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Pre-Approved LTF Rubyx Credit Card
- Thread starter sumitkr85
- Start date
Souvik
TF Premier
Been through the link, there is nothing to be too excited about ICICI Wealth, correct me if I am wrong !
Batmanbaba
TF Legend
Y
YEs you will be a golden goose for the rm.... He wil try every possible way to suck investment out of you thinking you are a wealth customer....
Souvik
TF Premier
Absolutely, all the Preferred programs across banks are targeted for cross selling, but I wonder what can be the incentive for going for a wealth program with ICICI Bank, without being too rude let me recall, someone in the forum told me sometime back that ICICI is borderline scam too 🙂 and I agree with that statement, no integrity with them
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Just open a savings account with them with an initial funding equivalent to a Wealth Savings Account without investing in any of the mutual funds & ask them for a Life Time Free Emeralde Credit Card.
This combination will be a hard choice for them.
Souvik
TF Premier
Oh I see, this can be a good proposition for someone who has made up their mind for a ICICI Wealth account,
but is the LTF Emeralde guaranteed with the hassles of opening a Wealth account with ICICI, I do not think so, its still at the bank's discretion and depends upon how the branch can conceive it.
Exactly, that's where the negotiation comes.
Opening one Wealth account with the initial funding for a BM is having an incentive for a whole year.
At the same time giving out an Emeralde on LTF pricing also like getting an approval of Vice President, Credit Card division.
So together both of these is a deadly combination which would be a hard choice for any BM to accept or deny.
Souvik
TF Premier
Agreed it can be a very tough choice, if you have any such BM references (whom you know can get this done), please share it here for the greater audience who would be willing to open a Wealth account for x reasons.
My risk appetite is not that great to hand over 25L to ICICI Bank people 😀 .
Man I'm a kind hunter when it comes to suck out maximum benefit out of a Private Bank.
So here the plan goes if somebody has 25L cash for 10-15 days at least:-
1. You go to Branch & negotiate with a RM/BM to go for this combination(LTF Emeralde along with Wealth).
2. Get the confirmation in writing that you will be given LTF Emeralde.
3. Put the money in bank till the time you get the card & after one month downgrade the account showing some personal reasons.
No bank in India can force you to keep the same account variant even if you are not capable enough according to the RBI Guidelines.
So once the downgrade is done then take out all the money you had, just keep the minimum balance in the account which is not supposed to be over 10K.
But once you got Emeralde LTF which means "Life Time Free" no body can charge you back or convert the card in to a chargeable one since that is against the RBI Policy issued in April, 2022. Showing this reason I managed to get my Yes First Exclusive on LTF even though I'm not eligible person.
So relax & enjoy your LTF Emeralde if you have 25L for a month!!! 😎 😎 😎 😎 😎
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Souvik
TF Premier
That's a semi-heist, would like to see it happen someday in practice, especially with an entity like ICICI Bank. 😉
I won't deny, yes sometimes I'm that kind of a person specially when it comes to get some benefit from a bank.
So the bank people who knows me generally doesn't negotiate with these things since they know that sometimes I'm even better than a banker to show them the loopholes of their own rules.
Unfortunately I don't have that much cash with me, otherwise I would have definitely tried once.
On top of everything please note that the Banks are run by our money.
Literally everything starting from Electricity Bill up to a glass of water is being bought using our money & but due to our own negligence & Financial illiteracy they always take upper hand on general public which they should not do at all.
Correct, that person is from Mumbai if I'm not mistaken.
Finally got Sapphiro LTF offer today. I had ignored Rubyx LTF before.. So it was worth the wait
Congratulations!!!
But I don't think Sapphiro is worth considering a Wealth Account with them.
I strongly suggest that you should not take that one & start the argument with them for Emeralde LTF.
Sapphiro can be gotten LTF within a normal account as well if the transaction is on the Higher side.
Now decision is yours' whether you should settle down with it.
But I don't think Sapphiro is worth considering a Wealth Account with them.
I strongly suggest that you should not take that one & start the argument with them for Emeralde LTF.
Sapphiro can be gotten LTF within a normal account as well if the transaction is on the Higher side.
Now decision is yours' whether you should settle down with it.
Souvik
TF Premier
He already has opened a Wealth account without any written affirmation for Emeralde i guess, what do you want him to do now, threaten ICICI/BM to close the wealth account if not given a Emeralde LTF, sweet talk well may not work with ICICI ?
Exactly as you said,
If one Wealth account is closed & the BM is not able to handle, then that may come on his job as well.
Therefore, for a BM to take a yearly charge of 10,000+GST on his own branch is fairly easy rather than closing a Wealth account just for this amount of money which would be equivalent to an Electricity Bill per month for one AC running inside the branch.
Again it depends on somebody's Negotiation skill & how much informative he is regarding a particular Product of that entity.
For now, I will stick with this, Is there only one card Limit with Icici? or in future, I can request for an upgrade.. My biggest problem is. I am able to visit my branch, as I am still working from home.
Souvik
TF Premier
I would have loved to see if threats like that would have worked, but looks like @sumitkr85 has decided to go with whatever is in hand.
Also this threatening maybe well more effective in rural and semi-urban setups, in proper urban setups there would be many wealth accounts and BM may not care so much.
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