SBI Card Over Leveraged? Here's the Solution - Experiment

[D₹V]

SBI cards offline application - applying by yourself & sending it to SBI cards office like HDFC Chennai method.


I recently emailed SBI card to issue me 2nd card & this was their reply:



We request you to visit our website www.sbicard.com. On the main page, please click on Cards for You and choose SBI Card of your choice, then click on Learn More. Post that click on Apply Now, it will take you to next page where you can provide the required personal information to apply for card.

(Or)

We would request you to download the application form from website www.sbicard.com and complete the form in all respects and send the original form at the below mentioned address.

SBI Cards and Payments Services Pvt. Ltd,

P.O Box No-16, G.P.O

New Delhi-110001

After completion of necessary formalities, if these adhere as per the policy, we would be able to send your card.

Meaning SBI card can be applied offline by filling form & sending it via post.

So I went to SBI site, scrolled down then click on form center & found this form (attached).

Whoever is unable to get SBI card, please try this method manually & update here.

I believe this can work because SBI will do all verification & stuff manually including CIBIL check. On the other hand, in online application, CIBIL thing is automated & rejects customer instantly citing internal policy (over leveraged).

What docs to send? I didn't see any mention of docs but you can attach income docs, address proof like aadhar or even C2C docs for better approval rate 😂 (I saw section of other card number option, so you can try).

P.s. I didn't read the whole form.

P.s. - This is an experimental post & doesn't guarantee 100% approval with trick.

If you copy this post, don't forget to give credit to OP (@D₹V).

 

[b4bhar]

only possible in Icici

I did it with ICICI and IDFC banks successfully.

 

[R_A_J]

I did it with ICICI and IDFC banks successfully.

+ AU also they do.

Was declined by Kotak that they cant decrease CL.

 

[nikhilv0303]

To solve SBI overleverage issue, is closing cards the only solution?
Or will reducing the credit limits help in solving it?

What I mean is do they consider only total limits or also number of cards?

 

[b4bhar]

To solve SBI overleverage issue, is closing cards the only solution?
Or will reducing the credit limits help in solving it?

What I mean is do they consider only total limits or also number of cards?

I believe it's the total limit.

 

[SSV]

To solve SBI overleverage issue, is closing cards the only solution?
Or will reducing the credit limits help in solving it?

What I mean is do they consider only total limits or also number of cards?

Generally speaking,
Decrease the total CL
And / Or
Increase the income..

 

[nikhilv0303]

ICICI reverted with below reply when I asked them to reduce the limit
Is it stringent and not at all possible in case I want to increase the limit at a later date?

We understand your concern and you wish to reduce your credit limit to Rs. xxxx.
Please be informed that once the credit limit has been reduced permanently, we will not be able to increase the credit limit in the future.
Hence, we request you to provide your confirmation to reduce your credit limit to Rs. xxxx in your credit card xxxx.

 

[nikhilv0303]

ICICI reverted with below reply when I asked them to reduce the limit
Is it stringent and not at all possible in case I want to increase the limit at a later date?

We understand your concern and you wish to reduce your credit limit to Rs. xxxx.
Please be informed that once the credit limit has been reduced permanently, we will not be able to increase the credit limit in the future.
Hence, we request you to provide your confirmation to reduce your credit limit to Rs. xxxx in your credit card xxxx.

Bumping up to see if anyone is aware?

 

[b4bhar]

Bumping up to see if anyone is aware?

i think we can increase it after 6 months. that's what i was told.

 

[cc_dc_explorer]

Why ICICI only? You can mail to any CC issuing bank and ask them to decrease CL as per your desired figure. I have done today with BOB Onecard, gave request for decreasing CL from 3L to 1L. Also decreased three of my ICICI CC limits through internet banking.
Now the question to experts, do I need to call ICICI separately to decrease CL and update the decreased limit in Cibil, Experian OR by default it will be updated in Cibil as I have reduced CL through internet banking?

I'm stuck with Over Leverage issue for 3 banks - SBI, AU and Canara

I did it with ICICI and IDFC banks successfully.

How to do it in Netbanking? Is it temporary or permanent ?
Is it possible to increase it later ?

Also, can you guys confirm if the reduced limit reflects in CIBIL after how many months?

 

[xxScriptzxx]

Why ICICI only? You can mail to any CC issuing bank and ask them to decrease CL as per your desired figure. I have done today with BOB Onecard, gave request for decreasing CL from 3L to 1L. Also decreased three of my ICICI CC limits through internet banking.
Now the question to experts, do I need to call ICICI separately to decrease CL and update the decreased limit in Cibil, Experian OR by default it will be updated in Cibil as I have reduced CL through internet banking?

