Title: Should I Close My HDFC MoneyBack Card or Upgrade?

[siddarthreddy]

Hi everyone, I need your advice regarding my credit card situation. Here's the context:

1. HDFC MoneyBack Card:

It’s a lifetime free card, but the offers are very limited.

My current credit limit is only ₹25,000, despite my salary being ₹40,000/month (I was told I’d get ₹50,000+ initially).

I’ve been requesting an increase in the credit limit for months, but HDFC hasn’t responded positively.

Due to the low limit, I tend to overuse it, which impacts my credit utilization ratio.

They keep calling me 10 times a day for pre-approved loans (Jumbo/Personal), but when I ask about the limit increase, they ignore it.

My salary account is also with HDFC, but I’m not seeing any benefits.

2. AXIS Bank Credit Card:

My current limit is ₹35,000.

I don’t use this card much, but I’m considering asking for an upgrade to the Flipkart Axis Card for better rewards and benefits.

My Questions:

Should I close my HDFC MoneyBack card since they aren’t cooperating?

Should I also move my salary account from HDFC to another bank with better benefits and service?

Is it worth upgrading my Axis card to Flipkart Axis Card?

Are there any better credit cards you’d suggest for someone with a ₹40,000 salary?
Looking forward to your suggestions. Thanks!

 

[Anindya98]

Your Salary is not the issue based on both of your cards' limits I think you recently got a credit card and you don't have prior credit history. correct me if I am wrong. The bank can't rely on you with a higher credit limit as they don't know your repayment history. Try to use the card under 30% utilization of your total limit and build a solid credit history then apply for ICICI cards as they tend to provide high limits. After building a 6-9 months credit history send your last 3 months Salary Slip for limit increment in HDFC & Axis, they will increase it based on your profile or usage pattern.

Hi everyone, I need your advice regarding my credit card situation. Here's the context:

1. HDFC MoneyBack Card:

It’s a lifetime free card, but the offers are very limited.

My current credit limit is only ₹25,000, despite my salary being ₹40,000/month (I was told I’d get ₹50,000+ initially).

I’ve been requesting an increase in the credit limit for months, but HDFC hasn’t responded positively.

Due to the low limit, I tend to overuse it, which impacts my credit utilization ratio.

They keep calling me 10 times a day for pre-approved loans (Jumbo/Personal), but when I ask about the limit increase, they ignore it.

My salary account is also with HDFC, but I’m not seeing any benefits.

2. AXIS Bank Credit Card:

My current limit is ₹35,000.

I don’t use this card much, but I’m considering asking for an upgrade to the Flipkart Axis Card for better rewards and benefits.

My Questions:

Should I close my HDFC MoneyBack card since they aren’t cooperating?

Should I also move my salary account from HDFC to another bank with better benefits and service?

Is it worth upgrading my Axis card to Flipkart Axis Card?

Are there any better credit cards you’d suggest for someone with a ₹40,000 salary?
Looking forward to your suggestions. Thanks!

 

[Ram1]

Yes I suggest you to close moneyback and apply milennia credit card directly after 1month.
You will get surely above 50k.
Practically there's no cooling period for hdfc

 

[Ram1]

Yes I suggest you to close moneyback and apply milennia credit card directly after 1month.
You will get surely above 50k.
Practically there's no cooling period for hdfc

Also i suggest you not to chase after LTF.
Paid millennia is 100 times better than ltf basic hdfc cards.
Initial limit also depends on the variant you apply. Choose wisely

 

[Anindya98]

Yes I suggest you to close moneyback and apply milennia credit card directly after 1month.

I don't think it will be helpful for him.

You will get surely above 50k.
Practically there's no cooling period for hdfc

He needs to build a history and I think Moneyback is his first credit card so his credit score will take a hit and he will lose the existing history.

 

[Ram1]

I don't think it will be helpful for him.

He needs to build a history and I think Moneyback is his first credit card so his credit score will take a hit and he will lose the existing history.

Its understandable but his main worry is juat 25k limit. Its hard to manage such low limit, his credit score gets affected badly due to usage.
Better to let it go, Hdfc doesn't entertain manual LEs much.
If gaining cibil score is important, then I suggest any cheaper secured card from 3rd party like onescore

 

[Ram1]

Hi everyone, I need your advice regarding my credit card situation. Here's the context:

1. HDFC MoneyBack Card:

It’s a lifetime free card, but the offers are very limited.

My current credit limit is only ₹25,000, despite my salary being ₹40,000/month (I was told I’d get ₹50,000+ initially).

I’ve been requesting an increase in the credit limit for months, but HDFC hasn’t responded positively.

Due to the low limit, I tend to overuse it, which impacts my credit utilization ratio.

They keep calling me 10 times a day for pre-approved loans (Jumbo/Personal), but when I ask about the limit increase, they ignore it.

My salary account is also with HDFC, but I’m not seeing any benefits.

2. AXIS Bank Credit Card:

My current limit is ₹35,000.

I don’t use this card much, but I’m considering asking for an upgrade to the Flipkart Axis Card for better rewards and benefits.

My Questions:

Should I close my HDFC MoneyBack card since they aren’t cooperating?

Should I also move my salary account from HDFC to another bank with better benefits and service?

Is it worth upgrading my Axis card to Flipkart Axis Card?

