Should I close my FD card?

[me_sovon]

I have been seeking a credit card from Axis Bank, but I have faced multiple rejections: twice for the Flipkart Axis card and twice for the MyZone credit card. I suspect that my second MyZone application was declined due to the short interval between the two applications.

During my most recent application for the MyZone credit card, a physical KYC was conducted, during which the agent suggested that I open a library account. Consequently, I now also hold a savings account with Axis Bank.

Following the rejection, I received a call from my branch advising me to consider a fixed deposit (FD) based credit card and to maintain this card for at least three months.

As I approach the end of this three-month period, I have several questions:

1. Should I close the card?
2. Should I keep it for a few more months to potentially qualify for a pre-approved offer for an unsecured card?
3. Does the pre-approved offer depend on the FD card?

My current CIBIL score is 781, and I have three unsecured credit cards.

 

[praful47]

I have been seeking a credit card from Axis Bank, but I have faced multiple rejections: twice for the Flipkart Axis card and twice for the MyZone credit card. I suspect that my second MyZone application was declined due to the short interval between the two applications.

During my most recent application for the MyZone credit card, a physical KYC was conducted, during which the agent suggested that I open a library account. Consequently, I now also hold a savings account with Axis Bank.

Following the rejection, I received a call from my branch advising me to consider a fixed deposit (FD) based credit card and to maintain this card for at least three months.

As I approach the end of this three-month period, I have several questions:

1. Should I close the card?
2. Should I keep it for a few more months to potentially qualify for a pre-approved offer for an unsecured card?
3. Does the pre-approved offer depend on the FD card?

My current CIBIL score is 781, and I have three unsecured credit cards.

Firstly , you need to find out why your applications are getting rejected.

 

[me_sovon]

Firstly , you need to find out why your applications are getting rejected.

I mailed them atleast 4 times, same reply " internal policies "

 

[harsh_ujjwal]

FD card does not guarantee you a pre-approved card. In 2018 i bought ICICI FD card. Till 2021 i didn't receive any pre-approved offer. I had lesser no of txn's in ICICI a/c.
Pre-approved offer depends on how you use your a/c n debit card. Viz. for purchases

 

[praful47]

I mailed them atleast 4 times, same reply " internal policies "

Did you try twitter ?

 

[bing1309]

Fd card owned by my brother for more than 1 year and limit of fd is 1l and having burgundy account still no pre approved offer with a cibil score of 800 it totally depends
My wife with burgundy account with fd of 56k got a cc and after 6 months got pre approved offer for Select with limit of 2.57l where her cibil was 0 and now before getting pre approved cc it was 750. It totally depends and nothing can be said.

 

[me_sovon]

Did you try twitter ?

Yes, same answer, they called me and told me the same

 

[me_sovon]

Fd card owned by my brother for more than 1 year and limit of fd is 1l and having burgundy account still no pre approved offer with a cibil score of 800 it totally depends
My wife with burgundy account with fd of 56k got a cc and after 6 months got pre approved offer for Select with limit of 2.57l where her cibil was 0 and now before getting pre approved cc it was 750. It totally depends and nothing can be said.

How many transactions did your wife approximately?

 

[me_sovon]

FD card does not guarantee you a pre-approved card. In 2018 i bought ICICI FD card. Till 2021 i didn't receive any pre-approved offer. I had lesser no of txn's in ICICI a/c.
Pre-approved offer depends on how you use your a/c n debit card. Viz. for purchases

Fd card owned by my brother for more than 1 year and limit of fd is 1l and having burgundy account still no pre approved offer with a cibil score of 800 it totally depends
My wife with burgundy account with fd of 56k got a cc and after 6 months got pre approved offer for Select with limit of 2.57l where her cibil was 0 and now before getting pre approved cc it was 750. It totally depends and nothing can be said.

So it's better to close the FD?

 

[bing1309]

How many transactions did your wife approximately?

Nothing just basic 2k 3k 5k sometimes 10k

 

[hender]

Nothing just basic 2k 3k 5k sometimes 10k

It's Burgundy family account?

 

[bing1309]

It's Burgundy family account?

Nope individual acc