Shocking Decrease in SBI's credit Limit!!

[Pujaari]

Hey folks, do yourself a favor and take a peek at your credit limit in SBI cards. You might be in for a rude awakening, like I was. They slashed my limit to such a low amount, I can barely afford a bag of peanuts. Literally. 🥜😂

4L to 14k😂. Just hoping its some technical glitch. Have mailed to cc anyways

 

[deep@vie]

Really would hope so, any substantive logic, evidence or argument to present this case ??

No evidence,seems a temporary measure to keep a check on manufactured spending.

 

[SSV]

No evidence,seems a temporary measure to keep a check on manufactured spending.

fair enough.. you would feel that the limits would be back to normal in due course... TIme only will tell...

 

[CARDBITRAGE]

State Bank of India holds 69.51% shares in SBI Cards but still they are not gonna invest or raise capital for their entity?

I'm not saying they can't/won't. It's a lot more complicated.

 

[rp0703]

This Case is not with everyone.

@pprakash11 also transferred limit from Click to Cashback but limits Across his cards are intact as it is.

Another parameter may be Utilization Ratio ?

My Utilization Ratio over past few months is constantly around 40%/Bill Cycle.

My utilisation was between 5 to 15% from last 5 months, still limit reduced.

 

[SSV]

No evidence,seems a temporary measure to keep a check on manufactured spending.

On an another note, I have DMed you regarding SC Ultimate card, could you please respond to that . Thanks

 

[CARDBITRAGE]

If one used to spend 2L for fee waiver.
Assuming 1L is flipkart spends or even 50k is flipkart spends.
User will get 5k or 2.5k minimum cashback.
That is far more than the 590rs annual charge.
For a highly rewarding like flip axis card even if there is no fee waiver condition, it still makes sense to use if one can spend 12k a year in flipkart.

True. But SBI CB just became a better value proposition, with a spend waiver of just 2L. So those who were achieving 2L spends will bid adieu to Axis FK.

 

[deep@vie]

On an another note, I have DMed you regarding SC Ultimate card, could you please respond to that . Thanks

Have replied

 

[deep@vie]

fair enough.. you would feel that the limits would be back to normal in due course... TIme only will tell...

Atleast for genuine customers,But as we all know SBI card being pathetic they might ask for payslips/ITRs for restoration of limit.

 

[CARDBITRAGE]

fair enough.. you would feel that the limits would be back to normal in due course... TIme only will tell...

Axis, Kotak, and most recently ICICI did the same thing. There was no change in the limits after the reduction. So the limit decrease may be here to stay.

 

[VISHESH_BANSAL]

Just Now Received SMS Intimation of Reduction in Limit

 

[shutapdiya]

Just Now Received SMS intimation

About limit reduction?

Any reason mentioned?

 

[fageriaji]

Axis, Kotak, and most recently ICICI did the same thing. There was no change in the limits after the reduction. So the limit decrease may be here to stay.

Yes you are right.
SBI doing this due to Cashback on their cashback card.
SBI wants to limit per month cashback on this card without doing new devaluation.

 

[Deleted member 16965]

Decreasing credit limit is fair enough and it's bank's ultimate decision that we have to abide it but what is not okay is decreasing the credit limit overnight without informing the customers. Atleast SBI could have informed with 1 month notice in advance regarding limit reduction so that everyone could have planned accordingly regarding the spending for that particular month.

 

[Strange]

Just Now Received SMS Intimation of Reduction in Limit

can you share that sms' screenshot?

 

[SSV]

Axis, Kotak, and most recently ICICI did the same thing. There was no change in the limits after the reduction. So the limit decrease may be here to stay.

I too think so.. Let's wait.. They are doing with some specific purpose..

 

[srichaitanya]

got official sms from SBI card regarding the revised credit limit. It says, "dear cardholder, as part of our regular process, we have reviewed your credit card performance and have adjusted your credit limit. The revised limit for your card ending with xx is xxxxx"

 

[Walter White]

Just Now Received SMS Intimation of Reduction in Limit

Tumhara bhi CB card hai?

 

[pprakash11]

Just Now Received SMS Intimation of Reduction in Limit

Screenshot?

 

[VISHESH_BANSAL]

About limit reduction?

Any reason mentioned?

 

[Strange]

How do they calculate credit card performance?