SBI Card Lessons learned while paying more then the credit limit from SBI Card

[priyanshurajput19]

according to rules its attract over limit charges..

I don’t think it’s over limit. Then I have turned the over limit feature in my app. It’s like suppose I make a payment of one lakh rupees from a card and and pay the outstanding, and then cancel that product.

 

[priyanshurajput19]

Quick question - If I pay more than my limit and then transact the amount which is higher than my sanctioned limit, (but still falls under the temporary credit that I have paid), will I have to bear overlimit charges? Will the transaction go through?

I didn’t incurred any transaction charges or over limit charges

 

[kgaurav00]

I don’t think it’s over limit. Then I have turned the over limit feature in my app. It’s like suppose I make a payment of one lakh rupees from a card and and pay the outstanding, and then cancel that product.

if you are right then no difference between 10k & 500k limit users. Anyone top-up their card with desired limit and make purchase.

 

[priyanshurajput19]

if you are right then no difference between 10k & 500k limit users. Anyone top-up their card with desired limit and make purchase.

Its seems to me too and please correct me if i am wrong, but a 500k limit user can purchase things on credit, but in this case, it is more of being used as a debit card.

 

[bing1309]

Yes, even SBI didn’t allow it. The only way to go over limit is to pay for your card through NEFT transfer.

Not payment even transaction let's say you have credit limit of 1.4l but there is a item you have to purchase of 1.6l you might add another 20k as extra to your cc and your limit in negative shows 1.6l but when you try to swipe for 1.6l the transaction decline stating limit capped to 1.4l so this excess add and pay will also be blocked because to encourage overlimit to make money out of you despite you have money

 

[priyanshurajput19]

Not payment even transaction let's say you have credit limit of 1.4l but there is a item you have to purchase of 1.6l you might add another 20k as extra to your cc and your limit in negative shows 1.6l but when you try to swipe for 1.6l the transaction decline stating limit capped to 1.4l so this excess add and pay will also be blocked because to encourage overlimit to make money out of you despite you have money

Then may be i was just lucky😝

 

[kgaurav00]

Then may be i was just lucky😝

Yeah you ar lucky one..

 

[mukku.bel]

Not payment even transaction let's say you have credit limit of 1.4l but there is a item you have to purchase of 1.6l you might add another 20k as extra to your cc and your limit in negative shows 1.6l but when you try to swipe for 1.6l the transaction decline stating limit capped to 1.4l so this excess add and pay will also be blocked because to encourage overlimit to make money out of you despite you have money

No this isn’t applicable to SBI Cards, ICICI Card,IDFC(no more) HSBC. While what you are saying is true for HDFC, Axis. There are myriad of cards however I have only tested this so have put in the example.
Thing is there two general ways something can be capped.
Say Credit limit is the variable in the code(in whatever language) for setting a credit limit.
You can define it either by hardcoding the value of max credit limit provided to you or you could define it by the max limit presently available like
Credit limit = MAX_LIMIT_AVAILABLE
or credit limit = MAX_LIMIT_ALLOWED
Wherever the code would have been defined as 1st one, it will allow you to purchase a good of any amount permitted your card provider allows you to pay excess amount to your card and you have sufficiently funded the card.
Wherever they have hardcoded like 2nd case, your transactions would cap at the max limit provided to the card.

 

[Dr.Anand456]

First-time post, apologies for any mistakes!

I have a Cashback Credit Card with a limit of ₹40,000, but I needed to make a payment of ₹1,00,000.

• I tried various methods to pay an excess amount towards my credit card bill in hopes of temporarily increasing my limit, but nothing seemed to work.
• Eventually, I tried using Cred and made a test payment of ₹100. To my surprise, that amount was credited to my card, raising my available balance to ₹40,100.
• Confident with this, I paid ₹60,000 through Cred to my SBI credit card. However, the payment wasn’t credited for over 8 hours. After reaching out to customer support and following up, it took nearly two days for the amount to reflect in my account.
• Since I urgently needed to complete the payment, I opted to pay through NEFT instead, breaking the amount into chunks of ₹20,000. These payments were credited within 30 minutes.

