Getting SBI card after overleverage possible?

[arun4455]

I have applied for SBI Octane card, however, the bank reject the application everytime. I have CIBIL of 800+ and decent income. When I approached the RBI Ombudsman to know the reason, I get to know that the cards are being rejected due to overleverage as I have few cards with very good limits.

Is there any way to get the Octane card? Currently I have simplyclick and CB card from SBI, they have rejected the Simplyclick to Octane upgrade also.

 

[arun4455]

you don't need 3 ICICI cards. Moreover all gemstones under single account in CIBIL, if its 3 accounts means you have APay, and MMT. which you can close safely (provided you have alterantive to APay).

whats your credit history (in years)?

I have apay ( use for amazon purchase), Sapphiro LTF and EPM paid (recently taken for first year only). I have 16 years of credit history.

 

[helloworld]

I have apay ( use for amazon purchase), Sapphiro LTF and EPM paid (recently taken for first year only). I have 16 years of credit history.

then you'll have only 2 accounts in CIBIL related to ICICI (unless ICCI adds another new account for EPM). No, credit leverage can't adjust w.r.t SBI requirements at this time for your credit history, its better to apply card from your family members name.

Apay can be closed if you have cards like DCB / Infinia / Amex etc. reward multiplier cards. But, my suggestion ignore and apply sbi card through your family members is better option.

You can get the card if you visit the branch and apply through agent, but requires manuall effort - if really needed on your name only.

Or convert that simplyclick to octane by fighting through support. You don't need 3 SBI cards also.

 

[SSV]

I have apay ( use for amazon purchase), Sapphiro LTF and EPM paid (recently taken for first year only). I have 16 years of credit history.

In this case, you will have 3 accounts in cibil .

 

[arun4455]

then you'll have only 2 accounts in CIBIL related to ICICI (unless ICCI adds another new account for EPM). No, credit leverage can't adjust w.r.t SBI requirements at this time for your credit history, its better to apply card from your family members name.

I have 3 accounts in my CIBIL.

Apay can be closed if you have cards like DCB / Infinia / Amex etc. reward multiplier cards. But, my suggestion ignore and apply sbi card through your family members is better option.

You can get the card if you visit the branch and apply through agent, but requires manuall effort - if really needed on your name only.

Tried this option also, but it was rejected through agent also. Now I have given up thought to get another SBI.

Or convert that simplyclick to octane by fighting through support. You don't need 3 SBI cards also.

I have tried to convert my simplyclick to Octane. Even escalated to PNO. They took the request and took 10 days and rejected the conversion request. I don't understand why they can't convert my existing card to Octane.

 

[helloworld]

I have tried to convert my simplyclick to Octane. Even escalated to PNO. They took the request and took 10 days and rejected the conversion request. I don't understand why they can't convert my existing card to Octane.

This is the only option you have left now, can't do much with overleverage with 16 years of credit history.. you might have received multiple LE, card applications. Being a strong credit history, either ask them to convert again with fresh mail or have to apply separately on another family member name.

 

[SSV]

I have 3 accounts in my CIBIL.

Tried this option also, but it was rejected through agent also. Now I have given up thought to get another SBI.

I have tried to convert my simplyclick to Octane. Even escalated to PNO. They took the request and took 10 days and rejected the conversion request. I don't understand why they can't convert my existing card to Octane.

SBI has extremely rigid systems..
If their systems won’t allow doing any specific thing then no human can interfere and get the job done. It seems even MD can’t do anything about it…that is the kind of things that are happening at SBI cards, to my experience and observation

 

[Shin-Chan]

SBI CC and HDFC CC are impossible to understand what they want and what they don't.

I will recommend get in touch with offline agent and try to find exact issue and basis that you may act accordingly; The agent needs to be a good one newbies will not even be able to comprehend if you ask them all these things.

 

[SSV]

I have 3 accounts in my CIBIL.

Tried this option also, but it was rejected through agent also. Now I have given up thought to get another SBI.

I have tried to convert my simplyclick to Octane. Even escalated to PNO. They took the request and took 10 days and rejected the conversion request. I don't understand why they can't convert my existing card to Octane.

SBI has extremely rigid systems..
If their systems won’t allow doing any specific thing then no human can interfere and get the job done. It seems even MD can’t do anything about it…that is the kind of things that are happening at SBI cards, to my experience and observation

I have lost 1.15 CL .. this was how it happened.
1) I got my SBI CB card with 3.72L CL
2) later I split this CL into 2.72L CL for CB and 1L for simply click ( when a new card was taken)
3) for LE on SC of 15K
4) closed SC later . At the time of closure the agent assured me that I can get back my CL of 1.15L into CB
5) after closure of SC , I logged a call with CC to transfer CL to CB ( within around 7 to 10 days, can’t remember exactly)
6) CC rejected my request of transfer of CL citing can’t transfer as system was not allowing them

After this, I tried 3 to 4 times , all the way up to PNO or whoever at the top and everyone took their own sweet time and came back with a response of can’t do anything because your card was permanently closed..

Moral of the story: never close any SBI card without first transferring the existing CL in to another card .. otherwise we can not reclaim the lost CL.
If you have only one card , never close it as you may not be able get a new SBI card because of over leverage issue…

 

[SunnyM]

I have lost 1.15 CL .. this was how it happened.

Similar thing happened with many people. SBI is still sbi. We should not expect much. They are still trying to figure out how to make sbi cashback a 'profitable' card.

