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Old 26th September 2022, 21:59   #5821
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Re: The Credit Card Thread

Any good recommendations on the RuPay credit cards?
I am just trying to be an early adaptor of the RuPay Credit card.
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Old 27th September 2022, 12:10   #5822
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Re: The Credit Card Thread

My Ongoing Ordeal with HDFC. They managed to drag me to branch which even SBI could not where I fulfill all my banking needs.

My application for credit card got disapproved without any reason and was advised to visit branch. Branch people have no clue on rejection with one third party claiming that chances of me getting card are next to nil as i don't have a savings account. I knew he was bluffing so reached out to customer desk and same story again. She spoke to some higher up and he offered me a life time free card of my choice if I open a savings account.

Other odd thing is that they want to visit my home and are almost adamant on it for account opening. Have politely declined the home visit. Will visit the branch if I end up opening a savings account at all.

Just wondering what experience others have. They insist that unless I open a savings account, they cannot issue me a credit card.

Last edited by Chetan_Rao : 27th September 2022 at 13:03. Reason: Typos and formatting. Please proof-read posts before submitting. Thanks.
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Old 27th September 2022, 12:41   #5823
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Re: The Credit Card Thread

Quote:
Originally Posted by .sushilkumar View Post
My Ongoing Ordeal with HDFC...

Just wondering what experience others have. They insist that unless I open a savings account, they cannot issue me a credit card.

Are you desperate for a HDFC card ? You dont need a savings account in HDFC for a card. Something not right and I think they are trying to meet numbers.

Look for others like Axis or Amex or even SBI.

Last edited by Chetan_Rao : 27th September 2022 at 13:04. Reason: Quoted post trimmed.
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Old 27th September 2022, 12:48   #5824
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Re: The Credit Card Thread

Quote:
Originally Posted by bharanidharang View Post
Are you desperate for a HDFC card ? You dont need a savings account in HDFC for a card. Something not right and I think they are trying to meet numbers.

Look for others like Axis or Amex or even SBI.
I know I don't need a savings account for card. Hence the post as I thought something might have changed.

I am not desperate for sure. Problem is my organinsation have automated fuel reimbursements tied to HDFC.

Last edited by Chetan_Rao : 27th September 2022 at 13:01. Reason: Typos.
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Old 27th September 2022, 14:25   #5825
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Re: The Credit Card Thread

Quote:
Originally Posted by .sushilkumar View Post
I know I don't need a savings account for card. Hence the post as I thought something might have changed.

I am not desperate for sure. Problem is my organization have automated fuel reimbursements tied to HDFC.
Use the corporate relationship and get the card. Don't open savings account just to get a card.
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Old 27th September 2022, 16:19   #5826
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Re: The Credit Card Thread

Quote:
Originally Posted by .sushilkumar View Post
Just wondering what experience others have. They insist that unless I open a savings account, they cannot issue me a credit card.
Mine was slightly different ordeal, but I still wanted to share it here. Back in 2020, I was already having a DB CC. But it was not LTF. When I requested to make it LTF, they did ask me to open a basic SB account (minimum balance of 10k) and then promised me to comvert my DB CC to LTF, if i do that. I did that and since then the card is LTF. I did not see any issue in opening the SB account, except that 10k (minimum balance amount) is kind of getting struck there in that account till that account is active. I have disabled the ATM card also so as to save the annual manitenance charges for that card. And, they did not visit my house for verification as they followed e-KYC process at that time.
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Old 27th September 2022, 18:59   #5827
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Re: The Credit Card Thread

Quote:
Originally Posted by .sushilkumar View Post
My Ongoing Ordeal with HDFC. They managed to drag me to branch which even SBI could not where I fulfill all my banking needs.

Just wondering what experience others have. They insist that unless I open a savings account, they cannot issue me a credit card.
Now a days there are lot of target for account opening, credit card linked to bank account, etc for branch staff especially for new branches. If you open insta account with Aadhar, they don't get credit and probably lose incentive. And same for credit card. So it is just the branch executive trying to get an account opened and credit card for their own incentive.

Now they need to provide valid reason for credit card rejection as mandated by RBI. You can write to their grievance or banking complaint if you have time and patience.
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Old 27th September 2022, 21:15   #5828
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Re: The Credit Card Thread

In my experience, HDFC branches & RMs are not very keen on servicing CC-related requests. Maybe HDFC has separate workforce for credit cards, and branches don’t get any ‘quota’ for fulfulling these requests. I have experienced branch executives calling “experts” when I had specific query. That too because I know them personally. Else, they might just ‘shoo’ me off. Also, applying online on HDFC website leads to no-where except multiple hard pulls on your credit history. What works best is if credit card executive themselves call you or if your employer has tie up with some executive. It is an almost-sarkari bank at ground level although their products and features are very good.

