One should never go for a CC backed by any kind of insurance products. It's just a gimmick by the RM / BM to meet their targets.
Yes that why i dropped it.
I dont want to offend you but How old are you? Either you are very young, or may be they think you aren't the decision maker.
Or may be they feel that money means nothing to you. ( I am not saying that you are like that. It's all about their perception. )
That's only plausible explanation.
My advice is close the account and all cc and send an "appreciation mail" to MD desk.
Let them know that you would close all other relationship like loan/insurance also. only way you would ever consider hdfc for any relationship if they give you infinnia and formal letter of apology for mishandling of situation.
Because what they have done is very insulting. And your bm/cluster head is 100% to blame.
I was 27 when I mailed them last yr. Is that too young? I don't think so (I certainly don't feel so either). Especially when Axis is treating me so much better.
Hell even Kotak is, I don't even bother to maintain relation with them. They gave me card with 8.2lk limit.
While spends and all are good, ITR plays a very important role in credit worthiness of an Individual. How can you expect bank to lay red carpet for all cards and Infinia if ITR reported is in the range of 10-15L? In my opinion, this is the single biggest reason for such behaviour of the bank.
I would in-fact say that ITR of 15L with yearly expense of 80L is a big red signal for bank. Axis agreed as their policy entirely depends on MAB / AQB criteria and overall they are relaxed in handing out Magnus
The same way Kotak, Axis, Indusind, RBL did? A business person, would obviously have higher Expense than the ITR. That's the nature of the business.
For a business, ITR is just one aspect for determination of creditworthiness.
Also just to run the point home, I applied for Loan via HDFC, IDFC & Axis. 1.5cr Loan, I applied via RM for both. Axis Branch Manager and Home Loan department head came to my house to get it done and got the loan sanctioned in 3 days flat. Same with IDFC too, they sanctioned the loan in 5 days but I couldn't go with them due to high ROI. The only reason I had to apply via IDFC & Axis was because HDFC person came, took the papers and didn't even bother to login for a whole month. This is after me calling me almost regularly and calling the RM too.
After a month the RM reachs out in conference call with the guy who came to collect paper (By this time my loan was already disbursed by Axis). And was apologizing asking me to cancel the loan with Axis and get sanctioned with HDFC. If they are ok to give 1.5cr loan then you want to tell me I am not eligible for 8-10lk card? Yes the loan is backed by the house, but that's how the treat me.
And I feel the only reason I get treated like this is because of the business, if I was a salaried, I would probably have a much easier time.
