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TF Buzz
I am not one of those people who get upset with 1-2 inquiries in credit report and worry about it, as the affect fade off within months.
So lot of the time I have seen people trying to avoid hard inquiries while applying for a Pre-Approved card. In most cases, this is very good,
But I have started to believe that in the case of HDFC bank its more of a negative effect rather than a positive, especially when your credit report is quite young and when it comes to long-term automated offers such as credit limit enhancements and card upgrades.
Here is my observation:
Almost 5 years ago, when I didn't had any credit card, I took ICICI secured card and used it for one year and closed it.
After few months I got a pre-approved offer from Axis and got a card with 1L limit ( no hard inquiry ).
After few days, I logged in HDFC NetBanking account and it was showing pre-approved card banner, and went ahead and check it.
It made a HARD INQUIRY and showed MoneyBack+, Tata Neu Plus and some indigo card.
I took MB+ and it got approved with 1L limit.
HDFC made 2 Hard enquiry that time and given that time my credit report was quite young.
I closed the MB+ after a year of use, as they were not ready to upgrade it no matter what proof i gave, even though I was eligible for higher limit and card.
Now fast forward 3-4 years ahead, which is now, I have more cards with good limit and 3-4 years of payment history.
During this LTF offer, I again see this banner and I tried to see which card they offered.
I took DCP and to my surprise, they gave a limit of 1.2L, the lowest of all and just 20K higher than what they offered so many years ago.
I was not surprised as HDFC is well known for it.
But, I have been seeing people sharing their experiences and how they got 1.5L, 2L, and even more limits.
And most of them had HARD Inquiry made.
I came across a post on reddit where a guy was not able to apply for the card, and he contacted customer support for the reason, and they told him that due to the credit report data they had, it was happening.
I don't remember the exact specifics but it did mention a credit report.
So now, given that HDFC is well known to be operating on ancient banking infrastructure,
I won't be surprised if their algorithms are pushing card upgrade/limit enhancement offers based on many-year-old credit report data they have, which they got long ago, and making all the decisions based on it, unless and until they make a hard inquiry and get updated.
Just like how recently, I was shown the cards and limit was given based on the ancient credit report data they have on me.
No matter how many times I have tried they always show a pre set of offers only and don't do any hard enquiry!!
And I think this is kind of backfiring since their algorithms. decisions and automated offers are still pushing things based on that old credit report data.
I might be wrong, but I cannot find any other explanation.
My HDFC account is more than 10+ years old and transactions on account are above 6L+ each year.
I thought checking CIBIL report through their netbanking might work but not sure if that updates their data and if the two are totally independent.
So how do I make HDFC make a hard inquiry and so their shitty backend gets an updated credit report and their algorithm stops making decisions based on credit data which is almost 4-5 years old.
So lot of the time I have seen people trying to avoid hard inquiries while applying for a Pre-Approved card. In most cases, this is very good,
But I have started to believe that in the case of HDFC bank its more of a negative effect rather than a positive, especially when your credit report is quite young and when it comes to long-term automated offers such as credit limit enhancements and card upgrades.
Here is my observation:
Almost 5 years ago, when I didn't had any credit card, I took ICICI secured card and used it for one year and closed it.
After few months I got a pre-approved offer from Axis and got a card with 1L limit ( no hard inquiry ).
After few days, I logged in HDFC NetBanking account and it was showing pre-approved card banner, and went ahead and check it.
It made a HARD INQUIRY and showed MoneyBack+, Tata Neu Plus and some indigo card.
I took MB+ and it got approved with 1L limit.
HDFC made 2 Hard enquiry that time and given that time my credit report was quite young.
I closed the MB+ after a year of use, as they were not ready to upgrade it no matter what proof i gave, even though I was eligible for higher limit and card.
Now fast forward 3-4 years ahead, which is now, I have more cards with good limit and 3-4 years of payment history.
During this LTF offer, I again see this banner and I tried to see which card they offered.
I took DCP and to my surprise, they gave a limit of 1.2L, the lowest of all and just 20K higher than what they offered so many years ago.
I was not surprised as HDFC is well known for it.
But, I have been seeing people sharing their experiences and how they got 1.5L, 2L, and even more limits.
And most of them had HARD Inquiry made.
I came across a post on reddit where a guy was not able to apply for the card, and he contacted customer support for the reason, and they told him that due to the credit report data they had, it was happening.
I don't remember the exact specifics but it did mention a credit report.
So now, given that HDFC is well known to be operating on ancient banking infrastructure,
I won't be surprised if their algorithms are pushing card upgrade/limit enhancement offers based on many-year-old credit report data they have, which they got long ago, and making all the decisions based on it, unless and until they make a hard inquiry and get updated.
Just like how recently, I was shown the cards and limit was given based on the ancient credit report data they have on me.
No matter how many times I have tried they always show a pre set of offers only and don't do any hard enquiry!!
And I think this is kind of backfiring since their algorithms. decisions and automated offers are still pushing things based on that old credit report data.
I might be wrong, but I cannot find any other explanation.
My HDFC account is more than 10+ years old and transactions on account are above 6L+ each year.
I thought checking CIBIL report through their netbanking might work but not sure if that updates their data and if the two are totally independent.
So how do I make HDFC make a hard inquiry and so their shitty backend gets an updated credit report and their algorithm stops making decisions based on credit data which is almost 4-5 years old.
