With credit cards, the entire functionality of the economy across the world has changed. Now, for every medical emergency, a cardholder will not have to run to a bank. Financial independence will be in their pocket in the form of credit cards. However, this financial freedom also comes with a cap. Credit cards come with a credit limit for the cardholders spending beyond which invites an Over-limit fine. SBI credit cards also have their own credit limit. The credit limit on SBI cards varies from card to card and can depend on a variety of factors. Let’s take a look at the concept of credit limit on SBI cards in detail.
SBI offers two different ways for its credit card customers to revise their credit limits.
In this method, SBI takes the onus to identify credit card customers eligible for pre-approved limit enhancement based on its internal risk policy.
Eligible customers will either receive a call or an SMS/e-mail from the bank detailing the offer. They can also find them in their monthly statement as well as in their online account.
Customers eligible for pre-approved limit enhancement offer don’t have to furnish any documents but have to send their acceptance to the offer to the bank.
Once you receive intimation from SBI offering credit limit enhancement on your card, you can follow any one of the following methods to accept the offer
You can login to SBIs website exclusive meant for credit cards, www.sbicard.com, to accept limit enhancement.
Login to your account, click ‘Offers or Benefits’ from the left hand side menu, find ‘Credit Limit Increase offer’ on your account and click submit. Your acceptance will be automatically sent to the bank.
SBI has two dedicated helplines for credit card queries calling which you can tell your acceptance of your offer.
Call to 24x7 SBI credit card customer care at 1860-180-1290 or 39 02 02 02 (prefix your STD code), tell them that you have received a message or call about credit enhancement offer and your willingness to accept the offer.
You can also send last four digits of your SBI credit card on which the limit increase has been offered from your registered mobile number to avail the offer.
Send an SMS ‘INCR ABCD’ (last 4 digits of your credit card) to 5676791
When you don’t receive any such pre-approved offers from SBI, you can still apply for the enhancement by directly contacting the bank.
You can call the aforementioned customer helpline numbers to check your eligibility for credit limit enhancement. In case you are eligible, your application will be processed based on the income documentation method. By submitting your recent income documents, you need to convince the banker that you can handle much higher credit limits without defaulting.
Income documents accepted for credit limit revision are
You can submit the soft copies of the above documents at www.sbicard.com/email or you can send the same through post to Correspondence Department, DLF Infinity Towers, Tower C, 10-12 Floor, Block 2, Bldg 3, DLF Cyber City, Gurgaon – 122002.
Once the bank receives the documents, based on its internal risk policy, your request will be processed.
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