SimplySave Rupay credit card approved in first attempted and cashback rejected 3-4 times in past 1.5 years, how to proceed for cashback now?

[navdeep22]

hi,
i tried getting cashback card for quite number of times now. Reqests were either got rejected or were put on hold by saying that SBI is not issuing cashback credit cards now.


i was told to get simplysave rupay variant which can be easily get and then go for cashback, so what should i do now?

1. activate this card and later apply for cashback card?
2. donot activate this card as not worth to spend Rs500 per year as nothing special in this card which i dont have in other card.. and then later apply for cashback card
3. apply for cashback card right now?

PS: aproved simpysave rupay few days ago

 

[navdeep22]

Yes.. As per sbi if u total credit card limit is 2x of ur annual salary then u r over leveraged … also if u have multiple cc from same bank .. though u have shared limit .. banks report as separate limit for each card in cibil
My actual limit on all cards is around 70L . But as per cibil my limit is around 1cr

My overall credit limit of all card will be almost equivalent to my itr

 

[navdeep22]

Check this thread

V

Thread 'U2-approval over leveraged rejection reason for SBI Cards - Possible reasons and solution'

Apr 10, 2024

This issue may be there with all the CC issuers but primarily with SBI Cards.

At SBI, your card application would get rejected instantly after your submission stating internal bank policy as reason. And obviously bank doesn't share the exact reason even if you escalate it to PNO. RBI complaint helps (yet to try).

I managed to have an agent inform the exact reason, which is U2-approval over leveraged. Seems like I'm having too much credit limit then I'm supposed to (total high credit limit/earnings ratio).

Common Reason -> Multiple cards sharing common credit limit. This is how it works...

• vijay.vj
• Replies: 33
• Forum: Credit Card - General

• 

But I didn't know my rejection details of previous cards.

 

[navdeep22]

How long you have that salary account with sbi?
Usually they assess on their own quarterly or 6 monthly for such accounts. In-bank agents do call and pester about such offers from time to time.
I would advise you to take that rupay and use for card offers which may come handy to you in future. Wait for reapply for atleast 3 months and as one fellow suggested next time apply via some cashkaro or bankbazar website. No guarantees about approval but can guarantee about daily spam calls.
Don't fall for any agent saying he can get you cashback card via offline application. I have yet to see any such claims to be truthful.

More than 3 years

 

[MS R]

But I didn't know my rejection details of previous cards.

next time when u visit any mall, Airport SBI kiosk desk or check with any SBI agent ... tell him previous applications were rejected .... when he eneters PAN in his app ... u will be able to know the reason

In a mall I found SBI agent in Reliance trends . took pic of rejection

 

[navdeep22]

next time when u visit any mall, Airport SBI kiosk desk or check with any SBI agent ... tell him previous applications were rejected .... when he eneters PAN in his app ... u will be able to know the reason

In a mall I found SBI agent in Reliance trends . took pic of rejection

okay thanks man

 

[panu24]

I am self employed and total credit card limit is 3.5x my ITR amt still was issued sbi cashback cc

Because it is your first SBI card. We have seen in the past such exceptions by SBI where NTB customers have been issued cashback card irrespective of their income.

 

[Dreams Of Desire 💓]

More than 3 years

You should have got with this much tenure.
Email sbi card pno regarding exact reason for card rejection. Don't settle for internal policy.
Give rbi circular as reference for exact reason.

Thread 'Banks should give clear reason for application denial'

Nov 7, 2023

Ref RBI Circulars:
- https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1574
- https://rbi.org.in/Scripts/NotificationUser.aspx?Id=3315&Mode=0

RBI says this.

Banks have been advised that in case of all categories of loans irrespective of any threshold limits, including credit card applications, banks should convey in writing the main reason/reasons which in the opinion of the bank have led to the rejection of the loan applications. It is reiterated that banks should convey in writing the main reason/reasons which have led to the rejection of the...

• aayusharyan
• card rejection rbi circular
• Replies: 118
• Forum: RBI Guidelines

• 
• 

 

[Tazact]

These days SBI is rejecting application for being Overleveraged ! In simple word your Credit Limit across all cards is much higher than your ITR. So reduce cards which doesn't serve any purpose. Weired reason by SBI ! What if customer is getting good limits on few cards ? Still they will say Overleveraged !