My experience with HDFC and Axis Bank

[joshmas]

I hold a SB Max account with HDFC. I had applied for a credit card, but because of a mistake by their field agent, the card was rejected. I spoke to the customer support, and they asked me to send documents by post, which I did. It's been four months and there has been no response. What is the use of having a premium account when the bank does not give credit cards? My CIBIL score is 800, and except for the mistake by their agent, there was no other reason to deny the card. Reason mentioned is incorrect address. Actually the agent went to the wrong house and asked about me.

Compare that with Axis bank. I DO NOT hold a savings account with them. Even then they approved Vistara Infinite without documentation and gave Magnus as well. After six months of usage, they increased my limit by 700%.

I am thinking whats the use of having an account with HDFC, so planning to close it and moving to Axis bank premium account.

Open to your suggestions.

 

[suhailmz]

I got magnus and VI last month. my wife fk card is stuck with limit 59k for last 5 months. waiting for LE, if it is 4L than upgrade to magnus.

My original limit on FK card was just 32k and I applied for LE after 6 months and they increased my limit to 2.1 lakh. Interesting thing is that in the email they asked me about desired limit & I just mentioned 2 lakh as my salary back then was just 75k per month. Now I want to apply for LE again with 1.8 lakh Monthly salary but they asked me to wait for 6 months to reapply for LE. Hoping to take it to 5 lakh 🙂

 

[AJ-]

Yes, When I got, the limit was 50 thousand. Its been six months now(that's the rule with axis I guess, minimum six month statement should have been generated). I asked for LE and they increased it to 4 lakhs. I utilized 50% of the limit every month. What might have also helped is my magnus usage.

you called CS for LE or given any income docs ?

 

[ltf4ever]

I hold a SB Max account with HDFC. I had applied for a credit card, but because of a mistake by their field agent, the card was rejected. I spoke to the customer support, and they asked me to send documents by post, which I did. It's been four months and there has been no response. What is the use of having a premium account when the bank does not give credit cards? My CIBIL score is 800, and except for the mistake by their agent, there was no other reason to deny the card. Reason mentioned is incorrect address. Actually the agent went to the wrong house and asked about me.

Compare that with Axis bank. I DO NOT hold a savings account with them. Even then they approved Vistara Infinite without documentation and gave Magnus as well. After six months of usage, they increased my limit by 700%.

I am thinking whats the use of having an account with HDFC, so planning to close it and moving to Axis bank premium account.

Open to your suggestions.

I hold accounts and cc of both banks.
i regret even opening an account in axis.
hdfc account opening process was painful and took 7 days, axis took just 2 hours. i was happy with axis. but that was the only thing good.

my hdfc account is preferred. the RMs are useless. they might ask you to send documents by post to chennai. but still i would suggest not going for axis.

axis: their biggest scam is consolidated charges (if you are opting for their premium account then you do to need to worry about that). they will ask you to visit branch for even the smallest of requests that you have (like turning off SMS alerts). they daid they are charging me consolidated charges for debit card, sms alert, etc. when i told them that i don't even receive the alerts, they started sending me sms alerts right from the next day onwards.
they don't even fear the RBI Ombudsman. i am going to close axis and continue with my slow but steady HDFC acct as soon as my axis FDs mature.

they even refused to make my account priority account over their online portal even after me maintaining a very high balance for over a year. they said that since my account was opened digitally, their system problem is there for such accoubts and i need to visit branch for the same and they will do it in 2 minutes.

so in short, hdfc might be inefficient and like govt bank attitude so that's why you will face some minor issues. but axis wilfully tries to make things difficult and earn money from their customers' ignorance.

and never open any bank account just for credit cards, in my experience, they both are not connected (unless there is an offer going on and the sales guy is providing it at his own discretion).

 

[joshmas]

That's your fault bro. You should have waited for the pre-approved offer.
Keep a good balance in the acct and should have waited for 2 to 3 months.

I also hold a Saving Max acct with HDFC. After a month of opening bank acct i asked in the bank for credit card. They told me to wait atleast for 3 months. you will get pre-approved offer. didnt want to apply manually.

Like they said exactly after 3 months i got a pre-approved offer of 3 cards (Regalia, DCP and one Indigo card) with 3L limit. My cibil was 782. No documents nothing. I selected Regalia and it was approved on the same day. On the 4th day i got my card delivered.

Nd regarding axis, if u r not opting for a premium acct with them stay away from them.
I hold a salary acct with them, even the DC has charges and the monthly there's a convenience charges or something.
Its a nightmare evenwith a salary acct in axis. I cant change the salary acct as acct was opened to me by the company. That's why holding back.

Earlier my acct was in SBI. That's another nightmare.
Overall am happy with HDFC. Only issue is the frequent calls from their bank employees to sell their product. Jst ignore them.

Thanks bro, I think I applied too early with HDFC 🙂 Thanks for your detailed thoughts on Axis savings account. Looks like too many people are facing issues

 

[NewUser]

I'd also suggest a bit of patience here. Banks want people to use credit card, such that their spending habits increase(and they definitely do). So even if you don't have an account with the bank, they'd pester you to get at least one of their entry level credit cards(once they have your number by any means). And if you default, they'd have biryani that night!

