Infinia Easiest way to get an Infinia Metal I've ever heard

[Swastik]

Freind of mine called me today, he is an entrepreneur, has a startup with friends making and installing electric car chargers ,never had a credit card till now ,went upto HDFC bank Lucknow branch few weeks back to open an account with a check of 20 Lakhs and told them only if he gets an Infinia LTF ,first they said we'll give you DCB LTF ,try for Infinia after you open the account but he wouldn't take any of it ,told them either give Infinia or he'll take his business to Axis people (who were offering him Magnus) ,so the HDFC people agreed and he got an Infinia FYF with 55 Lakhs limit

What makes me jealous is that I'm 31 and the best I've got is a Magnus with 5 Lakhs limit ,which is like my 15th card my 8 year credit card journey ,Infinia is something of a dream for me ,can't even get DCB from them ,all I've from HDFC is a measly Millennia with 1.16 Lakhs limit

And this guy is just 27 & this is his first card. 🙄

Thoughts ?

 

[card-shard]

You only get the Infinia if you have a lot of akal (wisdom)!

No.
In most cases, not having akal is required.
A person needs to be dumb to put his/her 10L+ savings in their bank account.
Or invest in their regular mutual funds, or their ULIPS, or spend 8L+ of their hard earned money in 6months. In order to get card.

 

[Zacobite]

No.
In most cases, not having akal is required.
A person needs to be dumb to put his/her 10L+ savings in their bank account.
Or invest in their regular mutual funds, or their ULIPS, or spend 8L+ of their hard earned money in 6months. In order to get card.🎸

LOL.. absolutely... genuine spend only.. no manufacturing of spends just to get a card.. totally on point.. keeping money in bank is an individual choice..cant judge anyone on that..

 

[callsignmaverick]

Freind of mine called me today, he is an entrepreneur, has a startup with friends making and installing electric car chargers ,never had a credit card till now ,went upto HDFC bank Lucknow branch few weeks back to open an account with a check of 20 Lakhs and told them only if he gets an Infinia LTF ,first they said we'll give you DCB LTF ,try for Infinia after you open the account but he wouldn't take any of it ,told them either give Infinia or he'll take his business to Axis people (who were offering him Magnus) ,so the HDFC people agreed and he got an Infinia FYF with 55 Lakhs limit

What makes me jealous is that I'm 31 and the best I've got is a Magnus with 5 Lakhs limit ,which is like my 15th card my 8 year credit card journey ,Infinia is something of a dream for me ,can't even get DCB from them ,all I've from HDFC is a measly Millennia with 1.16 Lakhs limit

And this guy is just 27 & this is his first card. 🙄

Thoughts ?

I got an Infinia Metal within months of it getting launched with 13L limit and I got an Axis Magnus last year around Feb/March with a combined limit of 6.5L (with my Axis Vistara Infinite) and I have easily made 20-25x rewards on Magnus as compared to Infinia.

What I am trying to tell you is if you use your card wisely you don't really need Infinia. The only reason I still keep Infinia is for easy unlimited domestic and international lounge access and because of its exclusivity. The day HDFC starts rolling out Infinia to almost every customer like Axis did with Magnus I'll probably close the card.

 

[callsignmaverick]

No.
In most cases, not having akal is required.
A person needs to be dumb to put his/her 10L+ savings in their bank account.
Or invest in their regular mutual funds, or their ULIPS, or spend 8L+ of their hard earned money in 6months. In order to get card.

Putting 10L+ in savings account is not actually dumb. I see a lot of posts on this forum criticising people who keep that kind of money in savings account. But from a pure financial perspective, most people with families want to keep an emergency fund worth 2-3 months of salary. This could be to cover EMIs in case of job loss, unexpected medical emergencies etc.

While a Debt fund or any MF can give you better returns (T+2 liquidity), it can't give you the immediate liquidity of money in the bank. And this is done by a lot of people who don't even own or want credit cards. 10L in savings is for financial security and if using that you can get a premium card as a bonus then why not?

 

[techt]

Well how about a student with no income getting his hands on infinia

How to get super premium cards ltf as a student 1O1

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Check it out

Bugs is an affluent guy. Moreover he is closing the card.

 

[techt]

If annual spends are around 8-10 L - normal.. then its fine.

My spends Cross that but none are in the rewarding category of HDFC.

 

[amitr29]

I got an Infinia Metal within months of it getting launched with 13L limit and I got an Axis Magnus last year around Feb/March with a combined limit of 6.5L (with my Axis Vistara Infinite) and I have easily made 20-25x rewards on Magnus as compared to Infinia.

What I am trying to tell you is if you use your card wisely you don't really need Infinia. The only reason I still keep Infinia is for easy unlimited domestic and international lounge access and because of its exclusivity. The day HDFC starts rolling out Infinia to almost every customer like Axis did with Magnus I'll probably close the card.

Agree, I earned 4.74 lacs points with magnus in 7 months and 18000 with Atlas. All redemption done at 5:4, thanks to Magnus Burgundy. It is the best card indeed

 

[Swastik]

Bugs is an affluent guy. Moreover he is closing the card.

