I hold an SB account with SBI. I want to have a credit card. When I asked for a credit card at the branch, they tell me that 'SBI cards Ltd' is a separate company and I should contact them to get a card. If banks like Canara Bank, UBI, Syndicate Bank, HDFC etc can sell their own credit cards, why can't SBI? After all no one can know about the financial credit worthiness of a person better than his/her banker.Why doesn't SBI offer credit cards?
SBI ATM-***-debit card is OK because it is handled by SBI directly.
SBI credit cards are issued by a private company called GE Capital Business Process Management Services Pvt Ltd. SBI may be a share holder in that company, but not involved in its day to day activities. GE does not have a good reputation. Type "SBI Cards review" in Yahoo or Google search box and search. You will find loads of negative experience of people in forum such as Mouthshut.com. GE staff move around in SBI bank premises, posing as if they are SBI staff, they use SBI name and logo and the service provided is very poor. In fact SBI card holders feel harassed and cheated. Read the reviews of people who have cut and thrown away their SBI cards (actually GE cards) before applying for one. SBI is equally guilty for allowing a third class company to use their name and logo and misleading the public. Hope RBI takes serious note of this and stop this at the earliest. SBI is such a gigantic organisation and can easily start a business on the lines similar to VISA or MasterCard in India.Why doesn't SBI offer credit cards?
Its actually SBI Cards Ltd. is a different entity ( you may call it a sister concern company ) very much under the state bank of India, the only difference is that they do not work like a govt. dept. which sbi does.
Overall you can always apply for any credit card in the market as the bankers do share your credit information through a common channel, this channel might not give your account turnover or the figures of money you saved but they tell how many loans you have or how many existing c.cards you hold and how healthy you are financially.Why doesn't SBI offer credit cards?
If u permit me a practical sol'n:
......SBI is a big fat ,overl fed organisation which is full of more employees than needed; with least regard for customer %26amp; services(which i'am sure most people will attest)...Just forget them.Their card does'nt offer any service which is unique %26amp; uncovered by others...Moreover there r cards in the market which do not charge fees...c'mon move on try people who beckon you %26amp; forget who don't need you.
Why will you take a card from SBI ? They are too big to take care of you and if SBI cards ltd is a separate company what does SBI got to do with it.? Anyway being the largest bank with over 20 million account holders(as claimed by them) SBI to the best of my knowledge charges an annual fee of Rs 50/= per card on their DEBIT CARDS which is very unfair . forget their credit cards dont take even a debit card from them
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The part of the regular cash loans for bad credit that does not go towards normal expenses is a very important resource that can be diverted towards other personal financial goals. A balance sheet should be able to determine the net worth before proceeding to plan further on how to save enough for bigger and more important purchases.
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