Last edited by Comrade : 27th September 2022 at 21:17.
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Old 28th September 2022, 01:31   #5829
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Re: The Credit Card Thread

Quote:
Originally Posted by .sushilkumar View Post
Just wondering what experience others have. They insist that unless I open a savings account, they cannot issue me a credit card.
I opened three hdfc accounts for my family this past month. One in Udipi for my son as he joined college and needed gpay. Got the kit instantly and had to gpay to the bank employee money so he deposited a cheque on my behalf the next day. Took about three days to be operational and minimum balance was 5k. I then opened one for me in Chennai in Kanchipuram district for myself for one more gpay fall back as I seem to be getting gpay failures with axis more and more. Here the min balance is only 2500 and I visited the branch. Got the kit instantly and activated in two days. For my daughter did it online but took almost two weeks to activate due to kit postage etc. Both the Chennai accounts I was able to fund with gpay and considering a low minimum balance might be worthwhile to go for such a branch. The online process to open the account is quite easy and you can choose any branch of your choice.
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Old 30th September 2022, 21:38   #5830
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Re: The Credit Card Thread

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Originally Posted by SilentEngine View Post
Received my HDFC Infinia card today!
.
Just for reference, what is the annual charge for this Infinia card? HDFC is offering me the Infinia Metal card with an annual charge of 12,500/-. My current card is from Citibank and I donít recall having paid any annual charge through the last decade at least.
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Old 30th September 2022, 22:19   #5831
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Re: The Credit Card Thread

Quote:
Originally Posted by DaiusPitar View Post
Just for reference, what is the annual charge for this Infinia card? HDFC is offering me the Infinia Metal card with an annual charge of 12,500/-. My current card is from Citibank and I donít recall having paid any annual charge through the last decade at least.
Yes, annual charge is 12,500. Welcome reward points of 12,500 can be used to recover equal value. In my case though, first year is free and I wonít get any welcome reward points.
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Old 30th September 2022, 23:10   #5832
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Re: The Credit Card Thread

Quote:
Originally Posted by .sushilkumar View Post
Just wondering what experience others have. They insist that unless I open a savings account, they cannot issue me a credit card.
Quote:
Originally Posted by bharanidharang View Post
Look for others like Axis or Amex or even SBI.
Seems to be the new modus operandi. Visited Axis Bank to enquire regarding their CC vs FD offer. They insisted on opening a savings account before the FD and CC.

So another 12K would be stuck in the savings account.


Quote:
Originally Posted by kavensri View Post
I did not see any issue in opening the SB account, except that 10k (minimum balance amount) is kind of getting struck there in that account till that account is active. I have disabled the ATM card also so as to save the annual manitenance charges for that card.
The low cost of funds in savings
accounts is apparently the catch. They hope you will fund your account further post opening.

The ATM card does not have any charges. It's the Debit card variant that attracts charges due to the additional features it offers.


Quote:
Originally Posted by diyguy View Post
I opened three hdfc accounts for my family this past month.
One in Udipi for my son - minimum balance was 5k.
one for me in Chennai in Kanchipuram district - Here the min balance is only 2500
For my daughter did it online

The online process to open the account is quite easy and you can choose any branch of your choice.
The minimum balances to be maintained across Metro / Urban / Semi-urban and Rural branches are different and this is the case across all banks.

However, do note that there are charges for certain types of transactions that are done in your account in non-home branch locations. So what you save by way of balance maintenance can easily be lost due to charges if you are not careful with your transaction patterns.
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Old 30th September 2022, 23:36   #5833
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Re: The Credit Card Thread

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Originally Posted by Fx14 View Post
The low cost of funds in savings accounts is apparently the catch. They hope you will fund your account further post opening.
I am making sure that the balance stays at around 11k always

Quote:
Originally Posted by Fx14 View Post
The ATM card does not have any charges. It's the Debit card variant that attracts charges due to the additional features it offers.
Thanks for this gyan. Till I saw your message here, I did not know even knew that ATM card and Debit card are two different things. After reading your message, I went and read about them. HDFC was charging me more than Rs500 for the debit card AMC.
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Old 30th September 2022, 23:45   #5834
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Re: The Credit Card Thread

Quote:
Originally Posted by Fx14 View Post
Seems to be the new modus operandi. Visited Axis Bank to enquire regarding their CC vs FD offer. They insisted on opening a savings account before the FD and CC.
I had my way after a escalation to their greivance officer & firm no to savings account. Most probably, they realise that it's better to have something than nothing at all.
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Old 1st October 2022, 05:47   #5835
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Re: The Credit Card Thread

I dont know about you guys but ever since the pandemic started and UPI transactions became almost the norm, my credit card usage has drastically declined. Less shopping in general, and usage of UPI for almost all retail POS and online payments has done the deed I suppose. I dont even have the credit card of my primary Banking service provider anymore, just some legacy cards over the last 8-9 years.
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