Can I get Pre-Approved Credit Card by doing this?

[Deleted member 21631]

I am 21M. I started doing my masters this year and I don't have any income right now. This will be my first CC.

I have Govt bank account with Student status in it, so I don't get LTF pre-approved offers and I heard that you can get per-approved offers from private bank easily, if you maintain a good bank balance. So, this is what I am doing:

1. I opened HDFC Bank DigiSave Youth A/c with 5K MAB in non-metro city. (Why HDFC? Since I see them on every offers)
2. I have already formed a 50K FD with them and activated Overdraft against FD feature. (Bank Employee said, it would help you getting the pre-approved card faster, not sure if true)
3. I am planning to maintain 4L monthly balance in the account at least.
4. I looked up some HDFC CC and some posts from this sub-reddit, thought of Millennia (Diner Club Variant) with this setup with a good CC limit (I really don't want MoneyBack+).

Could you please help me if I am on the right track to get the card or am I missing something here.

1. Maybe, my expectations are too high to get a credit card and should go for secured ones.
2. Should I have opened my account with same account balance in a different bank like ICICI to get CC?
3. By what month, should I expect to get pre-approved offers?
4. I researched that by maintaining the above account balance, I will get transferred to Preferred account in HDFC. I don't care about the benefits, but since it requires maintaining 2L monthly account balance, are there any charges if I don't do so? I am sure that I will maintain this balance for at least 3 months more, but not sure after that. So, If I get charges, I don't want to consider it. Please give me your insights on this one.

Thank you

 

[BUDHRAJ]

normally people get pre approved offers for credit card just after 3 months..
i suggest don't wait for preferred banking auto offer, ask branch rm or bm to directly upgrade your account to preferred, and then just do some transactions with upi and debit card every month and you will get offer..

credit limit offered is based on the funds in saving account..

contact branch people and upgrade to preferred asap and then just wait you will get offer after 3 months, or you can ask your rm or bm if he can get you cc, they easily provide regalia if you are preferred account customer, otherwise just wait for pre approved offer

 

[kredit]

Could you please help me if I am on the right track to get the card or am I missing something here.

1. Maybe, my expectations are too high to get a credit card and should go for secured ones.
2. Should I have opened my account with same account balance in a different bank like ICICI to get CC?
3. By what month, should I expect to get pre-approved offers?
4. I researched that by maintaining the above account balance, I will get transferred to Preferred account in HDFC. I don't care about the benefits, but since it requires maintaining 2L monthly account balance, are there any charges if I don't do so? I am sure that I will maintain this balance for at least 3 months more, but not sure after that. So, If I get charges, I don't want to consider it. Please give me your insights on this one.

Thank you

1. No need to go for secured CC. Just be patient, you will get a good offer sooner or later. DO NOT go for an entry level card in haste, especially from Hdfc.
2. ICICI cc are really easy to get as it is, so no. (ICICI Apay is a good starter card for that)
3. Can't say, maybe 3-6 months after you start maintaining sufficient funds.
4. Sometimes bank takes time to upgrade you to preferred. You should reach out to them yourself for upgradation.
No charges, they will downgrade you after a year or 2 of non maintenance of funds. But ideally you should try to keep those funds for as long as possible for better offers from the bank.

 

[Deleted member 21631]

normally people get pre approved offers for credit card just after 3 months..
i suggest don't wait for preferred banking auto offer, ask branch rm or bm to directly upgrade your account to preferred, and then just do some transactions with upi and debit card every month and you will get offer..

credit limit offered is based on the funds in saving account..

contact branch people and upgrade to preferred asap and then just wait you will get offer after 3 months, or you can ask your rm or bm if he can get you cc, they easily provide regalia if you are preferred account customer, otherwise just wait for pre approved offer

Thank you for the info!

I asked them about the upgrade. But they mentioned you need 5L monthly average balance and do some investment like ULIPs worth 1L every year. And both would not be possible for me. Since I am maintaining like 4.3-4.5L right now

When i asked about the criteria, they said for this bank branch, preferred banking minimum is 5L, not 2L. Same situation is with classic (3L maintain, and 50K investment every year)

 

[BUDHRAJ]

Thank you for the info!

