New HDFC Branch opened close to me, Rural branch, any chance of investment based Infinia or DCB?

[Avinash.Mishra]

Went through CISBI Directory that stated that a branch opened on 30th of March 2024 18km away from where I stay and 500m away from where I work(I have a private doctor's chamber there). I have 10lakh in FD getting renewed this year in SBI (old FDs in my name from my grand parents).

1. Upto what card can I demand from the branch for the 10L?

2. Can I do some local shop level bargaining? Like i'mma start with 2 lakh and gradually increase the amount I tell them 👀

Dream would be infinia paid, but Probably have to lower my expectations!

No it could have worked couple of months ago but after the new eligibility criteria they have stopped issuing cards based on CH approval. I have tried and secured CH approval but my BH delayed the application and when he submitted new rules were in place and credit card team denied issuing card.

 

[tachniki]

One negotiation skill that works for me most of time is making them believe that if they can't get this done, I will walk off the negotiation table with my money. So, put a bait of 10 L. Assess how valuable they see you. If they value you, put a condition. And walk off (at least temporarily) if they don't agree.

 

[Hritaban]

No it could have worked couple of months ago but after the new eligibility criteria they have stopped issuing cards based on CH approval. I have tried and secured CH approval but my BH delayed the application and when he submitted new rules were in place and credit card team denied issuing card.

That's the proper normal way. HDFC bank employees always have some leeway left for people they find valuable. My 10L might not be valuable to my home branch that much, but it may for a rural 10 months old one. If they find you valuable, they will stick their neck up to their higher-ups and get it approved.

Lets see

 

[Hritaban]

One negotiation skill that works for me most of time is making them believe that if they can't get this done, I will walk off the negotiation table with my money. So, put a bait of 10 L. Assess how valuable they see you. If they value you, put a condition. And walk off (at least temporarily) if they don't agree.

I see. I have never done these things before, any help is appreciated.

Can you help me gauge how to approach.

1. Should I approach the CC guy (as this is not my home branch) or should I chat with the manager first

2. As @SSV mentioned as well as you, I should be placing 10L on the table right off the bat, so, how should I approach the question regarding my home branch? (If they ask, why not do it in home branch)

 

[Nishan11]

I don't think just 10 L fd will get anyone paid dcb or infinia in any hdfc branch rural or urban. The most one can get is Regalia Gold.

This is after recent policy changes done by hdfc.

One needs to have good relationship with BM or give them good business or at least create a mirage showing you will give them good business ( Need good convincing skill ).


Easiest route is patiently increase your existing hdfc credit card limit by manual request if you have income proof & then request for DCB upgrade first. Spend big on it for 6 months then request paid infinia.

To upgrade existing hdfc card to DCB, credit limit should be 5L. To upgrade to infinia, credit limit should be 10L. Some exceptions can be given depending on relationship with bank.

 

[Avinash.Mishra]

That's the proper normal way. HDFC bank employees always have some leeway left for people they find valuable. My 10L might not be valuable to my home branch that much, but it may for a rural 10 months old one. If they find you valuable, they will stick their neck up to their higher-ups and get it approved.

Lets see

I had provided 1.25 Cr in FD + 3 Cr Term Insurance on the inauguration day of the rural branch. You can try your luck. BM had secured Circle Head approval I have read the email myself but it didn’t work.

 

[sidp]

I had provided 1.25 Cr in FD + 3 Cr Term Insurance on the inauguration day of the rural branch. You can try your luck. BM had secured Circle Head approval I have read the email myself but it didn’t work.

With that kind of amount you shouldve gotten infinnia. Most likely bm doesn't know the trick of the trade due to inexperience. Any well connected/informed bm could've gotten dcbm especially for ntb. You shouldve contacted cluster head directly.

Circle head can give rg card at most. For dcb/infinnia you need GH approval, earlier bbh was enough.

My cluster head had gotten income deviation approval from zonal heads ( both branch & loan) for dcb under alumni offer. Still I didn't get it. Bbh was stalling. I could've contacted GH(senior alum) directly, but didn't want ask for favour for a cc. Circle head himself can't get infinnia. 🤣

 

[Avinash.Mishra]

With that kind of amount you shouldve gotten infinnia. Most likely bm doesn't know the trick of the trade due to inexperience.

Circle head can give rg card at most. For dcb/infinnia you need GH approval, earlier bbh was enough.

My cluster head had gotten income deviation approval from zonal heads ( both branch & loan) for dcb under alumni offer. Still I didn't get it. Bbh was stalling. I could've contacted GH(senior alum) directly, but didn't want ask for favour for a cc. Circle head himself can't get infinnia. 🤣

I was trying for infinia metal ltf CH and GH had approved for paid infinia but credit card team denied completely

 

[sidp]

I was trying for infinia metal ltf CH and GH had approved for paid infinia but credit card team denied completely

Circle head is middle mgmt. Doesn't have much weightage. He can give RG , diners privilege.

GH is senior mgmt, much higher post. Once GH gives approval cc team HAS to give. what happens is cc (variant and cl) is approved by underwriter which are low level employee. They reject 1st time around. Then BM has to resend attaching GH approval . At that moment they have to approve.
By doing this, if the customer defaults, underwriter takes no responsibility. If GH has given approval means, in other ways they have already made more money debt exposure. So no one is bothered.

