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

 

[Wealth is my birth right!]

Not for me 🙁

I am also not lucky to get back CL

 

[niks]

My other SBI card limit is restored (Gold & More Card). But Cashback card limit is not restored

 

[rp0703]

My SBI CB Card CL - RESTORED.

Back to normalcy.

Check your account/cards.

Nope. Still the same.

 

[RAMESH BABU N]

Doing on a case-by-case basis ?

Probably, yes.

 

[vinrey287]

What is the card variant that's restored?

Doing on a case-by-case basis ?

Probably, yes.

 

[R0H17]

My SBI CB Card CL - RESTORED.

Back to normalcy.

Check your account/cards.

It's still showing decreased limit for me.

 

[SSV]

I am also not lucky to get back CL

Did you mess around with your CB cards limit by transferring some limit from any other card sir ?

 

[Slayer]

Today I received this Spend Based offer for Cashback SBI.

Is it a mere coincidence or SBI sent this offer to everyone after reducing their Cashback Card limits ?

Lodu mein toh 15 din pehle yeh SMS bheja tha

 

[SSV]

Mera limit katega😱

But what was the condition?🫢

If I understand your question correctly..
If you have ever transferred any other cards limit to CB card limit then, your CB card limit will face the axe, otherwise mostly safe, that is the theme of SBI this month as part of their 25 years Silver Jubilee Celebrations

 

[VISHESH_BANSAL]

Lodu mein toh 15 din pehle yeh SMS bheja tha

Humara taza tza kaata hai na, toh mahalum lga rahe hai.
Nhi toh mujhe bhi 15 din phle hi bhejhte.
Suddenly kyu eligible bna diya .

 

[Slayer]

Humara taza tza kaata hai na, toh mulum lga rahe hai.
Nhi toh mujhe bhi 15 din phle hi bhjete.
Suddenly kyu eligible bna diya .

Same campaign base hai kyonki mere wala ka end bhi sg5 hi hai

Anyway Zomato ka voucher September mein add karna kyonki existing wallet RBL ke sath band hoga

 

[SSV]

Not for me 🙁

Welcome 🙏 to Silver Jubilee Celebrations is what SBI is saying here ..
For the reason, Please refer to my previous posts...

 

[SSV]

Not for me 🙁

It is an unfortunate situation for a genuine customer but in order to weed out the naughty guys, they had resorted to this action.
However, I am sure once the dust settles , you can claim back some/most of your CL based on your credit profile like Ramesh Babu sir..

 

[SSV]

Doing on a case-by-case basis ?

Probably, yes.

Sir, your source might have confused you..
If it is case-by-case, then it is only a one off correction for that customer and not called running the script which is aimed for mass update..
Still thanks for the info..

 

[RAMESH BABU N]

If I understand your question correctly..
If you have ever transferred any other cards limit to CB card limit then, your CB card limit will face the axe, otherwise mostly safe, that is the theme of SBI this month as part of their 25 years Silver Jubilee Celebrations

Wrong.
My SBI CB card limit was low initially. 2L limit was transferred to this card from my Staff Card (out of 5 lakhs) n within a week closed it. 2 days back, the CL was reduced.
Today, the LIMIT is restored.
So, your assumption was not exactly correct.

 

[srichaitanya]

My credit limit was restored for Simplyclick CC but not restored for Cashback CC.

 

[RAMESH BABU N]

I presume that the Cashback card's limit was/is being restored to those users who were using the card primarily for direct payments n for only personal use. Not using the card for non-personal use - like commercial use or for buying items n goods n services for commercial trading - might be the reason why the limit is not being restored. Top up of wallets - only to get cash back here n from the wallets later - is one more reason.
BTW, HOW MANY OF US ARE SHOWING THE CASH BACK INCOME IN OUT IT RETURNS ?
Last month, IT Dept was very busy talking to ALL banks n this could be the result of that meeting or directions. Expect more such pruning measures.....

 

[akshayhs]

Itna environment kyu hi sambhalna - we have customers to test the product - chlo production

This is literally how my previous employer operated. It happens when the product owner wants results now but cannot wait for proper testing. Even now I am 100% confident the production apps have bugs in them.

 

[RAMESH BABU N]

Say, If your IT Returns show an income of 3-5 lakhs - net taxable income - where is the justification for having a CL of 5L+. And, it is pure common sense to see exactly how many cards does one have n what is the total overall limit of all these cards - Thru CIBIL.

 

[imdjay]

Say, If your IT Returns show an income of 3-5 lakhs - net taxable income - where is the justification for having a CL of 5L+. And, it is pure common sense to see exactly how many cards does one have n what is the total overall limit of all these cards - Thru CIBIL.

This statement doesn't make any sense.
Credit is a liability and should not be directly linked to one's annual income as 1:1. The income should only be indicative. Other things considered are his overall wealth and the behavioral responsibility of paying off any loan or other debt.

As per your statement, No loan greater than a person's annual income should be granted.