I asked them about the upgrade. But they mentioned you need 5L monthly average balance and do some investment like ULIPs worth 1L every year. And both would not be possible for me. Since I am maintaining like 4.3-4.5L right now

When i asked about the criteria, they said for this bank branch, preferred banking minimum is 5L, not 2L. Same situation is with classic (3L maintain, and 50K investment every year)

For preferred you need 2L only
And for classic - 1L only

Branch people are just misleading you, tell them to upgrade to preferred if not you will shift your account to different branch..

Also if you are maintaining that much you will easily get pre approved card offer with high limit

 

[Akashn]

Thank you for the info!

I asked them about the upgrade. But they mentioned you need 5L monthly average balance and do some investment like ULIPs worth 1L every year. And both would not be possible for me. Since I am maintaining like 4.3-4.5L right now

When i asked about the criteria, they said for this bank branch, preferred banking minimum is 5L, not 2L. Same situation is with classic (3L maintain, and 50K investment every year)

As @BUDHRAJ said branch guys are misleading you.. directly go and meet BM or just DM hdfc on Twitter and also mention branch details and see the magic next day 😉

 

[aashuuuu]

When meeting any bank staff, always have a look at Schedule of Charges(SoC) beforehand. If they mislead, show them that. I was told to do an FD of 3.75 lakhs for HDFC Savings Max (Zero MAB) account for a rural location.
It just threw the SoC at his face.

 

[BUDHRAJ]

When meeting any bank staff, always have a look at Schedule of Charges(SoC) beforehand. If they mislead, show them that. I was told to do an FD of 3.75 lakhs for HDFC Savings Max (Zero MAB) account for a rural location.
It just threw the SoC at his face.

the thing is if they want they can do nothing.. like i want to upgrade my account to preferred and i asked 4-5 times to my rm and bm and also mailed to hdfc and complained about the branch, still they didn't do a thing, all they said is to wait for auto offer for preferred..

i visited other branch and asked them for preferred, now yesterday i shifted my account to other branch, this branch people said they will manually upgrade if i can create a fd of 50k and i agreed. now they asked me to wait till end of this month.. let's see what happens. well atleast this branch people agreed for c2c regalia application

if this branch people also didn't do anything, i have 3rd branch which was opened few days ago😊, i will try at that branch

lol i have 3 hdfc branch with 1 km radius

 

[Lakshya Mahani]

Kindly someone help please, i made a FD of 1.50L in my savings max account 2 months back. Now i just wanted to know if i have to maintain any balance till the time FD exists or do i have to do anything now to avoid MAB charges?

 

[aashuuuu]

Kindly someone help please, i made a FD of 1.50L in my savings max account 2 months back. Now i just wanted to know if i have to maintain any balance till the time FD exists or do i have to do anything now to avoid MAB charges?

1 lakh FD in rural and 1.5 lakh FD in urban. This is the only condition for HDFC Savings Max MAB waiver.

 

[Deleted member 21631]

@kredit @BUDHRAJ @Akashn @aashuuuu

Good news, I got a call from my RM yesterday's evening, saying that they will soon upgrade my account to preferred status (without any sorts of "investments") and with 2L minimum maintain. He said, he can't do it right now, since my MAB isn't showing on the HDFC system, so he will do so after Diwali. He send me a screenshot of his system, where my MAB wasn't showing. It looks legit and might be the case, as I opened my account around 18th last month.

After listening to you guys, here's what I did:

1. Called HDFC customer care if there was any special status of any branch with 5L and investment criteria, the representative said no, and after talking for a while, he said ask them again and if they don't do it, move to another branch. It was a short call and I recorded for a proof. (Like @BUDHRAJ said about MAB of 2L)

2. Wrote them an email on saturday, saying I request to upgrade to preferred banking. (Didn't recieved any communication, but they send an email on saturday, to wait a week)

3. Dm'ed twitter account of HDFC bank to ask for upgrade. They said they will look for my request and asked me to wait. (again, no further communication till date)

4. Was planning to visit branch today (sunday was closed), with the motive to shift bank branch and ask them about "their" criteria to upgrade.


