Increase Credit Card Limit Sbi

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SBI Credit Card: Understanding Total Credit Limit and Available Credit Limits

Credit Limit: This refers to the highest amount of credit that you can utilize on your credit card.

Available Credit: It represents the remaining credit balance that is currently accessible for making purchases.

To check your available credit, simply send an SMS with the message “AVAIL XXXX” (XXXX being the last four digits of your SBI Card) from your registered mobile number.

How to Increase My Credit Card Limit?

  • You can get your credit limit increased by 2 methods: Pre-approved Credit Limit Offer ( Zero document approval )
    • SBI Card regularly identifies select cardholders for a ‘Pre-Approved Credit Limit Increase’ offer, basis internal policy.
    • Eligible cardholders will receive an increased limit offer on their registered mobile number via SMS, or via Email, Monthly Statement and in the Post Login Section.
    • Eligible cardholders can avail this offer without any additional documentation requirement.

    Some of the documents required for increasing your credit card limit with SBI include Form 16, ITR VI, recent salary slips from the last two months, and bank statements covering a period of two months.

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    Soft copies of the aforementioned documents can be submitted to us at sbicard.com/email

    To increase your credit card limit with SBI, you have the option to send your income documents via mail to the Correspondence Department at DLF Infinity Towers in Gurgaon.

    Once the income documents have been received and reviewed, the credit limit increase request will be processed in accordance with our internal Risk Policy.

    Is it possible to exceed the credit card limit by making extra payments?

    An overpayment does not have the ability to increase your credit limit, even if it is only for a temporary period. Your credit limit will stay unchanged, and instead, you will have a negative balance that will be deducted from your next statement. Factors such as credit score and income are typically considered when determining a credit limit increase.

    – Overpayments do not boost your credit limit.

    – Your credit limit remains the same.

    – Negative balances from overpayments are applied towards future statements.

    – Credit score and income play a role in determining an increased credit limit.

    How can I verify my eligibility for a pre-approved credit limit increase offer?

    • Login to sbicard.com and click on ‘Offers’ or ‘Benefits’ tab on left hand side. Check for any credit limit increase offer on your account & click on the ‘Submit’ button. • In case you are eligible, then send SMS ‘INCR XXXX’ (last 4 digits of your card number) to 5676791 from your registered mobile number, or write to us at sbicard.com/email. • Alternatively, call us on the helpline number at 39 02 02 02 (prefix local STD code) or 1860 180 1290.

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    Is it possible to exceed my SBI credit card limit?

    When it comes to Overlimit transactions, SBI Card has the authority to determine how much additional spending they will allow beyond your credit limit. This means that even if you have reached your credit limit, there might still be a possibility of making purchases or payments above that limit, depending on their discretion.

    To avoid any confusion or potential issues with over-limit spending, it is advisable for cardholders to keep track of their expenses and regularly monitor their available credit balance. Being aware of your current outstanding balance can help prevent unintentional over-limit transactions and ensure responsible use of your credit card.

    What is the Cash Limit for Credit Cards?

    The cash limit is the maximum amount of money that you can withdraw as cash from your credit card. When you withdraw cash using your credit card, you may be charged interest fees and a cash withdrawal fee.

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    What is the maximum number of times I can raise my credit card limit?

    Before proceeding with your request to increase your credit card limit with SBI, there are three important qualifications you should keep in mind. Firstly, it is generally required that you have been a cardholder for at least three months before being eligible to apply for a credit limit increase. This ensures that you have established a payment history and demonstrated responsible usage of the card.

    Secondly, most banks including SBI typically allow customers to request an increase in their credit limit only once every six months. This policy helps prevent excessive borrowing and encourages responsible financial management.

    Lastly, when requesting a specific credit limit increase from SBI or any other bank, they may review your credit report as part of their evaluation process. This allows them to assess your overall financial health and determine whether granting the requested increase aligns with their risk assessment criteria.

    Remember to always use English while communicating with SBI or any other Indian banking institution regarding such matters.

    When can I raise my credit limit?

    In India, credit accounts that have been active for a minimum of three months are eligible for an increase in their credit card limit.