Help Needed: Recent Limit Reduction on SBI Cashback Credit Card

[Paritosh]

I previously had an SBI SimplySave card with a credit limit of around 2.7L, from which I transferred 2.5L to my SBI Cashback credit card, increasing the limit to 3L. However, the limit transfer feature was later disabled, and I couldn't transfer or increase the limit on the SBI SimplySave card, so I eventually closed SimplySave.

For the past few months, I’ve been using the Cashback card regularly to earn 5K in rewards each month. Today I received a notification that my limit has been reduced to 2L. Is there anything I can do to address this? Any help would be appreciated.

 

[kgaurav00]

I previously had an SBI SimplySave card with a credit limit of around 2.7L, from which I transferred 2.5L to my SBI Cashback credit card, increasing the limit to 3L. However, the limit transfer feature was later disabled, and I couldn't transfer or increase the limit on the SBI SimplySave card, so I eventually closed SimplySave.

For the past few months, I’ve been using the Cashback card regularly to earn 5K in rewards each month. Today I received a notification that my limit has been reduced to 2L. Is there anything I can do to address this? Any help would be appreciated.

First of all 1L limit enough to SBI Cashback card & your regular 1L use may be the reason behind limit decrease.

 

[Shoxie]

First of all 1L limit enough to SBI Cashback card & your regular 1L use may be the reason behind limit decrease.

Why regularly using 1l would be the reason for limit decrease?

 

[kgaurav00]

Why regularly using 1l would be the reason for limit decrease?

its common practice for CIBIL calculation(Your income, spend & many more factors effect).
if you use regular high amount from your card your profile mark doubtful.

 

[Shoxie]

its common practice for CIBIL calculation(Your income, spend & many more factors effect).
if you use regular high amount from your card your profile mark doubtful.

Got your point. We've to see whether he kept his outstanding limit always on the higher side. Or he prepaid as and when he used the card.

 

[Paritosh]

Got your point. We've to see whether he kept his outstanding limit always on the higher side. Or he prepaid as and when he used the card.

I never prepaid because utilisation retained 35% on average. But now I have to prepay as limit is reduced 😕

 

[Shoxie]

I never prepaid because utilisation retained 35% on average. But now I have to prepay as limit is reduced 😕

If it was 35 only, then tough luck man. Sbi acts weird. No way to reverse this limit reduction.

And banks have been reducing limits for a while now, since the RBIs directive of raising risk weights for credit cards.

 

[Paritosh]

My limit is reduced to 1 L now 🙁 20 days before they reduced 1L, today also 1L reduced. As the card limit is only 1L I dont have much limit remaining for spends.

 

[TechnoFi]

My limit is reduced to 1 L now 🙁 20 days before they reduced 1L, today also 1L reduced. As the card limit is only 1L I dont have much limit remaining for spends.

You have to raise your net income criteria so that you can again claim your decreased credit limit from sbi.

 

[Paritosh]

You have to raise your net income criteria so that you can again claim your decreased credit limit from sbi.

Is it same as request for limit increase with customer support?