Title: Unwanted Credit Card Offers: Are Credit Bureaus Compromising Our Privacy?

[Ekavya]

Got a call from Babaj Sales Executive. She informed me that based on my credit record (I have 10 Credit Cards) they are providing me a RBL credit card. Had no intention to get it. But I still kept on the conversation hoping it was LTF. She told me special features of that card: " 48 days interest free period", "Cashwithdrawl facility" etc. Suddenly she asked my about my address where I want this card to be delivered. Then after asking she told me it was a paid card (499+gst). So I refused to prolong the conversation but she asked me to reconsider it as they are providing " 48 days interest free period", "Cashwithdrawl facility". Now felt sorry for the lady and hung up the call.

But my question is How can Bajaj get my contact details? Are credit bureaus providing them? And they are proving credit cards only to "Credit worthy" customers. Who already has multiple credit card. Then how can they expect us to take a feature negative card like Bajaj RBL with a membership fees?

 

[Gaara]

Are credit bureaus providing them?

Indeed, credit bureaus do sell our information.
In 2019, I obtained my first credit card, which I didn’t use extensively. However, my involvement with credit cards began in 2023. During this time, I never checked my credit score on any websites. Yet I received calls from IndusInd, RBL, IDFC, and Yes Bank in 2022. Considering this, only two entities could have potentially leaked my data: Kotak, with whom I hold a credit card, and the other credit bureaus.

 

[Gaara]

Now felt sorry for the lady and hung up the call.

You need not feel remorseful on her behalf. Their primary concern lies in achieving sales targets, and they may not genuinely care about you. It is unnecessary to burden ourselves.

 

[indraneal89]

Banks seem to have farmed out the acquisition of credit cards to many third party agencies. I often get calls for an HDFC or ICICI credit card even when I already have one

 

[Ekavya]

only two entities could have potentially leaked my data: Kotak, with whom I hold a credit card, and the other credit bureaus.

That's concerning for CC holders!

 

[Card_Crafter]

Bank employees rarely call for any credit card offers. They will call only if you have relationship with them.

It's mostly the third parties who act as bank employees. Their commission and earnings depends on the sales. So they try to acquire new customer details using their connection and then try to sell the products (CC, PL etc) by hook and by Crook. You won't believe these agencies earn 1000-5000 or even higher per financial product.

If they can sell 1000 CCs in a month that'll most likely fetch them anything between 10 lakh to 50 lakh commission.

 

[Ekavya]

try to sell the products (CC, PL etc) by hook and by Crook. You won't believe these agencies earn 1000-5000 or even higher per financial product.

That's true. Otherwise you just won't't try to convince a person with 10 CCs to get a paid RBL card saying it has a "48 Days No interest period"

 

[Learner]

I applied for a Airtel Axis CC via a new number which was never used on any financial service.
After this, I started receiving 5-7 loan, CC and other spam msgs on that number from next day or two only.
I believe it was either Airtel or Axis who shared the information.

 

[Hemang]

When we click on agree whenever we apply for card, there is a generic term written, bank and its third parties can in any form contact you......... This way they override our DND. But there is a way around. Search for the bank name plus DND. There is a separate dnd page on each bank website. Register on them individually, it is a bit of hassle but definitely number of calls are drastically reduced.