Are there any better credit cards you’d suggest for someone with a ₹40,000 salary?
Looking forward to your suggestions. Thanks!

It would be great if u can share age of ur both cards and present cibil score. So that people can give detailed insights

 

[Umang85]

It would be best to swipe the card and pay off on the same day. That will keep the credit utilisation ratio in check. Also will help build some sort of a credit history.
Don't close the cashback card.
But keep checking for upgrades to Millenia rather than closing and applying.

 

[hedgehog2122]

It's a patience game with HDFC based on my personal account experience. Limit enhancements are now very limited by all the banks, especially with risk individuals

 

[siddarthreddy]

Yes I suggest you to close moneyback and apply milennia credit card directly after 1month.
You will get surely above 50k.
Practically there's no cooling period for hdfc

Thank you so much but my concern is money-back is my first credit card so if I close, it will effect my cibil score?

 

[siddarthreddy]

Your Salary is not the issue based on both of your cards' limits I think you recently got a credit card and you don't have prior credit history. correct me if I am wrong. The bank can't rely on you with a higher credit limit as they don't know your repayment history. Try to use the card under 30% utilization of your total limit and build a solid credit history then apply for ICICI cards as they tend to provide high limits. After building a 6-9 months credit history send your last 3 months Salary Slip for limit increment in HDFC & Axis, they will increase it based on your profile or usage pattern.

Your Salary is not the issue based on both of your cards' limits I think you recently got a credit card and you don't have prior credit history. correct me if I am wrong. The bank can't rely on you with a higher credit limit as they don't know your repayment history. Try to use the card under 30% utilization of your total limit and build a solid credit history then apply for ICICI cards as they tend to provide high limits. After building a 6-9 months credit history send your last 3 months Salary Slip for limit increment in HDFC & Axis, they will increase it based on your profile or usage pattern.

Thank you 😊

 

[siddarthreddy]

It would be great if u can share age of ur both cards and present cibil score. So that people can give detailed insights

My age 25 and cibil is around 760

 

[Umang85]

Thank you so much but my concern is money-back is my first credit card so if I close, it will effect my cibil score?

Yes, it will affect your cibil score.

 

[telescope]

Hi everyone, I need your advice regarding my credit card situation. Here's the context:

1. HDFC MoneyBack Card:

It’s a lifetime free card, but the offers are very limited.

My current credit limit is only ₹25,000, despite my salary being ₹40,000/month (I was told I’d get ₹50,000+ initially).

I’ve been requesting an increase in the credit limit for months, but HDFC hasn’t responded positively.

Due to the low limit, I tend to overuse it, which impacts my credit utilization ratio.

They keep calling me 10 times a day for pre-approved loans (Jumbo/Personal), but when I ask about the limit increase, they ignore it.

My salary account is also with HDFC, but I’m not seeing any benefits.

2. AXIS Bank Credit Card:

My current limit is ₹35,000.

I don’t use this card much, but I’m considering asking for an upgrade to the Flipkart Axis Card for better rewards and benefits.

My Questions:

Should I close my HDFC MoneyBack card since they aren’t cooperating?

Should I also move my salary account from HDFC to another bank with better benefits and service?

Is it worth upgrading my Axis card to Flipkart Axis Card?

Are there any better credit cards you’d suggest for someone with a ₹40,000 salary?
Looking forward to your suggestions. Thanks!

Most probably your credit history is not that old so that's why you are getting small limit. Credit limit increases gradually with time. 10 years ago I got my first unsecured cc hdfc money back with a tiny limit. Since then I got several limit enhancements and upgrades, now have 10 times the initial limit and regalia cc.

I would suggest you to apply for sbi cashback cc, as in future when you will have more cc, sbi might reject you as overleveraged. So get a sbi cc early into your cc journey.

 

[Ram1]

My age 25 and cibil is around 760

I asked age of ur both cards yar

 

[hitirfan]

I got limit enhancement on HDFC CC with Salary Slips after 5 months of use by email Grievance Team. &
Axis CC after 3 months by emailing them salary slip of last 3 months.

 

[Anindya98]

Thank you so much but my concern is money-back is my first credit card so if I close, it will effect my cibil score?

Yes

I would suggest you to apply for sbi cashback cc, as in future when you will have more cc, sbi might reject you as overleveraged. So get a sbi cc early into your cc journey.

Great suggestion, you should get the SBI CB. I would suggest you do the same after a few months.

 

[Anindya98]

I got limit enhancement on HDFC CC with Salary Slips after 5 months of use by email Grievance Team. &
Axis CC after 3 months by emailing them salary slip of last 3 months.

Once you get the LE via this route it is tough to get auto LE in the future. That's why I avoid it.

 

[Ram1]

Once you get the LE via this route it is tough to get auto LE in the future. That's why I avoid it.

Why? There's no rule like that. Hdfc LEs are completely random. Only cooling period is there which is 3 months

 

[Anindya98]

Why? There's no rule like that. Hdfc LEs are completely random. Only cooling period is there which is 3 months

When you get manual LE, it is tough to get auto LE from the Bank. I have experience with Axis and IndusInd on my father's card. After Manual LE in Axis, after 3 months of getting the card, they increased the limit from 15K to 1.85L. Almost 1 year later, I got a + 1.15L auto LE offer. Indusind rejected my dad's second LE after sending the documents a second time, saying you have the maximum limit.