Credit card applications are rejected, Did any one faced issue like this ?

[rakee15]

Hi All,


"I have been using credit cards for over 10 years, and currently, I have 10 in my possession. My salary is 12 lakh per annum, and the total credit limit across all my cards is 25 lakhs.

Recently, I applied for two additional credit cards: the SBI Vistara Prime and the HDFC Millennia. Unfortunately, both applications were rejected because I am considered an over-leveraged customer.

Has anyone else faced a similar issue? If so, it seems that the solution may involve closing some of our unused existing credit cards and then applying for new ones. Am I right ?"

 

[s1t2y3a3m6]

Yes you are in right path.

Also you can consider to close shared limit cards or cards that has no benefit to you.

 

[Vasuki]

Hi All,


"I have been using credit cards for over 10 years, and currently, I have 10 in my possession. My salary is 12 lakh per annum, and the total credit limit across all my cards is 25 lakhs.

Recently, I applied for two additional credit cards: the SBI Vistara Prime and the HDFC Millennia. Unfortunately, both applications were rejected because I am considered an over-leveraged customer.

Has anyone else faced a similar issue? If so, it seems that the solution may involve closing some of our unused existing credit cards and then applying for new ones. Am I right ?"

I understand for sbi
For millennia there is age limit I guess
Holy shit if hdfc started playing over- leverage game too 🤣🤣

 

[shivamk]

Yes you are in right path.

Also you can consider to close shared limit cards or cards that has no benefit to you.

Does ICIC also report shared limit cards separately. I have Coral Rupay, Rubyx, Sapphiro (MC+Amex) with 7.5L limit. How much would they be reporting to CIBIL?

 

[s1t2y3a3m6]

Does ICIC also report shared limit cards separately. I have Coral Rupay, Rubyx, Sapphiro (MC+Amex) with 7.5L limit. How much would they be reporting to CIBIL?

For gemstone cards 1 ac

For other co branded cards separate accounts each

 

[shivamk]

For gemstone cards 1 ac

For other co branded cards separate accounts each

Thanks thanks! This helps.

 

[Pack_of_Cards]

Does ICIC also report shared limit cards separately. I have Coral Rupay, Rubyx, Sapphiro (MC+Amex) with 7.5L limit. How much would they be reporting to CIBIL?

Sapphiro 7.5 (MC+Amex), rubyx - 7.5, Coral - 7.5, so total of 7.5+7.5+7.5=22.5L, which is bad.

 

[hema220]

Does ICIC also report shared limit cards separately. I have Coral Rupay, Rubyx, Sapphiro (MC+Amex) with 7.5L limit. How much would they be reporting to CIBIL?

all my card are reporting shared limit separately, hdfc, rbl, yes bank, kotak

 

[shivamk]

Sapphiro 7.5 (MC+Amex), rubyx - 7.5, Coral - 7.5, so total of 7.5+7.5+7.5=22.5L, which is bad.

Now I am confused, @s1t2y3a3m6 says it's common.

Plus if I close Coral and get Rubyx Rupay will it still stay 22.5?

 

[shivamk]

all my card are reporting shared limit separately, hdfc, rbl, yes bank, kotak

Any idea about ICICI?

 

[NOOBY]

Sapphiro 7.5 (MC+Amex), rubyx - 7.5, Coral - 7.5, so total of 7.5+7.5+7.5=22.5L, which is bad.

ICICI adds max 3 credit accounts in cibil

1 - apay
1 - mmt (plat/signature)
1 - all core/gemstone

So, sapphiro+rubyx+coral+platinum will be shown as single account in cibil (i.e. 7.5L)

so, if you have apay+mmt+gemstone card, then what you said would be true

but if only gemstones are present (no apay/mmt), then only 7.5L

 

[hks789]

Now I am confused, @s1t2y3a3m6 says it's common.

Plus if I close Coral and get Rubyx Rupay will it still stay 22.5?

Icici has same credit acc for all core cards.
Just check your credit report and verify yourself.

 

[arun4455]

Any idea about ICICI?

ICICI report the shared limit for each card separately. So eventually the CIBIL would show higher limit against the actual limit. I have apay and sapphiro on shared limit and it is shown separately in cibil.

 

[helloworld]

Does ICIC also report shared limit cards separately. I have Coral Rupay, Rubyx, Sapphiro (MC+Amex) with 7.5L limit. How much would they be reporting to CIBIL?

One account: total credit limit reported by ICICI in this case = 7.5L

Sapphiro 7.5 (MC+Amex), rubyx - 7.5, Coral - 7.5, so total of 7.5+7.5+7.5=22.5L, which is bad.

ICICI gemstone cards all under 1 account, so total 7.5L only.

all my card are reporting shared limit separately, hdfc, rbl, yes bank, kotak

ICICI report the shared limit for each card separately. So eventually the CIBIL would show higher limit against the actual limit. I have apay and sapphiro on shared limit and it is shown separately in cibil.

Number of accounts in Cibil when that person hold multiple cards from same bank

Update - Standard Charted - 1 account for all cards ICICI - 4 accounts (1-Amazon, 1-Gemstone Cards, 1-Cobranded, 1 -Emeralde) AXIS - each card 1 account* SBI - each card 1 account AMEX - each card 1 account BOB - each card 1 account HDFC - each card 1 account RBL - each card 1 account INDUSIND...

www.technofino.in

 

[hks789]

ICICI report the shared limit for each card separately. So eventually the CIBIL would show higher limit against the actual limit. I have apay and sapphiro on shared limit and it is shown separately in cibil.

Amazon is co-branded card thats why its a separate acc.

If you again add multiple core/gem stone cards(rubyx, emerald, coral, platinum etc)
It will come under your existing sapphiro

 

[shivamk]

ICICI adds max 3 credit accounts in cibil

1 - apay
1 - mmt (plat/signature)
1 - all core/gemstone

So, sapphiro+rubyx+coral+platinum will be shown as single account in cibil (i.e. 7.5L)

so, if you have apay+mmt+gemstone card, then what you said would be true

but if only gemstones are present (no apay/mmt), then only 7.5L

Thanks sir

Icici has same credit acc for all core cards.
Just check your credit report and verify yourself.

Yes, waiting for 3 months since card allotment so I was not sure if CIBIL is showing limit for 1 or 3.

ICICI report the shared limit for each card separately. So eventually the CIBIL would show higher limit against the actual limit. I have apay and sapphiro on shared limit and it is shown separately in cibil.

My limit is only shared between gemstone cards. Apay has separate which I am planning to get decreased. So my limit must be gemstone cards limit + apay limit as per explanations above.

 

[shivamk]

One account: total credit limit reported by ICICI in this case = 7.5L



ICICI gemstone cards all under 1 account, so total 7.5L only.

Number of accounts in Cibil when that person hold multiple cards from same bank

Update - Standard Charted - 1 account for all cards ICICI - 4 accounts (1-Amazon, 1-Gemstone Cards, 1-Cobranded, 1 -Emeralde) AXIS - each card 1 account* SBI - each card 1 account AMEX - each card 1 account BOB - each card 1 account HDFC - each card 1 account RBL - each card 1 account INDUSIND...

www.technofino.in

Thanks sir ...

 

[purushotham]

What about Axis ?

I recently took Neo LTF and My zone LTF.

And recently closed Axsi IOCL card

So now 1 account extra or 2 accounts extra in CIBIL

 

[MS R]

What about Axis ?

I recently took Neo LTF and My zone LTF.

And recently closed Axsi IOCL card

So now 1 account extra or 2 accounts extra in CIBIL

2 active / 1 closed account in CIBIL