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

 

[plastikman]

T

My SBI CB card limit reduced to 15K from 2.2L. Strange. No calls, no SMS, no eMail. Stupid way to deal.

Only last month, I closed my PAYTM-SBI VISA card (3.85L limit) as the SBICards have refused to flip it for a RuPay card.

From 6 lakhs combined to 15 thousands. Time to leave SBI cards forever. Sent an email today.

If this is the treatment for a former Senior Official of SBI, I wonder how they are treating others.

This is very surprising and unexpected, Sir. Hopefully it will be rectified soon.

 

[SSV]

Y

Yes. I got CB card with 10k limit. I transferred 4lakh from Elite.

Hence your CL crash on CB card... that is the logic here...
According to this logic that SBI invented with their propreitory formula, any one who touched CL of CB card with any other card, faced the axe...

 

[Rocky Bhai]

Of course but that comes at a cost though

yup what do you expect from bank then. In your words customers milk the bank's bank's milks the customer and the cycle goes on

 

[Walter White]

View attachment 23844yup what do you expect from bank then. In your words customers milk the bank's bank's milks the customer and the cycle goes on

Saare shareef logo ki limit gira di. Jinke wajah se loss hua toh vo aj marked safe celebrate kar rhe hai.

 

[Strange]

Saare shareef logo ki limit gira di. Jinke wajah se loss hua toh vo aj marked safe celebrate kar rhe hai.

Jyada limit ke chakkar me hi loss hua hai ye Shareef logo ko.

 

[SSV]

View attachment 23844yup what do you expect from bank then. In your words customers milk the bank's bank's milks the customer and the cycle goes on

Exactly that is the point. you can be a normal customer or you could be a smart and elite customer ... Choice is yours...

 

[Rocky Bhai]

Saare shareef logo ki limit gira di. Jinke wajah se loss hua toh vo aj marked safe celebrate kar rhe hai.

Jyada limit ke chakkar me hi loss hua hai ye Shareef logo ko.

Waqt se pahle aur naseeb se jyada kisi ko kuch nahi milta

 

[hemant89]

SBI is like, Axis shock was not enough for people let's give some more!!
I have SBI Vistara with a limit of 40K which is blocked (I hope they won't decrease the limit from 40K)
Another card is simplyclick with a still intact limit of 1.5L

 

[SSV]

SBI is like, Axis shock was not enough for people let's give some more!!
I have SBI Vistara with a limit of 40K which is blocked (I hope they won't decrease the limit from 40K)
Another card is simplyclick with a still intact limit of 1.5L

You will be untouched this time around, assuming you were not naughty to swap the CLs around between your cards and also CB card is not the mix anyway

 

[SSV]

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.

Thanks for breaking the news last night... Initially I thought it was a one-off technical glitch bu proved to be a unanticipated mass attack on customers...
BTW did you receive any response from CC ? If so what?

 

[plastikman]

Y

Yes. I got CB card with 10k limit. I transferred 4lakh from Elite.

Can you please guide, how to do that ?

 

[SSV]

Can you please guide, how you did that ?

At that time they were allowing the transfer of CL from one card to another... This is what actually caused this storm now.
They stopped this transfer practice from May onwards and cleaning the house now...

 

[SSV]

At that time they were allowing the transfer of CL from one card to another... This is what actually caused this storm now.
They stopped this transfer practice from May onwards and cleaning the house now...

What happened was as CL on CB card is very low, some people applied for some basic cards and got the limit transferred to CB card and then closed the newly opened card.. This caused massive churn of the cards... and CLs of CB card got increased as a result of this practice..

Now they got the broom, sweeping across the floor

 

[SSV]

What happened was as CL on CB card is very low, some people applied for some basic cards and got the limit transferred to CB card and then closed the newly opened card.. This caused massive churn of the cards... and CLs of CB card got increased as a result of this practice..

Now they got the broom, sweeping across the floor

In this storm, people unknowingly touched the CL of CB card with another already existing cards and closing some other cards also got caught up.. and hence the outcry...

 

[R0H17]

Can you please guide, how to do that ?

They’ve stopped this from May ‘23.

I had transferred the limit as soon as I had received the CB card.

 

[plastikman]

What happened was as CL on CB card is very low, some people applied for some basic cards and got the limit transferred to CB card and then closed the newly opened card.. This caused massive churn of the cards... and CLs of CB card increased ..

Now they got the broom, sweeping across the floor

Oh I see. But my relative has their Etihad and Prime card which do not give any significant reward and wanted to transfer limit for the sake of parity.

But I guess it can't be done now !

 

[SSV]

Oh I see. But my relative has their Etihad and Prime card which do not give any significant reward and wanted to transfer limit for the sake of parity.

But I guess it can't be done now !

At the moment it is better not to touch the CLs of any cards.. Anyway they are not allowing that practice now...
And also they are reducing very high limits on normal cards also may be in this case they may be rationalising this by utilization ratio or credit profile..
Let the dust settle, meanwhile take a shelter and be calm and not to act on anything is what I would prefer to do...

 

[plastikman]

At the moment it is better not to touch the CLs of any cards.. Anyway they are not allowing that practice now...
And also they are reducing very high limits on normal cards also may be in this case they may be rationalising this by utilization ratio or credit profile..
Let the dust settle, meanwhile take a shelter and be calm and not to act on anything is what I would prefer to do...

Yes, that's great advice

 

[SSV]

They’ve stopped this from May ‘23.

I had transferred the limit as soon as I had received the CB card.

Unfortunately this caused the demise of your high credit limit... you would not have expected this at that time.. If people were not closing the newly opened cards after transferring their limits to CB card, this would not have ever happened. In this case you are an inncocent victim... Everything is unfair in life at some stage..

 

[SSV]

Actually I had to accept that I was very lucky enough to not to touch CL of CB card.
One day I cancelled Simply click on the app as I was not using that much, then retention team called me immdiately within a few minutes and asked for the reason. I said I was not using this and want to transfer CL back to cb card besides this I am paying for Simply click annual fee. She said she would refund the annual fee and said she couldnot transfer CL from this card to CB card. I asked why, then she told me the whole story of this abuse.. and said next year also I could come with fee waiver on Simply click and they would honor it as I was a prolific spender on CB card...

Thats why I have some background about this unexpected unfortunate event...
I consider myself lucky to contact them about CL transfer after May 23....
Pure luck...