Credit Limit Increase Rejected - Bizarre Reasons

[curios_mind_huh]

I opened a salary account with HDFC 6 months ago in April, purely because I wanted to get a LTF card from them. I earn 1.4L in hand and went ahead with the card application. The mistake I did was I didn't go ahead for the application in branch since they asked me to wait for 3 months before application. Somebody from HDFC called and I completed the application with their help. No income documents were asked and I got a Millennia Diners card LTF issued in April 2023.

The problem was it had a very low credit limit of 59k. I wanted this card primarily for sale offers and didn't spend much apart from 1-2k every month. I raised a credit enhancement request both via escalation email and form in branch along with payslips in July 2023. They replied with a huge email with jargon words that me being a "valued customer" and all. Basically, rejected the request because of bank policy.

So, I waited another 3 months and applied for the limit increase two weeks back with the branch again. It's been rejected again without any solid reason and when I dived deep with a credit card agent in HDFC, they offered me two solutions:

1. Use my card upto 70% limit every month for next 6 months and I MIGHT get a limit enhancement offer. This was not a ironclad promise as well.
2. Close the current card. Wait for 3 months. Then apply again in branch for a new credit card along with payslips. They promise that going this way I'll get a increased credit limit. But I'm not sure if I'll get the Millennia card LTF if I take this route. I don't want to settle for Regalia or Diners Privilege card.

Why the heck can't HDFC offer the limit enhancement now based on payslips, if they promise they'll do the same for a new card? And Is there any better way to go about asking for a limit increase?

I was thinking of attaching my payslips to pno one final time with an empty threat that I'll close the card if they don't budge. Any better ideas?

 

[SSV]

Just can't understand HDFC.

This is the popular opinion amongst most of us here…

 

[Rohith-2009]

This is the popular opinion amongst most of us here…

Maybe I feel like they don't want to help rich people.

This is not good for HDFC but still they're doing it. They might have a plan

 

[SSV]

They might have a plan

That is the unfortunate thing that "they don't have a plan" in my view.
Good wish by you though..

I think it is mainly because of the lethargic behavior of our good old no1 bank..in my view

 

[nithin1992]

Some / most of the times when you have been granted a very low limit from HDFC it's probably because the application has been marked as risky. It could be because of the documents / some incorrect information with the application submitted by the agent.

Best way to move forward is to approach a bank branch, speak to the the person handling the credit card divisions there and follow what they say. They usually have enough power to get these sorted out by either getting a LE for you or closing and reapplying for the card.

 

[SSV]

Some / most of the times when you have been granted a very low limit from HDFC it's probably because the application has been marked as risky. It could be because of the documents / some incorrect information with the application submitted by the agent.

Best way to move forward is to approach a bank branch, speak to the the person handling the credit card divisions there and follow what they say. They usually have enough power to get these sorted out by either getting a LE for you or closing and reapplying for the card.

Nice insights and good advice..thanks for sharing the idea

 

[Lobogris]

I did approach the branch and the manager connected me to their senior credit card person who handles several branches. I applied for LE and upgrade as per his advice but it was still rejected. I can't understand the risk. Perfect payment history with them and everyone else. Good ITR. Keeping a good amount in their own bank. Attached other card statements with limits of 21 lakhs and 8 lakhs along with ITR. All this was sent to their Madras office. Still rejected. At the very least, they could have raised the limit to say 1 lakh and issued at least a Milennia. They are spamming with pre approved debit card EMI of 2.9 lakhs and personal loan on same cards of 1.95 lakhs.

 

[Rohith-2009]

That is the unfortunate thing that "they don't have a plan" in my view.
Good wish by you though..

I think it is mainly because of the lethargic behavior of our good old no1 bank..in my view

If they didn't have clear strategy, how they did come to No. 1. They might have clear plan but sbi will take the crown soon. Maybe I think they don't care about it

 

[Deleted member 11974]

If they didn't have clear strategy, how they did come to No. 1. They might have clear plan but sbi will take the crown soon. Maybe I think they don't care about it

neither will sbi nor will hdfc
it will be probably icici
because they are the least worst indian bank out of all in terms of service

 

[plastikman]

This is the popular opinion amongst most of us here…

Most of the times HDFC behaves like a headless chicken

 

[SSV]

If they didn't have clear strategy, how they did come to No. 1

This is what exactly I am saying…
There are two things here:
1) Reaching to NO 1 and
2) The behaviour demonstrated after becoming the dominant player…
These two are different things..
Got it??

 

[Rohith-2009]

neither will sbi nor will hdfc
it will be probably icici
because they are the least worst indian bank out of all in terms of service

Icici is worst in few cases. Waiting time and thee attitude they have I hate

 

[SSV]

Maybe I think they don't care about it

is not caring about it, also part of their strategy??

 

[Rohith-2009]

This is what exactly I am saying…
There are two things here:
1) Reaching to NO 1 and
2) The behaviour demonstrated after becoming the dominant player…
These two are different things..
Got it??

Maybe they're tired of being No. 1

 

[SSV]

Icici is worst in few cases. Waiting time and thee attitude they have I hate

How come ICICI became no 2 with these bad qualities that you hate??

 

[SSV]

Maybe they're tired of being No. 1

Also part of their strategy??

 

[Rohith-2009]

How come ICICI became no 2 with these bad qualities that you hate??

Not only those bad qualities

 

[Deleted member 11974]

Icici is worst in few cases. Waiting time and thee attitude they have I hate

as i said all indian banks are like gande naali ke keede
now which bank is able to be the best out of waste will end up being no 1

 

[Rohith-2009]

Also part of their strategy?

I don't know. Maybe I'll have to send mail to them. But I'm happy hdfc customer

 

[SSV]

Not only those bad qualities

Okay, not only those .. there are so many.. how come they became no 2

 

[SSV]

I don't know. Maybe I'll have to send mail to them. But I'm happy hdfc customer

So here the point is , these experiences are based on individual incidents / relationships … not a general opinion.. got it

We all have different experiences with different banks at different times.. sometimes they might be contradicting to each other when we compare them amongst us..
We can not form an opinion on any bank based on a few relationships. It should be collective..