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SBI cards in trouble due to high revolvers :report

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Deal Lieutenant
jioanupt

https://www.moneycontrol.com/news/opinion/eleva...

  • The lender has 60 percent of its card receivables in the form of EMIs and revolving credit
  • Revolvers are high risk credit
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Deal Lieutenant Deal Lieutenant
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Because the agent that miss sell the SBIcredit cards say something interesting to trick people into SBI card 

do you know what they say first?

Ans: its zero cost EMI in SBI cards please take SimplySAVE / SimplyClick , you can avail zero cost EMI on shopping xD -> (its kinda SBI card itself promoting EMI a lot)

this is the main reason for revolvers and EMIs haunting SBI cards xDDDD

Deal Lieutenant Deal Lieutenant
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VU+ for many to read this and get aware on how SBI credit card is and how that will have impact on "SBI Cards and Payment Services Ltd - SBICARD" stock 

Deal Cadet Deal Cadet
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Their stock is already down. People who invested earlier in SBI Cards shares have incurred huge losses, and this stock has never given good returns.
Cool Cool
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I have no interest in SBI but missed excellent discounts in the recent Prime day Sale. Thinking of getting one...

Deal Cadet Deal Cadet
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Think of it like you saved 100% of your money because you didn't have SBI credit card. 

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Deal Cadet Deal Cadet
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Dear Cardholder, use Flexipay EMI feature on your credit card to convert spends worth Rs 2,500 or above into EMIs. Visit https://sbicard.com/Fl...ay - SBI Card

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What an irony!!!  I just received this SMS 🫣

Deal Newbie Deal Newbie
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Any effect on debit card users

Savings Mentor Savings Mentor
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I know a b*****, my neighbor who has not paid back SBI card bill consistently. I found many SMS on her phone while showing her how to do something, about some "Case filed by SBI cards". She can afford to pay very much but chose not to pay back. I think her mentality is it's a big company and a big bank so she can cause them a loss. I told her not to do this to any bank, and this was destroying her own cibil score too but she chose to ignore.

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