Now, if you want something more than entry level credit cards, that's a different ball game.

 

[Patil007]

That's your fault bro. You should have waited for the pre-approved offer.
Keep a good balance in the acct and should have waited for 2 to 3 months.

I also hold a Saving Max acct with HDFC. After a month of opening bank acct i asked in the bank for credit card. They told me to wait atleast for 3 months. you will get pre-approved offer. didnt want to apply manually.

Like they said exactly after 3 months i got a pre-approved offer of 3 cards (Regalia, DCP and one Indigo card) with 3L limit. My cibil was 782. No documents nothing. I selected Regalia and it was approved on the same day. On the 4th day i got my card delivered.

Nd regarding axis, if u r not opting for a premium acct with them stay away from them.
I hold a salary acct with them, even the DC has charges and the monthly there's a convenience charges or something.
Its a nightmare evenwith a salary acct in axis. I cant change the salary acct as acct was opened to me by the company. That's why holding back.

Earlier my acct was in SBI. That's another nightmare.
Overall am happy with HDFC. Only issue is the frequent calls from their bank employees to sell their product. Jst ignore them.

Yes, Axis is famous for charges and SBI, no need to say anything 🤣.

 

[004archit]

My original limit on FK card was just 32k and I applied for LE after 6 months and they increased my limit to 2.1 lakh. Interesting thing is that in the email they asked me about desired limit & I just mentioned 2 lakh as my salary back then was just 75k per month. Now I want to apply for LE again with 1.8 lakh Monthly salary but they asked me to wait for 6 months to reapply for LE. Hoping to take it to 5 lakh 🙂

How you applied for increased limi in axis ?

 

[Rahul92]

Thanks bro, I think I applied too early with HDFC 🙂 Thanks for your detailed thoughts on Axis savings account. Looks like too many people are facing issues

I've Burgundy savings account with axis since 1 year now and I would say it's not worth putting that much money with axis.

Coming from SBI , i wanted to have a premium experience account at some private bank. Thus went for Burgundy.

Planning to shift to my IDFC account and upgrade it to wealth. At least those guys pretend to care about customers and RM calls more often.
Already have 3 cards from axis - ACE , Vistara and Select LTF. Will change select to magnus before closing.

 

[vaibhav111vaibhav111 is verified member.]

damn i have hdfc Imperia account and i did though of opening axis bank not because off cc, i hold 2 card fk paid n myzone LTF, I'm glad I'm lazy to head over the branch even though it under my office blg, cause opening burgundy seem only option but then what the point cause i can get magnus if i want , it simple if something isn't broken don't fix it.

 

[Chaitanya-a]

Planning to shift to my IDFC account and upgrade it to wealth. At least those guys pretend to care about customers and RM calls more often.
Already have 3 cards from axis - ACE , Vistara and Select LTF. Will change select to magnus before closing.

Yes IDFC Wealth is way better than Axis Burgundy

 

[SiddharthR]

Overall am happy with HDFC. Only issue is the frequent calls from their bank employees to sell their product. Jst ignore them.

I think we don't need to ignore them and first of all hear all the benefits of the plan they are selling and ask them questions what is the XIRR, etc etc and you need to prove them on the call that you are not falling in their trap....

This was my experience, I did not receive calls since 9 months (AC age:1.5y)

 

[ltf4ever]

I think we don't need to ignore them and first of all hear all the benefits of the plan they are selling and ask them questions what is the XIRR, etc etc and you need to prove them on the call that you are not falling their trap....

This was my experience, I did not receive calls since 9 months (AC age:1.5y)

haha....i think they know that we are aware of rate of return, diversification of portfolio concepts.
so when I told my RM that i dont need their products for investment as they are of no value to me, they frankly said that sir please buy something, i have monthly targets to achieve 😅

 

[SiddharthR]

haha....i think they know that we are aware of rate of return, diversification of portfolio concepts.
so when I told my RM that i dont need their products for investment as they are of no value to me, they frankly said that sir please buy something, i have monthly targets to achieve 😅

My RM had never called me after the account opening, I think he has many 'bakras' to complete his targets...😂

 

[Dragon_slayer]

I hold an HDFC Imperia account; there are absolutely no benefits of Imperia, a garbage product. Dont go for it ever, going to close my account this week.

Axis burgundy account is really good.

 

[SiddharthR]

I hold an HDFC Imperia account; there are absolutely no benefits of Imperia, a garbage product. Dont go for it ever, going to close my account this week.

Axis burgundy account is really good.

Less charges, less benefits
More charges, more benefits
ASAT

 

[Dragon_slayer]

Less charges, less benefits
More charges, more benefits
ASAT

Burgundy and Imperia have same balance maintenance requirements

 

[SiddharthR]

Burgundy and Imperia have same balance maintenance requirements

But there are charges if you don't maintain balance

 

[vaibhav111vaibhav111 is verified member.]

Burgundy and Imperia have same balance maintenance requirements

for imperia it could be zero balance, they don't downgrade or i haven't experience that. but reaching to imperial isn't easy either though. high NRV would have required in the past.

 

[joshmas]

you called CS for LE or given any income docs ?

I emailed them

 

[004archit]

I emailed them

Can you share the email I’d ?