HDFC Credit Cards HDFC BizBlack Metal denied by Branch RM

[hedgehog2122]

you got bizblack with regalia gold ?

Yup, got card delivered today.

 

[desiviru]

Hi guys,

My Dad has an ITR of 21L and GST returns of 37L for the last FY. I checked online in the HDFC BizBlack Metal website that minimum 30L ITR is required but it also says that Customers can apply on basis of GST returns, Bank Statements and Merchant payment report, though they haven't mentioned any value for these.

We called our RM and explained everything. He took all the docs and sent them to a higher branch in our region to check if we could apply for BizBlack. But today got to know that since my dad didn't meet the ITR criteria, they couldn't apply.

My Dad only has a HDFC Savings Account and he's not having any credit card from HDFC or any other bank. When we tried online, he was being offered BizGrow but we only want BizBlack since we pay monthly GST of approx 55K. He also pays Advance tax. BizBlack will be best suited in this case to maximise returns.

Wanted to know what should we do here? Is there anyone who didn't meet the ITR criteria but got BizBlack on basis of other factors like GST returns etc?

Shortcut is to keep good balance like 10L in savings around 25L in FDs and then approach bank. Recently I get someone VISA BizPower with just 7L in savings. Thing was he was already having moneyback card and his profile was self employed in bank records. I hope your father account already has Business Profile. After that reach RM which will be reallotted after you keep balance.

Most of time having big bucks help you get CC you want easily.

 

[HumorSimpson]

Yup, got card delivered today.

Congrats !!!
If you don't mind which city ?

 

[pradeepG]

Shortcut is to keep good balance like 10L in savings around 25L in FDs and then approach bank. Recently I get someone VISA BizPower with just 7L in savings. Thing was he was already having moneyback card and his profile was self employed in bank records. I hope your father account already has Business Profile. After that reach RM which will be reallotted after you keep balance.

Most of time having big bucks help you get CC you want easily.

true, BizPower with just 7L SA or FD RM asked

 

[Zeel]

Got Biz Black via branch RM as a floater to Infinia, didn't submit any income documents. Had got Infinia also without any income documents. Have a basic savings account with HDFC.

Hoe do you get infinia brother?? Pre approved or something and was it lifetime free? Please tell details

 

[okotoki]

Yup, got card delivered today.

1. Are you self-employed in bank records?
2. What's the credit limit of your Regalia Gold?

Is the process similar to applying floater of Infinia?

 

[hedgehog2122]

Congrats !!!
If you don't mind which city ?

At Noida NCR

 

[hedgehog2122]

1. Are you self-employed in bank records?
2. What's the credit limit of your Regalia Gold?

Is the process similar to applying floater of Infinia?

1. No, but I did purposely mention my GST number on floater form.
2. 8 Lakhs
Process is similar like floater to infinia.
I have preferred account and deposits in excess of 30 Lakhs almost. Not sure what helped.

 

[HumorSimpson]

1. No, but I did purposely mention my GST number on floater form.
2. 8 Lakhs
Process is similar like floater to infinia.
I have preferred account and deposits in excess of 30 Lakhs almost. Not sure what helped.

1. Does floater form asks it? I am a salaried person.
2. The 30L would have played a role.

I do not have any of the above mentioned points.

 

[hedgehog2122]

1. Does floater form asks it? I am a salaried person.
2. The 30L would have played a role.

I do not have any of the above mentioned points.

Floater form alone doesn't ask it, but I did filled another general cc form along with floater which had a column to fill GST Number.

I am also kindly of salaried, but have an understanding with the employer to draw professional fee instead of salary which helps to save lakhs of taxes. Hence I file GST returns and ITR 4

 

[HumorSimpson]

have an understanding with the employer to draw professional fee instead of salary which helps to save lakhs of taxes. Hence I file GST returns and ITR 4

Could you please explain this in detail?

 

[desiviru]

true, BizPower with just 7L SA or FD RM asked

Just 7L SA. RM asked nothing special beside to keep balance till approval. It was done after due dillgence and past usage patterns. He had 4.6L limit on MoneyBack+. Took 3 weeks to receive card in hand.

 

[hedgehog2122]

Could you please explain this in detail?

Secrets are not meant to be revealed 😉

 

[pradeepG]

Just 7L SA. RM asked nothing special beside to keep balance till approval. It was done after due dillgence and past usage patterns. He had 4.6L limit on MoneyBack+. Took 3 weeks to receive card in hand.

true, BizPower with just 7L SA or FD RM asked

yes same thing my RM said Biz power needs 7L SA/FD

 

[HumorSimpson]

yes same thing my RM said Biz power needs 7L SA/FD

As a card against FD or can break it at any time once we get ? Even for salaried too ?

 

[pradeepG]

As a card against FD or can break it at any time once we get ? Even for salaried too ?

not card against fd. But customer is maintaining this much amount with bank. as far as i remember he said to spend 7/7.5L in last 6 months(or 1 year, i dnt remember) can also make you eligible for the BizPower floater.

 

[sid16]

Hoe do you get infinia brother?? Pre approved or something and was it lifetime free? Please tell details

You can see my Infinia journey here: https://www.technofino.in/community...infinia-if-i-hold-a-ltf-dcb.13813/post-274296

 

[tachniki]

but have an understanding with the employer to draw professional fee instead of salary which helps to save lakhs of taxes. Hence I file GST returns and ITR 4

I always thought why companies don't do this. GST paid for professional fee could be used by company as input tax credit. If income is not really high, you have advantage of presumptive taxation. So, that will reduce your pain for too much accounting of all expenses. For individuals with high income (I think above 50L who can't use presumptive taxation), they could claim lots of expenses as business expense.

Possibly it may work for small companies but not big ones.

 

[hedgehog2122]

I always thought why companies don't do this. GST paid for professional fee could be used by company as input tax credit. If income is not really high, you have advantage of presumptive taxation. So, that will reduce your pain for too much accounting of all expenses. For individuals with high income (I think above 50L who can't use presumptive taxation), they could claim lots of expenses as business expense.

Possibly it may work for small companies but not big ones.

Absolutely correct and on spot