan? I haven't taken any.

 

[SreeU]

yep. They do.

Just now I have applied for CB from my salary net banking & virtual card also generated instantly within 5 minutes. No EKyc. Have to check CL.

 

[SSV]

Increasing incoming defeats the purpose of CC's as we get cc's for savings, and my income I have split it with kinda family (it's not illegal if done right), my income is anyways high but i lower it with splitting (won't say more as it's borderline legal).

2. we can lower the limits btw?? can i like call icici tomorrow and ask for lowering the limit and they will do it? or do u mean like card control and reducing limit like that?

3. What u mean by PL? Personal loan? I haven't taken any.

do whatever it takes to reduce the total CL reported in cibil for all unsecured loans including personal loans..
At the end what it matters is : your total reported CL in cibil in this regard

 

[Sobirvs]

Just now I have applied for CB from my salary net banking & virtual card also generated instantly within 5 minutes. No EKyc. Have to check CL.

yep, my SIL also got it instantly. How many cc's you have according to CIBIL and income/CL ratio?

 

[Sobirvs]

do whatever it takes to reduce the total CL reported in cibil for all unsecured loans including personal loans..
At the end what it matters is : your total reported CL in cibil in this regard

Yep, doing. Already making list which card to close and cross checking with CIBIL. Btw you had or someone else a threat on CIBIL reporting right? can u link it to me here?

Speaking of which, isn't CIBIL a pain with logins, like every damn time this thing asks for OTP even if I select remember this device.

 

[SSV]

Yep, doing. Already making list which card to close and cross checking with CIBIL. Btw you had or someone else a threat on CIBIL reporting right? can u link it to me here?

Speaking of which, isn't CIBIL a pain with logins, like every damn time this thing asks for OTP even if I select remember this device.

Do you mean this?

Thread 'CIBIL Score - A Practical Guide' https://www.technofino.in/community/threads/cibil-score-a-practical-guide.29167/

 

[Pradumya]

Btw you had or someone else a threat on CIBIL reporting right? can u link it to me here?

Guys,
We already know that the new norms of cibil reporting comes into place w.e.f 1 Jan 2025.
As per the new rules ,the banks and other financial institutions should report outstanding balances of loans and credit card accounts atleast every fortnight. In this regard some banks adopted fortnightly and some adopted weekly reporting.
Let's collate the list of various banks with their frequency of reporting here in this thread..
The following is the list of Banks with their respective frequency and reporting dates in a month:
We will add more banks to this list as and when the information is available...

Weekly ( Four times, a month)

1. HDFC
   • 7th
   • 15th
   • 22nd
   • 30/31st ( ie month end)

Fortnightly ( Two times, a month )

1. Statement Date and Statement Date + 15 days
   • Amex
   • 
     
2. 15th and month end ( 30/31)
   • Axis
   • BOB Cards
   • Yes Bank
   • SBM Bank
   • Kotak
   • IndusInd
   • RBL
   • Indian Bank(One card)
   • Federal bank
   • AU

Here you go.

 

[SSV]

Yep, doing. Already making list which card to close and cross checking with CIBIL. Btw you had or someone else a threat on CIBIL reporting right? can u link it to me here?

Speaking of which, isn't CIBIL a pain with logins, like every damn time this thing asks for OTP even if I select remember this device.

Do you mean this?

Thread 'CIBIL Score - A Practical Guide' https://www.technofino.in/community/threads/cibil-score-a-practical-guide.29167/

Here you go.

Or this??
Thread 'New CIBIL reporting frequencies of various banks from Jan 2025' https://www.technofino.in/community...uencies-of-various-banks-from-jan-2025.35804/