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.

 

[Deleted member 19102]

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

I just did it under 2 months gap. Transferred limit twice from Paytm card to Simplyclick. Now paytm limit is 15k. Will follow @SSV advice during closing paytm card

 

[arun4455]

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.

Actually I was just looking for Octane card. I have shifted to a new place and on the way to my office, there is only two bpcl petrol pump. So I was trying to get octane for my fuel spend.

 

[SSV]

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

Have you tried before?
If so how many times? from what card to what card?
what wa their reason for denial?

 

[Sahil_07]

1) close unnecessary scrap cards
2) reduce the CLs on the existing CCs in their respective Apps
3) Increase your income
Get them reflected in CIBIL and try your luck

hi bro which one will be more effective? reducing number of cards or reducing credit limit. For my case Icici limit is more than 3x than other cards,if I reduce its limit from imobile app,will it be sufficient?

 

[Boy 07]

is this a better TIME to apply sbi card or should i wait for more days of this month ?
i reduced my cards limit 22 L to 13.76L is there any chance for SBI card ?

 

[SSV]

is this a better TIME to apply sbi card or should i wait for more days of this month ?
i reduced my cards limit 22 L to 13.76L is there any chance for SBI card ?

And your annual income?

 

[Boy 07]

And your annual income?

6 L Only

 

[SSV]

6 L Only

Then difficult to get SBI card.. 13/6 is more than 2 times... ideallybit should be less than 1 or a maximum of 1.5 times ( if lucky)

 

[Boy 07]

Then difficult to get SBI card.. 13/6 is more than 2 times... ideallybit should be less than 1 or a maximum of 1.5 times ( if lucky)

yes You are right but as the financial year is ending so should i try my Luck in the end of this month ? if failed then will try close more scrap cards

 

[SSV]

yes You are right but as the financial year is ending so should i try my Luck in the end of this month ? if failed then will try close more scrap cards

FYE is nothing to do with it, algo stops your application as soon as it finds you are over leveraged

 

[Boy 07]

Yes

FYE is nothing to do with it, algo stops your application as soon as it finds you are over leveraged

Yes my credit card declined reason U 2
But ye income to puchte nahi pan card no par hi declined karte hain inhe kaise pata meri income kitni he or agar meri income increase hoti he to inhe kaise pata chalega .