Search results for query: over leverage

I have 25 plus still got hsbc platinum card

you surely are

I too faced rejection because of this over leveraged issue. Now I want to reapply. Will applying from the branch make any difference? OR the method is same for both? If this time they reject,I will make a complaint in the Rbi Ombudsman

I applied , they took the application and asked for my documents again and then rejected , may be over leveraged i guess

Is it over leveraged because of Existing SBI CB CC or existing other bank CC?

No trick for overleverage.

This "over leverage" issue - it means they think your total all other banks' credit cards limit is too much for them to approve it or only their own SBI cards? If they can give me SimplyCLICK and SimplySAVE, and if I close both, can't they give me SBI Cashback?

When I applied for 2nd card live+ I had 19 cards.

I don't have any SBI CC now, only home loan with SBI and saving bank account which I opened for getting Home loan. What is over leverage thing? Is it having multiple credit cards from different banks?

Over leverage applies not only to salaried. I don't think he has much cards to reject on overleverage. His profile is good ajd he applied online with vkyc. No need to verify physically. So approved in a day

Do you have an SBI savings account? Some people say, If you have a SBI savings account they ignore this over-leverage thing. Is it true? Any idea?

I have a joint housing loan with my sister.

No it's pointless doing that. I went through all that. Spent a lot of time and effort closing cards and reducing CL but still over leveraged. If at all you have more than even one credit card SBI will consider you over-leveraged.

You can search this forum for "over leveraged". I will refer here one of recent discussion https://www.technofino.in/community/threads/am-i-over-leveraged-for-sbi.27865

I have around 8 cards right now But no loan and good cibil. So how to guess whether it is over leveraged or not?

Not worth trying the efforts, anyways I strictly avoid perwi thing, it's like ahsaan which people ask in return later, no thanks, if through proper channels and escalation matrix it works then it's good for the applicants

Don't understand how they fulfill their targets , when they decline application saying "Over-leveraged". SBI cards should change their policy!!

With ICICI bank CCs, you have the option to reduce the credit limit to 10% of max credit limit. For OP, he can reduce it to 1 lac (approximately) if he wishes so in the future. Then, after a few months / years, he can increase again to 9 lakh. It takes upto 90 days to see the change in credit...

Home loan may not be a problem. I too have one.

Got the reason they're Saying due over leverage Cashback CC got declined any trick to Approve?