Search results for query: over leverage

No escape from the over-leveraged issue. Barring ICICI, almost all other banks report multiple cards as separate records in CIBIL, which causes this over-leverage issue. Even if you get it after closing a few cards, the limit might be much less to justify the annual fee. If anyone has LTF cards...

Most govt banks do check the number of cards on holds and reject if there are too many with the reason 'over leverage'

Wait 3 more months and don't apply for any credit or loan in the meantime. Close unnecessary cards if rejected for over leveraged reason. Mine got approved yesterday after 2 rejections.

Higher CL is better for credit score because the utilization goes down. Only negative I heard is that some banks don't issue credit cards if it's over-leveraged.

It is most over hyped card like infinia...i agree that with swiggy hdfc and apay, sbi cashback card is not required at all

...card and it was denied with internal policy decision as response. I went to the bank and found out that the reason specified was “over leveraged”. I have no outstanding loans. I never missed a single payment and have over 800 CIBIL score. In fact I closed SBI Simply click card in 2018. I...

There is harm in keeping if not required like SBI over leveraged issue, AU bank more than 7 active card issue.

Solution: Never apply for it again… . . . . Please have a look at the many other alternatives that were being discussed in this thread

I think FED also religiously follows over leverage concept.. make sure you are not over leveraged and not many recent enquiries

I know this fact and that's why I shared the overall CL in the question. As of now, I have never faced the over leveraged issue and I already have SBI Cashback card.

Correct. Then it will become over-over leveraged... I too kept my apay CL at 7L where as my Sapphiro got 15L..

OK bro. Agree with you.

But sm ppl on this community have been able to get approved despite of over leveraged. You can try.

You mean if the overall CL is much higher compared to my salary, I might not get new credit cards, right?

.... . All I am trying to say : ” don’t overly depend on EPM.. things can change in a single day.. you advised him to close 5 different card just based on one single card ie EPM.. that too all are LTF and he didn’t mention anything about over leverage situation… this I think is a bit aggressive...

I got good limit this time for sbi and it was >3L

intially when i applied for SBI card, it was rejected for me with over leverage... i checked , i think this forum or somewhere else and reduced my ICICI card limit from 35 L to 21L and then simply click was approved.

Currently, not issuing the 3rd card due to over-leverage. If you are lucky, you might get the 3rd card. Previously, it was easy.

...rejected. the customer care told me I had too many cards. I closed some and then applied. Got it approved. Only a few banks look for over leverage. SBI is one of them and I found some had same issue with Canara Bank. So having many cards definitely contribute to decision making for certain...

...CIBIL as 2 cards no? So does that mean I should close cards only who are shows as separate?? Damn Amex also report seperately at CIBIL, even kotak too. Why some banks report cards as one and some don't?? Anyways, if someone was able to fix over leveraged issue and how, let me and all of us...