 

[ramskypitti]

No Sir,

This is how it works :
Lets say I have a GenStone account with below cards:
1. Coral - 1L limit
2. Rubyx - 3L limit
3. Sapphiro - 5L limit

Then Bank will report this as 5L limit and not 9L limit

i have a query regarding this i'm holding Apay & coral both with 2L & in cibil it is showing as separate accounts even with axis also i'm holding 2 CC showing as separate a/c & overall limit is showing as 8L in cibil in order to reduce leverage should i close one card with both the banks?? Even though the cards have merged limit it is showing up different in cibil

 

[mayankcse10]

Moral of the story: never close any SBI card without first transferring the existing CL in to another card .. otherwise we can not reclaim the lost CL.
If you have only one card , never close it as you may not be able get a new SBI card because of over leverage issue…

Not true for everyone, I guess. When I closed my SimplyClick I noticed after closure that the limit was left with it and not transferred to Cashback. After waiting for a week or so called them to do the same and they obliged on first call.

 

[SSV]

Not true for everyone, I guess. When I closed my SimplyClick I noticed after closure that the limit was left with it and not transferred to Cashback. After waiting for a week or so called them to do the same and they obliged on first call.

So here, the timing may matter. It would be interesting to see if you had called them after say , one month

 

[arun4455]

I have lost 1.15 CL .. this was how it happened.
1) I got my SBI CB card with 3.72L CL
2) later I split this CL into 2.72L CL for CB and 1L for simply click ( when a new card was taken)
3) for LE on SC of 15K
4) closed SC later . At the time of closure the agent assured me that I can get back my CL of 1.15L into CB
5) after closure of SC , I logged a call with CC to transfer CL to CB ( within around 7 to 10 days, can’t remember exactly)
6) CC rejected my request of transfer of CL citing can’t transfer as system was not allowing them

After this, I tried 3 to 4 times , all the way up to PNO or whoever at the top and everyone took their own sweet time and came back with a response of can’t do anything because your card was permanently closed..

Moral of the story: never close any SBI card without first transferring the existing CL in to another card .. otherwise we can not reclaim the lost CL.
If you have only one card , never close it as you may not be able get a new SBI card because of over leverage issue…

SBI is SBI. I will not close SBI card as I know I will not be getting a new card due to over leverage issue.

Last time, when I had raised the issue to RBI ombudsman. A lady called and explained me that you have outstanding home loan of more than your salary, so it is also considered as over leverage. I am not sure whether it is true.

It that's true, then putting effort on this doesn't make any sense for me.

 

[mayankcse10]

So here, the timing may matter. It would be interesting to see if you had called them after say , one month

No, as I mentioned call them after a week so shouldn't be more than 10 days after closure.

 

[helloworld]

SBI is SBI. I will not close SBI card as I know I will not be getting a new card due to over leverage issue.

Last time, when I had raised the issue to RBI ombudsman. A lady called and explained me that you have outstanding home loan of more than your salary, so it is also considered as over leverage. I am not sure whether it is true.

It that's true, then putting effort on this doesn't make any sense for me.

sbi took this word 'over leveraged' when rbi said provide proper reasons rather saying internal reasons. which according to them worked for many times.

its better either try to switch that simplyclick to octane or apply separately on other family members name.

as mentioned 16 years can't satisfy over leverage to sbi.. might work for some but mostly unnecessary at this point.

 

[arun4455]

sbi took this word 'over leveraged' when rbi said provide proper reasons rather saying internal reasons. which according to them worked for many times.

its better either try to switch that simplyclick to octane or apply separately on other family members name.

as mentioned 16 years can't satisfy over leverage to sbi.. might work for some but mostly unnecessary at this point.

That's true.

SBI is ready to flip my existing card to these cards, but not octane. very strange policy. I have no payment delay. Have 800+ CIBIL and 1% usage as per CIBIL across all credit cards.

 

[cowcoconut]

That's true.

SBI is ready to flip my existing card to these cards, but not octane. very strange policy. I have no payment delay. Have 800+ CIBIL and 1% usage as per CIBIL across all credit cards.
View attachment 64352

In my personal opinion there are better cards out there to put your spends on. You should just try to make your card ltf so you can use it for bank offers, instead of taking this bait.

 

[mshenoy]

I have lost 1.15 CL .. this was how it happened.
1) I got my SBI CB card with 3.72L CL
2) later I split this CL into 2.72L CL for CB and 1L for simply click ( when a new card was taken)
3) for LE on SC of 15K
4) closed SC later . At the time of closure the agent assured me that I can get back my CL of 1.15L into CB
5) after closure of SC , I logged a call with CC to transfer CL to CB ( within around 7 to 10 days, can’t remember exactly)
6) CC rejected my request of transfer of CL citing can’t transfer as system was not allowing them

After this, I tried 3 to 4 times , all the way up to PNO or whoever at the top and everyone took their own sweet time and came back with a response of can’t do anything because your card was permanently closed..

Moral of the story: never close any SBI card without first transferring the existing CL in to another card .. otherwise we can not reclaim the lost CL.
If you have only one card , never close it as you may not be able get a new SBI card because of over leverage issue…

So we can transfer full limit of card before closure or should keep atleast 15k on it

 

[SSV]

So we can transfer full limit of card before closure or should keep atleast 15k on it

I think you need to keep minimum.
Transfer everything else and close the card.
Amd immediately ask for the transfer of the minimum as well.
This is how I do it if I need to

 

[kgaurav00]

I think you need to keep minimum.
Transfer everything else and close the card.
Amd immediately ask for the transfer of the minimum as well.
This is how I do it if I need to

According to my experience they never transfer limit twice into same card..