Your First Credit Card Story - How did you get your first credit card?

[TechnoFino]

Hello every,
The first credit card is special for everyone. We all remember the experience of getting our first card 😃
Let's share our first credit card experience...
My experience-
My first credit card was ICICI HPCL Coral, which I received in 2015. My home address at that time did not fall within any bank's serviceable area, so they asked me to apply for credit card against FD. But I needed an unsecured credit card, so I talked to my branch manager and I told him I needed an unsecured card.
He told me that... we can give you an unsecured card but for that you have to purchase an ICICI Prudential Ulip policy of Rs. 2 lakhs (minimum).
At that time I desperately needed a credit card because my business was in USA and I needed a credit card for its payment. I was unemployed that time with zero CIBIL score, No bank was offering me a credit card so I had purchased a policy of two lakh rupees at that time and got my first ever credit card ICICI HPCL coral credit card (chargeable), later icici converted that card to a lifetime free hpcl coral credit card and I'm still holding that one 😄

 

[ash]

Try for LTF DCB/Infinia ...
and it's great that first CC was Regalia.

I have just shy of 9L limit on it, How do I go for lifetime DCB / Infinia ? Tried RM (useless) and the DCB alumni offer (My college wasn't available) and didn't have any success.

 

[KumarS]

DCB requires 5L limit.

Maybe @KumarS could help.

Yes DCB needs 5L limit to get it approved.
If your current card limit is lower, reach out to your RM, tell that you will need DCB, based on your relationship etc, and he can offer you DCB with min 5L limit.

 

[ash]

Yes DCB needs 5L limit to get it approved.
If your current card limit is lower, reach out to your RM, tell that you will need DCB, based on your relationship etc, and he can offer you DCB with min 5L limit.

My limit is 8.8L+, I really don't want to give up LTF card and pay. I know the benefits will outweight the cost. Can my RM give me LTF DCB ?

 

[KumarS]

My limit is 8.8L+, I really don't want to give up LTF card and pay. I know the benefits will outweight the cost. Can my RM give me LTF DCB ?

You can ask him to check and confirm but do not apply/sign/approve until he confirms to be LTF

 

[ishan_kumar12]

Hello every,
The first credit card is special for everyone. We all remember the experience of getting our first card 😃
Let's share our first credit card experience...
My experience-
My first credit card was ICICI HPCL Coral, which I received in 2015. My home address at that time did not fall within any bank's serviceable area, so they asked me to apply for credit card against FD. But I needed an unsecured credit card, so I talked to my branch manager and I told him I needed an unsecured card.
He told me that... we can give you an unsecured card but for that you have to purchase an ICICI Prudential Ulip policy of Rs. 2 lakhs (minimum).
At that time I desperately needed a credit card because my business was in USA and I needed a credit card for its payment. I was unemployed that time with zero CIBIL score, No bank was offering me a credit card so I had purchased a policy of two lakh rupees at that time and got my first ever credit card ICICI HPCL coral credit card (chargeable), later icici converted that card to a lifetime free hpcl coral credit card and I'm still holding that one 😄Earlier

Earlier I was scared of CC as I had seen many of my friends getting in debt and taking personal loan to clear those debt. When I got job in 2018, I was offered LTF HDFC Moneyback CC against my HDFC salary account. Initially I rejected the offer because of the fear but after some time I started to feel the need of CC. So, I inquired again with the bank and luckily that offer was still there. I grabbed the offer and I got a limit of 35k. This is how my CC journey started. Even after 4 years, my limit is still 80 k. Although now I have a total of 10 LTF CC, so I am not bothered about Moneyback's limit. Since it is my first and oldest card, I am not closing it.

 

[AllSeeker]

Earlier I was scared of CC as I had seen many of my friends getting in debt and taking personal loan to clear those debt. When I got job in 2018, I was offered LTF HDFC Moneyback CC against my HDFC salary account. Initially I rejected the offer because of the fear but after some time I started to feel the need of CC. So, I inquired again with the bank and luckily that offer was still there. I grabbed the offer and I got a limit of 35k. This is how my CC journey started. Even after 4 years, my limit is still 80 k. Although now I have a total of 10 LTF CC, so I am not bothered about Moneyback's limit. Since it is my first and oldest card, I am not closing it.

