HDFC credit card- disapproved

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nRiTeCh

nRiTeCh

Oracle
Last week I applied for HDFC credit card and upon viewing its status I found it as- Disapproved.

We 3 friends applied via same sales guy and for all 3 of us it got disapproved.

Reason: PAN cards copy not found both front and back sides.

We are unable to process the application further, in the absence of the following information:
· Permanent Account Number Proof -front and back of PAN card (PAN Card copy is MANDATORY FOR
BUSINESS CARD )
Or
· Form 60 (NOT APPLICABLE FOR BUSINESS CARD)

WTF?? Whats so special about PAN back side?

Called the sales guy again and he said will get back by tomorrow.

Any of you guys ever faced same issues? Googled and found lot of guys faced this.
 
OMG ! Been there, done that. One of the most irritating process they have for issuing a CC. I just applied for ICICI CC and got approved in no time. Expecting arrival in another two days.
 
Honestly? HDFC can screw it. Get an ICICI. Very helpful staff. While I was in Delhi i tried to go to their office but they told me they could come over to my place to get things done in an hour.
 
Surprisingly, I have had a very different experience with ICICI. They called me up one day asking if I was interested in a credit card. Since I've had an account with them for decades, I agreed. They came home, made me fill in all the documentation and then never got back to me. A year later I get another call from ICICI with a credit card offer. I gave them a piece of my mind regarding my previous application. They said they would get back to me regarding my original request and guess what...they disappeared again.

If their reasoning was credit-worthiness, then presumably they ran their checks on me before approaching me with an offer. In my books, ICICI's credit card department can go shove it.
 
I went to Axis bank and asked them for the procedure to get a CC, they told me the usual requirements which I didn't meet as I am a student who doesn't earn anything. Two weeks later they called me and gave me a pre approved credit card. So consider applying at Axis.
 
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I will get an update by afternoon today as to what went wrong and where.
I wish to opt for Axis cr card if the annual fees are less.

Basically I always hate Cr cards but now feel the need for emergencies just incase kinda situations so applied for Hdfc Time card.

Even 1 lac limit is more than enough for me.

I have SBI, ICICI and Axis accounts. Icici is standing dead since 3 years now. Current co. provided Axis a/c so would like to go for axis cr. card if the yearly fee doesnt exceed 500 bucks.[DOUBLEPOST=1455609540][/DOUBLEPOST]
Faraz said:
I went to Axis bank and asked them for the procedure to get a CC, they told me the usual requirements which I didn't meet as I am a student who doesn't earn anything. Two weeks later they called me and gave me a pre approved credit card. So consider applying at Axis.
Click to expand...
So what annual fees they charged you and whats the card plan and name?
 
Grease Monk said:
Surprisingly, I have had a very different experience with ICICI. They called me up one day asking if I was interested in a credit card. Since I've had an account with them for decades, I agreed. They came home, made me fill in all the documentation and then never got back to me. A year later I get another call from ICICI with a credit card offer. I gave them a piece of my mind regarding my previous application. They said they would get back to me regarding my original request and guess what...they disappeared again.

If their reasoning was credit-worthiness, then presumably they ran their checks on me before approaching me with an offer. In my books, ICICI's credit card department can go shove it.
Click to expand...

^are you sure that the people who contacted/came were really from ICICI? And did you contact their office after that? There are lots of such scams/identity thefts. People who claim to be bank staffs.
I first asked them through twitter and they promptly replied and contacted me. Though sadly I couldn't get an educational loan from icici which I wanted.
 
Yes, they grab your details and sell outside. Then fake sim cards are purchased for committing crimes and ultimately you fall in the trap of police etc.
 
If anyone of you has a FD then you can get a guaranteed credit card against that. I got HDFC Regalia against an FD and it is a really good card with tons of benefits. I also ended up cancelling that FD because of urgent need of cash but card didn't get cancelled.
Plus no fees either if I use the card for purchases worth 40k in a year.
 
iPwnz said:
^are you sure that the people who contacted/came were really from ICICI? And did you contact their office after that? There are lots of such scams/identity thefts. People who claim to be bank staffs.
I first asked them through twitter and they promptly replied and contacted me. Though sadly I couldn't get an educational loan from icici which I wanted.
Click to expand...
I considered this a few months later. Anyway, its too late now. At least my display pic matches my supposed life of crime :)

What did you ask them on Twitter, btw? Is Mr./Ms. XYZ a genuine ICICI representative?
 
rdst_1 said:
If anyone of you has a FD then you can get a guaranteed credit card against that. I got HDFC Regalia against an FD and it is a really good card with tons of benefits. I also ended up cancelling that FD because of urgent need of cash but card didn't get cancelled.
Plus no fees either if I use the card for purchases worth 40k in a year.
Click to expand...
I got a HDFC Regalia few weeks back, lifetime free without any 40k requirement , have hdfc savings a/c , applied from net banking received in a week .
 
nRiTeCh said:
So what annual fees they charged you and whats the card plan and name?
Click to expand...
I got an Axis Platinum Credit Card for the past 4 years with no annual fees provided if I spend 1 lac / year which was very obvious to be met.
The free addon card which came with it is with my parents.

Rather than looking at joining fee,I would advise you to check the interest charges these banks charge
In cases where you are not able to pay, it is life saver.
Specifically bigger transactions on EMI's.
I prefer my Kotak card in this case where it has saved me in few instances of financial crunches.

