New Pioneer Account and Pioneer Heritage Metal Card Proposal?

[KumarS]

I am looking to open new pioneer banking relationship with Indusind bank, the branch Pioneer RM is saying he will offer the following;

- Pioneer Banking - with Pioneer Mastercard Debit Card (no charges) need to open with Initial cheque of 10L, and need to maintain 30L, can be done over next 1 year.
- Pioneer Heritage Metal Mastercard - One time Fee of 90K+GST Fees, against which he will issue me voucher, he is willing to offer Yatra Voucher, I am asking for Amazon Pay or similar. what is your experience recently on this, and what all can be negotiate to sweeten the deal?

Looking forward for your suggestion. Thanks

 

[KumarS]

Yes they won't downgrade the account, and under slightest chance if it does happen they would still offer a good account such as Exclusive or Grandè. Also, for the vouchers part if you are okay with Yatra vouchers, please read all T&C carefully. Things such as 6 month validity and one time usage of voucher, etc. You may consider Oberoi vouchers too.

I won't want to get it downgrade, one of e guys in branch said if you maintain 30L once in a year that is fine to meet the criteria and then it will fine for one year.

Does anyone knows or verified from their existing RM contacts?

 

[KumarS]

My suggestion would be to skip yatra vouchers , first of all validity is only 6 months
Second you will face hard time redeeming those as most of the time vouchers will not work and you will have to follow up with Yatra

Thanks buddy for this info.

This would be Big risk for me, can we get 100k vouchers in 25k x 4 vouchers? This will solve lot of headache.

I'm not worried about 6 month validity thing, as it will get utilized soon post receiving.

Thanks

 

[aditya128]

Not that much, but definitely had a huge turnover. Also didnt even use my CA fund. Around 10L from 2 months

You received Mastercard or Visa Debit card. I have received VISA but would like to get Mastercard. RM says it's not possible. Is it true?

 

[Vaastav]

Thanks buddy for this info.

This would be Big risk for me, can we get 100k vouchers in 25k x 4 vouchers? This will solve lot of headache.

I'm not worried about 6 month validity thing, as it will get utilized soon post receiving.

Thanks

Are they Giving 100k Single Denomination Yatra Gift Card as The Max I can see on Gyftr is 10k Denomination?? Moreover Yatra Gift Cards are One Time Usable only and balance amount if any gets Lapsed.

 

[KumarS]

Are they Giving 100k Single Denomination Yatra Gift Card as The Max I can see on Gyftr is 10k Denomination?? Moreover Yatra Gift Cards are One Time Usable only and balance amount if any gets Lapsed.

They haven't mentioned anything In detail, I'm still negotiating for LTF, let's see, if they say they can only give voucher, then I will take in smaller denomination., so that I will use the voucher to max and any residual will pay by credit card only

 

[elite34700]

Okay so for opening Pioneer account you need to give initial cheque for 10L and only after the cheque is cleared, your account will be unfreezed as per IndusInd policy. There is no need to maintain any amount in your account as it's a no fee account, only the risk is of downgrading which is very rare to occur. Also, you can apply for a metal debit card for free after you receive your first debit card by placing upgradation request through your RM. You may Click Here for additional information on Pioneer account.

For Pioneer Heritage Metal, if you have an existing IndusInd Bank card with a credit limit of 5L+ then you may upgrade in this card and yes first year fee of 90K + GST for Yatra and non-essential vouchagram vouchers and no annual charges is true, for essential vouchagram max they can provide 15K vouchers as per new policy.

If you do not hold an existing card with them, you need to have a credit card with credit limit of 5L+ with any other bank with which you can apply C2C. If your maximum credit limit is 2-3-4L then apply for a premium IndusInd card like Vistara explorer (negotiate for 10K biz voucher only as joining fees) or Legend/Pinnacle and keep spending on this card, you may even maximize the credit limit (CIBIL may be affected temporarily) for 2-3 months and you can expect a credit limit enhancement from them (only when you are about to complete a year or atleast 6+ months), but during this time you should not avail any other offer such as within/above credit limit loan or convert outstanding to EMI or any other type of credit products like personal/auto/home loan etc.

Keep using it for atleast 2+ years consistently and eventually you would reach your goal.

