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

 

[CardSeeker]

Might get overspending fee.Lol

let's See

 

[hks789]

To your first point, the 3.5L spend limit for a fee waiver on the Axis FK CC is a huge hit on their star product. The majority of the users(maybe lower income group) who have this card will now contemplate getting SBI CB. To put things into perspective, Axis has over 2M active users on their Axis Flipkart CC, and even a 10-20% attrition will be a huge number.
And to your last point, since SBI Cards' was demerged from the banking entity, it is harder for them to raise capital now. By reducing CL, they can distribute the capital amongst existing and new users. Moreover, raising new capital all of a sudden would be difficult, so this would be the perfect solution.

If one used to spend 2L for fee waiver.
Assuming 1L is flipkart spends or even 50k is flipkart spends.
User will get 5k or 2.5k minimum cashback.
That is far more than the 590rs annual charge.
For a highly rewarding like flip axis card even if there is no fee waiver condition, it still makes sense to use if one can spend 12k a year in flipkart.

 

[Strange]

SBI Cards' was demerged from the banking entity, it is harder for them to raise capital now.

State Bank of India holds 69.51% shares in SBI Cards but still they are not gonna invest or raise capital for their entity?

 

[Strange]

Meanwhile me who was waiting for LE

Since September.

 

[SSV]

To your first point, the 3.5L spend limit for a fee waiver on the Axis FK CC is a huge hit on their star product. The majority of the users(maybe lower income group) who have this card will now contemplate getting SBI CB. To put things into perspective, Axis has over 2M active users on their Axis Flipkart CC, and even a 10-20% attrition will be a huge number.
And to your last point, since SBI Cards' was demerged from the banking entity, it is harder for them to raise capital now. By reducing CL, they can distribute the capital amongst existing and new users. Moreover, raising new capital all of a sudden would be difficult, so this would be the perfect solution.

Agreed to all your points..

Point 1) Market factors in a lot of things even before we conemplate those.. Market is extremely fluid..
SBI played their best game in the CB card segment in the form of CB card and trumps their competition with a big margin and this started happening almost a year ago... So it is not new.. people already know their alternative to FK AXIS card and APay card almost a year ago. Specially in the case of FK card, people know that there is nothing special about FK card and started acquiring and using SB card in lieu of FK card and hence there won't be any massive Exodus...
Emotions ride very high intially and subsides quite quickly as well. Most of the active market participants know that FK card was useless about 6 months ago, if not more.

Last point) we both are expressing the same opinion in a different view.... More here

Shocking Decrease in SBI's credit Limit!!

SimplyClick Unchanged BPCL Unchanged SBI CB 100K to 41K Which is your 2nd SBI card? You got third card online or via agent?

www.technofino.in

 

[SSV]

Meanwhile me who was waiting for LE

Since September.

Me too, probably we should be happy now if there is no Credit Limt CRASH for us...

 

[harsh1387]

I got the SBI Elite card last year with limit of 171000.
Received a mail couple of days back for increase in limit to 222000 which I aceepted. Just checked and limit is intact at 222000.

 

[iamabhisekagar]

Me too, probably we should be happy now if there is no Credit Limt CRASH for us...

My Credit limit is intact though I would have to check my father's Simplyclick CC

 

[sri222]

Are they decreasing it because of non-usage of card or more usage ?

or is it random ?

I have Ola SBI card with 2L limit, didn't use the card for 5 months. For now, no decrease in limit.

Recently I got an offer,
Spend Rs. 20000 or more with your credit card ending with 1234, between 19Jul23 and 12Aug23 and get Lifestyle Gift Voucher worth Rs. 1000.

 

[Deleted member 16965]

The main reason for decrease in credit limit could be over exposure of Total Available Limit in CIBIL. Although many cards are sharing credit limits with each other but CIBIL shows credit limit as separate for each card which makes Total Credit Limit go beyond the Income and in-turn makes it as a risky customer.

 

[sv004]

I think its affecting those who had increased limit by applying and closing other cards

 

[Dhm66]

Mostly limit is decreasing in SBI Cashback card.

Yupp.. simply click, cashback and Bpcl cards are affected of this CL HOLOCAUST🥴👻

 

[SSV]

Yupp.. simply click, cashback and Bpcl cards are affected of this CL HOLOCAUST🥴👻

I have 2 out of those 3 cards... Lets see if there will be an axe on those or not, At the moment safe... nothing guranteed though...

 

[aashuuuu]

Anyone who got their limit decreased by any change did their ReKyc recently?

 

[RkrRkr is verified member.]

I have also in the list of decrement..Reduced fro 1.6L to 1.37L
.

Jyada nahi 23k ka hi kiya hai...😆😆

 

[RkrRkr is verified member.]

I have 2 out of those 3 cards... Lets see if there will be an axe on those or not, At the moment safe... nothing guranteed though...

Lucky group...🤣🤣

 

[SSV]

I have also in the list of decrement..Reduced fro 1.6L to 1.37L
.

Jyada nahi 23k ka hi kiya hai...😆😆

Escaped with a slight shave...I think you still are good, compared to others clean shave..

 

[Dhm66]

I have 2 out of those 3 cards... Lets see if there will be an axe on those or not, At the moment safe... nothing guranteed though...

Most probably priME, eLITe and auRUM card holders aren't gonna face this situation, but it's SBI... KUCH BHI HO SAKTA HAIN MiTROn.

 

[SSV]

Most probably priME, eLITe and auRUM card holders aren't gonna face this situation, but it's SBI... KUCH BHI HO SAKTA HAIN MiTROn.

I think it is just now a waiting game, there is nothing that we can do on our part except severing the relationship which I don't think is warranted now ...
SBI CB card rules this segement hands down.. CB card is KING in CB world....
Except for CB card and some other basic card(for 10% offers) , there is nothing special about other SBI cards anway...

 

[jade]

My limit is still intact.