Should we switch from HDFC Infinia Metal to ICICI Emeralde Private Metal ?

[theXfactor]

Not applicable for TB i think.

But the then issue is add on card fee itself is 3500+taxes. Someone like me will think twice before having the add on issued on TB if I don’t genuinely need it. 😁

 

[Dobbiee]

But the then issue is add on card fee itself is 3500+taxes. Someone like me will think twice before having the add on issued on TB if I don’t genuinely need it. 😁

Dont think TB add-on card has any benefit other than lounge access.
And to recover 3500 + Taxes, one would need atleast 10 lounge usages.

 

[CreditMaster]

Is it worth trying for EPM if one holds a HDFC Infinia Plastic LTF?
Can easily meet salary criteria of 3lac+ and can also shift to ICICI Salary account if required.
Also currently holds ICICI Saphirro Dual Variant LTF with 6lac+ limit
Any advice?

Update: I got the ICICI EPM in 4 days

 

[Dobbiee]

Update: I got the ICICI EPM in 4 days

Do share the factors that worked in your favour to get EPM.

 

[CreditMaster]

Process followed:

1. Approached Corporate RM on 27th March for EPM against transfer of salary account. Submitted last 2 months salary slips along with email request to upgrade to EPM

2. RM came back on 28th March with in-principle approval with condition of moving the salary account to ICICI Wealth

3. Wealth account opened with local branch person visiting home on same day i.e. 28th March. Account activated EOD.

4. Corporate RM processed EPM application on 29th March

5. 30th March EPM card was showing in ICICI iMobile app

6. Card dispatched on 1st April and received next day on 2nd April.

7. Card application to receipt of Card - in approx. 4 days



There could be various factors that helped here like March ending, existing Infinia credit card with high limit, 3L+ salary and some luck.



Hope this helps!!!

 

[abhiaj_geek]

But the then issue is add on card fee itself is 3500+taxes. Someone like me will think twice before having the add on issued on TB if I don’t genuinely need it. 😁

Too much!!

Dont think TB add-on card has any benefit other than lounge access.
And to recover 3500 + Taxes, one would need atleast 10 lounge usages.

Process followed:

1. Approached Corporate RM on 27th March for EPM against transfer of salary account. Submitted last 2 months salary slips along with email request to upgrade to EPM

2. RM came back on 28th March with in-principle approval with condition of moving the salary account to ICICI Wealth

3. Wealth account opened with local branch person visiting home on same day i.e. 28th March. Account activated EOD.

4. Corporate RM processed EPM application on 29th March

5. 30th March EPM card was showing in ICICI iMobile app

6. Card dispatched on 1st April and received next day on 2nd April.

7. Card application to receipt of Card - in approx. 4 days



There could be various factors that helped here like March ending, existing Infinia credit card with high limit, 3L+ salary and some luck.



Hope this helps!!!

I think its 3L salary and luck. We have too many examples of people getting epm based on these two.
Which raises the point that if you have 3L salary you will get epm sooner or later

 

[kvndsz512]

Without salary of 3Lpm, I am not sure they would be able to get the approval even with deposits.

With the required salary I think it becomes a matter of willingness of BM.

not sure about now but earlier it was possible with lesser salary also just needed approvals mainly.. for approvals it depends on the bm totally what he writes and how he gets the approvals from higher ppl

 

[theXfactor]

Too much!!




I think its 3L salary and luck. We have too many examples of people getting epm based on these two.
Which raises the point that if you have 3L salary you will get epm sooner or later

In order for someone to have a net of 3L, gross must be about 4-5L/mon depending on the deductions, ESPP etc. which is a pretty handsome salary and also shows person’s spending potential. I don’t see a reason why would bank not approve such cards for these kind of folks unless something else is messed up like CIBIL, prior relationship or a clueless RM

 

[Dobbiee]

In order for someone to have a net of 3L, gross must be about 4-5L/mon depending on the deductions, ESPP etc. which is a pretty handsome salary and also shows person’s spending potential. I don’t see a reason why would bank not approve such cards for these kind of folks unless something else is messed up like CIBIL, prior relationship or a clueless RM

There is another Xtra Factor that works here - people with such high salary would be in middle or senior management depending on corporate type (big, medium, Indian, MNC). Such people are also well educated and successful. They would have influence on lot of other people and they are also the ones that play important role in driving the economy.
Associating with them is always useful to banks.

 

[Dobbiee]

There is another Xtra Factor that works here - people with such high salary would be in middle or senior management depending on corporate type (big, medium, Indian, MNC). Such people are also well educated and successful. They would have influence on lot of other people and they are also the ones that play important role in driving the economy.
Associating with them is always useful to banks.

Also to see is bank makes loss per customer with higher spends on EPM. But thats the luring factor to bring them and stick them to their business.

At an overall level, don't think they make loss. The money they make from lower variant cards (which are large in numbers), they pass some of this money to higher variant cards (which are few in number).

 

[Gkcards]

After ICICI emeralde private metal has announced 36% valueback against 33% of Infinia , should one think of switching to ICICI ecosystem now ? I already have infinia and eligible for emeralde private metal

For people who dont know about this new announcement, More details about 36% valueback on hotel bookings through new ishop portal can be found at https://www.technofino.in/community...s-portal-launched-upto-36-reward-rate-.37913/

why not keep both if your spends allow

 

[EverybodyEverybody is verified member.]

A BIG NO. AFTER WHAT HAPPENED.

CC: @kuchbhi

 

[Bhokaal]

A BIG NO. AFTER WHAT HAPPENED.

CC: @kuchbhi

Did I miss some more devaluation news? What happened?

 

[aniketkr.sharma]

Did I miss some more devaluation news? What happened?

Yes convenience fee with ishop

 

[Zohaib]

They told me 10lk initial and I said yes since I had the funds anyway. You also get bonus brokerage with icici direct. It is capped upto 4000 upon cheque of 4lk and above I believe. You get 1% of the value of cheque in brokerage.

Hello @Pissant , you mean you got reduced brokerage from ICICI Direct. If yes, can you please share the brokerage rate you got.

 

[Pissant]

Hello @Pissant , you mean you got reduced brokerage from ICICI Direct. If yes, can you please share the brokerage rate you got.

brokerage rate is 0.1 and 0.01

 

[rj_arora]

But the then issue is add on card fee itself is 3500+taxes. Someone like me will think twice before having the add on issued on TB if I don’t genuinely need it. 😁

EPM add on is free, right?

 

[theXfactor]

EPM add on is free, right?

Yes as per their MITC

https://www.icicibank.com/content/dam/icicibank/india/managed-assets/revamp-page-images/docs/pdf/mitc_cc.pdf