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

 

[iamankit]

 

[Walter White]

Itna jaldi mat celebrate karo 😛

 

[db24]

People who did limit adjust in the past from other sbi cards are mostly impacted.

 

[SSV]

People who did limit adjust in the past from other sbi cards are mostly impacted.

Yes sir, this is what being discussed lately, thanks for your confirmation and righly put it in the words...

 

[vinrey287]

Does Sbi follow same structure for card upgrade as Hdfc? Like if we get to 5l limit we are eligible for next card variant.

 

[Dhm66]

I too think so.. Let's wait.. They are doing with some specific purpose..

As per Mr Manikaran Singhal, SEBI registered tax and investment expert said, "When the economy goes under stress, credit card issuers start reviewing their portfolios more aggressively to cut down the risk. It had happened in 2008 economic crisis as well. Lenders consider different parameters to check if any segment of their portfolio could be under stress, and identify customers accordingly." Singhal also said that banks are reducing credit card limit to avoid any kind of credit card default in future.
Courtesy:- Zeebiz

Not pretty sure about things written in the abovementioned paragraph (wrt recent CL decrease) but one can't deny this could be a possible reason among others.
#Analysts
#Speculations
#CL Holocaust💀

 

[Deleted member 16965]

 

[SSV]

As per Mr Manikaran Singhal, SEBI registered tax and investment expert said, "When the economy goes under stress, credit card issuers start reviewing their portfolios more aggressively to cut down the risk. It had happened in 2008 economic crisis as well. Lenders consider different parameters to check if any segment of their portfolio could be under stress, and identify customers accordingly." Singhal also said that banks are reducing credit card limit to avoid any kind of credit card default in future.
Courtesy:- Zeebiz

Not pretty sure about things written in the abovementioned paragraph (wrt recent CL decrease) but one can't deny this could be a possible reason among others.
#Analysts
#Speculations
#CL Holocaust💀

Good find, there will always be some reason behind it unless you are an AXIS executive...

 

[SSV]

Does Sbi follow same structure for card upgrade as Hdfc? Like if we get to 5l limit we are eligible for next card variant.

BTW, which card variant you are looking for from the SBI's arsenal?? They are all next to crap for what they are worth.. in my opinion...
Just enjoy with CB card and some basic card ( for offers) , rest leave them on their own, don't even bother to touch them with bargepole... is my advise..

 

[vinrey287]

BTW, which card variant you are looking for from the SBI's arsenal?? They are all next to crap.. in my opinion...

Air India or Vistara.. Already having one crap FBB

 

[SSV]

Air India or Vistara.. Already having one crap FBB

fair enough if you have these kinds of specific requirement it may be worht looking at them.. but ther will be some uncertainity with regard to these cards because of their impending merger.. Tread with caution...
Basically SBI being very stringent in cards business and they follow this: Either their way or Highway....

 

[hackymanoj]

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

 

[SSV]

Itna jaldi mat celebrate karo 😛

+1, rightly said sir... Tread with caution... Dangerous waves may be ahead...

 

[shashifed]

Thank god mine is intact at 193k (SBI Cashback Card). Milked 50k cashback, got afraid of the limit decrease news

 

[Walter White]

Air India or Vistara.. Already having one crap FBB

Air India is a useless card. Don't get it unless you'll be spending 20L a year and have international travel plans in mind.

 

[vinrey287]

I have idfc Vistara.. Getting Air India would good asto have both sides of coin.

fair enough if you have these kinds of specific requirement it may be worht looking at them.. but ther will be some uncertainity with regard to these cards because of their merger.. Tread with caution...
Basically SBI being very stringent in cards business and they follow this: Either their way or Highway....

 

[CMG]

Are those who were impacted having paid or LTF cards?

 

[vinrey287]

But now the problem is the old card is having 10k limit.. Even if it's upgraded, No way I can book tickets with this super high limit

 

[SSV]

I have idfc Vistara.. Getting Air India would good asto have both sides of coin.

Please follow @Walter White saab's advice , I have no opinion with these airline cards...

 

[SSV]

Thank god mine is intact at 193k (SBI Cashback Card). Milked 50k cashback, got afraid of the limit decrease news

Seems to me that you are an excellent milker.. God bless you and poor SBI, I pity SBI in this case.
Having said that I also did my part of milking , but not as much as you... (only 28K)...