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?

 

[Sobirvs]

I've escalated to axis pno as they also are reporting common shared limit of three cards as separate limit of each card. They are just talking non sense and not resolving it. I'm going to escalate to rbio next. Only icici somewhat does it partially right

does this mean there is no point in close cards which are reported only once at cibil like my rupay, coral, sapphiro mc/amex, rubyx amex/mc i should keep them if i plan to keep even one of these cards atleast?

also is adani card is reported separately to CIBIL??

 

[jack333]

does this mean there is no point in close cards which are reported only once at cibil like my rupay, coral, sapphiro mc/amex, rubyx amex/mc i should keep them if i plan to keep even one of these cards atleast?

also is adani card is reported separately to CIBIL??

No need to close icici or any other card. For icici keep the limit same for your main account which has max no of cards. For other accounts containing cards which you don't use decrease the credit limit to minimum and they will report to cibil. For other banks escalate to rbi ombudsman if they are reporting shared limit as separate limit of each card.

 

[Credit_Cards]

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.

Congratulations . .

 

[Credit_Cards]

No need to close icici or any other card. For icici keep the limit same for your main account which has max no of cards. For other accounts containing cards which you don't use decrease the credit limit to minimum and they will report to cibil. For other banks escalate to rbi ombudsman if they are reporting shared limit as separate limit of each card.

Axis and HDFC reports all cards separately so raising with RBI will force them to report only 1 card account ?

 

[jack333]

Axis and HDFC reports all cards separately so raising with RBI will force them to report only 1 card account ?

Ideally they should report only one credit account like icici. Kotak gives separate limit to each card I think

 

[Credit_Cards]

Ideally they should report only one credit account like icici. Kotak gives separate limit to each card I think

honestly RBI is at fault, they shall have guidlines to be followed by all banks

 

[Sobirvs]

Ideally they should report only one credit account like icici. Kotak gives separate limit to each card I think

I have 3 kotak cards. Urbane/Myntra/rupay.

Urbane/myntra are reporting 4.5L limit
Rupay is reporting 2.85L limit

all are reporting it separately. I have never seen/heard the case where a bank changed the way they report to cibil (as one account for all cards) even if complained to RBI Ombudsman.

 

[popkorn]

already having 25 & still in need of one more ? . ENJOY . Beware of negatives .

 

[Sobirvs]

Ideally they should report only one credit account like icici. Kotak gives separate limit to each card I think

icici also reports seperately sometimes.

Like apay card is reported seperately. Times black card is also reported seperately, adani card is also reported seperately.

 

[Sobirvs]

already having 25 & still in need of one more ? . ENJOY . Beware of negatives .

No, I'll be closing most of my cards now.

 

[Credit_Cards]

icici also reports seperately sometimes.

Like apay card is reported seperately. Times black card is also reported seperately, adani card is also reported seperately.

they club gem cards as one and others as individual mostly

 

[TCxBlade]

No, I'll be closing most of my cards now.

Can you please share the list of cards you hold, and which card you will close .

 

[Sobirvs]

Can you please share the list of cards you hold, and which card you will close .

Closed / Request in process
Onecard 3.42L
RBL shoprite 57k
HDFC Tataneu Infinity3.45L
ICICI Apay 5L

Will close :
IndusInd Eazydiner 2.5L
IDFC Wealth 5.14L
Axis My zone 4.65L
Axis FK 4.65L
Kotak Myntra 4.65L
Kotak Rupay 2.85L

Might close :
IndusInd legend Signature 3.5L
Amex Gold Charge (??)
HDFC Swiggy 3.45L
IDFC wealth 5.14L

Won't close :
Kiwi Yesbank 3L
HDFC Millennia 3.45L
RBL IOCL 53k
SBI Simplyclick 3.94L
Axis Citi rewards 4.65L
Kotak Urbane 4.65L
Amex Gold 1.89L
ICICI Gemstone cards 4.7L

My goals are basically 3 cards only for now. Infinia, SBI Cashback, HSBC(Self employed BS). I know even after closing so many cards, it won't make me less overleveraged but I will see what to do in near future. For now, this is how much I am thinking to do.

 

[PKR1]

Luckily I had applied for SBI Simplyclick when I had around 12-14 cards, now I also have 20+ cards in my portfolio and recently they declined my application for SBI Tata Star Platinum card bcz of the same over leveraged reason. After that I got HDFC Neu Infinity, Axis Airtel, HSBC LIV+ cards approved, seems mostly it's the issue with SBI, but for sure it forced me to think to take only those cards which r absolutely needed

 

[Nishan11]

This over leverage thing is crap. My first credit card is simplyclick.

Later on I took many other bank card which made me over leveraged for second sbi card. I was trying for vistara that time. And my application was rejected.
Contacted with BM & Regional head to connect with SBI card team and get approval. Put pressure on them through known channels.

Additionally, My salary account is with SBI Bank only. Card got approved in 5-6 days.

Last month I closed vistara card & keeping SimplyClick.

 

[PKR1]

This over leverage thing is crap. My first credit card is simplyclick.

Later on I took many other bank card which made me over leveraged for second sbi card. I was trying for vistara that time. And my application was rejected.
Contacted with BM & Regional head to connect with SBI card team and get approval. Put pressure on them through known channels.

Additionally, My salary account is with SBI Bank only. Card got approved in 5-6 days.

Last month I closed vistara card & keeping SimplyClick.

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

 

[leonneel]

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.

This information is wrong..I am at this stage where every other cc I apply gets rejected. I got like 20+ different banks card and I don't file itr. Only cards they approve are FD based cards. Recently applied using fd bob eterna. Previous AU cc rejected for being over leveraged. Later got as pre approved from bank acct app. Hsbc also rejected for same reason and would have got fd based hsbc but hsbc don't give fd based cards...that is the only card now that I really want but can't get.

 

[leonneel]

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

Again wrong info, only card they consider core card, or that works for online discount offers are the IOCL card and.....don't remember but definitely don't give discount on Tata neu card.

 

[starboard]

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'm on the same boat as you. I've closed 3 SBI Cards around 2 years back(FBB, IRCTC, MAX). I hold only CB card now and I applied Simply Click. Application was rejected and I visited branch and the rep told me you have 4 cards 'generated' on your name. Please come after 1 month, we will try to get through this. So wait for a month and apply offline through rep.

 

[Sobirvs]

I'm on the same boat as you. I've closed 3 SBI Cards around 2 years back(FBB, IRCTC, MAX). I hold only CB card now and I applied Simply Click. Application was rejected and I visited branch and the rep told me you have 4 cards 'generated' on your name. Please come after 1 month, we will try to get through this. So wait for a month and apply offline through rep.

My main issue is, even if we close cards, is "overleveraged" fixable issue? On his phone/manual it shows "not curable", what does that even mean?