SBI Card limit reduced for extensive use.
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Just saw and its 40k now.
No email no sms sent to me.
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but this case is peculiar
Can you share what was the limit of simply click before transfer
Usually "SBI Card" wont reduce limit easily hmmm
(guessing this because my moms SBI credit card is more than 15 years old and hardly used 4 or 5 times all these years, and limit of 50k not even reduced till date)
So my doubts are:
1) did you took any other loans recently in the last 3 months for more debt?
2) did your utilization of other credit cards overall is 0?
i can only think of the above 2 as a reason
well contact customer care toll free number for your area and check/enquire why this happened -> they will give you proper answer
@all: someone do suggest your views on how this happened it will greatly help OP as well as more readers who will read it hence forth
Suggestion: ABHIMANYU2.0 if possible change topic heading to "SBI Card Limit reduced without consent"
just saying as suggestion, if you want you can change the topic name:) for more clarity instead of "SBI Cards" as topic heading you mentioned
VU+ for more to check and answer why this happened
But banks are not oblidged to seek customer's consent when they want to reduce credit limit because ultimately they are the ones who are at risk in relation with customer and not the customer.
I found a guy on reditt who was using sbi cashback card 95% limit since last 2 months, they reduced the limit there.
And i was using my card more than my limit since 2 months....may be this is the reason.
Oh you generated bill with 90% utilisation?
or
you prepaid and used the card again and again within a bill cycle?
Which you mean as extensive use?
I also heard that even if we transfer limits , they'd rationalize at later point to bring the limit to their perceived "Aukat" eligibility of us
If you give me tour car/ car keys for a day.. but you regularly hear me doing the same (borrowing car for a day) from everyone else in your society too.. then would you really want to let me borrow your car.
Or rather, in this case 'money'.
Living on the edge lifestyle.. raises red flags and doctor Vijay Mallya is not an exception but a norm for many loan books becoming NPAs.
Almost all Banks are reducing limits wherever there is risk aversion ..RBI recently warned about credit card imploding credit card dues ... More limit downgrades coming soon
do u have saving a/c with sbi?
This all cc limit reduced drama happns with cb card only my cb card limit after transfer from simply click cc was 200k and its reduced to 95k within 2 month n haven't heard other then cb card anyones limit reduced
This is alarming situation