Credit card usage in India has grown multi-fold. According to RBI data, there were 58.69 million credit cards in use as of September 2020. All credit cards come with limits fixed on their usage, which is set based on various factors like the income of the applicant, credit score, other loans, etc.
The various types of credit card limit for an SBI credit card are
At any point, you may feel there is a need to increase your credit limit on your SBI credit card, learn about the various ways in which you can do it.
With an increased credit limit, you would be able to incur more expenditure on your credit card. SBI allows you to increase your credit limit in 2 different ways.
Before going ahead with the steps involved in increasing your credit limit through a pre-approved offer, it is good to know that only select SBI credit card users would get pre-approved offers. These offers are released based on the risk and credit assessment done by SBI.
Eligible credit cardholders could get intimation about the pre-approved offer through their registered Mobile Number via SMS, on Email, on their Monthly credit card statement, or in Post Login Section on the SBI Card website.
There are various ways in which you can get your credit limit increased after getting the preapproved offer. The best thing about a pre-approved credit limit increase is that you do not submit any documents to get your credit limit increased.
You could follow these steps on the website to get your credit limit increased
The chatbot ILA (Interactive Live Assistant) can be found on the bottom right-hand side of the screen on the SBI Card website
After getting your pre-approval message, you could get the limit increased just by sending an SMS. You could SMS the following code INCR XXXX (last 4 digits of your credit card) to 5676791 from your registered mobile number to get your credit limit increased.
After you receive the pre-approval, you could call the customer care numbers 1860- 500-1290, 39- 02- 02- 02 (prefix local STD code), or 1800- 180- 1290 and follow the IVRS process to give your consent for increasing the credit limit on your credit card.
It may be possible that you require a credit limit that is higher than the one approved by SBI. In this case, you could place a request for a credit limit increase.
You could call the SBI Cards customer care number at 39- 02- 02- 02 (prefix local STD code) or 1800- 180- 1290 and check with the customer service care executive about your eligibility for a credit limit increase.
Unlike a pre-approved credit limit increase offer, a credit limit increase on request will need the submission of income documents. This is needed to assure the bank that you are well placed to handle the increase in your credit limit.
The accepted documents for credit limit increase with Income documentation are
You could send in the soft copies of the documents by mail by using this link. Or you could also send hard copies of the documents to the address mentioned here
Correspondence Department,
DLF Infinity Towers, Tower C, 10-12 Floor,
Block 2, Bldg 3, DLF Cyber City,
Gurgaon – 122002
Your credit limit may be increased based on the assessment of your documents and SBI Card’s internal risk policy.
At the outset, increasing your credit limit might seem like a nice feature to have, but there are certain points that you should consider before going in for an increased credit limit on your credit card.
Some of the income-related documents accepted by SBI for credit limit increase are:
While a credit limit increases the amount that you can spend on your credit card by giving your card a higher limit, a credit card upgrade means you get a higher category of credit card that could give you better benefits. These benefits could be more reward points, a higher category of lounge access when traveling, co-branded/partnership benefits, etc.
However, you have to bear in mind that better benefits may come at a higher annual fee or higher minimum spend throughout the year. Make sure you understand these factors well before applying for a credit card upgrade.
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