Infinia INFINIA Journey, How INFINIA lost it's charm for me & How stupid HDFC RM's are

[technoswan]

Banks need to know first that you are an HNI. They won't know not thru your Cibil but your TRV with them, spends on the card or the documents you would present to prove your annual income or salary etc. That's exactly what banks would need to upgrade your existing card or approve you their best one.

You are absolutiley right.
But given that OP have salary account with HDFC. So they have access to all his investment and spend habits. I totally get OP's comment that "infinia have lost its charm for me". Just find better RM first and move account to different branch. Or bargain with other bank than HDFC. Seems all corporate are stressing on acquiring new customers and not giving any thought on retaining current customers. Move with the flow and become new customer, and don't forget to take your investment account with you too.

 

[techstrom007]

You are absolutiley right.
But given that OP have salary account with HDFC. So they have access to all his investment and spend habits. I totally get OP's comment that "infinia have lost its charm for me". Just find better RM first and move account to different branch. Or bargain with other bank than HDFC. Seems all corporate are stressing on acquiring new customers and not giving any thought on retaining current customers. Move with the flow and become new customer, and don't forget to take your investment account with you too.

I get in contact with a local branch and BM seems to be serious about the card. He called me atleast 10 times in last week to confirm one thing or another or to get a document.

The only problem, he is asking for a 10 L ulip considering my investment potential that's after i get the card. But, it doesn't seems inlined with my expectations.

I'm considering HSBC premier next, considering their oversees presense and other benefits.( Have some plans to move to Uk, back of my mind) I can deposit 40L cash and has salary more than the required criteria anyway.

 

[tachniki]

I get in contact with a local branch and BM seems to be serious about the card. He called me atleast 10 times in last week to confirm one thing or another or to get a document.

The only problem, he is asking for a 10 L ulip considering my investment potential that's after i get the card. But, it doesn't seems inlined with my expectations.

I'm considering HSBC premier next, considering their oversees presense and other benefits.( Have some plans to move to Uk, back of my mind) I can deposit 40L cash and has salary more than the required criteria anyway.

If you meet salary criteria, don't agree for any ULIP. I had much lesser deposit than what you are willing to.

 

[theXfactor]

I get in contact with a local branch and BM seems to be serious about the card. He called me atleast 10 times in last week to confirm one thing or another or to get a document.

The only problem, he is asking for a 10 L ulip considering my investment potential that's after i get the card. But, it doesn't seems inlined with my expectations.

I'm considering HSBC premier next, considering their oversees presense and other benefits.( Have some plans to move to Uk, back of my mind) I can deposit 40L cash and has salary more than the required criteria anyway.

My take - ULIP is never a good idea. Regardless of the returns you make, you end up giving banks much more. Moreover, taking something against ULIP won’t give you the kind of satisfaction you otherwise deserve of having an exclusive offering.

 

[Vinay13]

Banks need to know first that you are an HNI. They won't know not thru your Cibil but your TRV with them, spends on the card or the documents you would present to prove your annual income or salary etc. That's exactly what banks would need to upgrade your existing card or approve you their best one.

Hdfc still does not give F**k.
They just want to sell ULIPS or shitty plan in exchange of ULIPS

 

[theXfactor]

Hdfc still does not give F**k.
They just want to sell ULIPS or shitty plan in exchange of ULIPS

They ofcourse would do, it’s beneficial for them not for us. It’s for us whether to take the bait or move on.

 

[sunit123]

Is Infinia worth that much hassle? I thought HNI don't need to hard bargain anything. Banks just roll red carpet to cater them.

HNI's dont face any issue....Non-HNI's are headache for bank who piss the bank with Infinia request.

 

[tachniki]

HNI's dont face any issue....Non-HNI's are headache for bank who piss the bank with Infinia request.

Infinia is hardly a HNI card. It's fees is appropriate for middle to upper middle income. Rewards system from buying vouchers to spend is more middle income group type. Spend target of 10L for fees waiver is almost middle income to upper middle group annual expense. And I guess more than 50% of customer will be middle income group. 🙂

 

[Vinay13]

Infinia is hardly a HNI card. It's fees is appropriate for middle to upper middle income. Rewards system from buying vouchers to spend is more middle income group type. Spend target of 10L for fees waiver is almost middle income to upper middle group annual expense. And I guess more than 50% of customer will be middle income group. 🙂

True. HNIs really dont buy vouchers from smartbuy that upper middle class thing. HNI looks for previles and lifestyle benefits. Amex plat is true HNI card

 

[theXfactor]

True. HNIs really dont buy vouchers from smartbuy that upper middle class thing. HNI looks for previles and lifestyle benefits. Amex plat is true HNI card

Good to know...I'm not an HNI anymore. 😀

 

[bing1309]

True. HNIs really dont buy vouchers from smartbuy that upper middle class thing. HNI looks for previles and lifestyle benefits. Amex plat is true HNI card

Not true, I am HNI, i use the card as it's giving me benefits, amex in india is not a true HNI card more over I use hdfc more than amex because of its issues in usage, HNI's hate when there card declines because of such frequent declines, hence visa network. HDFC is used.

 

[theXfactor]

Regardless of their HNI status, people don't want their card to be declined more often than not at schools or even at normal merchant PoS. Shopkeepers refuse to accept Amex often due to their high MDR. Moreover, it's not accepted in several countries where you have to fall back on cards on Visa/MC platforms. Each of these adds to your experience.
One's definition of privileges and lifestyle benefits are highly subjective.