Perhaps, but just goes to show that banks are inconsistent and erratic

I'm closing my Magnus as well ,but i did get to enjoy it while i had it

 

[techt]

Perhaps, but just goes to show that banks are inconsistent and erratic

I'm closing my Magnus as well ,but i did get to enjoy it while i had it

Bugs is now a teacher /tutor for IPS students. Bank might have seen some potential in him.

 

[Swastik]

Bugs is now a teacher /tutor for IPS students. Bank might have seen some potential in him.

I see ,good for him

 

[card-shard]

Putting 10L+ in savings account is not actually dumb. I see a lot of posts on this forum criticising people who keep that kind of money in savings account. But from a pure financial perspective, most people with families want to keep an emergency fund worth 2-3 months of salary. This could be to cover EMIs in case of job loss, unexpected medical emergencies etc.

While a Debt fund or any MF can give you better returns (T+2 liquidity), it can't give you the immediate liquidity of money in the bank. And this is done by a lot of people who don't even own or want credit cards. 10L in savings is for financial security and if using that you can get a premium card as a bonus then why not?

Most people need max 3L as emergency funds (equivalent to 3 months of expenses for an affluent family, covers more months for middle class families)

Additional money can be put in LIQUID mutual fund, same ease as savings account in terms of redemption, but gives higher returns.
People shouldn't be making life choices based on a EXTREMELY EXTREMELY RARE CASE, where you need money 10-30L in 2 days.

 

[callsignmaverick]

Most people need max 3L as emergency funds (equivalent to 3 months of expenses for an affluent family, covers more months for middle class families)

Additional money can be put in LIQUID mutual fund, same ease as savings account in terms of redemption, but gives higher returns.
People shouldn't be making life choices based on a EXTREMELY EXTREMELY RARE CASE, where you need money 10-30L in 2 days.

I would tend to disagree here. EXTREMELY RARE cases are exactly what the emergency fund is for. In case if things are well, one would ever need to touch that emergency fund at all. Personally I feel 3L for a 3 month emergency fund in a city like Mumbai is just too little.

Call me old school if you may, but I would take the comfort of having 5-6L extra immediately available rather than having them in MFs where I would redeem it and get the money in T+2 days and probably another day to get it from Zerodha to my account. I might be losing on the interest but I gain a lot on peace of mind and also the banking relationships.

But I feel at the everyone has a different use case and lifestyle, so if 3L suits someone then definitely good for them.

 

[Swastik]

You know what really grinds my gears ,

HDFC was offering me 5 lakh personal loan for most of last year ,few months back ICICI increased my credit limit from 5.1 L to 6.1 L ,and now since last month HDFC has started offering me personal loan of 6 lakhs

And all the while they won't increase my credit from 1.16 lakhs or give me an upgrade

So they know my credit worthiness, they just don't want to give me anything worthy

Also ,how does HDFC know about my ICICI limts ,do banks get my credit report every month as well ?!

 

[card-shard]

You know what really grinds my gears ,

HDFC was offering me 5 lakh personal loan for most of last year ,few months back ICICI increased my credit limit from 5.1 L to 6.1 L ,and now since last month HDFC has started offering me personal loan of 6 lakhs

And all the while they won't increase my credit from 1.16 lakhs or give me an upgrade

So they know my credit worthiness, they just don't want to give me anything worthy

Also ,how does HDFC know about my ICICI limts ,do banks get my credit report every month as well ?!

Unless HDFC does a hard enquiry (this you should know), or you fetch CIBIL report via their portal (discontinued for 1+ yrs now), they won't know.
Most likely, you're overthinking about a co-incident.
I too keep getting loan offer from the CC banks, they keep changing loan amount, I keep ignoring those notifications/messages. 🤣

 

[sidp]

Also ,how does HDFC know about my ICICI limts ,do banks get my credit report every month as well ?!

In t&c they mention periodic soft enquiry. It won't show up in credit report. It is also used to give auto LE.

 

[Swastik]

Unless HDFC does a hard enquiry (this you should know), or you fetch CIBIL report via their portal (discontinued for 1+ yrs now), they won't know.
Most likely, you're overthinking about a co-incident.
I too keep getting loan offer from the CC banks, they keep changing loan amount, I keep ignoring those notifications/messages. 🤣

I've never used their portal for Credit score ,i only use onescore ,and it dosent show any loan enquires
and the amount is way too specific to my highest card limit from other bank ,Also the timing is on point as well

Something is up

 

[Swastik]

In t&c they mention periodic soft enquiry. It won't show up in credit report. It is also used to give auto LE.

I see ,that would explain my doubt

 

[hema220]

Ulips have a long lock in or will have high charges and penalties on withdrawal

20% charges and they sell term insurance (default) etc. these makes 25%. which means, for 1 L ulip, you have to pay 1.26 L and they invest only 80k in fund.

 

[card-shard]

In t&c they mention periodic soft enquiry. It won't show up in credit report. It is also used to give auto LE.

From what I know, it's incorrect. Only when you use bank's portal to get "free" credit report, they store it for upto 6 months on their end as well.

Plz share a screenshot of that sentence from T&C, which says such a thing, and t&c link.