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Frustration when HDFC does not approve Infinia
Doubtful they will consider itr + ULIP. It may be itr (60l) or spend + credit limit.
yobro
TF Premier
What is caps?
They only need ITR of 60L and ULIP is a + for HDFC that you are offering. This is when you are NTB.
If you already have another HDFC card, then you would have to go the upgrade route which requires 8L of spend and for an ITR of 6.5 in a year, how do you spend 8L in 6 months? 🤔
The post was corrected here: https://www.technofino.in/community/threads/hdfc-infinia-against-ulip.35147/post-870550
yobro
TF Premier
I still don't understand what is caps?
THIS IS A CAP 🎩
OP must have written post title in Capital letters. Many newbies does that here as their initial posts which is not good.
OP had typed his entire post in CAPITAL LETTERS (CAPS)
Moderator edited the post for the benefit of everyone, so you're unable to see the original post in its ORIGINAL MODE
For salaried employees even if you take ULIP you will be asked to submit the current pay slips. Your chances of getting Infinia is nearly 0. Better take SBI Cashback or Amazon Pay ICICI and be happy. At 6.5lpa you should be more concerned about accumulating the savings/upgrading your skills rather than being in FOMO to get a super premium credit card/s.
Again nothing personal about your CTC or anything. Just be cautious before making any major financial decision like ULIP.
Not just frustration, its self respect. Infinia is not end of world. And i had ITR of >>>60 when it was not even criteria.Frustration when HDFC does not approve Infinia
They give Infinia with that ITR if you have another HDFC card and you are using it.Two of my friends got the upgrade offer to Indinia,with the ITR less than 8 lakhs,one of them accepted,the other did not find much value in taking Infinia,as he doesn't spend much on credit cards.There is some big misconception that all Infinia card holders are Crorepatis and they spend lakhs of money every month,and they have ITR of more than 50 lakhs.HDFC is very inconsistent in giving all the cards,including premium ones like DCB and Infinia and everyone knows that.A lot of people know that,with the right connections you can get a premium CC from HDFC without the necessary criteria.With 6.5 lakhs income what will he do with infinia,he can buy 10k amazon pay vouchers and spend another 10,20 k on other things,like many people are doing with Infinia card now.I don't support the decision of taking any card with ULIP,be it Infinia or any other card.In conclusion what I am saying is Infinia is an excellent card,but HDFC has been very inconsistent with their card issuance and not all people who holf Infinia are Uber rich and high spenders.
Bro Truth is Infinia is product HDFC sells in exchange of shitty policies . period.
And yes they asked me spends on my hdfc cards -regalia I told them I do not use much then as per their request i sent atlas and amex spends of 10L in 6 months with 6L europe trip spends, bank statements, ITR etc Still they rejected after multiple conversations, problem is each mail is sent to different agent and every agent will not understand the conversation their colleagues had. I tried HDFC MD also but no use. They just don’t care
Infinia is their Top Tier product and they are well aware of craze towards it. So HDFC is trying to milk the situation until an alternate card from another Bank arrives which can rival Infinia. ULIP doesn't make sense for any body as its always tilted in favor of HDFC but its upto you since its your money.
HDFC is doing it wrong . They have created a criteria like net income of 5L per month.
Yes, that translates to ITR of >>>60L
This is not true. You can get the card without ULIPs if you meet the eligibility criteria.
- If you do not have spends then how do you expect they are going to earn anything from you by offering the card?
- You don't need to send spends from other cards. The criteria is already defined
- New to Bank (no HDFC card): 5L net Salary credit/ ITR of 60L
- Spend based (for existing HDFC customers): Spend 8L in 6 months on existing cards and that too is not confirmed.
If you have a good relationship with HDFC, then I suggest going the offline route through your RM/ BM which will give you single point of contact and you don't have to bother their MD.
I understand your perspective, and it's commendable that you value self-respect. However, when you're seeking a specific product, patience and perseverance are crucial. The very fact that you're requesting the card indicates you recognize the benefits it offers. If it's truly not the end of the world, why are you engaging in extensive discussions, even reaching out to their MD? It's important to remain patient, persevere, meet all the necessary requirements, and if you are eligible according to their policies, you will be granted the card.
This is not about begging but about following the process and respecting the criteria set by the issuer.
Spends on core HDFC card is needed. Showing spends on some other cards will not help. They are not checking your capability to spend, they are checking whether you have given enough business to them in last 6 months
If you spend 9L in 6 months on HDFC card, getting Infinia is very easy. No agent intervention etc. is needed
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