Trust me this is a tedious process for people having low credit limit and one needs to have immense patience for getting this card. And all the above mentioned details are from my personal experiences from not more than 1-2 months ago. Some factors to be considered are, you need to be on good terms with your RM and for limit increase you shall have a 770+ CIBIL score.

I too am in this struggle right now but very close to my goal. If you do have 5L+ credit limit, then getting this card is the easiest thing unlike Infinia.

All The Best! 👍

I got a LE from 1.25 L to 3 L , 3L to 5L in a period of 8 months with minimum or no spends. All depends on how capable your RM is.

 

[magneto]

I got a LE from 1.25 L to 3 L , 3L to 5L in a period of 8 months with minimum or no spends. All depends on how capable your RM is.

What was the age and variant of your card when you received first limit enhancement? Also, how is your RM helping you for increasing credit limit? Did you provide any income documents? If you can share some way in which this is happening, I can request my RM too. TIA 🙂

 

[elite34700]

What was the age and variant of your card when you received first limit enhancement? Also, how is your RM helping you for increasing credit limit? Did you provide any income documents? If you can share some way in which this is happening, I can request my RM too. TIA 🙂

So if I remember in 2022 June is when I got my legend card with 1.25 limit , post that I had a exclusive account and then a pioneer account. I asked for an indulge card which was like delayed for 2 months and nothing happened coz credit team fucked up. I escalated this very badly and then they realised my limit is only at 1.25 L so they cannot directly give me an indulge. That’s when on priority they raised a LE request and within a day my limit was enhanced to 3L. I used the card for say 4 months with almost zero spends and then wanted to go for indulge but I had different plans coz of my travel abroad and wanted to go for CV explorer. I got the card but before upgrading I negotiated with RM for a LE to 5 L. ( So for every LE I just provided one payslip and competition bank card statement with higher limit ). LE was done within 6 months gap from my last LE of 3 L and right now limit is 5 L. I upgraded to pioneer heritage LTF with one time fee of 100k non essential but I broke the deal of LE to 8 L basis AU excite 2 months statement. So all in all this was the LE journey so far.

 

[KumarS]

So if I remember in 2022 June is when I got my legend card with 1.25 limit , post that I had a exclusive account and then a pioneer account. I asked for an indulge card which was like delayed for 2 months and nothing happened coz credit team fucked up. I escalated this very badly and then they realised my limit is only at 1.25 L so they cannot directly give me an indulge. That’s when on priority they raised a LE request and within a day my limit was enhanced to 3L. I used the card for say 4 months with almost zero spends and then wanted to go for indulge but I had different plans coz of my travel abroad and wanted to go for CV explorer. I got the card but before upgrading I negotiated with RM for a LE to 5 L. ( So for every LE I just provided one payslip and competition bank card statement with higher limit ). LE was done within 6 months gap from my last LE of 3 L and right now limit is 5 L. I upgraded to pioneer heritage LTF with one time fee of 100k non essential but I broke the deal of LE to 8 L basis AU excite 2 months statement. So all in all this was the LE journey so far.

For Pioneer Heritage LTF card against 100k fees what all voucher you got?

 

[tryabp]

You can consider this as well:

https://www.technofino.in/community/threads/indus-grandé-savings-account-discussion.16598/

You can still get Metal Heritage CC along with Free Pinnacle Credit Card.

 

[elite34700]

For Pioneer Heritage LTF card against 100k fees what all voucher you got?

I am yet to get them but i negotiated for non essential category 100%

 

[magneto]

I am yet to get them but i negotiated for non essential category 100%

Can you please share exactly how you negotiated for CL increase? Like can we just quote a number and they accept it? And how do I approach my RM for this thing and what do I say to him? I too upgraded from Legend (DEC22) to CV explorer and have a CL of 2.5L

 

[elite34700]

Can you please share exactly how you negotiated for CL increase? Like can we just quote a number and they accept it? And how do I approach my RM for this thing and what do I say to him? I too upgraded from Legend (DEC22) to CV explorer and have a CL of 2.5L

See I would say its all about negotiation, at the EOD its a sale target for your RM, I directly quote a number say 5L or 8L and he thinks on how to get this done and asks for a competition bank statement along with one month payslip. In your case you should've negotiated for a CL increase before buying the card. Even now say if you are aiming for a pioneer heritage ask him to get the limit enhanced to 5L and tell you would buy the card , he would surely run around to make it happen. Else , if not working out DM me I will put you through my RM to get the LE and pioneer metal.

