How to get a better cc while holding HDFC Paytm 1lac limit and no income/ITR

[arydestroyer]

Hello guys, in the previous thread I had mentioned how HDFC was offering me a moneyback+, but as you guys suggested I did not take it.

After several negotiations I was finally able to convince them to increase my limit to 1lac from 25,000 without income proof of documents. It is noteworthy that I am a student and have no income or ITR. However, I am still stuck with the HDFC Paytm Card which is of almost no use to me with the cashback %.

Now I want a premium or atleast a mid level credit card with a higher limit.

How much should I ask for as limit ? And which variants should I ask them for which would be reasonable under my limits.

Here are some things for context:
1) I have imperia banking relation with the bank.
2) Constantly using upto 60-75% of my credit limit.
3) Cibil score of 782
4) 100% on time repayment history
5) Average balance around 1-2lacs and on family average balance around 30-70lacs
6) Personal relation with HDFC of 2.5 years, and family relation of 15+ years.

Basis the above, how and what should I negotiate with the cc team on mail? What would be realistically achievable ?

Thank you.

 

[arydestroyer]

Define a purpose before any course of action.

Purpose as in ? What I intend to do with the card ? Please elaborate, sorry. Thank you.

 

[arydestroyer]

The credit trap is real. Take no offence

Hahahah I dont think I am in the trap yet. Although if wanting a card with better return rate is being trapped, i am guilty.

 

[snjn]

@snjn I applied for Millenia and requested for higher limit. This is their response.
View attachment 64458

This is the response I have send back. Fingers crossed T.T

View attachment 64459

What do I respond with if they do not agree with me offer ? How do i convince them for ltf. I will meet the criteria each year and get the fee waived off, but the fact that theres a fee that will never be charged still kind of makes me feel entitled and forced to use this card hence i want it LTF. What should I mention. Thanks.

If they don't offer LTF even after this. Take FYF, they easily convert it to LTF after 6 months.
Moreover, you would be eligible for better card upgrade after 6 months. You should take it.
Card upgrade and limit enhancement is a gradual process and takes time.

 

[TheTrickySid]

Purpose as in ? What I intend to do with the card ? Please elaborate, sorry. Thank you.

Sorry but considering your posts in this thread it looks like you just want any premium card from HDFC without knowing how will you actually avail it's benefits.

Thus I said, first know the benefits you are exactly looking for, find a best suitable card for that and then fight for that card.

 

[vaibhav111vaibhav111 is verified member.]

You are correct, I think grievence redressal wont be very helpful with the limit increase, should try for the Rm and Bm. Hopefully it works. Thanks.

See my thought process is changing cause hdfc with it cashback removal isn't worthy and I already have imperia banking and infinia ltf pvc. So I can get business cc if I want but will be paying for it. So looking for better alternative So reason I'm saying this to you. You said you have imperia with 30L minimum. Now 3% on quartet basis is shit. Idfc private wealth is in process and induslnd pioneer 10L opening balance is ready once get a feedback from my friend who would get pioneer metal ltf as per her rm. Worst thing is try to make your parents understand between 3.5% vs 6.75 x 7.25 % interest rate. Would recommend you to open induslnd or idfc wealth either both or one. CC of indusnd pioneer is decent cause it lifestyle cc if achiever ltf no harm.

 

[kiwi195]

Was the paytm card pre approved?

 

[arydestroyer]

Sorry but considering your posts in this thread it looks like you just want any premium card from HDFC without knowing how will you actually avail it's benefits.

Thus I said, first know the benefits you are exactly looking for, find a best suitable card for that and then fight for that card.

Oh nono. I am personally looking for a better card for the lounge access and the cashback on amazon. I have to travel to delhi every 2 months so the lounge access is kinda essential. With the Indusind select account I already get 4 lounge access per quarter with the mastercard and visa signature but more would be helpful. Plus millenia isnt really a priority but at this point my axis bank liberty debit card gives much much better returns compared to this paytm card. On the weekend only ofcourse, but still, its much better than this. So i thought anything is fine but not the paytm hdfc card. Please do suggest me what I should be aiming for thought.. Advice is always good. I have broadband + mobile data recharge of 14k per year(airtel and jio sim, airtel broadband). flight bookings of 30-50k semi annually, amazon shopping of about 30k per month, offline spends of about 25k per month (Entertainment + groceries). I know this is very little but what do you think ? My current options are the HDFC paytm, Millenia and Axis neo (Got it pre approved yesterday, ltf. Dont know limit, will know once delivered i guess). Paytm hdfc gives a flat 1% cashback on non paytm spends. 5% on core paytm spends (none for me) and 3% on other paytm spends. It has a fee as well, alongside with no benefits whatsoever. Paytm first membership is useless. The 3% cashback on flights booked via paytm flights it great. But I get 10% back with icici credit card of my friend. Or 5% back (Upto 1000) with my axis bank liberty card on weekends. So this card is just a lose-lose situation. So i was just trying to improve my odds and avail better returns with my existing lifestyle. Sorry for the long para. But please do give me your suggestions. I am student by the way so anything I get is valuable for me. Thank you

