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One Card offers upgrade from FD to unsecured card

Dexter

TF Premier
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I have got an offer in the OneCard app to upgrade to unsecured card. I had FD of 10k. Now they are giving limit of 3.6L and processing refund of FD.

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Earlier, I had SBM bank Visa card. Now it is offered in Mastercard CSB bank. I had to complete KYC again.

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I have got an offer in the OneCard app to upgrade to unsecured card. I had FD of 10k. Now they are giving limit of 3.6L and processing refund of FD.

View attachment 45188

Earlier, I had SBM bank Visa card. Now it is offered in Mastercard CSB bank. I had to complete KYC again.

View attachment 45189
Many congratulations !!
Well done.. proably FY Ending effect ... Still it seems you earned this by your good spend and payment profile.
 
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It might be they are losing customers. Also, the fd rates are around 7% which is almost above the market rate
How is it above the market rate? Almost every banks have similar rates...

Doubt they are losing money over fd.
If they are losing customers I think they'd try to onboard new customers. Their third party merchant offers have been Amazing for the past few months or so.

Consistently giving 20% upto 500 in major departmental stores and many more. They'd rather spend on onboarding than retaining existing customers.

Anyway, either of us could be right or none of us..just my 2 cents
 
How is it above the market rate? Almost every banks have similar rates...

Doubt they are losing money over fd.
If they are losing customers I think they'd try to onboard new customers. Their third party merchant offers have been Amazing for the past few months or so.

Consistently giving 20% upto 500 in major departmental stores and many more. They'd rather spend on onboarding than retaining existing customers.

Anyway, either of us could be right or none of us..just my 2 cents
8.5% (9% SEnior citizen) given by all the SFB nowadays.
 
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