Biz black approval

[JustMak]

Is it mandatory for hdfc biz black approval to have hdfc savings or current account?

Not necessarily. We applied for a second BizBlack card in my family without HDFC savings account. I had the account with bank and same card, but said family member didn't had any relationship. Application went thru and card was approved in-principle (as all formalities were met); but was later denied.

Spoke with RM on my behalf (with Imperia status) that we will be adding the said member to family banking; and now the card is approved and dispatched; still haven't opened the account though.

So they are flexible, provided you know which screw to tighten with HDFC!!

 

[drsel]

Not necessarily. We applied for a second BizBlack card in my family without HDFC savings account. I had the account with bank and same card, but said family member didn't had any relationship. Application went thru and card was approved in-principle (as all formalities were met); but was later denied.

Spoke with RM on my behalf (with Imperia status) that we will be adding the said member to family banking; and now the card is approved and dispatched; still haven't opened the account though.

So they are flexible, provided you know which screw to tighten with HDFC!!

HDFC is asking me for a open a saving account with 5 lakh deposit in order to apply for infinia card.

Q1) Do I need to open a savings account at all?
Q2) Or can I open a savings plus account with the minimum 25000?

 

[HumorSimpson]

HDFC is asking me for a open a saving account with 5 lakh deposit in order to apply for infinia card.
Do I need to open a savings account at all?
Or can I open a savings plus account with the minimum 25000?

Another sign of devaluation. People are read to Park 10L to get this card earlier, but they never budged till an ulip is bought. Now with 5L it's dirt cheap and sure indicator of devaluation. Wait for 2 months and go for infinia reserve.

 

[JustMak]

HDFC is asking me for a open a saving account with 5 lakh deposit in order to apply for infinia card.
Do I need to open a savings account at all?
Or can I open a savings plus account with the minimum 25000?

With Infinia being invite only, you may need to establish some relationship with bank so that BM could refer you for the same.

But 5L deposit might be a stretch. Try to negotiate as best as you can.

 

[JustMak]

Another sign of devaluation. People are read to Park 10L to get this card earlier, but they never budged till an ulip is bought. Now with 5L it's dirt cheap and sure indicator of devaluation. Wait for 2 months and go for infinia reserve.

That could be the case. But they won't be dolling out Infinia Reserve at start just like that. It might work in favour to have some credible relationship with bank by the time it launches, so to have better chance of getting an approval.

 

[HumorSimpson]

That could be the case. But they won't be dolling out Infinia Reserve at start just like that. It might work in favour to have some credible relationship with bank by the time it launches, so to have better chance of getting an approval.

@drsel already has axis MB. Still for some reason if he wants infinia, the 5L deposit is the sweetest deal.

cc : @SSV

 

[sourpai]

HDFC is asking me for a open a saving account with 5 lakh deposit in order to apply for infinia card.

Q1) Do I need to open a savings account at all?
Q2) Or can I open a savings plus account with the minimum 25000?

5L deposit is the best deal I have heard till now... It is nothing compared to ULIPs bank usually asks for ETBs

I think NTB to HDFC bank is helping you. If you already had HDFC account, this offer would not have been given

 

[card_007]

Not necessarily. We applied for a second BizBlack card in my family without HDFC savings account. I had the account with bank and same card, but said family member didn't had any relationship. Application went thru and card was approved in-principle (as all formalities were met); but was later denied.

Spoke with RM on my behalf (with Imperia status) that we will be adding the said member to family banking; and now the card is approved and dispatched; still haven't opened the account though.

So they are flexible, provided you know which screw to tighten with HDFC!!

There seems to be some ghapla on this front. The person I was dealing with at branch is not very good and transparent. I still opened an account since the application was stuck for a ling time. Also, using the same account to add a joint family member for a new payzapp wallet account 🙂

 

[Copycat]

Finally did you get it?

Yes, I did

 

[HumorSimpson]

Yes, I did

Please share your whole story !!!

 

[Copycat]

Please share your whole story !!!

Nothing much. Applied through my RM. The CC team then checked for eligibility. Found I was eligible. Had to close MB+ card. Then they issued this card.
More snippets here:

Post in thread 'Best credit cards for taxes payment (like GST and income tax)?'

Jun 5, 2024

You will not get it if you are salaried, it's only for business people.
A floater card is not free.
you have to pay the normal joining fee and annual fee

But I am salaried person, Will they give biz black card to me? Also even if I take it as a floater card won't I have to pay the fees for it?

Try with your branch, even if you are salaried
I have applied and am hoping they will issue it. I will update once I know.
These asked me to give a statement of income, ITR and payslips
Note: My case may be different from yours as I filed ITR 3 last year (due to a loss from intraday...

• Copycat

Post in thread 'Hdfc launch 4 new business credit card'

Jun 19, 2024

The credit card team finally got back to my RM and said I was eligible for Biz Black even though my primary income source is salary and tertiary income source is short term trading in equities. So I filled the application form today.

But now they want me to close the Moneyback+ card that I hold before proceeding with the processing for Biz Black. Isn't it possible to hold one personal (Moneyback+) and one business card (Biz Black)?. Ordinarily I would have closed Moneyback+ without a second thought as I hardly ever use it but now I'm waiting for the spend based voucher of Rs 500, so I...

• Copycat

Post in thread 'Best credit cards for taxes payment (like GST and income tax)?'

Jun 23, 2024

Were you successful?