 

[arydestroyer]

If they don't offer LTF even after this. Take FYF, they easily convert it to LTF after 6 months.
Moreover, you would be eligible for better card upgrade after 6 months. You should take it.
Card upgrade and limit enhancement is a gradual process and takes time.

Okay thank you. This is actually great advice. If they dont offer LTF, I will just take it fyf. Thank you

 

[arydestroyer]

See my thought process is changing cause hdfc with it cashback removal isn't worthy and I already have imperia banking and infinia ltf pvc. So I can get business cc if I want but will be paying for it. So looking for better alternative So reason I'm saying this to you. You said you have imperia with 30L minimum. Now 3% on quartet basis is shit. Idfc private wealth is in process and induslnd pioneer 10L opening balance is ready once get a feedback from my friend who would get pioneer metal ltf as per her rm. Worst thing is try to make your parents understand between 3.5% vs 6.75 x 7.25 % interest rate. Would recommend you to open induslnd or idfc wealth either both or one. CC of indusnd pioneer is decent cause it lifestyle cc if achiever ltf no harm.

One small question, I'll go with IndusInd as you said, however, I already hold an IndusInd select account. I use it for the BOGO offers and lounge access on all the three debit cards. 1 year will be completed in September of this year and I am hoping I'll be offered the legend credit card which will make me eligible to hold my existing account for 0MAB instead of the 50k MAB I am holding. What should I do? Should I create a new account for pioneer banking? Should I wait till September and see if I get pre-approved cc? Or should I just go to the pioneer branch make the deposit and upgrade my existing account into pioneer banking? Please suggest. Thank you.

 

[arydestroyer]

Was the paytm card pre approved?

Actually, I already had a pre-approved IOCL cc from hdfc bank with 25k limit. I had got it in 2022 or 23 I assume. And when I opened the Paytm app and applied for the paytm cc, it instantly got approved since I already held a cc with hdfc ? I am assuming that.

 

[vaibhav111vaibhav111 is verified member.]

One small question, I'll go with IndusInd as you said, however, I already hold an IndusInd select account. I use it for the BOGO offers and lounge access on all the three debit cards. 1 year will be completed in September of this year and I am hoping I'll be offered the legend credit card which will make me eligible to hold my existing account for 0MAB instead of the 50k MAB I am holding. What should I do? Should I create a new account for pioneer banking? Should I wait till September and see if I get pre-approved cc? Or should I just go to the pioneer branch make the deposit and upgrade my existing account into pioneer banking? Please suggest. Thank you.

Ok you already hold either upgrade to pioneer or let it be. Why you want zero mab though? You want invest somewhere else cause 6.75 slab rate as per amount you keep you need to validate what would work for you. Plus where you spend cause pioneer cc is lifestyle cc no point if spend aren't much. I only recommend you to deposit 10l cheque and keep for 3 month atleast not needed though then keep the idle cash for interest

 

[arydestroyer]

Ok you already hold either upgrade to pioneer or let it be. Why you want zero mab though? You want invest somewhere else cause 6.75 slab rate as per amount you keep you need to validate what would work for you. Plus where you spend cause pioneer cc is lifestyle cc no point if spend aren't much. I only recommend you to deposit 10l cheque and keep for 3 month atleast not needed though then keep the idle cash for interest

I dont need the cash but if it could be turned 0mab, I could relocate the cash in places where I can make better passive income. As for the CC, I dont really need the card. I was just thinking it would give a decent limit even as pre approved. + the international lounge access and hotel vouchers seemed attractive. But you are right, I dont need them. Should I wait with the current variant of my account hoping for a pre approved legend cc ?