SBI way too stubborn on limit increase of my Prime card

[AVN]

Hi guys,

Bear with me for the extensive details.. I'm just too frustrated with SBI cards..

I'm an SBI cards customer from 2013 and while they were happily promoting card upgrades, they are hell bent on not increasing my credit limit. I have their prime card which I primarily use for the lounge access and the quarterly 1k pizza hut vouchers are an added bonus.. The limit provided is 60k which got reduced to 44k when I opted for SBI BPCL card(16k limit transferred).
The limit provided is based on my salary about 8-10 years back and now even after providing the latest salary slips and the required documents they are adamant on not increasing the limit and give lame reasons like documents not provided and ask to again submit the documents which is like a vicious cycle now .

Reasons for wanting to keep hold of the card with hopefully increased limit.
1. My oldest card so helps with credit rating.
2. Lounge benefits as I have opted for add on for the missus.
3. Increased limit will help me utilise the card more without seeming like I'm over using the limit.. will also help to waive the 3.5k annual fees.

What do u guys think?? should I just give up and close the card account or is there any other way to increase the limit.

 

[Skylar]

Hi guys,

Bear with me for the extensive details.. I'm just too frustrated with SBI cards..

I'm an SBI cards customer from 2013 and while they were happily promoting card upgrades, they are hell bent on not increasing my credit limit. I have their prime card which I primarily use for the lounge access and the quarterly 1k pizza hut vouchers are an added bonus.. The limit provided is 60k which got reduced to 44k when I opted for SBI BPCL card(16k limit transferred).
The limit provided is based on my salary about 8-10 years back and now even after providing the latest salary slips and the required documents they are adamant on not increasing the limit and give lame reasons like documents not provided and ask to again submit the documents which is like a vicious cycle now .

Reasons for wanting to keep hold of the card with hopefully increased limit.
1. My oldest card so helps with credit rating.
2. Lounge benefits as I have opted for add on for the missus.
3. Increased limit will help me utilise the card more without seeming like I'm over using the limit.. will also help to waive the 3.5k annual fees.

What do u guys think?? should I just give up and close the card account or is there any other way to increase the limit.

My father is having SBI Gold card same from 2013
It has a limit of 121K and last year we only used it once to buy a phone on sale and no other purchases and he got LE for 20K

 

[Skylar]

My oldest card so helps with credit rating.

You can close it, if you are holding it to cause of that. As closed cards will be in the "Closed cards section" and all payment history will be in the reports.

 

[AVN]

My father is having SBI Gold card same from 2013
It has a limit of 121K and last year we only used it once to buy a phone on sale and no other purchases and he got LE for 20K

Hey nice to know.. I started my credit card journey with the SBI gold and more card..

 

[AVN]

You can close it, if you are holding it to cause of that. As closed cards will be in the "Closed cards section" and all payment history will be in the reports.

R u sure about this.. One of the credit matrix is credit age which gives points basis your credit accounts average age and takes into account only the existing/live credit accounts. Hence the general advice is given of holding onto your old credit cards to better the credit score.

Anyways have escalated my issue to the SBI cards nodal officer.. if even this doesn't work out then might as well just close or downgrade the card to a Simply save or simply click card.. Better to take a hit of Rs.590 on annual charges than 3.5k..

 

[Skylar]

My oldest card so helps with credit rating.

R u sure about this.. One of the credit matrix is credit age which gives points basis your credit accounts average age and takes into account only the existing/live credit accounts. Hence the general advice is given of holding onto your old credit cards to better the credit score.

Even if you close the card, it will still appear in your closed cards section. Consequently, your credit age will remain unchanged, and the credit history will not be deleted.

If closed cards were removed from the history, defaulters could close their cards to escape default remarks on their reports. Therefore, closed card histories are retained in a different section, and the credit age continues from the date of the first loan or credit card issuance.

 

[zacobite]

Hi guys,

Bear with me for the extensive details.. I'm just too frustrated with SBI cards..

I'm an SBI cards customer from 2013 and while they were happily promoting card upgrades, they are hell bent on not increasing my credit limit. I have their prime card which I primarily use for the lounge access and the quarterly 1k pizza hut vouchers are an added bonus.. The limit provided is 60k which got reduced to 44k when I opted for SBI BPCL card(16k limit transferred).
The limit provided is based on my salary about 8-10 years back and now even after providing the latest salary slips and the required documents they are adamant on not increasing the limit and give lame reasons like documents not provided and ask to again submit the documents which is like a vicious cycle now .

Reasons for wanting to keep hold of the card with hopefully increased limit.
1. My oldest card so helps with credit rating.
2. Lounge benefits as I have opted for add on for the missus.
3. Increased limit will help me utilise the card more without seeming like I'm over using the limit.. will also help to waive the 3.5k annual fees.

What do u guys think?? should I just give up and close the card account or is there any other way to increase the limit.

SBI is slow in LE.. V Slow.. Dont push.. diversify to other cards... Use SBI for Sale discount