Federal bank credit card escalation matrix

[sambit87]

Many users like me applied when federal bank declared all their credit card LTF. we had hard enquiry on cibil but after that it simply showed a pop up saying no offers available, without any application number, no status sent in email or sms. Where we should this escalate in federal bank chain before going to rbi ombudsman.

 

[Gabbar.Singh]

Many users like me applied when federal bank declared all their credit card LTF. we had hard enquiry on cibil but after that it simply showed a pop up saying no offers available, without any application number, no status sent in email or sms. Where we should this escalate in federal bank chain before going to rbi ombudsman.

Federal Bank sucks.
You can try their MD's email i.e.
[We have removed the email ID based on the request received from the Federal Bank.]

 

[src223]

I might get crucified for this take but here's what I believe.

All banks have their internal policies. All banks do a hard enquiry for a credit card, and based on that and their policies, one may or may not get a card.

Just because a hard enquiry is done, a card is not guaranteed. A bank may have requirements as high as the Great wall of China, but they have the complete right to do that. If 99% people don't get a card, it's not a reason for escalation.

In my opinion, federal bank has done nothing out of the ordinary that requires an escalation. People applied, they made a credit enquiry, most didn't make the cut according to their policies (including me), no offers were given. Seems completely normal and what any other bank would likely do.

 

[ltf4ever]

I might get crucified for this take but here's what I believe.

All banks have their internal policies. All banks do a hard enquiry for a credit card, and based on that and their policies, one may or may not get a card.

Just because a hard enquiry is done, a card is not guaranteed. A bank may have requirements as high as the Great wall of China, but they have the complete right to do that. If 99% people don't get a card, it's not a reason for escalation.

In my opinion, federal bank has done nothing out of the ordinary that requires an escalation. People applied, they made a credit enquiry, most didn't make the cut according to their policies (including me), no offers were given. Seems completely normal and what any other bank would likely do.

i agree.
but in my case, they asked me to submit the 3 month bank account statement that contains many confidential transactions, and then declined.

case 1: if the decline was not because of bank statement, they should have declined without asking for statement.

case 2: if it was because of bank statement, i don't know what policies they have because my salary credit is high enough to be eligible for DCB.

so I think it is case 1 and they just collected data that they should not have, intentionally.

even my cibil is good.

 

[Shrinit Padwal]

i agree.
but in my case, they asked me to submit the 3 month bank account statement that contains many confidential transactions, and then declined.

case 1: if the decline was not because of bank statement, they should have declined without asking for statement.

case 2: if it was because of bank statement, i don't know what policies they have because my salary credit is high enough to be eligible for DCB.

so I think it is case 1 and they just collected data that they should not have, intentionally.

even my cibil is good.

Check this - Post in thread 'All new Federal Bank credit cards are now LTF w.e.f. 3rd Apr 2023' https://www.technofino.in/community...-now-ltf-w-e-f-3rd-apr-2023.10067/post-197765
For no offers found - it's the no of hard credit enquiries in CIBIL - they didn't give exact number or period - but this is the reason.

 

[sachinvenga]

Many users like me applied when federal bank declared all their credit card LTF. we had hard enquiry on cibil but after that it simply showed a pop up saying no offers available, without any application number, no status sent in email or sms. Where we should this escalate in federal bank chain before going to rbi ombudsman.

Same thing happened with me, I have send two emails but no response yet.

 

[ltf4ever]

Check this - Post in thread 'All new Federal Bank credit cards are now LTF w.e.f. 3rd Apr 2023' https://www.technofino.in/community...-now-ltf-w-e-f-3rd-apr-2023.10067/post-197765
For no offers found - it's the no of hard credit enquiries in CIBIL - they didn't give exact number or period - but this is the reason.

that maybe the reason, i had 6 in last 6 months.
but theycould have declined as soon as i submitted pan. instead they took my 3 months bank statement also before saying no offers.

 

[Shrinit Padwal]

that maybe the reason, i had 6 in last 6 months.
but theycould have declined as soon as i submitted pan. instead they took my 3 months bank statement also before saying no offers.

We all are in the same boat - also it asked after uploading one of my bank statements, do you want to upload other bank statements as well - as if I'm going to give it everything.

But yeah this cibil enquiries criteria should be mentioned somewhere in their MITC or eligibility criteria, so we could have avoided 1 cibil hit.

Initially when I mailed them - they simply told internal criteria and rejected. Only upon constant mailing - they gave no of cibil enquiries reason(also not disclosing exact number).

 

[hks789]

We all are in the same boat - also it asked after uploading one of my bank statements, do you want to upload other bank statements as well - as if I'm going to give it everything.

But yeah this cibil enquiries criteria should be mentioned somewhere in their MITC or eligibility criteria, so we could have avoided 1 cibil hit.

Initially when I mailed them - they simply told internal criteria and rejected. Only upon constant mailing - they gave no of cibil enquiries reason(also not disclosing exact number).

I had around 7 in last 6 months and got rejected.
I applied for a family member who had 1 enquiry in the past 6 months and got approved instantly.

 

[wizardArrived]

Does anyone has details on credit card escalation matrix ? Or their escalation matrix shown on the page should work?
Im fighting since a month for Forex Markup Federal Bank charged on a local merchant. They are still insistent that the charge was correct. I want to escalate further before going towards BO.