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

 

[Rocky Bhai]

Waise @Walter White tumne to aate ki boriya bhar bhar k rakhi hongi sbi me as fd credit card k liye 🤣

 

[Walter White]

Waise @Walter White tumne to aate ki boriya bhar bhar k rakhi hongi sbi me as fd credit card k liye 🤣

Wahi boriya wala maal phook ke toh aise decisions leta hai SBI 😂

 

[Rocky Bhai]

Wahi boriya wala maal phook ke toh aise decisions leta hai SBI 😂

Chalo dono collab karte hai mera Sona aur tumhara powder 🤣

 

[fageriaji]

I think I am lucky. I got 1.8L to 2.24 L in my SBI Prime. 😊
But the customer care is really sucks... Calling 3-4 time daily to upgrade to SBI Elite card and telling me that Prime is useless and Elite is India's best credit card 🤣

I refused to upgrade it.

 

[souvikdey2002]

After reading this thread, I checked SBI Card App.

Saalo ne Click ki limit ko reduce nhi kiya, jo last Year diwali ke baad se use hi nhi hua, not even a single txn
50k intact as it is.

Cashback SBI actively use kar raha hu, limit decrease kar di.

But in my case only 20% Decrease
100k to 80k.

Bansal babu, yeh sab bolne se kya hoga
Bamboo ka business shuru kar do yaha pe bhi.

 

[SSV]

Bansal babu, yeh sab bolne se kya hoga
Bamboo ka business shuru kar do yaha pe bhi.

Credit Limit enhancement / decrease is absolutely at the discretion of the issuing Bank basis their risk apetite.. Even RBI can't do anything...

 

[fageriaji]

Sir please i want CL back let's do something 🙁

I think SBI is decreasing Credit limit on Cashback card to give less cashback.
This card is hotcake for CC lovers.
Also who are holding other card along with Cashback card getting limit decreased as per SBI strategy.

 

[VISHESH_BANSAL]

Bansal babu, yeh sab bolne se kya hoga
Bamboo ka business shuru kar do yaha pe bhi.

Situation Dekh ke Action liya jata hai.

Pagal Saand ki traha nhi lal rang dekha aur pichhe pad jao.

SBI aisi koi harkat karega jispe usko Bamboo ki dose chayie hogi toh Bamboo bhi karge.

 

[SSV]

I think it is a gift given to their loyal CC holders in remebrance of their Silver Jubilee Year celebrations on 25th July...😉😉

 

[Walter White]

I think it is a gift given to their loyal CC holders in remebrance of thier Silver Jubilee Year celebrations on 25th July...😉😉

View attachment 23766

Aj kal har bank limelight me rehna chahta hai 🤣

 

[kshitij_0]

Mine is still intact.
CB card 1.43L and Simplyclick 30k

 

[SSV]

I think SBI is decreasing Credit limit on Cashback card to give less cashback.
This card is hotcake for CC lovers.
Also who are holding other card along with Cashback card getting limit decreased as per SBI strategy.

Could be...

By reducing the CL on CB card, SBI could achieve the following:

1) Obviously reducing the proportion of risk exposure to the retail credit market and utilising this same share to acquire the new market in the form of the possible exodus of Axis CC customers as result of their recent devaluation... I doubt there could be that much exodus from Axis anway.. May be SBI is looking at this differently to me.

2) Even if people like me want to make big purchases beyond CL to get CB by prepaying the amount, the SBI is at a gain, beacuse they are getting money upfront and there is no need to wait for 50 days and better cashflows hence less costs...

3) SBI Cards is itself a very peculiar organisation whose business is solely issuing credit cards... Normally Bankers along with their normal banking business segments issue the cards as part of their one of their revenue streams. So a normal bank can recover the lost revenue(if any) in CC business from other activities and still report +ve results. Where as SBI Cards have to earn their income only thru Cards business and hence these tactics by SBI cards IMHO.

 

[Deleted member 16965]

Situation Dekh ke Action liya jata hai.

