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

 

[RAMESH BABU N]

Finally a positive response from the team

Is this also BAKWAS for some?

 

[RAMESH BABU N]

It seems SBI is started restoring the credit limit back. Mine was changed from 3.53 l to 1.27 but today I received a message that limit was reduced in error and same has been reinstated.

Again, one more BAKWAS.... for some.

 

[PavanPavan is verified member.]

For me i got message saying 🙁

View attachment 24076

In between ICICI bank incresed my credit card limit by 100% Stanc issues me two new cards 🙂 So SBI cashback might go away soon for me
I will keep there OLA card since it is LTF

 

[John123]

Again, one more BAKWAS.... for some.

Sigma Uncle 😅

 

[hackymanoj]

Did they say anything like:

No, they haven't. I think they will restore my limit considering the relationship and credit history.

 

[RockyBond]

I neither got sms when limit waa reduced
I had to manually check from Sbi app
Neither my limit restored again

 

[srichaitanya]

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

Credit limit restored for Cashback CC also now. SBI just playing games. CL reduced and restored in 2 days.

 

[IKFLRT]

Credit limit restored for Cashback CC also now. SBI just playing games. CL reduced and restored in 2 days.

did you write any email or had a call with their customer executive? For me they bluntly said it's because of "Internal risk factor". Not sure if they have said the same for others as well and despite, people had their limit restored.

 

[CardSeeker]

Credit Limit Restored From 40K To 4,00,000 Now

 

[srichaitanya]

did you write any email or had a call with their customer executive? For me they bluntly said it's because of "Internal risk factor". Not sure if they have said the same for others as well and despite, people had their limit restored.

No, did not contact customer care.

 

[RAMESH BABU N]

As per the SOP, and as suggested by RBI, all Credit Card issuing entities must review the Contingent risk factor, for every customer, at periodic intervals.
Many do follow this, but in breach.
RBI (and the ITD too) is reiterating this quite often - and now insisting - because of increased defaults n vanishing users.

 

[niks]

My credit limit on Cashback card is restored as well. In fact not just restored, it is increased to higher than what it was before 😂

 

[RockyBond]

My credit limit on Cashback card is restored as well. In fact not just restored, it is increased to higher than what it was before 😂

Still not done for me. When was it restored for you

 

[niks]

W

Still not done for me. When was it restored for you

Woke up today morning & it was increased

 

[RockyBond]

W

Woke up today morning & it was increased

Did you get any sms for limit restore or you checked manually on app?

 

[niks]

Did you get any sms for limit restore or you checked manually on app?

Checked manually. I had got limit decrease SMS for both my SBI cards. And then subsequently got limit increase SMS on my other card. But that was also few hours "after" the actual increase. Haven't got any SMS yet but will possibly get it later during the day

 

[Strange]

increased to higher than what it was before

Increase percentage?

 

[niks]

Increase percentage?

I had 2.5L limit across my 2 Cards - 1L on Gold & More & 1.5L on Cashback (This is after I had received Cashback card with paltry 20k limit and transferred some limit from my old Gold & More card to Cashback)

It was cut down to 25k - both cards in total put together 🙂

Now my 1L is restored on Gold & More and I got 2.5L on Cashback 🙂

 

[PavanPavan is verified member.]

Still not done for me. When was it restored for you

Am still with you 🙁 i was kind devastated by the move

 

[Deleted member 16965]

Am still with you 🙁 i was kind devastated by the move

Same here. LE restoration still not done.