Also, in no above step, I decided to complain against any branch employee or branch itself (even when calling HDFC customer care). So, I think this worked without resorting to blame or complain against them. Also, I had good bank balance, so that works too i think in this case.

Thank you for giving me an idea about this situation. I think, they will upgrade me to preferred soon after Diwali (probably by 18th, as my account would be 2month old by then) and I can wait for getting a good credit card in the meantime. Thank you.

 

[BUDHRAJ]

@kredit @BUDHRAJ @Akashn @aashuuuu

Good news, I got a call from my RM yesterday's evening, saying that they will soon upgrade my account to preferred status (without any sorts of "investments") and with 2L minimum maintain. He said, he can't do it right now, since my MAB isn't showing on the HDFC system, so he will do so after Diwali. He send me a screenshot of his system, where my MAB wasn't showing. It looks legit and might be the case, as I opened my account around 18th last month.

After listening to you guys, here's what I did:

1. Called HDFC customer care if there was any special status of any branch with 5L and investment criteria, the representative said no, and after talking for a while, he said ask them again and if they don't do it, move to another branch. It was a short call and I recorded for a proof. (Like @BUDHRAJ said about MAB of 2L)

2. Wrote them an email on saturday, saying I request to upgrade to preferred banking. (Didn't recieved any communication, but they send an email on saturday, to wait till 19th Oct)

3. Dm'ed twitter account of HDFC bank to ask for upgrade. They said they will look for my request and asked me to wait. (again, no further communication till date)

4. Was planning to visit branch today (sunday was closed), with the motive to shift bank branch and ask them about "their" criteria to upgrade.


Also, in no above step, I decided to complain against any branch employee or branch itself (even when calling HDFC customer care). So, I think this worked without resorting to blame or complain against them. Also, I had good bank balance, so that works too i think in this case.

Thank you for giving me an idea about this situation. I think, they will upgrade me to preferred soon after Diwali (probably by 18th, as my account would be 2month old by then) and I can wait for getting a good credit card in the meantime. Thank you.

you didn't have to do all that, as we told you account upgrade can be done by branch only, mails and all doesn't work..

you said branch agreed to upgrade to preferred after diwali, then wait if they still ask you to wait even after that, then tell them clearly you will shift your account to different branch. if you can't say that then just visit some other branch and tell them everything, they will gladly accept you with open arms as you have good balance..

as i said previously, my previous branch people also delaying things, i just visited different branch and they easily agreed without any negotiations, also they agreed to proceed c2c application too for credit card..

so just wait till diwali if they again ask you to wait then do to 2nd branch, if 2nd branch is also no good then 3rd branch..

see it doesn't matter if branch is little far because most of the times we don't need to visit branch, like i visited my branch once or twice in last 2 years..

 

[Deleted member 21631]

@BUDHRAJ

I will change branch immediately if they kept delaying it any further.

I didn't had any hope that Twitter or Email would work when I filled the above form. I was planning to visit another branch today to get all the infos, but recieved a call yesterday, and now cancelled the plan.

But yes, I will not delay any longer after Diwali. Also, can I get Regalia Gold LTF CC with good limit on my condition? Preferred + 4L MAB, and I don't have any income as I am still a student

 

[BUDHRAJ]

@BUDHRAJ

I will change branch immediately if they kept delaying it any further.

I didn't had any hope that Twitter or Email would work when I filled the above form. I was planning to visit another branch today to get all the infos, but recieved a call yesterday, and now cancelled the plan.

