SBI Credit Card Payment Issue

[rocky15]

Since yesterday i am noticing that i can not make payment to SBI card more than amount of last statement. Suppose my total credit limit is 1 L and last months total due is 25k and if i have already paid 25k and again utilised 50k, so now limit available is 50k. If i want to make a txn of 60k after paying 10k i can go ahead as per earlier time but currently the payment of last 10k is not getting credited to sbi card account. can someone confirm if its true or i am the only one facing these. i dont know why are they desisting customer to spend during such sale events. pls confirm

 

[Praveen05]

Yes, sbi card won't allow overloading your credit card. You can only load upto 5% over and above your total limit. You may refer to the news article for the reason.

Banks don't want you to overpay card dues

In a bid to curb efforts at money laundering and fraud, banks issuing credit cards are either blocking customers from paying an amount more than their current outstanding or refunding any excess amount paid into credit cards. A bank spokesperson said since a credit card is a lending product, not...

economictimes.indiatimes.com

 

[rocky15]

It indirect restricts you to spend not more than your credit limit in a billing cycle, are every one facing it or just few like me. Earlier the bill payment to sbi reflected instantly but now they are rejecting payments due to this

 

[Nishan11]

It indirect restricts you to spend not more than your credit limit in a billing cycle, are every one facing it or just few like me. Earlier the bill payment to sbi reflected instantly but now they are rejecting payments due to this

You got the refund of 10k to your original payment mode ? How much time it took ?

 

[RAMESH BABU N]

.
GoI/MoF/RBI CHANGED RULES LAST MONTH.

YOU CANT DO SO ANY LONGER

 

[NShah]

You got the refund of 10k to your original payment mode ? How much time it took ?

You have to place a request for refund in sbicard app
It takes 24 hours

 

[aceventura]

.
GoI/MoF/RBI CHANGED RULES LAST MONTH.

YOU CANT DO SO ANY LONGER

Meaning this is going to affect all cards, not just SBI?

 

[aceventura]

Since yesterday i am noticing that i can not make payment to SBI card more than amount of last statement. Suppose my total credit limit is 1 L and last months total due is 25k and if i have already paid 25k and again utilised 50k, so now limit available is 50k. If i want to make a txn of 60k after paying 10k i can go ahead as per earlier time but currently the payment of last 10k is not getting credited to sbi card account. can someone confirm if its true or i am the only one facing these. i dont know why are they desisting customer to spend during such sale events. pls confirm

I dont understand this. Your credit limit is 1L
Last month total due is 25K, so credit limit becomes 75K
You pay back 25K, credit limit should go back to 1L
Utilised 50K, credit limit becomes 50K
You pay back 10K, then credit limit becomes 60K, then you should be able to make a 60K purchase no?

Are you saying credit limit does not raise to 60K after you pay the 10K?

But as per the ET article, it is mostly referring to having negative balance, ie. more than the overall sanctioned credit limit, not the variable credit limit during the cycle. In fact, the article states "Bankers say that such customers can make payments soon after their purchase".

The only reason I can see is the 10K that you had paid is not yet settled with the bank and credit limit not adjusted back to 60K yet. Do check and let us know.

 

[aceventura]

It indirect restricts you to spend not more than your credit limit in a billing cycle, are every one facing it or just few like me. Earlier the bill payment to sbi reflected instantly but now they are rejecting payments due to this

I paid on Sep 30 to reduce the outstanding bill before the statement generation date, and faced no problem.

 

[scn]

You have to place a request for refund in sbicard app
It takes 24 hours

@NShah , do we still need to place a request or sbi do the reversal automatic

I paid the exact same amount as per my current outstanding (transaction still not settle), not excess but paid to current utilization to 0. Sbi still stopping me to pay that, then I paid through amazon pay, transaction is successful but sbi do not process the transaction

 

[gopal6189]

I paid my total due 74761 via sbi card mobile app transaction was success but outstanding balance not updated..... will they credit the amount in card or refund the amount ....