Shocking Decrease in SBI's credit Limit!!

[Pujaari]

Hey folks, do yourself a favor and take a peek at your credit limit in SBI cards. You might be in for a rude awakening, like I was. They slashed my limit to such a low amount, I can barely afford a bag of peanuts. Literally. 🥜😂

4L to 14k😂. Just hoping its some technical glitch. Have mailed to cc anyways

 

[SSV]

Received this message few mins back. This is cashback card and I have adjusted limit 3 months ago

Dear Cardholder, as part of our regular process we have reviewed your credit card performance and have adjusted your credit limit. The revised credit limit for your card ending with xx is Rs. 83000 - SBI Card

Thanks for your input and confirmation. This asserts that the one that played with CB card's CL got the axe....

 

[SSV]

Are those who were impacted having paid or LTF cards?

Most of them are CB card holders and it is paid always...
Not sure how many of them are LTF out there anyway in SBI cards space....
A redundant question it seems to me...

 

[srikant]

The bank can decrease the limit if they find a customer's profile risky. We can't fight this step of SBI card, but we can request SBI Card to reevaluate our profile and check if they can restore the old credit limit.

So it's advised that everyone who is affected by this step emails SBI Card and requests a reevaluation.

If they reject your request, I'm afraid there is nothing more we can do.

They should give some NOTICE though, and time to pay up the current balance. I think it is plain wrong to decrease limit without warning to a level that makes a card overcharged, like they have done with @CardSeeker for instance. This can make an otherwise responsible borrower look like a maniac to credit bureaus and to other lenders.

 

[Walter White]

They should give some NOTICE though, and time to pay up the current balance. I think it is plain wrong to decrease limit without warning to a level that makes a card overcharged, like they have done with @CardSeeker for instance. This can make an otherwise responsible borrower look like a maniac to credit bureaus and to other lenders.

The problem is now the bank will be levying overlimit charges on people which is unethical.

 

[Strange]

@Abhishek012 Has your Cashback card limit remained intact or decreased?

 

[Walter White]

@Abhishek012 Has your Cashback card limit remained intact or decreased?

SBI ka bas chale toh uska card permanently block kar de 😛

 

[Strange]

SBI ka bas chale toh uska card permanently block kar de 😛

Cashback card ka monthly cashback limit ko 10k se 5k karwane me Abhishek ke tweet ka bhi yogdan hai.

 

[Walter White]

Cashback card ka monthly cashback limit ko 10k se 5k karwane me Abhishek ke tweet ka bhi yogdan hai.

Uska card pehle bhi ek baar block kar diya tha SBI ne. Ispe thread bhi hai ek.

Tum bhi padna. 🤣
https://www.technofino.in/community/threads/any-fastest-way-to-unblock-sbi-credit-card-solved.11137/

 

[SSV]

They should give some NOTICE though, and time to pay up the current balance. I think it is plain wrong to decrease limit without warning to a level that makes a card overcharged, like they have done with @CardSeeker for instance. This can make an otherwise responsible borrower look like a maniac to credit bureaus and to other lenders.

The problem is now the bank will be levying overlimit charges on people which is unethical.

100% agree, if someone take on them, they have a case here...
They could decrease the limit as they want and when they want, If the precursor to the levying some sort of fee is because of the banks actions then the levy of the fees should not hold ground... as customer's actions are not responsible here to breach those condtions for the levy of fees purposes...

 

[Strange]

Uska card pehle bhi ek baar block kar diya tha SBI ne. Ispe thread bhi hai ek.

Tum bhi padna. 🤣
https://www.technofino.in/community/threads/any-fastest-way-to-unblock-sbi-credit-card-solved.11137/

ha padha tha maine ye thread.

 

[Chaitanya-a]

SBI ka bas chale toh uska card permanently block kar de 😛

SBI to underwriter: Wo samne Abhishek012 ka application dikh rha hai.

Underwriter: Haan. Approve kr dia.

SBI: Nahi karna tha! 😣

 

[VISHESH_BANSAL]

SBI to underwriter: Wo samne Abhishek012 ka application dikh rha hai.

Underwriter: Haan. Approve kr dia.

SBI: Nahi karna tha! 😣

Abhishek Chatterjee*
SBI ke records m Abhishek012 thodi hoga.

 

[Chaitanya-a]

Abhishek Chatterjee*
SBi ke records m Abhishek012 thodi hoga.

Yaha ke log ni smjh paenge na🤣

 

[Strange]

Abhishek Chatterjee*
SBi ke records m Abhishek012 thodi hoga.

Ye SBI ke snitches ke paas hoga. He uses same username in all forums.

 

[Trio]

No change in limit in my SBI Prime card...3.3 Lakhs.Though i had twice requested them to close the card as i hardly use it.They gave me 10K bonus points (appx 2.5K - Rs 99/- redemption charges) against the renewal fee which they refused to waive off...I started with SBI Air India Signature to SBI Elite and finally got it downgraded to Prime each time on my request.Length of relationship is appx 10 Yrs.

 

[Shrinit Padwal]

Still thinking of reasons for SBI CL decrease - kon inke paise leke bhaag Gaya Jo sabka limit kam kar diya. Definitely some scam happened or some losses, just wo info abtak public nhi hua hai. Just to acquire new customers - existing customers ka limit decrease kardo ?

 

[s73uresh]

So far SimplyCLICK limit intact at 1.7L. Was 1L at issuance, then 1.3L, then closed the card, they begged to get it re-issued. But this is not done. They don't respect customers at all. What if people mass-threaten to close their SBI cards? Will that work to restore the limit?

Which other banks reduce limit like this besides SBI and RBL?

I think we should do mass threaten to close their cards. This kind of arrogant attitude is reason for downfall of many big business houses. SBI CB was the only good card till now, recently they limited the cash back now another with arbitrary reduction of credit limit. Recently I could get my BPCL fees and tax reversed and this happened for CB card from 2.30 lacs to 97k. I have spent more than 4 lakhs in last 7 months

 

[Slayer]

@Slayer Your status?

I only have CB card and with 90k limit they did not feel reducing it, thinking of getting Vistara Prime tho

 

[pprakash11]

I only have CB card and with 90k limit they did not feel reducing it, thinking of getting Vistara Prime tho

You too marked safe 🤣
Feels of posting on FB 💨

 

[aakashk]

My SBI club vistara prime card's limit reduced from 4L to 2.75L. I've been spending ~50k per month and have always paid bills on time. Having SimplyClick as well for several years which I don't use much now.

All these banks have gone mad these days.