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Shocking Decrease in SBI's credit Limit!!

  • Thread starter Thread starter Pujaari
  • Start date Start date
  • Replies Replies 734
  • Views Views 54K

Pujaari

TF Select
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
 
As per the SOP, and as suggested by RBI, all Credit Card issuing entities must review the Contingent risk factor, for every customer, at periodic intervals.
Many do follow this, but in breach.
RBI (and the ITD too) is reiterating this quite often - and now insisting - because of increased defaults n vanishing users.
 
Increase percentage?
I had 2.5L limit across my 2 Cards - 1L on Gold & More & 1.5L on Cashback (This is after I had received Cashback card with paltry 20k limit and transferred some limit from my old Gold & More card to Cashback)

It was cut down to 25k - both cards in total put together 🙂

Now my 1L is restored on Gold & More and I got 2.5L on Cashback 🙂
 
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