Confused About SBI Card Rejection? Seeking Insights from Fellow Cardholders!

[Patrazz]

I maintain a healthy CIBIL score of over 760 and hold more than 10 credit cards from various banks, including HDFC, Axis, ICICI, IndusInd, and Federal. However, my application for the SBI Cashback Credit Card was declined, and the reason provided—seems unusual. Could this be a valid reason for rejection, or should I request a reconsideration of my application?
I would appreciate suggestions and insights from fellow users.

 

[Nishan11]

I have salary account with them & net monthly salary of 3 L. I have couple of big FD also with them. ITR 45 L.

I have there simplyclick & vistara card.

Still I don't get LE due to over leverage 😂

 

[Kumar93196]

yes 1 loan 3 years old and cards

Well try for cc after closing that loan. As on now you are over leverage. If bank says you are over leverage it says this after calculating your all expenses loans cards cc etc.

 

[Boy 07]

Well try for cc after closing that loan. As on now you are over leverage. If bank says you are over leverage it says this after calculating your all expenses loans cards cc etc.

with the income of 6 L how much limit should i have to all my cc to get cc from sbi?

 

[Boy 07]

Update: finally overleverage panoti has been removed all of sudden on 11 june and application got soft approvel with limit between 1.4 L to 1.75 L .I did kyc by agent .after two days home varification done ,then office varification also done on other day .One tele verification call completed and on the other day second varification also done.after day agent told me that your application has been rejected with code F55 its means on tele verification something was wrong i sent him call recording he also shocked why the had done so when everything was fine. But i did not get eny email or sms regrading rejection.

 

[Vasimk07]

View attachment 75518
I maintain a healthy CIBIL score of over 760 and hold more than 10 credit cards from various banks, including HDFC, Axis, ICICI, IndusInd, and Federal. However, my application for the SBI Cashback Credit Card was declined, and the reason provided—seems unusual. Could this be a valid reason for rejection, or should I request a reconsideration of my application?
I would appreciate suggestions and insights from fellow users.

Well i have more than 25 CC and for last 4 years SBI rejecting my application instantly.This tome i raised the concern to RBI and got the reply from SBI: reason for rejection over leverage. Kind of weird

 

[brightknight]

Update: finally overleverage panoti has been removed all of sudden on 11 june and application got soft approvel with limit between 1.4 L to 1.75 L .I did kyc by agent .after two days home varification done ,then office varification also done on other day .One tele verification call completed and on the other day second varification also done.after day agent told me that your application has been rejected with code F55 its means on tele verification something was wrong i sent him call recording he also shocked why the had done so when everything was fine. But i did not get eny email or sms regrading rejection.

so what ratio you have currently? Combined CL to income (annual)

 

[Sahil_07]

Well i have more than 25 CC and for last 4 years SBI rejecting my application instantly.This tome i raised the concern to RBI and got the reply from SBI: reason for rejection over leverage. Kind of weird

Nothing weird in this.
Also RBI can do nothing.
Only bank decides about credit card/Loans based on their internal criteria
For sbi you can't have their card after having 25 other cards.
You should have taken sbi card in the initial days

 

[RAMESH BABU N]

Well i have more than 25 CC and for last 4 years SBI rejecting my application instantly.This tome i raised the concern to RBI and got the reply from SBI: reason for rejection over leverage. Kind of weird

Nothing weird or unusual.

SBICard does not give if you already have more CCs. This applies even for SBI Staff.

In my case, I am an ex-SBI Senior Official, who is having SBI Cards since SBI launched CCs in late 80s. Earlier, I held Classic, Silver, Gold, Platinum, Titanium, Employee, SimplyClick, SimplySave, Elite....

Now, only SBI CashBack. And, about 15+ CCs from others.

Now, SBI doesn't give even co-branded cards to me - like Apollo or PhonePe.

Over Leverage will not get you SBI CCs. Going to RBI is a waste of time n effort.