OneCard (SBM) FD closed, but card active

[krishg]

I have OneCard metal (SBM secured by FD) for more than 1 year. Now since that is not much of use to me as the occasional offers are already covered by other credit cards, I thought of closing it to unblock my 1 lac FD with less interest rate (since FD is for 1 year always by them, user has no option to change). But instead of reaching support to close it, I thought of doing some experiment. As my purpose was to release the FD with not so famous SBM, but not much of closing the card, I logged in to SBM netbanking and closed the FD. But OneCard is still active or did not receive any notification either it will be closed. Well, at least in app, I did not try any transaction in case they are silently in process of closing it. Wondering if it would get closed automatically after billing cycle or would they silently convert it to unsecured one?

 

[Deleted member 5552]

I have OneCard metal (SBM secured by FD) for more than 1 year. Now since that is not much of use to me as the occasional offers are already covered by other credit cards, I thought of closing it to unblock my 1 lac FD with less interest rate (since FD is for 1 year always by them, user has no option to change). But instead of reaching support to close it, I thought of doing some experiment. As my purpose was to release the FD with not so famous SBM, but not much of closing the card, I logged in to SBM netbanking and closed the FD. But OneCard is still active or did not receive any notification either it will be closed. Well, at least in app, I did not try any transaction in case they are silently in process of closing it. Wondering if it would get closed automatically after billing cycle or would they silently convert it to unsecured one?

They may have removed lien from FD. Otherwise you can not close the FD

 

[Rahul92]

Onecard report it's all cards ( Fd and non FD) as unsecured only.

 

[krishg]

They may have removed lien from FD. Otherwise you can not close the FD

May be. Not sure. Or it might be a glitch in their side which might take more time to sync and close.

 

[lucifer]

I have OneCard metal (SBM secured by FD) for more than 1 year. Now since that is not much of use to me as the occasional offers are already covered by other credit cards, I thought of closing it to unblock my 1 lac FD with less interest rate (since FD is for 1 year always by them, user has no option to change). But instead of reaching support to close it, I thought of doing some experiment. As my purpose was to release the FD with not so famous SBM, but not much of closing the card, I logged in to SBM netbanking and closed the FD. But OneCard is still active or did not receive any notification either it will be closed. Well, at least in app, I did not try any transaction in case they are silently in process of closing it. Wondering if it would get closed automatically after billing cycle or would they silently convert it to unsecured one?

how much time did it took to transfer the fd back to bank account and do you hold an sbm bank account?

 

[krishg]

how much time did it took to transfer the fd back to bank account and do you hold an sbm bank account?

It was instant..yes I hold Niyo global account which is SBM savings account behind the scene..transfer was done to that account..

 

[Rahul Gupta]

It was instant..yes I hold Niyo global account which is SBM savings account behind the scene..transfer was done to that account..

Bro if you card keeps working then update us. This is gonna help alot of people who want high limit unsecured cc.

 

[krishg]

Bro if you card keeps working then update us. This is gonna help alot of people who want high limit unsecured cc.

It works till now, but not sure how long!
Now, even if it ends up working for me at the end, this should not be taken as a solution since it may not work for others as their credit score would be different than mine and I already have several other unsecured high limit cards. If someone follows this and their card gets closed, it would be bad for them. I started this thread is as a question in case someone else has similar experience (notice the question mark in the original post )

 

[IamTRoy4]

How did you get the CIF number of your SBM account?

 

[krishg]

How did you get the CIF number of your SBM account?

As I told above I already had a saving account because of my Niyo global account.

 

[IamTRoy4]

can't close my FD, which is 1 year 3 months old.

 

[krishg]

can't close my FD, which is 1 year 3 months old.
View attachment 10193

May be they removed lien for me already. Also, are you trying from SBM mobile app or netbanking site?

 

[Rahul Gupta]

can't close my FD, which is 1 year 3 months old.
View attachment 10193

Hide your account number please.

 

[IamTRoy4]

May be they removed lien for me already. Also, are you trying from SBM mobile app or netbanking site?

SBM mobile banking app

 

[krishg]

SBM mobile banking app

try netbanking

 

[Credit Karma]

I have OneCard metal (SBM secured by FD) for more than 1 year. Now since that is not much of use to me as the occasional offers are already covered by other credit cards, I thought of closing it to unblock my 1 lac FD with less interest rate (since FD is for 1 year always by them, user has no option to change). But instead of reaching support to close it, I thought of doing some experiment. As my purpose was to release the FD with not so famous SBM, but not much of closing the card, I logged in to SBM netbanking and closed the FD. But OneCard is still active or did not receive any notification either it will be closed. Well, at least in app, I did not try any transaction in case they are silently in process of closing it. Wondering if it would get closed automatically after billing cycle or would they silently convert it to unsecured one?

Is your card still active?

 

[krishg]

Is your card still active?

Yes

 

[Credit Karma]

Yes

You definitely are one lucky duck 🦆😉. Enjoy!

BTW, do update if any new update is there!

 

[abhinandan8]

Still active or closed now?

 

[krishg]

Still active or closed now?

Still active.