I'm stuck with Over Leverage issue for 3 banks - SBI, AU and Canara

Canara talk to BM he will get it approved inspite of overleverage. I have got it

 

[sankar7000]

we can even try to reduce the limits as well, right instead of closing?

This is what I learnt today of the over leveraged card issue

Per SBI system , I have been told that I have 3 cards, one closed in 2023 and 2 closed in 2012 or 2016. In their system it is showing as active cards (primarily earlier cards and was closed at my end, system has not been updated accordingly). The problem is THAT prior to a certain date, SBI system has not captured NOC that I have not closed the card. Hence even though I provided NOC for 2023, the earlier cards are still showing up as active in the system (some stupid tech glitch). Hence automatically you are over leveraged with no of cards stating the user has 3 or 4 cards. In reality I dont have any SBI cards and sprint application or agent application automatically rejects "CORE" cards based on algorithm. It does not matter what CIBIL says.. WHAT MATTERS is their SBI CARDS STUPID system shows how many cards you HAVE!!! WOW!! you may have ZERO active CARDS and their system will SHOW something else. Key is to work with SBI cards SYSTEM TO CLEAN UP the ZOMBIE CARDS!!!!

 

[Sahil_07]

This is what I learnt today of the over leveraged card issue

Per SBI system , I have been told that I have 3 cards, one closed in 2023 and 2 closed in 2012 or 2016. In their system it is showing as active cards (primarily earlier cards and was closed at my end, system has not been updated accordingly). The problem is THAT prior to a certain date, SBI system has not captured NOC that I have not closed the card. Hence even though I provided NOC for 2023, the earlier cards are still showing up as active in the system (some stupid tech glitch). Hence automatically you are over leveraged with no of cards stating the user has 3 or 4 cards. In reality I dont have any SBI cards and sprint application or agent application automatically rejects "CORE" cards based on algorithm. It does not matter what CIBIL says.. WHAT MATTERS is their SBI CARDS STUPID system shows how many cards you HAVE!!! WOW!! you may have ZERO active CARDS and their system will SHOW something else. Key is to work with SBI cards SYSTEM TO CLEAN UP the ZOMBIE CARDS!!!!

But I don't think having 3-4 cards will make any difference . My phonepe card was approved when I had 6 cards including 2 sbi cards. so 5-6 cards is okay, overleverage generally happens when one have 8/9+ cards

 

[nikhilv0303]

only possible in Icici

Why ICICI only? You can mail to any CC issuing bank and ask them to decrease CL as per your desired figure. I have done today with BOB Onecard, gave request for decreasing CL from 3L to 1L. Also decreased three of my ICICI CC limits through internet banking.
Now the question to experts, do I need to call ICICI separately to decrease CL and update the decreased limit in Cibil, Experian OR by default it will be updated in Cibil as I have reduced CL through internet banking?

I'm stuck with Over Leverage issue for 3 banks - SBI, AU and Canara

I reduced for below by emailing
Icici
AU
Federal onecard

Going to try for below in coming days
HSBC

 

[Sahil_07]

I reduced for below by emailing
Icici
AU
Federal onecard

Going to try for below in coming days
HSBC

good luck .

 

[nikhilv0303]

Biggest problem is HDFC where each card is reflected as separate in CIBIL. And my primary usage is HDFC so don’t want to reduce

 

[AjinkyaDadoo]

I have 4 cards from ICICI with shared limit of 12L. I want to reduce limit for Rubyx and Coral to 2Lakh and keep others as it is. Is it possible? Sent a mail to customer care 3 weeks ago. Haven't received any reply till now.

 

[Sahil_07]

I have 4 cards from ICICI with shared limit of 12L. I want to reduce limit for Rubyx and Coral to 2Lakh and keep others as it is. Is it possible? Sent a mail to customer care 3 weeks ago. Haven't received any reply till now.

you can do it alone from app

 

[nikhilv0303]

you can do it alone from app

App allowed for Spend limit, not Credit limit from what I know
Reducing spend limit doesn’t reduce it in CIBIL

 

[AjinkyaDadoo]

App allowed for Spend limit, not Credit limit from what I know
Reducing spend limit doesn’t reduce it in CIBIL

That is correct.

 

[Sahil_07]

App allowed for Spend limit, not Credit limit from what I know
Reducing spend limit doesn’t reduce it in CIBIL

I have done it, limit will be updated in cibil in 30 days.