But yes, I will not delay any longer after Diwali. Also, can I get Regalia Gold LTF CC with good limit on my condition? Preferred + 4L MAB, and I don't have any income as I am still a student

yes you will get pre approved offer with good limits, but can't say about regalia, maybe you will get millinea or some other card first, if you want higher varient just wait, don't take any card, you will get different card after some time..

one of my frnd got regalia offer just after 4 months of account opening..

 

[varun__goel_]

I am 21M. I started doing my masters this year and I don't have any income right now. This will be my first CC.

I have Govt bank account with Student status in it, so I don't get LTF pre-approved offers and I heard that you can get per-approved offers from private bank easily, if you maintain a good bank balance. So, this is what I am doing:

1. I opened HDFC Bank DigiSave Youth A/c with 5K MAB in non-metro city. (Why HDFC? Since I see them on every offers)
2. I have already formed a 50K FD with them and activated Overdraft against FD feature. (Bank Employee said, it would help you getting the pre-approved card faster, not sure if true)
3. I am planning to maintain 4L monthly balance in the account at least.
4. I looked up some HDFC CC and some posts from this sub-reddit, thought of Millennia (Diner Club Variant) with this setup with a good CC limit (I really don't want MoneyBack+).

Could you please help me if I am on the right track to get the card or am I missing something here.

1. Maybe, my expectations are too high to get a credit card and should go for secured ones.
2. Should I have opened my account with same account balance in a different bank like ICICI to get CC?
3. By what month, should I expect to get pre-approved offers?
4. I researched that by maintaining the above account balance, I will get transferred to Preferred account in HDFC. I don't care about the benefits, but since it requires maintaining 2L monthly account balance, are there any charges if I don't do so? I am sure that I will maintain this balance for at least 3 months more, but not sure after that. So, If I get charges, I don't want to consider it. Please give me your insights on this one.

Thank you

The main key to get cc offer in hdfc is maintain a good balance and spend as much as you can over hdfc dc(don't rotate). Classic preferred, imperia doesn't matter for cc offer. It is just good to get charges waived off. If you spend via dc, you will get offer within 6 months for a basic card. If you want a good cc and limit, then wait more until you get offer millenia/dcb/regalia.
If you are upgrading to any of the three programmes, then try to apply your pre approved cc via your rm, as he/she may help to get it as ltf.
Btw doesn't that overdraft have any charges? If yes just go and close it. It won't help that much.
4L mab will be good enough, just spend via dc. I spent around 7-8k monthly via dc and got cc offer for 25k limit within 5 months, mab was around 7-8k only, and took the first offer with 25k limit, eager to get first cc(biggest mistake🤣).

 

[Deleted member 21631]

yes you will get pre approved offer with good limits, but can't say about regalia, maybe you will get millinea or some other card first, if you want higher varient just wait, don't take any card, you will get different card after some time..

one of my frnd got regalia offer just after 4 months of account opening..

What did he do to get Regalia? What was his account balance and did he opted for any FD, RD or some other "investments" ?

 

[BUDHRAJ]

What did he do to get Regalia? What was his account balance and did he opted for any FD, RD or some other "investments" ?

normal savings account with mab 10k
no fd, rd or investments, etc

no salary, no buisness- he is a student rn

average balance was always above 1 L-3 L

in just 6-7 months. he got call from branch that he has pre approved regalia offer

 

[Deleted member 21631]

normal savings account with mab 10k
no fd, rd or investments, etc

no salary, no buisness- he is a student rn

average balance was always above 1 L-3 L

in just 6-7 months. he got call from branch that he has pre approved regalia offer

Cool!

Btw was this his first CC or was his Credit Score already generated?

Also, he got regalia LTF?

 

[BUDHRAJ]

Cool!

Btw was this his first CC or was his Credit Score already generated?

Also, he got regalia LTF?

yes it was his first CC, not sure about credit score

it was FYF regalia

 

[Deleted member 21631]

yes it was his first CC, not sure about credit score

it was FYF regalia

Shouldn't he try to get it LTF by branch or customer service? I mean, 2500 is a lot for his first CC, as he have to keep it running for 5 years, so that it wouldn't affect his credit score.