To give you a better picture, calculate interest on a transaction of 50K with 2 different interest rates.
Kotak charges me 2.75% whereas Axis charges 3.25%.
You can use online Credit Card EMI Calculator to know the actual difference
A transaction of 50K with 6 EMI on 2.75% ends up to 55635 whereas with 3.25% - 56686

So you have already saved your annual fee here in 1 single transaction

People get enticed with terms like "reward points" ,"No joining fee",etc.

In the end, what is the use of a credit card if it can't give you sufficient credit.
 
Last edited:
Arv90 said:
To give you a better picture, calculate interest on a transaction of 50K with 2 different interest rates.
Kotak charges me 2.75% whereas Axis charges 3.25%.
You can use online Credit Card EMI Calculator to know the actual difference
A transaction of 50K with 6 EMI on 2.75% ends up to 55635 whereas with 3.25% - 56686
Click to expand...
Damn.. That is way too much interest for EMI conversions. 2.75% per month converts to 33% per annum. Are you sure about the rates, or is it just an example?
 
logistopath said:
Damn.. That is way too much interest for EMI conversions. 2.75% per month converts to 33% per annum. Are you sure about the rates, or is it just an example?
Click to expand...
Nope.It was not an example but a true fact.
3.25% ends up to 46.78% per annum

People fail to notice the fee structure tabs of these credit cards and we fall for baits of these salespersons

I have just highlighted facts in red that have burned my pockets atleast for once.
CC_Screen.jpg
This one is for my Platinum Credit Card
 
Oh boy! Ditto on the salesperson/advertisement. One question: what bank offers a reliable credit? Something which works in all basic/essential needs at an affordable interest rate. Something without "rewards" which I'll probably not/never use it.
 
Arv90 said:
Nope.It was not an example but a true fact.
3.25% ends up to 46.78% per annum
Click to expand...
Wow.. And here I was thinking that SBI CC was charging way too much (they charge me 14.5% per annum interest rate for flexipay conversion, and additional around 500 as processing charges).[DOUBLEPOST=1455705425][/DOUBLEPOST]For the same example as yours I end up paying 52136. Already a satisfied customer of SBI CC, now I am even more happy. :)
I believe ICICI CC also has similar charges as SBI.
 
Arv90 said:
I got an Axis Platinum Credit Card for the past 4 years with no annual fees provided if I spend 1 lac / year which was very obvious to be met.
The free addon card which came with it is with my parents.

Rather than looking at joining fee,I would advise you to check the interest charges these banks charge
In cases where you are not able to pay, it is life saver.
Specifically bigger transactions on EMI's.
I prefer my Kotak card in this case where it has saved me in few instances of financial crunches.

To give you a better picture, calculate interest on a transaction of 50K with 2 different interest rates.
Kotak charges me 2.75% whereas Axis charges 3.25%.
You can use online Credit Card EMI Calculator to know the actual difference
A transaction of 50K with 6 EMI on 2.75% ends up to 55635 whereas with 3.25% - 56686

So you have already saved your annual fee here in 1 single transaction

People get enticed with terms like "reward points" ,"No joining fee",etc.

In the end, what is the use of a credit card if it can't give you sufficient credit.
Click to expand...

Its all obvious stuff. There is a trade off for everything. If you deal with these things with your eyes shut tight to the fine print, you will are obviously going to get burned.

I have 3 credit cards (HSBC, HDFC, SBI) all of which are life time free and have no limitations/restrictions/requirements.
I don't ever extend my credit period beyond the billing date. So, interest rate and late fees don't apply.

Credit card is meant to be a convenience to use in place of cash with the understanding that you would pay it back by the end of the month. What you are charged for non payment, is a penalty which is why the rates are kept so high.
It is not as an access card to get a personal loan whenever you need. If you want a loan to buy something to be repaid in 6 months or an year, you would be better off getting a loan or an EMI scheme on the product itself than using a credit card for such purposes.
 
Lord Nemesis said:
Credit card is meant to be a convenience to use in place of cash with the understanding that you would pay it back by the end of the month. What you are charged for non payment, is a penalty which is why the rates are kept so high.
It is not as an access card to get a personal loan whenever you need. If you want a loan to buy something to be repaid in 6 months or an year, you would be better off getting a loan or an EMI scheme on the product itself than using a credit card for such purposes.
Click to expand...
Summed up well.
Nothings free in this world.
No bank exists to do charity.

I have always been regular on paying credit cards.
But I happened to use the EMI facility for 1st time 2 months back and it turned out to be an eye opener.
So thought of warning the OP before choosing credit cards blindly.
 
logistopath said:
Wow.. And here I was thinking that SBI CC was charging way too much (they charge me 14.5% per annum interest rate for flexipay conversion, and additional around 500 as processing charges).[DOUBLEPOST=1455705425][/DOUBLEPOST]For the same example as yours I end up paying 52136. Already a satisfied customer of SBI CC, now I am even more happy. :)
I believe ICICI CC also has similar charges as SBI.
Click to expand...
EMI rates are similar across most of the credit cards. It is kinda similar to personal loan rates.
Those 3.25/46% interest rates are charged only when you fail to pay the total due amount before the date. One should also know that this 46% is charged on the current outstanding charges and not on just the amount you failed to pay.
For example, let's say you failed to pay just 5k and paid the rest of the total due. However, you will be charged the 46% on what total amount you owe to the bank on that day, which includes your current unbilled usage as well and not only on the 5k you think you owe the bank.

So if you think you won't be able to pay the bill that month, it's always much better to turn some amount into an EMI just before your billing date. Once statement is generated you won't be able to do anything about that.
 
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