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Am I over leveraged for SBI?

AlooDum

TF Premier
Currently I hold close to 10 cards with ITR of 30L & overall credit limit across all the cards 43L.

I don't have any SBI credit card and looking to apply one.

CIBIL of 781 & no defaults.

So my question is am I over leverage according to SBI??

Shall I apply directly or reduce my exposure?
 
as you long as you pay ontime, u can use 100%. rest won't affect, there are other cards lying idle to contribute that gap.
No one know exact cibil algo as they tend to tweek it frequently.
Many people have hampered their score bt using cl of a single cc fully & not paying it back before bill generation.
I try to keep utilization of each cc below 25% by partially paying the due before bill generation.
Cc main advantage is free credit period, so decent cl is very important.
 
SBI Cards works very miraculously. They rejected my second card application when I applied for bank instant discount while on the other hand they made my SBI CB card LTF without any fuss.
 
I tried all the possible ways to get the card and no luck. Atlast, got is as first card for my wife.

In my case - SBI said my HL+PL+ALLCC CL(my utilization is less than 2%) is 5X of annual salary. So, it is not possible.
 
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I tried all the possible ways to get the card and no luck. Atlast, got is as first card for my wife.

In my case - SBI said my HL+PL+ALLCC CL(my utilization is less than 2%) is 5X of annual salary. So, it is not possible.
How many times it is if you exclude home loan ( ie all CC CL + PL)?
I would imagine it is around 2X
 
Utilisation is nothing to do with Overleverage.
To reduce your overleverage:
Either
1) Increase your annual income
or
2) Reduce your credit exposure, ie. your total CL

or Both.

All the best
It was 22.88 L i reduced it 16 l i am closing the cards which i dont use but in the cibil i am not able to see my income detail and when i appy the sbi card there is no option to fill the income how sbi knows taht what is my annual income ? my annual income is above 6 L
 
It was 22.88 L i reduced it 16 l i am closing the cards which i dont use but in the cibil i am not able to see my income detail and when i appy the sbi card there is no option to fill the income how sbi knows taht what is my annual income ? my annual income is above 6 L
Not all the things in the cibil are shown to customers.
What we see and what the banks see are different to some extent..
We only see subset of what banks can see.
You should reduce your total CL below 10 to 12 L or increase your income beyond 9 L or both.
 
Not all the things in the cibil are shown to customers.
What we see and what the banks see are different to some extent..
We only see subset of what banks can see.
You should reduce your total CL below 10 to 12 L or increase your income beyond 9 L or both.
I will try
 
So SBI wants to give cards only to people who have no other cards or loans? Not a great business model. Looks like they will learn when they stop growing in acquisitions and share price tanks.
So, this is exactly what happened (market share and share price tanking)! Will they learn or not is another matter.
 
So I'll be applying for SBI Cashback & A-Pay this Wednesday as soon as I turn 21. So Can you guys look into my case & give me a reality check???

Portfolio

1) AMEX - SmartEarn (Paid) - Rs. 1,62,000.
2) Axis Bank - Neo (LTF) - Rs. 1,34,000.
3) HDFC Bank- Millennia (Paid) + Swiggy (Paid) - Rs. 1,00,000 each.
4) Kotak Mahindra Bank - Zen Signature (LTF) - Rs. 35,000 + Myntra (Paid) - Rs. 27,000

CIBIL - 779
Credit Age - 2y 8m
Income - Take Home Salary - 70k approx.

I already have an account with ICICI under their Privilege program since the last year, I have an SBI Gold Segment Profile. What are the chances of approval & which one should I apply first ??? Throw in any other suggestions, if necessary.

@Vasuki @SSV @D₹V @Abhishek012
Anything below 10 card account is not over leveraged for SBI as per my research/observation.

BTW congratulations for the SBI cashback card.

Now before acquiring 10th card, apply SBI simply click or any other SBI card to get discount offers in sales. Later you can't get it (unless it's pre approved within the app).

And ICICI is notorious, can keep rejecting unnecessarily.
 
Absolutely, use it fully if required but be mind that 'pay on time and never miss single payment' that is the only concern you have to keep on reminding yourself.

Btw, Congrats :partyface:
I have Cibil 779 and total limit of 9 cards is 13.5 L my annual income is 6 L am I over leverage for sbi card should I apply or not ????
 
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