Regalia Gold Upgrade from HDFC Regalia Gold to DCB

[kirikumar47]

I got upgraded from Regalia First (LTF) to Regalia Gold (FYF) earlier this year (March'24), have spent close to 2 lakhs as of June

I emailed bank if there is a chance for Infinia, which obviously they declined and on the same email I requested if they could "atleast" convert my card to LTF and my wish was granted

Now the card is LTF.

Since the card is LTF , I have spent another 4 lakhs (not great rewards in comparison to Diners Club black (PVC or Metal) or Infinia)

These are necessary spends and nothing forced

TLDR -- so far spent 6 lakhs and might spend another 2 before end of this year. What are my chances getting DCB plastic or Metal? Will I get an upgrade in net banking portal or do I have to reach out to someone?

Current cash limit -- 6.94 Lakhs INR

I want to hear from people who have successfully Upgraded to DCB or Infinia?

 

[kpdjk]

My wife does not fit the eligibility for Regalia Gold. But she has FD which can be shifted to HDFC to take a card against lein. We can easily spend 5lakhs in the first 6 months (mostly on utilities though).

Is it possible to ask for an upgrade to unsecured DCB against spends on a secured RegaliaGold? Also, does it affect the upgrade decision if most of the spends are in low MDR category like utilities?

 

[TheCoinCollector]

On a related note, I think you may want to not take the fd route at all due to its opportunity cost.
They would ask for FD of around 6 Lakhs.
Let's say FD gives same rate as PPF/NPS i.e. approx.7.5 - 8%. You will be paying around 2.4% tax (8 x 30%) on the fd interest for the first 6 months for RG. Then you will be paying 11800 for DCB AF.
So effectively you have already paid
7200 which is 600,000 x 2.4% while holding the RG for first 6 months
+
14400 which is 600,000 x 2.4% for the next full year while holding DCB
+
11800 which is AF of DCB
Total 33400 for this route instead of parking that 600,000 in tax free PPF!

If you think you will be net positive after this 33400 then you may want to think of this route.

Also, the money is blocked till you have the card. When you want it back, breaking the fd in between while closing the card will cost you 1% penal rate.

Someone can correct my math/calculation here please.

 

[kpdjk]

On a related note, I think you may want to not take the fd route at all due to its opportunity cost.
They would ask for FD of around 6 Lakhs.
Let's say FD gives same rate as PPF/NPS i.e. approx.7.5 - 8%. You will be paying around 2.4% tax (8 x 30%) on the fd interest for the first 6 months for RG. Then you will be paying 11800 for DCB AF.
So effectively you have already paid
7200 which is 600,000 x 2.4% while holding the RG for first 6 months
+
14400 which is 600,000 x 2.4% for the next full year while holding DCB
+
11800 which is AF of DCB
Total 33400 for this route instead of parking that 600,000 in tax free PPF!

If you think you will be net positive after this 33400 then you may want to think of this route.

Also, the money is blocked till you have the card. When you want it back, breaking the fd in between while closing the card will cost you 1% penal rate.

Someone can correct my math/calculation here please.

In my case, the FD is already there. Just need to shift.