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

 

[Saarthak Parihar]

Just ask them on that same email.

This is what they replied with 😂

 

[Saarthak Parihar]

Did you have over limit transactions turned on?

I did this now. My limit is 27K and I had to make a purchase worth 87K. Loaded the card over the limit and the transaction went fine.

 

[IKFLRT]

Did you have over limit transactions turned on?

No. Simply put more money in your credit card and place the order. The transaction should go fine as long as your card has the sufficient money.

I've done this with Axis Flipkart in the past. Now done with SBI as well.

 

[IKFLRT]

The transaction I did on 9th Aug worth 87K got settled today, from what I can see in the app. But I did not receive any cashback against it. Neither do I see that transaction in spend analyser.

When I called up the customer care, they say the transaction is unprocessed as of now. I do not understand. I do see it in settled window in the SBI CARD app but as per customer representative, it is yet to settle.

Anybody have had this issue?

 

[s73uresh]

Probably, SBICARDS is reducing the CL of those who have RECENTLY taken new card(s) from other issuers. That could be a major reason.
Another reason could be unreasonably high turnover on their (SBICARDS) cards to get max cashback/rewards/benefits - as compared to the competitive card issuers. Limiting their cashback outflow.
Combined CLs of ALL cards could be very high - when compared to the declared income levels in ITRs - remember that IT Dept is using AI tools n they are sharing their info with/from banks now on-the-fly.
One more reason - too many cards - per user.

Sir, your points are valid,but having too many cards looks not a right point to reduce limits. If the bank wants to reduce limit just because they don't want to give cashback then they should not have issued the card at all or allow moving credit limits between cards and this policy is unfair. I have written to customer care and will report to rbi ombudsman after 30 days of no response. Both rbi and sbi are in nexus and rbi support sbi. This is evident from the fact when my card got blocked, rbi closed the complaint quoting I have to wait for 30 days to raise with them,but same day I got 2 calls from mobile number from sbi rep quoting they are talking with reference to my rbi complaint telling the card is unblocked. Infact after close to 30 days they unblocked. So rbi complaint works in informal way as they don't want to show more complaint in their log, similar to how police refuse to register FIR, so records show no crimes reported

 

[s73uresh]

Unfortunately, there is nothing you can do about it. Banks have right to increase/decrease CLs at anytime basis their internal policy. But as of now they need customers' consent before increase.
It would be nice to have prior intimation in the case of CL decrease as well.

However, if credit utilization is the main concern for you, then there are two options
1) Apply for CE basis your income documents. The decision in this regard is completely at the discretion of SBI
2) you always have an option of closing the card which I'd making your credit utilization high..

Wait ...

you have another option, pay the bill before the bill generation..

I pay bills well before time and sent income documents and other card higher limits but no response till now

 

[kumars_001]

my SBI TATA Card limit of 200K still intact

I see you are a sbi tata card user. Do you know how to apply add on cards online with adhaar authentication just like other add on cards?

 

[krishc]

I see you are a sbi tata card user. Do you know how to apply add on cards online with adhaar authentication just like other add on cards?

nope man, never tried
but I'll check if any option available in online portal

edit : checked and there is an option available on online portal, under services - request add-on card
didn't try personally but you can give it a try

 

[kumars_001]

nope man, never tried
but I'll check if any option available in online portal

edit : checked and there is an option available on online portal, under services - request add-on card
didn't try personally but you can give it a try

Yeah.. it never worked. And those customer care people are never helpful.

Ifnyou have sbi savings account and Yono app, could you pls check if add on card application option available on Yono?

 

[krishc]

Yeah.. it never worked. And those customer care people are never helpful.

Ifnyou have sbi savings account and Yono app, could you pls check if add on card application option available on Yono?

Tata Cards don't show up in Yono
it's a bit strange kind of co-branding arrangement

 

[Tejo]

Tata Cards don't show up in Yono
it's a bit strange kind of co-branding arrangement

Sbi tata cards are not just cobranded cards.

SBI tata cards are of TATA Capital (nbfc), sbi just only issue the cards (unlike neu cards), might now whole things are being carried out by sbi cards.

 

[AllThatStuff]

I intially had SBI FBB card with limit 3.13L. Got new SBI cashback card limit 10k (lolz 🤣 )
Got 2.73L limit of FBB card transferred to Cashback card.
But then in March this year, limit transfer facility was stopped, hence my FBB card is stuck with limit just 40k.
And then, limit of Cashback card was also reduced to 1.6L in July.
All my requests to limit enhancements on FBB card are getting rejected!! 😐

 

[D₹V]

I intially had SBI FBB card with limit 3.13L. Got new SBI cashback card limit 10k (lolz 🤣 )
Got 2.73L limit of FBB card transferred to Cashback card.
But then in March this year, limit transfer facility was stopped, hence my FBB card is stuck with limit just 40k.
And then, limit of Cashback card was also reduced to 1.6L in July.
All my requests to limit enhancements on FBB card are getting rejected!! 😐

Still fine 🤣

 

[PaneerButterMasala]

Anybody able to get the limit increased again?

 

[Avangerritesh]

Yes got it before 2 days, limit increased from 1.3lakh to 1.69 lakh by sending sms

Anybody able to get the limit increased again?

 

[PavanPavan is verified member.]

I wanted to close SBI cashback (i was not 100%) just spoke to agent and he said he will arrange a call bcak (Surprisingly never seen such a good agent from SBI) i got a call they asked the reason i told limit is decreased and i was not given proper reason
Agent told me he can offer SBI cashback LTF and i said YES

now my all SBI cards are LTF 😛

So guys give a try

@VISHESH_BANSAL

 

[shutapdiya]

I wanted to close SBI cashback (i was not 100%) just spoke to agent and he said he will arrange a call bcak (Surprisingly never seen such a good agent from SBI) i got a call they asked the reason i told limit is decreased and i was not given proper reason
Agent told me he can offer SBI cashback LTF and i said YES

now my all SBI cards are LTF 😛

So guys give a try

@VISHESH_BANSAL

Welcome to the SBI Cashback LTF club

 

[PavanPavan is verified member.]

Welcome to the SBI Cashback LTF club

Thank you
Seems way this is going SBI cashbcak will be devalued soon
Now even they are not approving easily and most of them wo have good spesnds are getting LTF 😛

 

[shutapdiya]

Thank you
Seems way this is going SBI cashbcak will be devalued soon
Now even they are not approving easily and most of them wo have good spesnds are getting LTF 😛

Is card ka devaluation to @Abhishek012 ke hathme hai, jb unka man hua tab karwa dege
And yes definitely it is coming soon


Check last few pages in below thread lot of people got it converted to LTF recently with this method

@jack333 ko to double fee reversal bhi mila hai

Thread 'Pro Tips to make a SBI card life time free' https://www.technofino.in/community/threads/pro-tips-to-make-a-sbi-card-life-time-free.10592/

 

[gamersgzb]

I wanted to close SBI cashback (i was not 100%) just spoke to agent and he said he will arrange a call bcak (Surprisingly never seen such a good agent from SBI) i got a call they asked the reason i told limit is decreased and i was not given proper reason
Agent told me he can offer SBI cashback LTF and i said YES

now my all SBI cards are LTF 😛

So guys give a try

@VISHESH_BANSAL

Did you cleared your due and then called them or left the due in case they didn't offer something and you wanted to keep the card?