Retired HNI not getting a card

[nandieux]

Folks. I’m 57 and decided to hang up my boots since I became financially independent. Now with a steady SWP and rental income I’m looking for a premium card and keep getting rejected. CIBIL is 790. No loans / debt. Current card credit usage is ~80% (axis horizon limit is 4.5L). Have never missed a payment but had a 20 year dispute with icici on a credit card - which somehow does not show in CIBIL any more.

Any tips / help would be appreciated

Context - I was Citibank and my wife was on Axis. But now with the takeover our credit limits have been xombined. I don’t feel safe having all my CC eggs in one basket. Have an Amex platinum travel which I don’t use and Amex also does not upgrade me.

 

[vaibhav111vaibhav111 is verified member.]

Folks. I’m 57 and decided to hang up my boots since I became financially independent. Now with a steady SWP and rental income I’m looking for a premium card and keep getting rejected. CIBIL is 790. No loans / debt. Current card credit usage is ~80% (axis horizon limit is 4.5L). Have never missed a payment but had a 20 year dispute with icici on a credit card - which somehow does not show in CIBIL any more.

Any tips / help would be appreciated

Context - I was Citibank and my wife was on Axis. But now with the takeover our credit limits have been xombined. I don’t feel safe having all my CC eggs in one basket. Have an Amex platinum travel which I don’t use and Amex also does not upgrade me.

hello sir, which bank rejected your cc application? so your credit history is 20+..so if you SB/Current Account in any private bank apply through pre-approved offer.

 

[Kumar93196]

Folks. I’m 57 and decided to hang up my boots since I became financially independent. Now with a steady SWP and rental income I’m looking for a premium card and keep getting rejected. CIBIL is 790. No loans / debt. Current card credit usage is ~80% (axis horizon limit is 4.5L). Have never missed a payment but had a 20 year dispute with icici on a credit card - which somehow does not show in CIBIL any more.

Any tips / help would be appreciated

Context - I was Citibank and my wife was on Axis. But now with the takeover our credit limits have been xombined. I don’t feel safe having all my CC eggs in one basket. Have an Amex platinum travel which I don’t use and Amex also does not upgrade me.

In your case age might be the issue.

 

[Riya Sharma]

Go to the nearest HDFC Branch near you with the highest initial cheque you can muster up. Negotiate with the Brank Manager for a credit card and open up an Imperial/Speciale Platinum Account.

 

[KLB@96]

Pre approved with your savings bank account , speak with RM and try

 

[alwayswin69]

Try axis atlas via C2C route, Axis is very lenient when it comes to age being the eligibility criteria (upper limit is 70 years afaik) also employment shouldn't be an issue since you already have a cc with them

 

[RAMESH BABU N]

In your case age might be the issue.

Age is NOT an issue. Almost all banks give fresh CCs till 60 and some till 65. I got most of my current CCs after I turned 60.

 

[Dazzwilliams]

What's your current source of income and how much?

I became financially independent. Now with a steady SWP and rental income

 

[nandieux]

What's your current source of income and how much?

SWP from my MF corpus. And rental income. Total 5L a month split 50% each

 

[nandieux]

Try axis atlas via C2C route, Axis is very lenient when it comes to age being the eligibility criteria (upper limit is 70 years afaik) also employment shouldn't be an issue since you already have a cc with them

Axis is the bank I don’t want. All my credit limit is with them which means if I want to boot them out I can’t

 

[nandieux]

hello sir, which bank rejected your cc application? so your credit history is 20+..so if you SB/Current Account in any private bank apply through pre-approved offer.

Every bank (when I apply online and give my PAN number). HDfC. Amex. IndusInd. IDFC (where also I am a wealth client). To name a few

 

[nandieux]

Go to the nearest HDFC Branch near you with the highest initial cheque you can muster up. Negotiate with the Brank Manager for a credit card and open up an Imperial/Speciale Platinum Account.

My RM only doesn’t respond!!

 

[Dazzwilliams]

SWP from my MF corpus. And rental income. Total 5L a month split 50% each

Do you have requisite documents to prove that income? ITR or something?

 

[nandieux]

Do you have requisite documents to prove that income? ITR or something?

Well - I stopped working in March of 2023 and lots of my bonuses and other residual income came in 2023-24 tax year. So as per ITR it is huge.... 2024-25 ITR will be more modest since it will mostly be rental income and capital gains

 

[_amit_]

Every bank (when I apply online and give my PAN number). HDfC. Amex. IndusInd. IDFC (where also I am a wealth client). To name a few

IDFC rejected the CC application with wealth is interesting.

It seems that even with Savings HNI account it has not been working.

Have you tried with HSBC? In case not, maybe connect with them. They should be able to give the card with a savings account.
You can also try BoB. For better chances, get into Radiance program for a while and I think Eterna LTF should be relatively easy, but be wary of BM.
Do have a prior discussion with BMs in case going this route.

As application route has failed, I guess having one card approved somehow should help in next applications and HSBC and BoB might be worth a try via savings account route.

 

[nandieux]

IDFC rejected the CC application with wealth is interesting.

It seems that even with Savings HNI account it has not been working.

Have you tried with HSBC? In case not, maybe connect with them. They should be able to give the card with a savings account.
You can also try BoB. For better chances, get into Radiance program for a while and I think Eterna LTF should be relatively easy, but be wary of BM.
Do have a prior discussion with BMs in case going this route.

As application route has failed, I guess having one card approved somehow should help in next applications and HSBC and BoB might be worth a try via savings account route.

OK, let me try HSBC then. Will report back once I know

 

[RAMESH BABU N]

OK, let me try HSBC then. Will report back once I know

HSBC will give fresh cards only for salaried class. Retired, Pensioners or self-employed must have banking relationships with them to be considered for cards.

 

[jk51]

Folks. I’m 57 and decided to hang up my boots since I became financially independent. Now with a steady SWP and rental income I’m looking for a premium card and keep getting rejected. CIBIL is 790. No loans / debt. Current card credit usage is ~80% (axis horizon limit is 4.5L). Have never missed a payment but had a 20 year dispute with icici on a credit card - which somehow does not show in CIBIL any more.

Any tips / help would be appreciated

Context - I was Citibank and my wife was on Axis. But now with the takeover our credit limits have been xombined. I don’t feel safe having all my CC eggs in one basket. Have an Amex platinum travel which I don’t use and Amex also does not upgrade me.

Not a first choice option but worth a try. Apply for Inifinia at HDFC through NRV/FD/ULIP route. Once you are able to negotiate for it and obtain the same apply for other cards through C2C route using that. Hardly any other card should get turned down if it’s applied basis Infinia I guess (no doubt other factors are also in play still)

 

[vine]

but had a 20 year dispute with icici on a credit card - which somehow does not show in CIBIL any more.

holdup🤔
You had a 20 year long dispute with ICICI!
This calls for a separate (& a very very long) post.
Please do post about it, if you are ok with it.

 

[_amit_]

OK, let me try HSBC then. Will report back once I know

In case everything fails, one can always almost have a secured credit card.