Lessons learned:

• Payments via Cred aren’t always instant.
• If you need to pay more than your credit limit, the best option is to transfer the extra amount to your credit card using NEFT. It’s faster and more reliable in my experience.

Next time pay through hdfc debit card. It's fastest way to pay credit card bills now days.

 

[priyanshurajput19]

Next time pay through hdfc debit card. It's fastest way to pay credit card bills now days.

Sure sir, will keep that in mind.

 

[TechnoFi]

First-time post, apologies for any mistakes!

I have a Cashback Credit Card with a limit of ₹40,000, but I needed to make a payment of ₹1,00,000.

• I tried various methods to pay an excess amount towards my credit card bill in hopes of temporarily increasing my limit, but nothing seemed to work.
• Eventually, I tried using Cred and made a test payment of ₹100. To my surprise, that amount was credited to my card, raising my available balance to ₹40,100.
• Confident with this, I paid ₹60,000 through Cred to my SBI credit card. However, the payment wasn’t credited for over 8 hours. After reaching out to customer support and following up, it took nearly two days for the amount to reflect in my account.
• Since I urgently needed to complete the payment, I opted to pay through NEFT instead, breaking the amount into chunks of ₹20,000. These payments were credited within 30 minutes.

Lessons learned:

• Payments via Cred aren’t always instant.
• If you need to pay more than your credit limit, the best option is to transfer the extra amount to your credit card using NEFT. It’s faster and more reliable in my experience.

kindly also confirm still zero & no hidden charges for that transaction after final card statement is generated ?

 

[priyanshurajput19]

kindly also confirm still zero & no hidden charges for that transaction after final card statement is generated ?

Mujhe to nahi lage. 100 percent. Fist try with a small amount. Lets say 5000. It will take around 30 minutes to get credit if you transfer them to your card by NEFT. It will reflect in your total limit.

 

[prathameshrk]

SBI Card allows it, I had an experience too around 2 years back and wasn't charged anything extra. Not sure about other banks.

 

[mukku.bel]

First-time post, apologies for any mistakes!

I have a Cashback Credit Card with a limit of ₹40,000, but I needed to make a payment of ₹1,00,000.

• I tried various methods to pay an excess amount towards my credit card bill in hopes of temporarily increasing my limit, but nothing seemed to work.
• Eventually, I tried using Cred and made a test payment of ₹100. To my surprise, that amount was credited to my card, raising my available balance to ₹40,100.
• Confident with this, I paid ₹60,000 through Cred to my SBI credit card. However, the payment wasn’t credited for over 8 hours. After reaching out to customer support and following up, it took nearly two days for the amount to reflect in my account.
• Since I urgently needed to complete the payment, I opted to pay through NEFT instead, breaking the amount into chunks of ₹20,000. These payments were credited within 30 minutes.

Lessons learned:

• Payments via Cred aren’t always instant.
• If you need to pay more than your credit limit, the best option is to transfer the extra amount to your credit card using NEFT. It’s faster and more reliable in my experience.

My cashback card limit it 44k and I want to order a MacBook mini worth 70k.
I tried your method of NEFT by sending ₹ 1 to my card however the amount was returned to my bank account the next day.
What’s the catch here I am not getting, I am sending the amount from my AU bank account.
How did you do it ?

 

[fin_avid]

I have also done the same thing few years back wen I maxed out on my credit limit. It worked fine. Dono hw it's nw. But a quick question @priyanshurajput19 , did u get that 5% cashback for that 60K too ??

 

[aashishnb]

I think now there is new RBI rule where banks cannot take a 'payment' credit of more than the total outstanding amount on a credit card. So you cannot pay in advance & increase the limit.

In some rare cases, there could potentially be a 'refund' / 'transaction cancelled' type of credit to the card i.e. money refunded by merchant, after you've paid off the entire credit card outstanding leading to a surplus balance. In such scenarios, you'll get message from the credit card company asking if you want the excess credited to your bank account.