How to get a high limit HDFC credit card as their first unsecured card?

[LHR]

My cousin is 19 (a student, no ITR), he has a CIBIL of about 780 due to his 2 FD credit cards that he got as soon as he turned 18. He has a few offers from SBI I think but he wants a high credit limit HDFC core card so he can work towards DCB/Infinia.

He has opened an HDFC DigiYouth Savings Account with about 10k in his account a few weeks ago (he chose student as his occupation while opening his account). Would it be a good idea to move 5-7L from his father's savings account to his account and upgrade to the Speciale Gold account and Preferred Banking to ensure a few months down the line he will get a pre-approved core HDFC card with a high limit so he can get the spends required for DCB/Infinia in the next 6 months. He can easily double the spends required in the allotted time, the only issue is the credit limit requirement, any help in ensuring the best way to get the highest limit would be highly appreciated.

P.S. Any unsolicited advice about keeping that amount of money as savings or aiming too high too soon are not required or appreciated, thanks!

 

[Swastik]

P.S. Any unsolicited advice about keeping that amount of money as savings or aiming too high too soon are not required or appreciated, thanks!

Alright then I'll get straight to the point ,best bet for him would be to try and get a FD backed secured card with high limit and atleast Regalia Gold Variant, also it helps if he or any other family member knows anyone personally at hdfc

What is the current credit limit on his secured cards ?

 

[LHR]

Alright then I'll get straight to the point ,best bet for him would be to try and get a FD backed secured card with high limit and atleast Regalia Gold Variant, also it helps if he or any other family member knows anyone personally at hdfc

What is the current credit limit on his secured cards ?

Will FD backed Regalia Gold even work for the upgrade route? The goal is to get a high limit unsecured card and then spend over 6L to have a solid profile to get a DCB or over 8L for Infinia if the limit is high enough. I have seen people get offered unsecured cards based on the amount of money in their savings accounts and number of transactions done from the account.

The limit he currently has is about 50k I think.

 

[Swastik]

Will FD backed Regalia Gold even work for the upgrade route? The goal is to get a high limit unsecured card and then spend over 6L to have a solid profile to get a DCB or over 8L for Infinia if the limit is high enough. I have seen people get offered unsecured cards based on the amount of money in their savings accounts and number of transactions done from the account.

The limit he currently has is about 50k I think.

Secured to Unsecured change is triggered by bank after certain amount of time ,good usage and credit score help but without any salary there's no sure shot way ,but getting into HDFCs system with a high limit card seems to be the fastest possible way

Getting unsecured cards based on the amount of money in savings accounts and number of transactions done from the account doesn't seem to matter much if you don't have a good cibil report(high limit cards) or high salary to begin with ,you might get pre approved offer but usually base cards with low limit

If you want to play slow game ,get ICICI unsecured card ,they give out easily and they give good limit enhancement on regular basis ,
Once you get to a high limit ,use it get a good card with HDFC,

Most if the success stories I've seen usually involves having personal contacts with bank employees or bargaining hard with them by offering give them some business (consider buying ulip if really desperate, bank employees will bend over backwards to get you best possible card)

 

[Astrella]

he can get it pre-approved, but I doubt it will have high limit. Need to start somewhere.

 

[LHR]

Secured to Unsecured change is triggered by bank after certain amount of time ,good usage and credit score help but without any salary there's no sure shot way ,but getting into HDFCs system with a high limit card seems to be the fastest possible way

Getting unsecured cards based on the amount of money in savings accounts and number of transactions done from the account doesn't seem to matter much if you don't have a good cibil report(high limit cards) or high salary to begin with ,you might get pre approved offer but usually base cards with low limit

If you want to play slow game ,get ICICI unsecured card ,they give out easily and they give good limit enhancement on regular basis ,
Once you get to a high limit ,use it get a good card with HDFC,

Most if the success stories I've seen usually involves having personal contacts with bank employees or bargaining hard with them by offering give them some business (consider buying ulip if really desperate, bank employees will bend over backwards to get you best possible card)

The uncertainty of hoping for switch to unsecured or approving the upgrade is not something that is worth the effort of putting in an FD of 6-7L because it could all be for nothing. I have people in my family who do not spend any substantial money on their credit cards nor have high ITRs but have several lakhs of credit limit, only correlation I see is that they have a good chunk of money in their savings.

The desperate tactics aren't really worth the hassle as he can meet the spending requirement very easily, it's just getting out the gate that is difficult.

 

[LHR]

he can get it pre-approved, but I doubt it will have high limit. Need to start somewhere.

on what basis is this pre-approved card's limit determined?

 

[Swastik]

I have people in my family who do not spend any substantial money on their credit cards nor have high ITRs but have several lakhs of credit limit, only correlation I see is that they have a good chunk of money in their savings.

In my observation it's Time ,Credit History and Salary that gets you to good cards and high limits ,
If not desperate then better to play long game ,start somewhere and keep working on it

 

[Astrella]

on what basis is this pre-approved card's limit determined?

The AMB, spending pattern, and most importantly salary (if any). they also do soft credit checks, Having a good credit history guaranteed higher limit.