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Shocking Decrease in SBI's credit Limit!!

Pujaari

TF Select
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
 
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 believe they can reduce it under II 11 (b), but they have to notify the user.

"Card-issuers shall not unilaterally upgrade credit cards and enhance credit limits. Explicit consent of the cardholder shall invariably be taken whenever there is/are any change/s in terms and conditions. In case of reduction in the credit limit, the card-issuer shall intimate the same to the cardholder."
 
I believe they can reduce it under II 11 (b), but they have to notify the user.

"Card-issuers shall not unilaterally upgrade credit cards and enhance credit limits. Explicit consent of the cardholder shall invariably be taken whenever there is/are any change/s in terms and conditions. In case of reduction in the credit limit, the card-issuer shall intimate the same to the cardholder."
True... it's for increasing limit
 
I believe they can reduce it under II 11 (b), but they have to notify the user.

"Card-issuers shall not unilaterally upgrade credit cards and enhance credit limits. Explicit consent of the cardholder shall invariably be taken whenever there is/are any change/s in terms and conditions. In case of reduction in the credit limit, the card-issuer shall intimate the same to the cardholder."
SMS pack khatam hoga inka intimate krne ke liye 😭😭
 
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