Should I close my FD card?

[me_sovon]

I have been seeking a credit card from Axis Bank, but I have faced multiple rejections: twice for the Flipkart Axis card and twice for the MyZone credit card. I suspect that my second MyZone application was declined due to the short interval between the two applications.

During my most recent application for the MyZone credit card, a physical KYC was conducted, during which the agent suggested that I open a library account. Consequently, I now also hold a savings account with Axis Bank.

Following the rejection, I received a call from my branch advising me to consider a fixed deposit (FD) based credit card and to maintain this card for at least three months.

As I approach the end of this three-month period, I have several questions:

1. Should I close the card?
2. Should I keep it for a few more months to potentially qualify for a pre-approved offer for an unsecured card?
3. Does the pre-approved offer depend on the FD card?

My current CIBIL score is 781, and I have three unsecured credit cards.

 

[hender]

Yeahh for 15k FD, getting 12k limit.
Myzone Visa LTF
No no drawbacks even no advantage I guess. Just a secured card showing on my cibil.

BM has nothing to say, from the beginning I know that they are completing their FD target, but still thought that atleast I can use the card on Swiggy Zomato, so I took the card.

If you can keep FD, keep it, Close the। Credit card...wait for sometime, meanwhile do transaction from account, in case of urgent need, you can again create FD card.
Rest Pray 🙏, भगवान बहुत दयालु हैं

 

[me_sovon]

If you can keep FD, keep it, Close the। Credit card...wait for sometime, meanwhile do transaction from account, in case of urgent need, you can again create FD card.
Rest Pray 🙏, भगवान बहुत दयालु हैं

I understand, 3 months complete hone ke baad call pe ek unsecured card ka request karke dekhunga milta hai to achhi baat hai. Nehi to closure request dal dunga, phir ek do mahine baad FD bhi close kar dunga

 

[hender]

Yeahh I'm doing All my daily transaction from this account and maintaining the 25k balance. After completing the 3 months, I am gonna close the fd card, as it's only have 12k limit and no Swiggy Zomato offers are applicable so it's totally waste to continue.

Hey,
Someone asked me Axis myZone Rupay CC on FD, For 15-18 K FD
1- 80% or 90% FD Limit ?
2- Is it possible to increase /decrease FD/FD card limit later ?
3- can 2nd FD card be issued for higher FD Limit, later?
4-For sale offer Amz, FK for mobile etc FD card get Disc ?
5-Any charges for Opening/Closing FD card?
6- Axis myZone RuPay - do they offer Free benefits ? is it good in UPI pymt ?
7- If just use with full limit for purchase online, and repay same time, Will it count as 100% utilisation ?

Yeahh for 15k FD, getting 12k limit.
Myzone Visa LTF
No no drawbacks even no advantage I guess. Just a secured card showing on my cibil.

BM has nothing to say, from the beginning I know that they are completing their FD target, but still thought that atleast I can use the card on Swiggy Zomato, so I took the card.

 

[me_sovon]

Hey,
Someone asked me Axis myZone Rupay CC on FD, For 15-18 K FD
1- 80% or 90% FD Limit ?
2- Is it possible to increase /decrease FD/FD card limit later ?
3- can 2nd FD card be issued for higher FD Limit, later?
4-For sale offer Amz, FK for mobile etc FD card get Disc ?
5-Any charges for Opening/Closing FD card?
6- Axis myZone RuPay - do they offer Free benefits ? is it good in UPI pymt ?
7- If just use with full limit for purchase online, and repay same time, Will it count as 100% utilisation ?

80% of the FD limit

I think it's not possible to increase or decrease the FD limit, I didn't see any option so I'm not sure

Also still there is an option available for FD card, so maybe it's possible to take another FD card, but I think it's possible after 3 months of the first one.

On flipkart Amazon it will work as normal core card

Premature closure charges are there on the interest amount, but no idea about the exact amount, maybe 3 to 4% I'm not sure

In my case I asked them for s rupay varient but after creating the FD I was getting only visa and master card option, my RM told me that on rupya card is available for FD cards

If you use your 100% and repayment the full amount it will not count as 100% also it takes 24 to 48 hours to update the amount, so if you repay the amount instantly, it will not harm your utilisation

 

[hender]

80% of the FD limit

I think it's not possible to increase or decrease the FD limit, I didn't see any option so I'm not sure

Also still there is a option available for FD card, so maybe it's possible to take another FD card, but I think it's possible after 3 months of the first one.

On flipkart Amazon it will work as normal core card

Premature closure charges are there on the interest amount, but no idea about the exact amount, maybe 3 to 4% I'm not sure

In my case I asked them for s rupay varient but after creating the FD I was getting only visa and master card option, my RM told me that on rupya card is available for FD cards

If you use your 100% and repayment the full amount it will not count as 100% also it takes 24 to 48 hours to update the amount, so if you repay the amount instantly, it will not harm your utilisation

Thanks a lot buddy, few more
1- Cibil hit or not ?
2- FD Card opening closing charges, not FD premature charge?
3- Timeline of the complete process?

 

[me_sovon]

Thanks a lot buddy, few more
1- Cibil hit or not ?
2- FD Card opening closing charges, not FD premature charge?
3- Timeline of the complete process?

Yes cibil was hit
LTF Card so no charges for card
10 minutes to create the fd and complete the card selection
less than 24 hours to receive the approval sms and virtual card