PhonePe Sbi select (Black) Application

[vickyprasad]

Hi,
I have recently applied for PhonePe Sbi select (Black) credit card and instantly got rejected and the i asked for reason for rejection application to customerservicehead@sbicard.com
and received call about this and sbi cards representive said my application got rejected because of overleveraged profile.
im attaching mail copy that i received. Im not an Salaried person nor have an ITR what can i do.

Any suggestions?


Dear Applicant,

Warm Greetings for the day!

This is with reference to your communication and subsequent telephonic conversation regarding your SBI Card application.

With reference to concern raised regarding PhonePe SBI Card application 282521306xxxx has been declined dated 09/09/2025, we would like to inform you that application could not be processed due to overleveraged profile, due to excessive unsecured exposure.

We request you to reapply after six months from the date of this application decline.

We request to share the following income documents, if your wish to re-consider your application (Subject to approval)

1. Latest 2 months’ Salary slip with bank account number clearly visible on salary slip or latest ITR along with latest 3-month bank statement

2. In case account number/bank name not mentioned on salary slip we request you to kindly share the latest 3-month bank statement.

Please also note that if you choose to share your consent for restarting or reconsidering the application, a CIBIL enquiry will be generated as part of the evaluation process.

 

[hellowo₹ld]

Technically on banks perspective:

Total limit = total debt (you can use that limit anytime without any limitation)

Well, some people says that only the amount we utilized is the actual debt but do u give guarantee to bank that u won't use remaining limit.?

Banks obviously say, due to impulse behavior and sometimes fomo, emergency etc. various factors that may tempt to use that limit because it exist and ready to be utilized.

So, for long time often suggesting that if u don't use particular card much and kept only because u got it free, reduce its limit because it helps to get better limits on your most used cards + better benefits.

The general rule is that a credit card limit is often determined to be two to three times your monthly income, though this can vary based on your credit score, employment stability, and the specific bank or card issuer.

Well, again some banks dont care much and called aggressive when providing limits but some banks care it and conservative when providing limits. SBICard is one of them and very much care about it. Not only that even if they see 10+ cards they can simply reject it, its upto them.

---------------

you can request for reconsideration but first check w.r.t your income how much you're close to over leverage?

btw, often suggesting that one should apply sbicards during their beginning of credit card journey, not later.

 

[vickyprasad]

I understand this is protocol for employees.
Can i request them to reconsider this card by spliting one of my exsisting credit card limit.
Currently holding BPCL Octane with 1.98L limit and Cashback card with 2.08L limit.

 

[hellowo₹ld]

I understan this is protocol for employees.
Can i request them to reconsider this card by spliting one of my exsisting credit card limit.
Currently holding BPCL Octane with 1.98L limit and Cashback card with 2.08L limit.

first simply draft an email stating your employment details, credit score and history, along with existing relationship with bank. try for reconsideration, based on that take next steps.

 

[vickyprasad]

Thanks man ill try and keep posted

 

[OptiCard]

Hehe....

What do you think other people didn't try this thing ?

Well, like others I also tried reconsideration and even after that raised complaint with CPGRAMS but same response.

The thing, this decision is totally on bank and RBI or other regularity can't interfere in this.