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).

 

[drvirag]

Ask them the reason

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

 

[Himanshuch]

They took my request for reconsideration of my SBI card application and after 12 days, they replied this. Is it due to an overleveraged issue?

View attachment 113556

In the same email, I got an option to send a message to the grievance team. They replied saying the rejection for me was due to overleverage issue.

 

[Abhisek]

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

Many PSU banks do this. SBI isnt alone. RBI can't do anything as it is a internal policy of SBI. If some of them turns NPA, RBI won't come to save SBI. The only way is to reduce limit on other cards and then apply.

 

[drvirag]

Many PSU banks do this. SBI isnt alone. RBI can't do anything as it is a internal policy of SBI. If some of them turns NPA, RBI won't come to save SBI. The only way is to reduce limit on other cards and then apply.

I have 25+ credit cards including almost all psu. no1 is like sbi. i have to close 22-23 cards to get sbi cashback. thats not worth.

 

[Boy 07]

I reduced my limit 23L to 11 L to take sbi
Finally soft approved varification done tele varification done
But rejected
Asked the reason they told due to internal policy and apply after six months
Lodged the compliant to RBIO got the response from bank with a reason which is not true
RBI also closed the complaint.
six months are going to complete next month let see what happens

 

[Dr.AMAN]

I reduced my limit 23L to 11 L to take sbi
Finally soft approved varification done tele varification done
But rejected
Asked the reason they told due to internal policy and apply after six months
Lodged the compliant to RBIO got the response from bank with a reason which is not true
RBI also closed the complaint.
six months are going to complete next month let see what happens

At 11L what is the % of ur total credit limit (all CCs +loans) to ur annual salary?

 

[Strange]

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

RBI ke order se hi SBI card ne over-leveraged policy banaya to fir RBI BO me complaint karne se kuch nahi hone wala. RBI ko bolo ye policy band kare.

 

[Boy 07]

At 11L what is the % of ur total credit limit (all CCs +loans) to ur annual salary?

Annual income which was reflected by RBL in my Cibil 8L

 

[ontherocks]

They will tell rejected due to overlevarage.
i think we all should file rbi complain for this sbi over leverage policy. 400-500 log tf pe hi hain over leverage plus twitter reddit sab jagah se same date pe complain karte hain rbi me 2-3000 complain ho jayengi tab shayad sbi walon ko samajh aaye ki bahut sare cards hone ka matlab ye nhi hai ki customer unhe pay nhi kar sakta.

This is not going to make them change their rules for card issuance. Their bank their rules. At the most RBI can do is, tell SBI cards to be transparent and publish the criterion for over leverage.

 

[b4bhar]

They took approx 10 days and replied via Email

Nothing mentioned about re-apply

they took my reconsideration request in the 1st week of Oct and still they are asking time for their final decision

 

[itzmycard]

They are ready to give credit limit increase but not ready to give new card. If it is overleveraged profile how are they processing additional limit ?

 

[drvirag]

They are ready to give credit limit increase but not ready to give new card. If it is overleveraged profile how are they processing additional limit ?

i even get pre aproved offers for new cards. we r not over leveraged for limit enhancement and pre aproved offers in the app.

 

[b4bhar]

This is not going to make them change their rules for card issuance. Their bank their rules. At the most RBI can do is, tell SBI cards to be transparent and publish the criterion for over leverage.

at least that helps righT?

 

[ontherocks]

at least that helps righT?

Definitely that helps. The problem is, if they tell to RBI, that the actual criterion is technical, internal, confidential, etc., etc., and that they are being transparent by telling customer that reason is due to over leverage which means more debt blah blah blah, RBI may not be able to make them disclose.
The other thing is SBI Cards is a private organization. You cannot even file an RTI.

 

[b4bhar]

Definitely that helps. The problem is, if they tell to RBI, that the actual criterion is technical, internal, confidential, etc., etc., and that they are being transparent by telling customer that reason is due to over leverage which means more debt blah blah blah, RBI may not be able to make them disclose.
The other thing is SBI Cards is a private organization. You cannot even file an RTI.

I know that sbi and sbi cards operate as separate entities but I think they ard still central govt employees, isn't it?

 

[itzmycard]

I think they ard still central govt employees, isn't it?

No. They are SBI & SBI Cards employees only

 

[Sahil_07]

Earlier my application was rejected twice because of overleverage issue, Then I have closed 5 credit cards.
Now I have 3 sbi cards,last one was approved yesterday.
Simlisave , Cashback and PhonePe with combined limit of almost 8 Lakh.
So just close few credit cards that you don't use.
You can always apply those later.

 

[b4bhar]

Earlier my application was rejected twice because of overleverage issue, Then I have closed 5 credit cards.
Now I have 3 sbi cards,last one was approved yesterday.
Simlisave , Cashback and PhonePe with combined limit of almost 8 Lakh.
So just close few credit cards that you don't use.
You can always apply those later.

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

 

[Sahil_07]

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

only possible in Icici

 

[✪ D&C Cards Connoisseur 💳]

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