HDFC Credit Cards - FD Based.

[bvc19296]

Dear Community,

I had some issues in the past with HDFC Credit cards in 2015. They issued me credit card in 2013 and it got renewed in 2016, But I didn't collect the credit card as I moved out of Chennai to Bangalore. But they are saying that some payments are pending and kept it as delinquent account due to missed payments within due time which didn't happen actually with my knowledge. With that reason they are rejecting my Credit Card applications (2 rejected till now with same reason). I do hold preferred account with them with good account balance and transactions, but they are not offering credit card.

Now they are offering FD based credit card (3.5L - Regalia, 13L - Infinia). After 6-9 months of good usage they are telling they will provide Floater Credit card which will be different from the existing credit card, then you can close your FD credit card (For Ex, If we take Infinia now with 13 L FD, they wont give Infinia they may give Regalia, But if we take Regalia now they may give Diners Privilege or Diners Black depends on the usage and getting Infinia in that way will be around 3 years from now).

My Credit Card Portfolio:

ICICI Emeralde, Axis Magnus, Axis Vistara Infinite, Axis Privilege, SBI Prime, Citi Premier Miles, ICICI Coral, ICICI Amazon Pay, One Card, RBL Play Card


Can someone suggest me how to proceed from here. @TechnoFino Sumanta Hope you will be helpful on this issue.

 

[Wealth is my birth right!]

Dear Community,

I had some issues in the past with HDFC Credit cards in 2015. They issued me credit card in 2013 and it got renewed in 2016, But I didn't collect the credit card as I moved out of Chennai to Bangalore. But they are saying that some payments are pending and kept it as delinquent account due to missed payments within due time which didn't happen actually with my knowledge. With that reason they are rejecting my Credit Card applications (2 rejected till now with same reason). I do hold preferred account with them with good account balance and transactions, but they are not offering credit card.

Now they are offering FD based credit card (3.5L - Regalia, 13L - Infinia). After 6-9 months of good usage they are telling they will provide Floater Credit card which will be different from the existing credit card, then you can close your FD credit card (For Ex, If we take Infinia now with 13 L FD, they wont give Infinia they may give Regalia, But if we take Regalia now they may give Diners Privilege or Diners Black depends on the usage and getting Infinia in that way will be around 3 years from now).

My Credit Card Portfolio:

ICICI Emeralde, Axis Magnus, Axis Vistara Infinite, Axis Privilege, SBI Prime, Citi Premier Miles, ICICI Coral, ICICI Amazon Pay, One Card, RBL Play Card


Can someone suggest me how to proceed from here. @TechnoFino Sumanta Hope you will be helpful on this issue.

Just keen to know whether that 13lac fd infinia will be ltf?

 

[bvc19296]

Just keen to know whether that 13lac fd infinia will be ltf?

No it wont be LTF.

 

[bvc19296]

@Venky Any insights on this!!

 

[Chaitanya-a]

You already have good cards specially from Axis. Why would you even need HDFC card that too with FD?! Their cards are useless nowadays.

 

[Venky]

Just keen to know whether that 13lac fd infinia will be ltf?

No it wont be ltf. They’ll have to surrender the card when they dissolve the FD. Diners Privilege is at par with the Regalia. Infinia will cost you around 15k. Unless you need an FD, it is not worth with your kinda portfolio. You should raise your pending payment issue with the Nodal officer and above. If you’re sure there’s no balance from your end. Maybe if they could reach a settlement and let you pay some small amount and then issue a fresh card.

Regalia is not worth the 3.5 lakh FD that I am sure about. Even if your spends are >1-1.5 lakhs, your current portfolio will be rewarding enough to not get the Infinia.

 

[lucifer]

Dear Community,

I had some issues in the past with HDFC Credit cards in 2015. They issued me credit card in 2013 and it got renewed in 2016, But I didn't collect the credit card as I moved out of Chennai to Bangalore. But they are saying that some payments are pending and kept it as delinquent account due to missed payments within due time which didn't happen actually with my knowledge. With that reason they are rejecting my Credit Card applications (2 rejected till now with same reason). I do hold preferred account with them with good account balance and transactions, but they are not offering credit card.

