Doubts about splitting the limit between sbi cards

[echolima]

I have a sbi cashback card with 4lakhs limit and have been offered the sbi simplysave cc with fyf.

Now sbi is asking me to split my limit between the 2 cards with no option of changing it in the future.

As the cashback card has the cashback limit of 5k per month which translates into 1lakh total spend in a month.

My avg spend on this card have been a max of 50k in a month.

I want to know if allocating 1lakh limit to the cashback card a good choice.

Also is there a way to change the limit distribution in the future?

 

[tachniki]

You will be able to change limit in future.

Also, which card do you expect to use more? If I have been you, my expense on cashback card will be more. I would have chosen 3L limit for cashback and 1 L limit for simplisave. This will ensure my spend on cashback will be less than 30%.

 

[akshayhs]

You will be able to change limit in future.

Also, which card do you expect to use more? If I have been you, my expense on cashback card will be more. I would have chosen 3L limit for cashback and 1 L limit for simplisave. This will ensure my spend on cashback will be less than 30%.

I don't recommend this because cashback limit for month is 5k which he should be able to meet given the 150k limit. Since the cashback is not eligible for instant discounts, it's better to allocate rest of the limit to the other card as he has done currently.

 

[Dreams Of Desire 💓]

 

[echolima]

You will be able to change limit in future.

Also, which card do you expect to use more? If I have been you, my expense on cashback card will be more. I would have chosen 3L limit for cashback and 1 L limit for simplisave. This will ensure my spend on cashback will be less than 30%.

But it says in the screenshot that "i wont be able to change the limit allocation later"

The cashback card dosent make sense for spendings above 1 lakhs and for the past year my usage for the cashback card has been max of 50k. And as the cashback card isnt eligible for online/offline sales i predict using the simplysave for higher spends during sales.

For eg. if I allocate 1lakh limit to the cashback card and spend 50k in month will it be considered 50% limit use in cibil and affect my score in a negative way or will it be calculated from the total limit of 4 lakhs?

 

[echolima]

I don't recommend this because cashback limit for month is 5k which he should be able to meet given the 150k limit. Since the cashback is not eligible for instant discounts, it's better to allocate rest of the limit to the other card as he has done currently.

Yes, that was my thinking for splitting the limit this way since i predict using the simplysave more on online/offline sales for which simplysave will be eligible for.

For eg. if I allocate 1lakh limit to the cashback card and spend 50k in month will it be considered 50% limit use in cibil and affect my score in a negative way or will it be calculated from the total limit of 4 lakhs?

 

[tachniki]

allocate 1lakh limit to the cashback card and spend 50k in month will it be considered 50% limit use in cibil and affect my score in a negative way or will it be calculated from the total limit of 4 lakhs?

It will have impact. Better to keep utilization below 30% or lower.

 

[hellowo₹ld]

2 cashback
2 simplysave

 

[hellowo₹ld]

For eg. if I allocate 1lakh limit to the cashback card and spend 50k in month will it be considered 50% limit use in cibil and affect my score in a negative way or will it be calculated from the total limit of 4 lakhs?

It will have impact. Better to keep utilization below 30% or lower.

Once in a time, no issue even for 100%. Its only problem if this continues every month which unlikely in this scenario.

to avoid major impact in score: always pay full ontime.

 

[echolima]

2 cashback
2 simplysave

Is there any way to reallocate the limits between the 2 cards in the future, as it says "you wont be able to change limit later" in the screenshot

 

[hellowo₹ld]

Is there any way to reallocate the limits between the 2 cards in the future, as it says "you wont be able to change limit later" in the screenshot

"change later" doesn't mean "forever", at this moment before card approved.

once approved, u can do that, I think some min. time period will be there then safely transfer limits from one card to another.