How to rebuild damaged credit profile to get premium CC asap

[hs23new]

Both my parents have low cibil due to late payments in past. Please suggest how to rebuild the cibil profile.

Mom - 743
Dad - 1

The goal is to get following CCs for both of them asap.

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal


My score is 788. I am thinking of leveraging that using add on CC to rebuild my parents CIBIL quickly. I heard Amex, ICICI, SCB and HSBC report add on cards. How much will getting add on cards help?

Any other method?

Thanks.

 

[hs23new]

@S S V please share your advice

 

[s1t2y3a3m6]

Both my parents have low cibil due to late payments in past. Please suggest how to rebuild the cibil profile.

Mom - 743
Dad - 1

The goal is to get following CCs for both of them asap.

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal


My score is 788. I am thinking of leveraging that using add on CC to rebuild my parents CIBIL quickly. I heard Amex, ICICI, SCB and HSBC report add on cards. How much will getting add on cards help?

Any other method?

Thanks.

As per my knowledge your addon cards couldn't make credit score of your parents.

One way is there, take FD card either lowest(2k or 5k) value or high value ( like above 1lakh). Then wait atleast 8 months to recover credit health. Then you can go through unsecured options.

You can't get asap as your wish in terms of credit history

 

[sourpai]

IDFC Wow can help your Dad. The card comes easily with FD and it impacts CIBIL positively if all payments are made on time for 6-8 months

 

[hs23new]

IDFC Wow can help your Dad. The card comes easily with FD and it impacts CIBIL positively if all payments are made on time for 6-8 months

I will apply for IDFC Wow for my dad. It will be useful for them on international travel.

Can my mom get any of these cards:

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal

 

[varun__goel_]

I will apply for IDFC Wow for my dad. It will be useful for them on international travel.

Can my mom get any of these cards:

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal

Her score is below is 750, so it might be difficult.

Either you will have to apply for fd card or depend on pre approved offers.

Get her an account in hdfc and axis. Maintain a decent relationship with good amount of spends on DC. You will get pre approved offers easily.

 

[Vasuki]

Both my parents have low cibil due to late payments in past. Please suggest how to rebuild the cibil profile.

Mom - 743
Dad - 1

The goal is to get following CCs for both of them asap.

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal


My score is 788. I am thinking of leveraging that using add on CC to rebuild my parents CIBIL quickly. I heard Amex, ICICI, SCB and HSBC report add on cards. How much will getting add on cards help?

Any other method?

Thanks.

No idea about your father .
Now about mother profile -

743 ? Share more details of her profile.

1- sbi cashback ( sbi giving card based on cibil profile mostly - so u need to get good card first )
2- axis atlas , reserve ( u should tell the profile for any recommendations)
3 - hdfc dcb metal ( hdfc gives max regalia gold directly.. never dcb plastic .forget metal )

So explain your relationship with hdfc & hers

 

[Vasuki]

Her score is below is 750, so it might be difficult.

Either you will have to apply for fd card or depend on pre approved offers.

Get her an account in hdfc and axis. Maintain a decent relationship with good amount of spends on DC. You will get pre approved offers easily.

Lately many ppl got below 750 bcz of random cibil score decrease..
Saw mostly with ppl having bnpl , & loans ( unsecured) .
I too have loan but vehicle ..
My score jumped up & down daily 😅😅

 

[sourpai]

I will apply for IDFC Wow for my dad. It will be useful for them on international travel.

Can my mom get any of these cards:

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal

Not sure about SBI, but with Axis, HDFC and Yes bank you will have a good leverage on negotiating a card while opening a premium bank account (usually with >2-5L initial funding). Getting a card also depends on income levels. So try your luck with this approach and you might get a few cards from the list you mentioned

 

[sidp]

My score is 788. I am thinking of leveraging that using add on CC to rebuild my parents CIBIL quickly. I heard Amex, ICICI, SCB and HSBC report add on cards.

Many issuers do hard enquiry for add on card. Some might even report it. But I am not sure how will they report repayment history.
All spends are reported on primary holders account. As there is no different credit account for add on holder. Is it even possible?

Similar thing happens in insurance. In many countries (eg UK) you can add authorized user for your car. They have different insurance account. If they hit your car , you won't lose no claim bonus. So it's very common for learners to take this insurance. Sadly add on card doesn't work like that.

 

[sidp]

1) SBI cashback
2) Axis Atlas
3) Yes Reserve
4) HDFC DCB Metal

In your dad case, it is very doubtful to get option 2,4 and even 3 for years.

In your mom case you can get 1 after few months once it above 750-760. Realistically for rest, fd based card will be easiest way. This is because 2,4 are premium card and yes is very strict with cl due to obvious reasons. Many people with 6-8 L cl are getting only 1-2L cl in yes.
Hdfc terms even reg gold as super premium card. They want to maintain exclusivity for dcb/infinnia. As there are adverse comments, so even after some 10L fd for dcb metal, other factors will come into play: Your trv, branch location/size etc.