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

 

[Strange]

Last time it had happened in 2020. My limit came down from 6 lakh to 1.5 lakh. I closed my Ola & Simply Click card immediately !

So currently you don't have any SBI CC?

 

[VISHESH_BANSAL]

Or ask retention team to restore limit?

They had already stopped limit transfer facility, and I think for this day they had stopped this facility.

I do not think they will entertain such request, since it is done at mass level, so the decision looks like a Firm decision

 

[4uziaul]

Nowadays every bank wants to come in headlines. Jaise hi ek bank ka devaluation hota hai, dusra wala line me khada milta hai saying "Jaldi Waha Se Hato".

Even they need to stay relevant in the news. I'm sure SBI employees in this forum can't be happy seeing Axis grabbing all the attention.

 

[4uziaul]

Recently ICICI & RBL had done this. But on very small scale.

Woh testing tha

 

[CardSeeker]

I

Are they gonna charge you for over limit?

If they charge straight away complaint to RBI

 

[Wealth is my birth right!]

Recently ICICI & RBL had done this. But on very small scale.

Lucky in ICICI myself
Didn’t got reduced
Happy for not a part of that small scale

 

[srichaitanya]

Decreased from 6 lakhs to 60k

Last 2 months billed amount was approximately 60k. SBI wants us to hit 100% credit utilisation on their cards.

 

[Arun Pratheep]

My SBI Simplysave limit has not been reduced. Its 2.54 lakhs itself.

Have very minimal usage on this card

 

[rajat30]

Roz ek naye bank ka drama. HDFC customers smiling in a corner + shaking inside

 

[pprakash11]

No change on my SBI CB, SBI VP !!

 

[anonymuos]

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?

 

[VISHESH_BANSAL]

No change on my SBI CB, SBI VP !!

Click ?
Tujhe toh special treatment mili thhi 10k toh 61k

 

[pprakash11]

Click ?
Tujhe toh special treatment mili thhi 10k toh 61k

Wo bhi intact hai.
No changes for me.
Probably sare cards use nahi ho rahe jyada isliye

 

[pprakash11]

@Slayer Your status?

 

[imdjay]

and here they want me to start spending

 

[CMGCMG is verified member.]

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."

 

[D₹V]

They had already stopped limit transfer facility, and I think for this day they had stopped this facility.

I do not think they will entertain such request, since it is done at mass level, so the decision looks like a Firm decision

Aapka bamboo kahan gaya?

 

[TechnoFinoTechnoFino is verified member.]

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

 

[Deleted member 16965]

Any limit above 1l is useless as 5% cashback has capping of 5k now

Nahi bhai over 1 lakh limit is good to some extent.... Bought Mac from Apple Online store and got 5% cashback..... Other cards would have given peanuts in the form of cashback

 

[D₹V]

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