Approval has been granted. I have to cancel my Moneyback+ card first and then my application for Biz Black will be processed. Cancelling MB+ tomorrow as today is the statement generation date and I wanted to see that all dues were settled
Will post once I have the card in hand

• Copycat

• 

Post in thread 'Best credit cards for taxes payment (like GST and income tax)?'

Jul 27, 2024

Were you successful?

Received the card (Biz Black)

• Copycat

 

[HumorSimpson]

Nothing much. Applied through my RM. The CC team then checked for eligibility. Found I was eligible. Had to close MB+ card. Then they issued this card.
More snippets here:

Post in thread 'Best credit cards for taxes payment (like GST and income tax)?'

Jun 5, 2024

You will not get it if you are salaried, it's only for business people.
A floater card is not free.
you have to pay the normal joining fee and annual fee

But I am salaried person, Will they give biz black card to me? Also even if I take it as a floater card won't I have to pay the fees for it?

Try with your branch, even if you are salaried
I have applied and am hoping they will issue it. I will update once I know.
These asked me to give a statement of income, ITR and payslips
Note: My case may be different from yours as I filed ITR 3 last year (due to a loss from intraday...

• Copycat

Post in thread 'Biz black approval'

Jul 17, 2024

Is it possible that employees can get the biz black card?

I pay more than 12 lakhs tax. Looking to declare investments more in payroll portal while paying advance tax through income tax portal. Is this approach realistic? Please suggest

Supposedly yes. Approach the branch. I've done it and my card is approved "in-principle" though things can still go wrong. I also filed ITR-3 last year because I dabbled in intraday trading. Perhaps that helped

I assume you mean, declare lesser investments to your company, so that you can pay the advance tax on your own. Allowed. I don't declare...

• Copycat

Post in thread 'Best credit cards for taxes payment (like GST and income tax)?'

Jun 23, 2024

Were you successful?

Approval has been granted. I have to cancel my Moneyback+ card first and then my application for Biz Black will be processed. Cancelling MB+ tomorrow as today is the statement generation date and I wanted to see that all dues were settled
Will post once I have the card in hand

• Copycat

• 

Post in thread 'Hdfc launch 4 new business credit card'

Jun 19, 2024

The credit card team finally got back to my RM and said I was eligible for Biz Black even though my primary income source is salary and tertiary income source is short term trading in equities. So I filled the application form today.

But now they want me to close the Moneyback+ card that I hold before proceeding with the processing for Biz Black. Isn't it possible to hold one personal (Moneyback+) and one business card (Biz Black)?. Ordinarily I would have closed Moneyback+ without a second thought as I hardly ever use it but now I'm waiting for the spend based voucher of Rs 500, so I...

• Copycat

Post in thread 'Best credit cards for taxes payment (like GST and income tax)?'

Jul 27, 2024

Were you successful?

Received the card (Biz Black)

• Copycat

No wonder you are a copy cat to copy those many posts.

OK. I have a hdfc account . Should I go to home branch and beg them ? or any nearby ? Will they get lured if I say I will that account to their branch. I am salaried and ITR2 with way above of their 36 LPA requirement.

 

[Copycat]

No wonder you are a copy cat to copy those many posts.

OK. I have a hdfc account . Should I go to home branch and beg them ? or any nearby ? Will they get lured if I say I will that account to their branch. I am salaried and ITR2 with way above of their 36 LPA requirement.

Depends on the RM that you find. Tell them that you do either intraday and/or short term trading and therefore have to pay additional taxes. Also tell them that based on your turnover, you would/might be filing ITR-3 (if intraday then it is mandatory as that it is business income). They might agree
In my case I had actually filed ITR-3 the previous year because I stupidly dabbled in intraday for 5-7 days

 

[JustMak]

No wonder you are a copy cat to copy those many posts.

OK. I have a hdfc account . Should I go to home branch and beg them ? or any nearby ? Will they get lured if I say I will that account to their branch. I am salaried and ITR2 with way above of their 36 LPA requirement.

I actually referred my friend to my HDFC RM. Same case, high ITR but salaried. He needed BizBlack card for paying taxes for his father's business.

Bank executive declined to even accept the application. Need to prove business profession.

Apparently they get negative points (internal system) for moving ineligible applications, so he straightaway declined as for BizBlack business income is must.

Not dissuading you, please do try with your branch. You may have better luck!

 

[card_007]

I have heard that BizBlack applications are being moved to corporate team only from all branches. This could be to prevent ineligible sourcing!

 

[HumorSimpson]

I have heard that BizBlack applications are being moved to corporate team only from all branches. This could be to prevent ineligible sourcing!

In simple terms ?

 

[HumorSimpson]

Depends on the RM that you find. Tell them that you do either intraday and/or short term trading and therefore have to pay additional taxes. Also tell them that based on your turnover, you would/might be filing ITR-3 (if intraday then it is mandatory as that it is business income). They might agree
In my case I had actually filed ITR-3 the previous year because I stupidly dabbled in intraday for 5-7 days

BTW when was this ? When did you apply ?

 

[Quiksilver27]

BTW when was this ? When did you apply ?

i got it in my wifes name as a floater on her regalia.. literally with 2 signs on the floater form the card came home in 2 weeks.. no business docs, no itr and no field verification.. i applied thru a random branch in my city and not home branch so that my RM doesn't think i owe her any favours..

 

[HumorSimpson]

i got it in my wifes name as a floater on her regalia.. literally with 2 signs on the floater form the card came home in 2 weeks.. no business docs, no itr and no field verification.. i applied thru a random branch in my city and not home branch so that my RM doesn't think i owe her any favours..

which city ?

 

[Quiksilver27]

which city ?