Do tell which 10 cc you have, we have a thread for that

 

[ishan_kumar12]

Do tell which 10 cc you have, we have a thread for that

Sorry I have 9 CCs. And they are: HDFC Moneyback(75k), Kotak League(48k), BOB Premier(1L), One Card(55K), Indusind Aura edge(30k), Zomato Edision(36k), AU Vetta(1.9L), Amazon Pay(1.9L), Flipkart axis(15k). I will update that in that particular thread later.

 

[ishan_kumar12]

What's highest limit CC that you have?

By the way some people like to function that way. I have seen some people. Like taking debt, then again taking personal loan to clear it etc. Of course I believe in clearing the CC dues by the due date.

Nice 😀

I have 2 CCs of same limit of 1.9 L i.e APay and AU vetta. Yeah people like to behave that way but for me if due is too much it is like a burden for me. So, I always try to clear due on time. And if due is slightly more than I use RENT PAY 😆

 

[ishan_kumar12]

Why do so many people have Axis Flipkart CC with only 15K limit 🥲

That's a mystery. On the contrary, APay gives very good limit.

 

[AllSeeker]

Axis flipkart is natoriouse to give low limit. I had priority account and there was pre-approved limit of 75k on my account, that's why I've 75, otherwise I would be also having below 30

 

[sameerdes]

First own CC was thanks to a pre - approved offer from Axis in Dec 2016/Jan 2017. It was MyZone at the time.. which I suspect was newly launched around that time. Even if not new, the first card itself definitely was MyZone.
This was after I had already been holding a savings account with Axis for 6/7+ yrs (since 2008/09 or so). Also had a Citi add on (primary holder being my father) since 2015 which in that sense was the first CC I held or rather still do. Didn't know then that the Citi add on gets reported to CIBIL.. found out later that it does So I'm not sure if that is what helped me get the *pre-approved* Axis offer! But this in a nutshell is the story of my first card(s)!

 

[AllSeeker]

With axis, you need to maintain 10-20k more than your minimum balance consistently for more or less 6 months to get good pre-approved offers. Even then they can be very stingy.

 

[ashwink]

Flipkart axis(15k)

Only 15k still 🤦

 

[sameerdes]

How much Cibil boost did your Citi add on give you?
Do you have any idea?

No clue honestly. Although I knew credit scores & so on.. esp that it's required for loan approvals.. wasn't well versed enough to know all this.. that the citi add on gave me a cibil or what the exact score was & so on. After 2018 is when i started becoming more aware of such stuff.

Still wanted to be patient in applying for new cards & build a decent credit history (+ have better income) before doing so, so started taking more cards only in the last year.

 

[AllSeeker]

How much Cibil boost did your Citi add on give you?
Do you have any idea?

It works just like you owning a CC, only thing is that either of the CC holders should not default, any one of them if done, damages both their scores.

Only problem is that some banks don't bother to report add-on card as an seperate CC in your credit report.

 

[ishan_kumar12]

Only 15k still 🤦

Yeah bro. It's pathetic.

 

[AllSeeker]

Yeah bro. It's pathetic.

Just make sure not to spend more than 30% of it in a statement month. Otherwise it's really not a big deal, it will increase eventually. Axis gave 15k limit to lot of people, so you are not alone either.

 

[AllSeeker]

But most didn't seem to get any enhancements 🤔. Even 50K limit is something, 15K is pathetic.

Eventually you will. See problem is this particular card is offered at very low requirements, so initial low limit to most people.

 

[sameerdes]

Just make sure not to spend more than 30% of it in a statement month. Otherwise it's really not a big deal, it will increase eventually. Axis gave 15k limit to lot of people, so you are not alone either.

Yes, Axis does give 1 or maybe 2 LE offers a year (basis personal experience). Maybe not as aggressive in general as some others or atleast mine hasn't jumped 5x/10x suddenly but has become 2.5x in 5 yrs or so. Last LE offer I got was around October so yeah they do come.

 

[swastik2233]

I

But most didn't seem to get any enhancements 🤔. Even 50K limit is something, 15K is pathetic.

I have 15k shared between Axis Ace and Flipkart. Double pathetic. !!

Recently upgraded my HDFC money-back card to Millennia , so Flipkart shopping is covered . Now ace is sufficient for me. Will close axis FK if they don't change it to LTF !