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HDFC Pre-Approved Credit Card Offers

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crazyuploader

TF Premier
Hi,

I opened Savings Max online account in HDFC Bank in January this year, with the thought of holding a Credit Card from HDFC Bank for offers, etc. After ~3 months of usage, and maintaining 26-28k balance, Pre-Approved offers started popping up in NetBanking as well as through emails. Firstly it was 2 wheelers loan, then 4 wheelers, so on. Finally started getting HDFC MoneyBack+ Credit Card offer as well, it had yearly charges, later I started getting conditional LTF. Now, I keep emails from them daily regarding a LTF Credit Card which is MoneyBack+, thought I'd get Millenia, if it was given as LTF, BTW I do have SBI Cashback Credit Card. Anyways, attaching some screenshots below. My question is that —

  1. Should I avail the MoneyBack+ Card only? They say limit up-to 40,000 INR most of the time.
  2. Or should I wait in hope for Millenia as LTF? If they provide it as Pre-Approved that is.
  3. I also have SBI SimplySAVE Credit Card with 1L limit, which was recently increased so don't have more than one statement reflecting the same, should I try C2C for HDFC Millenia Credit Card as LTF?
  4. And finally, since my account is Savings Max, I am supposed to maintain 25,000 INR MAB, but for some reason the same isn't reflected in the NetBanking, and so can I use the fund at times?
Thanks in advance.

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crazyuploader said:
Yes, I have opened the account online, which I also mentioned in the first line, I had to open the account online because offline they were asking me for a cheque of 5k which I didn't have, was going for the Regular Savings account but got recommended later to go for the Savings Max variant instead despite my initial hesitancy
As for the number of transactions per month, it was less in previous months as I was using Fi extensively, but this month it's a little higher
Click to expand...
Thanks for sharing, my suggestion regarding maintaining MAB is, just forget about the 25k you got in there until you get your desired credit as pre-approved. and maybe can close the account later if you don't wanna maintain 25k. You could get the online ICICI digi savings online with initial funding of 95k and thereafter it will be zero MAB. You can withdraw the 95k once the account details settle in.
 
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crazyuploader said:
Now, I am thinking what if it's a no-cost EMI, would I get additional 1% Cashback over it?
Click to expand...
Yes, you will get 1% cashback on no cost EMI as well.
But they give 1% on the Principal Amount posted as EMI per month. (Forget this, in simple terms, you will get 1% on the Principal Amount)

You also asked for spend crieria. For Millenia, you will have to spend 50k within 90 days. (Trick: You can do wallet reloads, as you get 1% cashback on that)
 
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Piyush_Jaiswal said:
Wait for maximum 3 months, you will get upgraded offer. They normally give in 2 months if we don't accept the 1st offer. I have seen in most cases they give Millenia in 2nd offer. Millenia LTF is not guaranteed but offer will be upgraded for sure. Better card variant and increased limit.
Click to expand...
As you had said, I am now seeing an upgraded offer with a better credit limit, but yet to see Millennia, still seeing MoneyBack+ Credit Card
1688008195007.jpeg
 
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cryoengine said:
Thanks for sharing, my suggestion regarding maintaining MAB is, just forget about the 25k you got in there until you get your desired credit as pre-approved. and maybe can close the account later if you don't wanna maintain 25k. You could get the online ICICI digi savings online with initial funding of 95k and thereafter it will be zero MAB. You can withdraw the 95k once the account details settle in.
Click to expand...
I am fine with retaining my HDFC SavingsMax Account, and won't close it. As for ICICI, the initial funding is too much, might as well get a regular MAB account from offline branch, but not sure. I don't have 1L right now, but will see if I get any opportunity!
 
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Piyush_Jaiswal said:
Yes, you will get 1% cashback on no cost EMI as well.
But they give 1% on the Principal Amount posted as EMI per month. (Forget this, in simple terms, you will get 1% on the Principal Amount)

You also asked for spend crieria. For Millenia, you will have to spend 50k within 90 days. (Trick: You can do wallet reloads, as you get 1% cashback on that)
Click to expand...
Got it, thanks for the info! At least something is better than nothing, besides it's rare I'd say to even have cashback on EMIs. And this spend criteria, have to do it only once, right? Like spend 50K once and have LTF card forever.

Also, I was just checking MoneyBack+ Credit Card, and it seems there's 5X Rewards on EMIs, and that roughly translates 1.25 rupees per 100 rupees or maybe it's 150 rupees, then in that case, yes Millennia is providing better cashback
 
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crazyuploader said:
Got it, thanks for the info! At least something is better than nothing, besides it's rare I'd say to even have cashback on EMIs. And this spend criteria, have to do it only once, right? Like spend 50K once and have LTF card forever.

Also, I was just checking MoneyBack+ Credit Card, and it seems there's 5X Rewards on EMIs, and that roughly translates 1.25 rupees per 100 rupees or maybe it's 150 rupees, then in that case, yes Millennia is providing better cashback
Click to expand...
Yes, you have to spend only once (not necessarily 50k in one go) within 90 days to make it LTF. (Spend Based Criteria is now given only to few customers, so check before applying whether it is spend based LTF offer or they are giving LTF without any condition.)

Yes, Millenia gives good reward rate on EMI spends.
 
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Piyush_Jaiswal said:
Yes, you have to spend only once (not necessarily 50k in one go) within 90 days to make it LTF. (Spend Based Criteria is now given only to few customers, so check before applying whether it is spend based LTF offer or they are giving LTF without any condition.)

Yes, Millenia gives good reward rate on EMI spends.
Click to expand...
I don't think this offer is applicable anymore. It has been withdrawn. Perhaps @Chaitanya-a can provide better confirmation.
 
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