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Shocking Decrease in SBI's credit Limit!!

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Pujaari

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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
 
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hackymanoj said:
Received this message few mins back. This is cashback card and I have adjusted limit 3 months ago

Dear Cardholder, as part of our regular process we have reviewed your credit card performance and have adjusted your credit limit. The revised credit limit for your card ending with xx is Rs. 83000 - SBI Card
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Thanks for your input and confirmation. This asserts that the one that played with CB card's CL got the axe....
 
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TechnoFino said:
The bank can decrease the limit if they find a customer's profile risky. We can't fight this step of SBI card, but we can request SBI Card to reevaluate our profile and check if they can restore the old credit limit.

So it's advised that everyone who is affected by this step emails SBI Card and requests a reevaluation.

If they reject your request, I'm afraid there is nothing more we can do.
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They should give some NOTICE though, and time to pay up the current balance. I think it is plain wrong to decrease limit without warning to a level that makes a card overcharged, like they have done with @CardSeeker for instance. This can make an otherwise responsible borrower look like a maniac to credit bureaus and to other lenders.
 
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srikant said:
They should give some NOTICE though, and time to pay up the current balance. I think it is plain wrong to decrease limit without warning to a level that makes a card overcharged, like they have done with @CardSeeker for instance. This can make an otherwise responsible borrower look like a maniac to credit bureaus and to other lenders.
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The problem is now the bank will be levying overlimit charges on people which is unethical.
 
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srikant said:
They should give some NOTICE though, and time to pay up the current balance. I think it is plain wrong to decrease limit without warning to a level that makes a card overcharged, like they have done with @CardSeeker for instance. This can make an otherwise responsible borrower look like a maniac to credit bureaus and to other lenders.
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Walter White said:
The problem is now the bank will be levying overlimit charges on people which is unethical.
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100% agree, if someone take on them, they have a case here...
They could decrease the limit as they want and when they want, If the precursor to the levying some sort of fee is because of the banks actions then the levy of the fees should not hold ground... as customer's actions are not responsible here to breach those condtions for the levy of fees purposes...
 
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No change in limit in my SBI Prime card...3.3 Lakhs.Though i had twice requested them to close the card as i hardly use it.They gave me 10K bonus points (appx 2.5K - Rs 99/- redemption charges) against the renewal fee which they refused to waive off...I started with SBI Air India Signature to SBI Elite and finally got it downgraded to Prime each time on my request.Length of relationship is appx 10 Yrs.
 
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anonymuos said:
So far SimplyCLICK limit intact at 1.7L. Was 1L at issuance, then 1.3L, then closed the card, they begged to get it re-issued. But this is not done. They don't respect customers at all. What if people mass-threaten to close their SBI cards? Will that work to restore the limit?

Which other banks reduce limit like this besides SBI and RBL?
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I think we should do mass threaten to close their cards. This kind of arrogant attitude is reason for downfall of many big business houses. SBI CB was the only good card till now, recently they limited the cash back now another with arbitrary reduction of credit limit. Recently I could get my BPCL fees and tax reversed and this happened for CB card from 2.30 lacs to 97k. I have spent more than 4 lakhs in last 7 months
 
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My SBI club vistara prime card's limit reduced from 4L to 2.75L. I've been spending ~50k per month and have always paid bills on time. Having SimplyClick as well for several years which I don't use much now.

All these banks have gone mad these days.
 
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