SBI Card PhonePe SBI Card – CVP new SBI CC launching

[Dr.AMAN]

Can someone confirm on this?

Any overleverage issue?

 

[sriteja]

SBI Rejected for location - first time i seen anyon.

Do you have any other bank credit cards for same location?

I do have other bank credit cards, I do know other people have SBI credit card in my location. I thought there is location restriction for phonepe card

 

[nikhilv0303]

RBI Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23), Clause 6 - Issue of Credit Cards.
(a) Customer Acquisition:
i. Card-issuers shall provide a one-page Key Fact Statement along with the credit card application containing the important aspects of the card such as rate of interest, quantum of charges, among others. In case of rejection of a credit card application, the card-issuer shall convey in writing the specific reason/s which led to the rejection of the application.

Quote this and ask for specific reason for the rejection as per RBI circular.

Email CustomerServiceHead@sbicard.com

Just sent.. lets see what they reply

 

[nikhilv0303]

Any overleverage issue?

Most probably they rejected because of that. But in reality I'm no over-leveraged... Total CL is <1.2x of salary

 

[nikhilv0303]

Anyone got approval after initial rejection?
Want to check if I should pursue further by sending the ITR/Salary slips via Nodal... or is it a lost cause?

 

[The_One]

Most probably they rejected because of that. But in reality I'm no over-leveraged... Total CL is <1.2x of salary

1.2x of monthly or yearly salary?

 

[The_One]

I

Anyone got approval after initial rejection?
Want to check if I should pursue further by sending the ITR/Salary slips via Nodal... or is it a lost cause?

suggest to try at least, let bank say what they wanna do. Every case is different, just my 2 cents.

 

[nikhilv0303]

1.2x of monthly or yearly salary?

Yearly.. I assumed over leverage was calculated on yearly!
Isn’t that right?

 

[The_One]

Yearly.. I assumed over leverage was calculated on yearly!
Isn’t that right?

Yes it’s yearly.

 

[RajeshV]

Is it possible to apply on a split limit basis without verification if one has an existing SBI card?

 

[HumorSimpson]

1.2x of monthly or yearly salary?

It's yearly. Suppose your annual income is 10L, your CL must not cross 1.2x10 = 12CL. The biggest issue for this cause is , banks like hdfc report shared limit of CCs as separate making CL to look high.

Note : some say its 1.2 and some 1.5

 

[nikhilv0303]

Yes it’s yearly.

It's yearly. Suppose your annual income is 10L, your CL must not cross 1.2x10 = 12CL. The biggest issue for this cause is , banks like hdfc report shared limit of CCs as separate making CL to look high.

Note : some say its 1.2 and some 1.5

Yes HDFC is reporting my multiple cards as separate limits.

 

[nikhilv0303]

Any overleverage issue?

Anyone got approval after initial rejection?
Want to check if I should pursue further by sending the ITR/Salary slips via Nodal... or is it a lost cause?

I

suggest to try at least, let bank say what they wanna do. Every case is different, just my 2 cents.

Okay so I got a reply today from CustomerServiceHead@sbicard.com

They confirmed it’s due to overleveraged profile.

What should be my next steps? Reply to same email id with my ITR and Salary slips? Or write directly to nodal?
Also, could someone share the nodal email id for SBI cards?

 

[Dr.AMAN]

Okay so I got a reply today from CustomerServiceHead@sbicard.com

They confirmed it’s due to overleveraged profile.

What should be my next steps? Reply to same email id with my ITR and Salary slips? Or write directly to nodal?
Also, could someone share the nodal email id for SBI card

Escalate to nodalofficer@sbicard.com. Explain them about all different banks' cards that u have and ur cibil history.( Although dont expect much. SBI is very strict about the overleveraged issue). Start reducing limits/closing cards which u r not using much. Atleast u r just 1.2X overleveraged. Easy to get back to underleveraged limit.

 

[panu24]

Okay so I got a reply today from CustomerServiceHead@sbicard.com

They confirmed it’s due to overleveraged profile.

What should be my next steps? Reply to same email id with my ITR and Salary slips? Or write directly to nodal?
Also, could someone share the nodal email id for SBI cards?

I wonder how will nodal help here. You got reply from top most level people of SBI. Nodal level comes 2 level down CSHead. You should reply to same email id.

 

[nikhilv0303]

I wonder how will nodal help here. You got reply from top most level people of SBI. Nodal level comes 2 level down CSHead. You should reply to same email id.

Oh I thought Nodal was above this Customer service Head email.
Thanks for informing. I’ll write back to this id only then.

 

[WandereR]

My total CL is >2x of my annual salary. Any possibility of getting SBI cc? I was rejected 2 years back for Cashback CC

 

[Dr.AMAN]

My total CL is >2x of my annual salary. Any possibility of getting SBI cc? I was rejected 2 years back for Cashback CC

Very low chance. They r rejecting even for>2X. Try reducing limits/closing unwanted cards

 

[WandereR]

Very low chance. They r rejecting even for>2X. Try reducing limits/closing unwanted cards

HDFC - Millennia, Neu Inf, Swiggy
Axis - Atlas, Airtel, FK
ICICI - Single reported
Federal - Celesta
IDFC - Select
PNB - RS
HSBC - Live+
Indusind - Pinnacle, Rupay

I might close Millennia. Only other useless card I feel is Indus Rupay, but that's for JCB benefits. Would've been great if SBI approved CB 2 years back, didn't have many cards back then.🙁

 

[Dr.AMAN]

HDFC - Millennia, Neu Inf, Swiggy
Axis - Atlas, Airtel, FK
ICICI - Single reported
Federal - Celesta
IDFC - Select
PNB - RS
HSBC - Live+
Indusind - Pinnacle, Rupay

I might close Millennia. Only other useless card I feel is Indus Rupay, but that's for JCB benefits. Would've been great if SBI approved CB 2 years back, didn't have many cards back then.🙁

Closing Millenia( a core hdfc card) would be a big mistake if u aim for getting premium cards from HDFC. Better retain it. Close Axis fk( u wont need it once u get SBI CB). Atlas might anyways die by yearend.U can also close IDFC Select now and reapply later on card-to-card basis. Icici u can reduce the limit if not using regularly