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

[BUDHRAJ]

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.

it was fyf, and he will mail them when renewal is near to waive off the charge or to make it ltf..

 

[ArpanOP]

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

Here is what you can do, start filling for ITR keeping you income just under the tax free rate. Open a cibil account and check if it's showing any data to you or not. After a year you'll definitely get a pre-approved offer from HDFC, I used to hold 1lakh balance after my graduation and did the same to have my 1st credit card. It worked

 

[Deleted member 22132]

Here is what you can do, start filling for ITR keeping you income just under the tax free rate.

I am probably sure that would land you in trouble with IT department. OP should AVOID messing with the govt.

But I think, OP can write in his profile as self employed with 6L+ for the same, since he is already maintaining a good balance. (Before doing it, OP confirm this with someone if its safe)

 

[ArpanOP]

I am probably sure that would land you in trouble with IT department. OP should AVOID messing with the govt.

But I think, OP can write in his profile as self employed with 6L+ for the same, since he is already maintaining a good balance. (Before doing it, OP confirm this with someone if its safe)

Telling your bank that you earn 6L+ and not filling ITR or filling a different amount you think it's not illegal?
If he doesn't earn anything he can show other incomes and that's not illegal.

 

[Deleted member 22132]

Telling your bank that you earn 6L+ and not filling ITR or filling a different amount you think it's not illegal?
If he doesn't earn anything he can show other incomes and that's not illegal.

I have seen few recommend citing income worth 6L+ helps instead of filing fake itr.

As first, bank don't report this income to taxation authorities.

Second, they consider it only when you try to apply for credit card which aren't approved, incase of pre-approved, they don't check it.

So, as far as i have heard about this, its safe considering you don't actually report cibil about your income.

Please confirm @D₹V @BUDHRAJ @varun__goel_

 

[jwhwhhwhwhh]

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.

Can u tell me you got one or not

 

[Username]

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

If you maintain 2L monthly then I have alternative method to getting a credit card go to Icici bank first a fall visit Icici bank branch and meet with branch manager and said that you want to open a icici wealth saving account in your branch

Icici wealth management account is a zero balance account but in starting you do a initial funding at the time of opening bank account vary branch to branch amount in between 1 - 5 lakh rupees. After your wealth account is opened you use this account as a zero balance account. And this account offer a relationship manager so you say your relationship manager to getting a credit card as life time free