Now they are offering FD based credit card (3.5L - Regalia, 13L - Infinia). After 6-9 months of good usage they are telling they will provide Floater Credit card which will be different from the existing credit card, then you can close your FD credit card (For Ex, If we take Infinia now with 13 L FD, they wont give Infinia they may give Regalia, But if we take Regalia now they may give Diners Privilege or Diners Black depends on the usage and getting Infinia in that way will be around 3 years from now).

My Credit Card Portfolio:

ICICI Emeralde, Axis Magnus, Axis Vistara Infinite, Axis Privilege, SBI Prime, Citi Premier Miles, ICICI Coral, ICICI Amazon Pay, One Card, RBL Play Card


Can someone suggest me how to proceed from here. @TechnoFino Sumanta Hope you will be helpful on this issue.

just curious to know if you pay for Emeralde card?

 

[bvc19296]

No it wont be ltf. They’ll have to surrender the card when they dissolve the FD. Diners Privilege is at par with the Regalia. Infinia will cost you around 15k. Unless you need an FD, it is not worth with your kinda portfolio. You should raise your pending payment issue with the Nodal officer and above. If you’re sure there’s no balance from your end. Maybe if they could reach a settlement and let you pay some small amount and then issue a fresh card.

Regalia is not worth the 3.5 lakh FD that I am sure about. Even if your spends are >1-1.5 lakhs, your current portfolio will be rewarding enough to not get the Infinia.

How to raise issue to the Nodal officer and higher level? Actually I am fed up moving with Bank people on this issue. They are constantly saying to get FD credit card.

And one more thing Current Outstanding displayed there is Rs. 0. They are telling I delayed my payments but it didn't reflect in my CIBIL anyways.

 

[bvc19296]

just curious to know if you pay for Emeralde card?

Yes its a paid card. Got upgraded from Expressions card with High limit.

 

[Venky]

How to raise issue to the Nodal officer and higher level? Actually I am fed up moving with Bank people on this issue. They are constantly saying to get FD credit card.

And one more thing Current Outstanding displayed there is Rs. 0. They are telling I delayed my payments but it didn't reflect in my CIBIL anyways.

You can try contacting them at

https://www.hdfcbank.com/personal/need-help/contact-us/email-us

Grievance.Redressal@hdfcbank.com

I am not sure about the nodal officers email. It is usually pno@bankname.com. But it would be better to resolve this issue, get Regalia/DP, and then move forward than to make an FD for a card you don’t actually need (IMO).

But if you need an FD or have an existing FD in some other bank, then you can try HDFC as their interest rates have gone up for FD’s.
But I’ll still say you don’t need that card with your existing cards.

 

[bvc19296]

You can try contacting them at

https://www.hdfcbank.com/personal/need-help/contact-us/email-us

Grievance.Redressal@hdfcbank.com

I am not sure about the nodal officers email. It is usually pno@bankname.com. But it would be better to resolve this issue, get Regalia/DP, and then move forward than to make an FD for s card you don’t actually need (IMO).

But if you need an FD or have an existing FD in some other bank, then you can try HDFC as their interest rates have gone up for FD’s.
But I’ll still say you don’t need that card with your existing cards.

I really understand that I don't really need Infinia card, But I need to resolve the issue with them because any day problem will be problem. And I don't have any HDFC card in my portfolio.

 

[bvc19296]

Is there any chance that if we apply HDFC card c2c this issue might get resolved?? or will the same issue be considered. @Venky

 

[sv004]

Just get millennia and enjoy the cashbacks. I hope hdfc releases some new cashback card with higher rewards. Infinia, regalia dcb and dcp are good only if u are frequent flyer or have more hotel stays.