Pagal Saand ki traha nhi lal rang dekha aur pichhe pad jao.

SBI aisi koi harkat karega jispe usko Bamboo ki dose chayie hogi toh Bamboo bhi karge.

Abhi situation control mein hai...... aage bhaagne ki zaroorat nahi hai

 

[SSV]

Aj kal har bank limelight me rehna chahta hai 🤣

Sure , any commercial organisation with tough competition will do the same but they have to be very cautious while doing this though..
If it backfires then it takes a lot of time to recover the lost market.. There has to be some method to madness, which Axis didn't exercise recently...
The cushion that the Indian market players enjoy in any business compared to their western counter parts is: the Abundant Market size...( Indian market's potenteialty is HUGE) and hence these big companies can get away with some mistakes in their strategy without massive damage....

 

[Walter White]

Could be...

By reducing the CL on CB card, SBI could achieve the following:

1) Obviously reducing the proportion of risk exposure to the retail credit market and utilising this same share to acquire the new market in the form of the possible exodus of Axis CC customers as result of their recent devaluation... I doubt there could be that much exodus from Axis anway.. May be SBI is looking at this differently to me.

2) Even if people like me want to make big purchases beyond CL to get CB by prepaying the amount, the SBI is at a gain, beacuse they are getting money upfront and there is no need to wait for 50 days and better cashflows hence less costs...

3) SBI Cards is itself a very peculiar organisation whose business is solely issuing credit cards... Normally Bankers along with their normal banking business segments issue the cards as part of their one of their revenue streams. So a normal bank can recover the lost revenue(if any) in CC business from other activities and still report +ve results. Where as SBI Cards have to earn their income only thru Cards business and hence these tactics by SBI cards IMHO.

SBI Card profitable hai and kaafi acche numbers hai. Koi yeh bhi nhi hai ki losses ho rhe hai. Kuch din pehle inka CEO bol rha tha ki we are performing exceptionally well and will be expanding our operations into more Tier 2 and Tier 3 cities.

 

[SSV]

SBI Card profitable hai and kaafi acche numbers hai. Koi yeh bhi nhi hai ki losses ho rhe hai. Kuch din pehle inka CEO bol rha tha ki we are performing exceptionally well and will be expanding our operations into more Tier 2 and Tier 3 cities.

In that case, they want to climb up the ladder and cement their postion at the top of country's CC business as CC business is their only forte..
At no time I said they are in trouble... They just want to take this market conditons as an opportunity to attain their goal...

 

[rp0703]

Which is your 2nd SBI card? You got third card online or via agent?

First was SimplyClick with 27K Limit
Second was BPCL with 92K Limit
Third was SBI CB with 10K Limit

Later transferred limit to Cashback card from other cards. All cards were applied online.

 

[CARDBITRAGE]

Could be...

By reducing the CL on CB card, SBI could achieve the following:

1) Obviously reducing the proportion of risk exposure to the retail credit market and utilising this same share to acquire the new market in the form of the possible exodus of Axis CC customers as result of their recent devaluation... I doubt there could be that much exodus from Axis anway.. May be SBI is looking at this differently to me.

2) Even if people like me want to make big purchases beyond CL to get CB by prepaying the amount, the SBI is at a gain, beacuse they are getting money upfront and there is no need to wait for 50 days and better cashflows hence less costs...

3) SBI Cards is itself a very peculiar organisation whose business is solely issuing credit cards... Normally Bankers along with their normal banking business segments issue the cards as part of their one of their revenue streams. So a normal bank can recover the lost revenue(if any) in CC business from other activities and still report +ve results. Where as SBI Cards have to earn their income only thru Cards business and hence these tactics by SBI cards IMHO.

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.

 

[iAmPm]

Meanwhile me who was waiting for LE

 

[AritraSaha]

same my limit decreased from 4lakhs to 40000

already have 58000 outstanding and showing 18k as negative

Might get overspending fee.Lol