over-leverage can be a reason for any Credit card application Rejection share your thoughts on this

[sjmajumder]

These banks don't issue cc if you are in overleverage
sbi
hsbc
standard charted
idfc.



rest banks don't card that much about it.

SBI for sure, not aware about HSBC, doubt about SC and IDFC as I got their cards at first attempt when I had 20+ cards with CL of 1CR+

 

[sjmajumder]

but what about salary ? Banks do consider that right like less salary and big card limits

Yes, they do care about salary because that gives you spending power and that is what banks look for. I don't remember when I last submitted salary slip to any bank. Anyone who asks for salary slip, I deny. Try to leverage your CL and don't submit salary slip as much as possible. Having a CIBIL score of 800+ definitely helps

 

[sjmajumder]

Yeah it’s a great card for UPI spends. 1% credit utilisation is quite rare for someone and maybe this is the reason why your applications are getting extra attention. If you want a HDFC core Card approved easily, you may open a savings/salary account with them.

1% or less than 1% credit utilization is not so rare. Anyone who has got around 15 cards will typically have less than 1% credit utilization. In my case it is generally less than 0.5% utilization.

 

[Boy 07]

Don't worry. My overall CL is 1.8 CR across 30+ cards and I still keep applying new cards and easily get them. What matters more is your CIBIL score and credit history.

Check this https://www.technofino.in/community/threads/which-is-your-first-credit-card-of-2024.21804/

Please advice me what should I do ? I am trying to get SBI card from last one years but it instantly got rejected due to over leverage Code U2 as per agent .My Cibil is 779 with one loan three years old and 11 cards with total limit approx 18 L utilisation 0% Should I closed the cards or should I wait for more time any other way if ???

 

[Zacobite]

Please advice me what should I do ? I am trying to get SBI card from last one years but it instantly got rejected due to over leverage Code U2 as per agent .My Cibil is 779 with one loan three years old and 11 cards with total limit approx 18 L utilisation 0% Should I closed the cards or should I wait for more time any other way if ???

forget sbi.. and live your life.yes u r overleveraged... cancelling cards may or maynot help.. sbi may still decline it.. so move on..

 

[sjmajumder]

Please advice me what should I do ? I am trying to get SBI card from last one years but it instantly got rejected due to over leverage Code U2 as per agent .My Cibil is 779 with one loan three years old and 11 cards with total limit approx 18 L utilisation 0% Should I closed the cards or should I wait for more time any other way if ???

I think you are over leveraged not because of CL but because of 0 utilization. How many enquiries do you have in last 3 months and last one year?

Closing cards will not help you. Try to utilize your cards and if you are unable to do so I will happily help you out here

Also please share why do you need an SBI card so desperately?

@SSV - Please help/guide

 

[newinnov]

I think you are over leveraged not because of CL but because of 0 utilization. How many enquiries do you have in last 3 months and last one year?

Closing cards will not help you. Try to utilize your cards and if you are unable to do so I will happily help you out here

Also please share why do you need an SBI card so desperately?

@SSV - Please help/guide

Share your utilization tips for betterment of community, new thread series part-1

 

[sjmajumder]

Share your utilization tips for betterment of community, new thread series part-1

It's really simple, just share your CC details with me and forward the OTPs instantly to me whenever you receive one

 

[newinnov]

It's really simple, just share your CC details with me and forward the OTPs instantly to me whenever you receive one

That would be over-utilization, 100% of credit limit

 

[sjmajumder]

That would be over-utilization, 100% of credit limit

Sorry forgot one thing, please enable over credit limit

 

[Boy 07]

I think you are over leveraged not because of CL but because of 0 utilization. How many enquiries do you have in last 3 months and last one year?

Closing cards will not help you. Try to utilize your cards and if you are unable to do so I will happily help you out here

Also please share why do you need an SBI card so desperately?

@SSV - Please help/guide

I have 8 enquiries in last 6 months, i am fond of collecting the cards and in my collection sbi card is absent.

 

[sjmajumder]

I have 8 enquiries in last 6 months, i am fond of collecting the cards and in my collection sbi card is absent.

That can also be a good reason for rejection. Seriously if SBI considers 18L overall CL to be over leveraged, they are going to be out of business very soon. There will definitely be a second criteria to calculate overleverage and cannot be just the CL.

 

[Boy 07]

That can also be a good reason for rejection. Seriously if SBI considers 18L overall CL to be over leveraged, they are going to be out of business very soon. There will definitely be a second criteria to calculate overleverage and cannot be just the CL.

I am surprised that even in this condition SBI Card is a major credit card provider in India

 

[sjmajumder]

I am surprised that even in this condition SBI Card is a major credit card provider in India

SBI Card is my second oldest card. Holding since 2006. Initially it was SBI Kolkata card offered as LTF. When it was discontinued they gave SBI Gold card LTF. Still holding the same. In between I took the IRCTC card but closed it after one year. Never applied for any other SBI card as they don't offer LTF. Doesn't even offer upgrade to someone holding their card for 18+ years and CL is also one of the lowest.