Pricing approval is given by product team. Again once GH gives approval, they don't stall.

 

[Avinash.Mishra]

Circle head is middle mgmt. Doesn't have much weightage. He can give RG , diners privilege.

GH is senior mgmt, much higher post. Once GH gives approval cc team HAS to give. what happens is cc (variant and cl) is approved by underwriter which are low level employee. They reject 1st time around. Then BM has to resend attaching GH approval . At that moment they have to approve.
By doing this, if the customer defaults, underwriter takes no responsibility. If GH has given approval means, in other ways they have already made more money debt exposure. So no one is bothered.

Pricing approval is given by product team. Again once GH gives approval, they don't stall.

Credit card team told that they used to follow this process but 2-3 months ago they have received circular to stop issuing infinia by this route

 

[Hritaban]

I had provided 1.25 Cr in FD + 3 Cr Term Insurance on the inauguration day of the rural branch. You can try your luck. BM had secured Circle Head approval I have read the email myself but it didn’t work.

Dude, with that amount, highly likely the BM is a dud. Holy smokes. You are the target customer man 🥲

 

[sid16]

It looks like you are a self employed person, so I would strongly suggest you to get an HDFC BizBlack card instead of Infinia. Could be easier to get, and will give you better returns overall.

 

[sid16]

Infinia has marketed itself as the holy grail of credit cards, but it is really, really not. Infinia has become last my 5-6th choice card or even behind that. It is nice to have it, not that big a loss to not have it.

 

[Hritaban]

It looks like you are a self employed person, so I would strongly suggest you to get an HDFC BizBlack card instead of Infinia. Could be easier to get, and will give you better returns overall.

I'm self-employed currently (as I'm waiting in All-India counseling to match in a residency). For next 6 years, at the most highest level, I'll be making ~ 12L-14L annually (if I manage to get super-speciality as well). So, salary route for me, for next 6 years is impossible. So, wanna try some jugads

 

[Hritaban]

Infinia has marketed itself as the holy grail of credit cards, but it is really, really not. Infinia has become last my 5-6th choice card or even behind that. It is nice to have it, not that big a loss to not have it.

I mean, it's the best of both worlds honestly. If I get it, I'll be happy. Or else, it's not a make or break deal. I have some good cashback cards, I'm happy with them. But having infinia is good overall as 2.5k in gst is a easy amount to pay, & while I don't travel much, my mum & dad do, so I can get as add ons and they won't have any issues with lounges n all. Lets see my luck

 

[Hritaban]

I don't think just 10 L fd will get anyone paid dcb or infinia in any hdfc branch rural or urban. The most one can get is Regalia Gold.

This is after recent policy changes done by hdfc.

One needs to have good relationship with BM or give them good business or at least create a mirage showing you will give them good business ( Need good convincing skill ).


Easiest route is patiently increase your existing hdfc credit card limit by manual request if you have income proof & then request for DCB upgrade first. Spend big on it for 6 months then request paid infinia.

To upgrade existing hdfc card to DCB, credit limit should be 5L. To upgrade to infinia, credit limit should be 10L. Some exceptions can be given depending on relationship with bank.

Most likely what you said is true, I have said that in another comment as well. I have almost zero hopes for Infinia, low for DCB LTF. Most likely, I can secure Regalia Gold LTF, so, I wanna atleast try once.

The place where this branch is located is in the middle of a smuggling hub of my state for 'GANJA', sooo, a lot of people have banking relationship in the form of current accounts, to do these illegal transactions, soooo, may be a good legal person with Good capital may become good for them 💀

 

[sidp]

Infinia has marketed itself as the holy grail of credit cards, but it is really, really not.

You mean like Mumbai vada Pao. 🤣

@m4b

 

[pythonlover]

Infinia has marketed itself as the holy grail of credit cards, but it is really, really not. Infinia has become last my 5-6th choice card or even behind that. It is nice to have it, not that big a loss to not have it.

Woah. Which 5 cards do you rank above Infinia? Just curious to know.

 

[sidp]

Credit card team told that they used to follow this process but 2-3 months ago they have received circular to stop issuing infinia by this route

Yes they have stopped against ulip/insurance. (Some people still getting offers though).
But banks don't operate with fixed criteria. Most of the infinnia holders don't satisfy income criteria. They got it through random upgrade or approval method. Like last Yr local municipality chairperson got infinnia. He doesn't satisfy a single criterion. Still he got it. How? He gave a 78cr fd( municipality money, not even under his own name). His trv was 0. If any one from cc team stalls these applications, they'll fire him. Most likely your bm ( & even cluster head) is a dud.

 

[sid16]

Woah. Which 5 cards do you rank above Infinia? Just curious to know.

In no particular order: BizBlack, Swiggy, Magnus Burgundy, AU LIT (features activated), Amex (Plat Travel, Gold, MRCC), Atlas. So Infinia is nice to have since I use the non-spend based benefits. But I don't really spend on it because it gives me lower rewards than the above mentioned cards.