Ways to Boost Your SBI Credit Card Limit and Its Advantages

Credit cards have revolutionized economies worldwide and given people the ability to access financial resources during emergencies. However, credit cards also have a limit, and once that limit is reached, cardholders face an over-limit fine. The SBI credit card also has its own credit limit unique to each card and dependent on various factors. To understand the credit limit on SBI cards, let's delve deeper.

How to Increase Your SBI Credit Card Limit

SBI offers two ways for credit card customers to increase their credit limits.

1. Pre-approved credit limit offer

2. Credit limit increase on request

Pre-Approved Credit Limit Offer

SBI is responsible for identifying customers eligible for pre-approved limit enhancement based on its internal risk policy. Eligible customers will receive an SMS or email from the bank with details of the offer. Additionally, customers can find the offer listed in their monthly statement or online account.

Customers who are eligible for the pre-approved limit enhancement offer don't need to provide any documents but will need to send their acceptance to the bank. Once you receive intimation from SBI concerning the credit limit enhancement, you can accept the offer by following any of these methods:

1. Net banking: Log into SBIs website exclusive for credit cards, www.sbicard.com and click on 'Offers or Benefits' from the menu on the left-hand side. Locate 'Credit Limit Increase offer' on your account and click submit.

2. Customer Care: SBI has two helplines that you can call to accept the offer.

3. Send an SMS: Send an SMS containing the last four digits of your SBI credit card, on which the limit increase has been offered from your registered mobile number.

Credit Limit Increase on Request

If you don't receive a pre-approved offer from SBI, you can still opt for a credit limit increase by directly contacting the bank. Check your eligibility by calling SBI's customer helpline numbers. If you are eligible, your application will be processed based on your income documentation method. You need to provide recent income documents to convince the banker that you can handle much higher credit limits without defaulting. The income documents accepted for credit limit revision include the last two months' salary slips, Form 16 and income tax returns IV. You can submit the soft copies of the above documents at www.sbicard.com/email or mail them to Correspondence Department, DLF Infinity Towers, Tower C, 10-12 Floor, Block 2, Bldg 3, DLF Cyber City, Gurgaon – 122002.

Your request for an increased credit limit will be processed upon receipt of the necessary documents, subject to the bank's internal risk policy.

SBI Credit Card Limit FAQs

Will I need to make any payments to increase my credit limit? No, there is no need for any payment to be made to increase your credit limit.

Will an increase in credit limit harm my credit score? An increase in credit limit can actually improve your credit score if your bills are paid on time. However, requesting a frequent increase may lead to a negative impact on your credit score.

Am I able to request for a reduction of my credit limit? Yes, you have the option to request a reduction in your credit limit.

Can I apply for an increased credit limit through offline channels? Yes, you can visit your nearest SBI branch and seek assistance from a bank representative to increase your credit limit.

Will there be any impact on my credit score if my credit limit is reduced? No, there will be no impact on your credit score if your credit limit has been reduced. It is still crucial, however, that you pay your credit card bills on time to maintain a healthy credit score.

What is the helpline number for SBI credit card enquiries? For all matters related to your SBI credit card account, you may contact the helpline at 1860 180 1290.

Which documents do I need to apply for an SBI credit card? To apply for an SBI credit card, the following documents are required: Form 16, ITR VI, and the last two months' salary slips.

How is the SBI credit card limit determined? The credit card limit is determined by SBI Card, taking into account numerous factors such as the applicant's income, age, and liabilities, among others. The SBI credit card limit is determined after careful deliberation of these variables.

Is it advisable to increase my SBI credit limit? Yes, it is recommended as an increased credit limit can raise your credit score by reducing your credit utilisation ratio. This is possible only if you don't exhaust your higher credit limit all at once.