Applying Credit Card Against FD

[Aman]

Hello Experts & Members!

I wanted some guidance regarding applying CC against FD. I am a Preferred Tier HDFC Account Holder. I am aiming to get a Millennia CC (at least) against FD. Can you help me with what amount FD I should make with the bank or for what amount should I settle? As I checked, the minimum eligibility criteria is of Rs. 25K salary for Millennia, so please help me the FD amount I should consider.

Apart from this, please utilize this thread for helping others on this topic & try to make this an exhaustive one-stop-shop for applying CC against FD. Thanks!

 

[asen]

Hello Experts & Members!

I wanted some guidance regarding applying CC against FD. I am a Preferred Tier HDFC Account Holder. I am aiming to get a Millennia CC (at least) against FD. Can you help me with what amount FD I should make with the bank or for what amount should I settle? As I checked, the minimum eligibility criteria is of Rs. 25K salary for Millennia, so please help me the FD amount I should consider.

Apart from this, please utilize this thread for helping others on this topic & try to make this an exhaustive one-stop-shop for applying CC against FD. Thanks!

Hdfc is giving unsecured Millennia credit card as pre-approved basis for most of the regular HDFC account holders with just maintaining about 30k monthly balance in avg.

Is there any specific reason you want FD based card? Also, you don’t need to meet any salary criteria for FD based card. Salary criteria is for the unsecured card only.

 

[Aman]

Hdfc is giving unsecured Millennia credit card as pre-approved basis for most of the regular HDFC account holders with just maintaining about 30k monthly balance in avg.

Is there any specific reason you want FD based card? Also, you don’t need to meet any salary criteria for FD based card. Salary criteria is for the unsecured card only.

I have healthy balance maintained in my account but I haven't yet gotten the pre-approved card intimation. My relation with HDFC is of 8-9 months. Is there something I can do so I can get a pre-approved unsecured CC?

I know that if issuing against FD we do not need to meet any criteria, I mentioned that as a reference for FD amount. For example, can I make a FD of 30-40K & get a Millennia CC?
The only reason honestly is to get the card since I have not been given yet.

 

[asen]

I have healthy balance maintained in my account but I haven't yet gotten the pre-approved card intimation. My relation with HDFC is of 8-9 months. Is there something I can do so I can get a pre-approved unsecured CC?

I know that if issuing against FD we do not need to meet any criteria, I mentioned that as a reference for FD amount. For example, can I make a FD of 30-40K & get a Millennia CC?
The only reason honestly is to get the card since I have not been given yet.

You should get pre-approved offer from HDFC as you are already maintaining good balance. Check if your city pincode falls in credit card serviceable location of HDFC. Better call your RM, ask him for credit card offer. You can also directly apply for credit card online with hdfc website. You may or may not need to provide income documents. If card issued then you can convert it to LTF by achieving spend target of Rs. 50k within 90 days. (Ongoing offer)

 

[Aman]

You should get pre-approved offer from HDFC as you are already maintaining good balance. Check if your city pincode falls in credit card serviceable location of HDFC. Better call your RM, ask him for credit card offer. You can also directly apply for credit card online with hdfc website. You may or may not need to provide income documents. If card issued then you can convert it to LTF by achieving spend target of Rs. 50k within 90 days. (Ongoing offer)

Thank you for prompt response.
I'll take it up with my RM. I am from Mumbai so no issues on that front.

Hello Experts & Members!

I wanted some guidance regarding applying CC against FD. I am a Preferred Tier HDFC Account Holder. I am aiming to get a Millennia CC (at least) against FD. Can you help me with what amount FD I should make with the bank or for what amount should I settle? As I checked, the minimum eligibility criteria is of Rs. 25K salary for Millennia, so please help me the FD amount I should consider.

Apart from this, please utilize this thread for helping others on this topic & try to make this an exhaustive one-stop-shop for applying CC against FD. Thanks!

What amount of FD should suffice for Millennia CC?

 

[TechnoFinoTechnoFino is verified member.]

I have healthy balance maintained in my account but I haven't yet gotten the pre-approved card intimation. My relation with HDFC is of 8-9 months. Is there something I can do so I can get a pre-approved unsecured CC?

I know that if issuing against FD we do not need to meet any criteria, I mentioned that as a reference for FD amount. For example, can I make a FD of 30-40K & get a Millennia CC?
The only reason honestly is to get the card since I have not been given yet.

Ask your rm to get approval for you on the basis o your relationship.

 

[Aman]

Update: I enquired at my branch, the CC rep told me that HDFC issues CC against FD but the starting FD amount is 1 Lakh upwards. Seems high to me as I am not willing to block 1 Lakh or so in FD. I have not yet gotten a pre-approved offer & I want to get a CC issued. I asked if I can get a CC by doing a FD of 30-40-50K for a Millennia CC but he denied.
Can anyone help from similar experience at HDFC or I should look for other bank CC? If so please guide with Millennia level CC from other banks that I can apply & what FD amount should be reasonable.
Thanks!

I have been wondering the same. RM says you can wait till the offer reflects in your account. Anyways, in dire situation, please help with the amount of FD I should do to acquire Millennia from HDFC or equivalent CC from other banks? Just for my knowledge so I can negotiate with the CC rep.