HDFC Loyalty Issue

[grvshkn]

Having Bank Account since 2010 and Credit card since 2013 HDFC Bank given me LE just once.
Stared my Journey in with Rs1,00,000 limit without any income document and now after 13 years its only Rs1,51,000. Started with VISA Signature now at Biz Grow. feels like downgrade then upgrade.
Tried to contact support and Grievance Redressal Cell their reply was " they regret due to Bank's internal credit policy i am not eligible forr LE" without asking for any supporting Documents.
Is there something wrong with HDFC ??

Just want to know if i can get better limit and card if i close this and re apply ?
How long should i wait for reapply?
and is it wise to close your oldest Credit Card ????

 

[TheCoinCollector]

Welcome to the Credit score trap!
What is the tenor of your second oldest card?
I think if it is near HDFC, you are better off to get away from them and then rethink, after all this devaluation by HDFC(and others) has done,if you really want to apply.
I closed my mom's CC and after that they have been spamming me with 5000 vouchers for new CC application.
If some Bank does not value even for LE after 13 years,.not sure why would even have such a question! Step away.

 

[grvshkn]

Welcome to the Credit score trap!
What is the tenor of your second oldest card?
I think if it is near HDFC, you are better off to get away from them and then rethink, after all this devaluation by HDFC(and others) has done,if you really want to apply.
I closed my mom's CC and after that they have been spamming me with 5000 vouchers for new CC application.
If some Bank does not value even for LE after 13 years,.not sure why would even have such a question! Step away.

My 2nd oldest card is SBI with 8 years i.ee, 3 years after my HDFC card !
I hav been itching to close this HDFC card for a while. My only concern here is will it impact my credit score being my oldest card with no defaults & only hickups was during pandemic era where my cc bill payment was late by 7 days.

 

[Riya Sharma]

My 2nd oldest card is SBI with 8 years i.ee, 3 years after my HDFC card !
I hav been itching to close this HDFC card for a while. My only concern here is will it impact my credit score being my oldest card with no defaults & only hickups was during pandemic era where my cc bill payment was late by 7 days.

You should look into Axis. Do you have any relationship with them?

 

[grvshkn]

You should look into Axis. Do you have any relationship with them?

You should look into Axis. Do you have any relationship with them?

nope! no relation there. i have another saving account in PNB but HDFC is my primary account.

 

[Riya Sharma]

nope! no relation there. i have another saving account in PNB but HDFC is my primary account.

if you don't have trust issues maybe you could move your funds into Axis and open up a Priority/Burgundy account. Once you get pre-approved for any card from Axis you can upgrade to most of their other cards within a month by a simple call. From my experience they also give pretty good limits.

 

[TheCoinCollector]

My 2nd oldest card is SBI with 8 years i.ee, 3 years after my HDFC card !
I hav been itching to close this HDFC card for a while. My only concern here is will it impact my credit score being my oldest card with no defaults & only hickups was during pandemic era where my cc bill payment was late by 7 days.

Unless you want any credit where the rate is sensitive to your cibil/credit score, I think you can go ahead and close it.
Clearly HDFC doesn't value you enough, you may be better off reapplying when needed.
With 11 years of credit history, I presuming you are not retiring soon 😀. You can make up for that loss of few score points soon.

 

[GopalV]

Having Bank Account since 2010 and Credit card since 2013 HDFC Bank given me LE just once.
Stared my Journey in with Rs1,00,000 limit without any income document and now after 13 years its only Rs1,51,000. Started with VISA Signature now at Biz Grow. feels like downgrade then upgrade.
Tried to contact support and Grievance Redressal Cell their reply was " they regret due to Bank's internal credit policy i am not eligible forr LE" without asking for any supporting Documents.
Is there something wrong with HDFC ??

Just want to know if i can get better limit and card if i close this and re apply ?
How long should i wait for reapply?
and is it wise to close your oldest Credit Card ???

I have similar experience with HDFC,I am a customer of HDFC since the last 10 years.Despite good spending did not receive any significant limit increase or CC upgrade from them.I have good experience with Axis,although I don't have any premium banking relation with them,just a normal savings account.I am also thinking of closing my DCP card,and I am not bothered about CIBIL score ( my score is 804).Will take the decision in the next 10 days.