 

[anirban.choudhuryanirban.choudhury is verified member.]

Can you please share exactly how you negotiated for CL increase? Like can we just quote a number and they accept it? And how do I approach my RM for this thing and what do I say to him? I too upgraded from Legend (DEC22) to CV explorer and have a CL of 2.5L

CL cannot be approved by RM or BM , it goes through underwriter .
So if you request for LE you will need to submit docs there will be a cibil hit and then underwriter will assign you that CL.

 

[KumarS]

CL cannot be approved by RM or BM , it goes through underwriter .
So if you request for LE you will need to submit docs there will be a cibil hit and then underwriter will assign you that CL.

@elite34700

my issue is not credit limit, my existing cards limit are good like mostly above 10L, Infinia, DCB, ICICI, Citi, Axis Magnus among others.

Would be great if you can share, how much you are asked to keep in saving/FD for pioneer Bank account and how many days In a year? I was asked 30L, but it seems it's negotiable, please can someone confirm.

And regarding Heritage Metal Card, how much have you negotiated for voucher for LTF and which voucher you received.

Any other details will be appreciated

 

[elite34700]

N

@elite34700

my issue is not credit limit, my existing cards limit are good like mostly above 10L, Infinia, DCB, ICICI, Citi, Axis Magnus among others.

Would be great if you can share, how much you are asked to keep in saving/FD for pioneer Bank account and how many days In a year? I was asked 30L, but it seems it's negotiable, please can someone confirm.

And regarding Heritage Metal Card, how much have you negotiated for voucher for LTF and which voucher you received.

Any other details will be appreciated

nothing actually. Hardly AQB of 1 lakh , I have a LAP of 50 lakhs with them . Apart from that nothings asked for FD or balances. For pioneer metal I’m getting 1 lakh worth non essential vouchers ( will pick yatra mostly ) and I’m paying 1 lakh fee for a LTF card.

 

[jhanglaniyash]

You received Mastercard or Visa Debit card. I have received VISA but would like to get Mastercard. RM says it's not possible. Is it true?

It's true, bank officials say they have discontinued the MasterCard variant. I requested for MasterCard variant as secondary card that was also denied. I requested for MasterCard as primary that is also denied. After reading this thread i requested for metal debit card i got denied again. Got some new insight that even debit card also has a eligibility. After opening 3 pioneer accounts they have eligibility for metal debit card. I think no one should waste time negotiating with IndusInd. Its a no for everything.

 

[jhanglaniyash]

So if I remember in 2022 June is when I got my legend card with 1.25 limit , post that I had a exclusive account and then a pioneer account. I asked for an indulge card which was like delayed for 2 months and nothing happened coz credit team fucked up. I escalated this very badly and then they realised my limit is only at 1.25 L so they cannot directly give me an indulge. That’s when on priority they raised a LE request and within a day my limit was enhanced to 3L. I used the card for say 4 months with almost zero spends and then wanted to go for indulge but I had different plans coz of my travel abroad and wanted to go for CV explorer. I got the card but before upgrading I negotiated with RM for a LE to 5 L. ( So for every LE I just provided one payslip and competition bank card statement with higher limit ). LE was done within 6 months gap from my last LE of 3 L and right now limit is 5 L. I upgraded to pioneer heritage LTF with one time fee of 100k non essential but I broke the deal of LE to 8 L basis AU excite 2 months statement. So all in all this was the LE journey so far.

For LE c2c i didnt had to make any deal. I just requested my RM for LE. They asked me for 3 months statement and front pic of card thats it. No upgrading or any drama

 

[jhanglaniyash]

If anyone can help me with IndusInd metal DC/ RM/ Escalation. Please Let me know! Thanks

 

[jhanglaniyash]

CL cannot be approved by RM or BM , it goes through underwriter .
So if you request for LE you will need to submit docs there will be a cibil hit and then underwriter will assign you that CL.

But overall question is, is the card worth the fee? They dont negotiate for nothing. I have banged my head but they are very pathetic. Small stuff like RM Change takes more than a month. Account opening took 2 months. Went through every Escalation channels, met all the eligibilities, gave the cheque of the amount demanded by the bank.