 

[Chaitanya-a]

Just get millennia and enjoy the cashbacks. I hope hdfc releases some new cashback card with higher rewards. Infinia, regalia dcb and dcp are good only if u are frequent flyer or have more hotel stays.

Fax. Cashback cards are the real king

 

[bvc19296]

Just get millennia and enjoy the cashbacks. I hope hdfc releases some new cashback card with higher rewards. Infinia, regalia dcb and dcp are good only if u are frequent flyer or have more hotel stays.

@sv004 Here the issue is something different. I have some issue with HDFC bank in the past, you can see my post over and above.

 

[Venky]

Is there any chance that if we apply HDFC card c2c this issue might get resolved?? or will the same issue be considered. @Venky

I think you should resolve the issue first and then apply. Because they’ll anyway run your PAN and will see your previous relation with the bank and the recent rejections.

 

[bvc19296]

Issue is not yet solved. Tried writing to grievance cell and nodal officer but no use. @Venky

@RewardsAlert any insights on this issue. I need HDFC credit card in portfolio.

 

[RewardsAlert]

Issue is not yet solved. Tried writing to grievance cell and nodal officer but no use. @Venky

@RewardsAlert any insights on this issue. I need HDFC credit card in portfolio.

Going through the whole discussion and based upon my understanding,
I can assume that it is a defaulter issue that is concerning the bank.

The overall procedure is that Underwriter in HDFC is not able to approve your applications due to a past default.
So, clearly they need a FD card based history from you to trust that you will not default again.

To boil it down further, you can take a Regalia - 3.5L FD and use it for 8-9 month as you have quoted, then ask for a DCP/DCB based upon your usage and relationship.
Instead of approaching Nodal Route, I suppose your RM/BM can play a greater role in solving this issue for you.
If you don't want to get the card with FD, then it might require a series of Approval maybe from BM, Zonal Head and others, which can easily cost a lot of time and efforts.

 

[bvc19296]

Going through the whole discussion and based upon my understanding,
I can assume that it is a defaulter issue that is concerning the bank.

The overall procedure is that Underwriter in HDFC is not able to approve your applications due to a past default.
So, clearly they need a FD card based history from you to trust that you will not default again.

To boil it down further, you can take a Regalia - 3.5L FD and use it for 8-9 month as you have quoted, then ask for a DCP/DCB based upon your usage and relationship.
Instead of approaching Nodal Route, I suppose your RM/BM can play a greater role in solving this issue for you.
If you don't want to get the card with FD, then it might require a series of Approval maybe from BM, Zonal Head and others, which can easily cost a lot of time and efforts.

I have checked all the statements and documents from the bank, even the BM/RM has checked it and found no delinquency or default in payments. I have checked and submitted my CIBIL report also. Even in CIBIL HDFC haven't reported anything. We have forwarded all the documents too. A small error somewhere by system is causing lot of efforts and time as you mentioned.

RM/BM were not able to do because they have tried all routes like Credit cards Head, Cluster Heads. I am literally maintaining good balance and transactions with HDFC as a preferred customer.

 

[bvc19296]

Going through the whole discussion and based upon my understanding,
I can assume that it is a defaulter issue that is concerning the bank.

The overall procedure is that Underwriter in HDFC is not able to approve your applications due to a past default.
So, clearly they need a FD card based history from you to trust that you will not default again.

To boil it down further, you can take a Regalia - 3.5L FD and use it for 8-9 month as you have quoted, then ask for a DCP/DCB based upon your usage and relationship.
Instead of approaching Nodal Route, I suppose your RM/BM can play a greater role in solving this issue for you.
If you don't want to get the card with FD, then it might require a series of Approval maybe from BM, Zonal Head and others, which can easily cost a lot of time and efforts.

So what it the probability of getting credit card after surrendering FD based card after usage of 9-12 months?? Do I need to continue on FD based in future also or can we upgrade the FD based card to un secured card after 9-12 months of time frame??