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).

 

[R_A_J]

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.

Do it from the app.....reduce limit of cards which you are not gonna use to 1 Lakh (it was showing as minimum 1L for me).....then once you able to get sbicard, change it back after 2-3 months

 

[AjinkyaDadoo]

Do it from the app.....reduce limit of cards which you are not gonna use to 1 Lakh (it was showing as minimum 1L for me).....then once you able to get sbicard, change it back after 2-3 months

Minimum credit limit I can set from mobile is 10 Lakhs. Not allowing less than that.Can change only spend limit.

 

[nikhilv0303]

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

I tried it 3-4 months back, but my CIBIL limit never got reduced
Hence took the extreme step to get approved limit itself reduced

 

[nikhilv0303]

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

I don’t even see option to reduce credit limit. Only option to reduce spend limit

 

[✪ D&C Cards Connoisseur 💳]

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.

First and foremost query - why you kept Coral active when you already have Rubyx? Now to address your queries, I assume Rubyx and Coral are 2 between those 4 cards, if so are all your 4 cards merged into one credit account showing same limit for all 4 and using only 1 reduces overall limit? If so, then don't worry and no need of decreasing limit for any specific card out of those 4, bcoz all 4 cards are merged into single a/c and only one entry will be there in Cibil with 12L limit.

 

[b4bhar]

First and foremost query - why you kept Coral active when you already have Rubyx? Now to address your queries, I assume Rubyx and Coral are 2 between those 4 cards, if so are all your 4 cards merged into one credit account showing same limit for all 4 and using only 1 reduces overall limit? If so, then don't worry and no need of decreasing limit for any specific card out of those 4, bcoz all 4 cards are merged into single a/c and only one entry will be there in Cibil with 12L limit.

I was told that as per CIBIL, they are reported as separate cards with 12L limit each even though they are shared cards? same goes for HDFC and AXIS.

 

[✪ D&C Cards Connoisseur 💳]

I was told that as per CIBIL, they are reported as separate cards with 12L limit each even though they are shared cards? same goes for HDFC and AXIS.

HDFC and Axis reports separately. But ICICI is different, if cards have shared limit, then they should be having one single account entry in Cibil. Go & check once in Cibil report how many entries ICICI have for CC in actual.

 

[cc_dc_explorer]

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

Can you try once more and let us know if you see reduced limit in CIBIL?

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

ICICI is showing to manage spend limit not credit limit.. when I decrease the limit the credit limit still shows intact, only the spend limit is getting updated. Are you guys sure it will reflect in CIBIL?

I did it with ICICI and IDFC banks successfully.

 

[b4bhar]

Can you try once more and let us know if you see reduced limit in CIBIL?




ICICI is showing to manage spend limit not credit limit.. when I decrease the limit the credit limit still shows intact, only the spend limit is getting updated. Are you guys sure it will reflect in CIBIL?

Idfc is successfully reflecting in cibil. I need t check this month's report for icici

 

[Boy 07]

HDFC and Axis reports separately. But ICICI is different, if cards have shared limit, then they should be having one single account entry in Cibil. Go & check once in Cibil report how many entries ICICI have for CC in actual.

In the CIBIL report, two separate accounts appear. If we have an Amazon Pay ICICI Credit Card, it will show as a separate account, and any other ICICI credit cards—such as the Coral card—will appear as separate accounts as well.

 

[✪ D&C Cards Connoisseur 💳]

In the CIBIL report, two separate accounts appear. If we have an Amazon Pay ICICI Credit Card, it will show as a separate account, and any other ICICI credit cards—such as the Coral card—will appear as separate accounts as well.

In that case limit is not shared. I have 6 CCs merged into one a/c in Cibil with shared limit. Rest 3 have separate limits and are having 3 separate accounts in Cibil which includes Apay. Shared limit means if I use any of those 6 CCs, then there will be a decrease in CC limit for all those 6 CCs in total. Hope this answer your query.

 

[romurdo]

I applied for the SBI Cashback Card but it was rejected due to over leveraged issue. I plan to apply again after the cooldown period.

Right now, I have a credit limit increase offer on my SBI BPCL card, and I’m unsure whether I should accept it. If I take the increase now, SBI might again mark me as over-leveraged when I apply for the Cashback Card, which could lead to another rejection.

My priority is getting the Cashback Card. The limit increase is secondary.

Should I accept the limit increase now, or skip it and apply for the Cashback Card first after the cooldown period?

 

[Himanshuch]

I applied for the SBI Cashback Card but it was rejected due to over leveraged issue. I plan to apply again after the cooldown period.

Right now, I have a credit limit increase offer on my SBI BPCL card, and I’m unsure whether I should accept it. If I take the increase now, SBI might again mark me as over-leveraged when I apply for the Cashback Card, which could lead to another rejection.

My priority is getting the Cashback Card. The limit increase is secondary.

Should I accept the limit increase now, or skip it and apply for the Cashback Card first after the cooldown period?

You are already over leveraged with lower SBI card limit. What changes do you plan to do before applying again after cool down period ?

 

[romurdo]

You are already over leveraged with lower SBI card limit. What changes do you plan to do before applying again after cool down period ?

My plan is: to not take the credit limit increase they are offering. Then, I will have more credit limit leverage with them, and have a better chance before applying again after the cool down period.

My assumption is:

1. They are considering me "under leveraged" currently
2. And that is why they are offering me increased credit limit exposure on my existing sbi card
3. Thus, disapproval due to over leveraged should not happen again

My question is: Is my understanding of over leveraged correct or am I missing something here and should just take the credit limit increase?

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Other changes I've done after previous sbi cashback card application rejection:

• Linked sbi card with Anumati portal for correct net worth
• Credit utilization is less than 1% of total credit limit across all cards currently

 

[ontherocks]

My plan is: to not take the credit limit increase they are offering. Then, I will have more credit limit leverage with them, and have a better chance before applying again after the cool down period.

My assumption is:

1. They are considering me "under leveraged" currently
2. And that is why they are offering me increased credit limit exposure on my existing sbi card
3. Thus, disapproval due to over leveraged should not happen again

My question is: Is my understanding of over leveraged correct or am I missing something here and should just take the credit limit increase?

---

Your understanding of over/under leveraged is wrong.

 

[Himanshuch]

My plan is: to not take the credit limit increase they are offering. Then, I will have more credit limit leverage with them, and have a better chance before applying again after the cool down period.

My assumption is:

1. They are considering me "under leveraged" currently
2. And that is why they are offering me increased credit limit exposure on my existing sbi card
3. Thus, disapproval due to over leveraged should not happen again

My question is: Is my understanding of over leveraged correct or am I missing something here and should just take the credit limit increase?

---

I dont think there is a term under leveraged in SBI. They reject cards if one is over leveraged which means multiple other cards and a very high over all credit limit.

So if your card was declined due to over leveraged issue, you cannot get SBI card without closing previous cards or reducing overall CL.

 

[Paras Jain]

So if i am holding 2 sbi cards, if I close one of then, can I get sbi cashback?

 

[Dr.AMAN]

So if i am holding 2 sbi cards, if I close one of then, can I get sbi cashback?

Overleverage rule has less to do with number of cards and has more to do with ur overall CC limit as compared to annual salary. U can have 2 SBI cards and still get a 3rd one easily if u r not overleveraged. Conversely if ur overall CC limit has increased drastically since ur last SBI CC application (due to other banks' CCs), then closing that SBI CC could be suicide. U may lose that card and never be able to apply for it again due to overleverage. Just work on reducing ur overall CC limits by closing/reducing limit of unnecessary credit cards in ur portfolio

 

[SSV]

So if i am holding 2 sbi cards, if I close one of then, can I get sbi cashback?

No...
If you are considered overleveraged as per SBI system based on your overall cibil profile then even if you close all the sbi cards you won't get SBI card..

 

[ontherocks]

So if i am holding 2 sbi cards, if I close one of then, can I get sbi cashback?

SBI doesn't have a limit on the number of cards one can hold. So, that's not a deciding factor. Never close an SBI card. Try to apply for cashback card without closing any SBI card. If you want to close, close some other bank's card.