I need some suggestions for using the HDFC Bank Credit Card.

[Jj07]

I have got a Pre Approved Credit Card offer from the HDFC Bank with limit of ₹75,000.

I'm a college student hence I don't have any self earning income. I am completely dependent on my family income.

But I'm using this credit card for shopping, bil payments and other expenses. I'm paying it back on time from my parents income.
Should I keep using the card?
Is there is some issues?
Could this can be any affect in my credit score?

I need your valuable suggestions.
Thank you.

 

[asen]

I got a pre approved credit card from hdfc. Limit 75 k i have no earning and itr. Im just using it for shopping and bill payments and paying it back from money from my parents as im a college student.

Should i keep using the card or is there an issue?
Could this affect my cibil ?

As long as you can pay all your dues within time, there is no issue. It will help you build a good credit history.

 

[Jj07]

As long as you can pay all your dues within time, there is no issue. It will help you build a good credit history.

Thanks. Also, is it fine if i shop for around 40k and pre pay around 20 k each month to maintain a good utilisation ratio ?

 

[asen]

Thanks. Also, is it fine if i shop for around 40k and pre pay around 20 k each month to maintain a good utilisation ratio ?

Yes, absolutely fine. You can even pay entire amount before bill generation. There is no issue with that.

 

[Naman Jain]

I got a pre approved credit card from hdfc. Limit 75 k i have no earning and itr. Im just using it for shopping and bill payments and paying it back from money from my parents as im a college student.

Should i keep using the card or is there an issue?
Could this affect my cibil ?

I personally also got my first credit card this way only yes limit was a lot lower.
Do note few things.
As you are students and have no income so don't spend to much else these spending is actually reported to itr so if you spend more then 5 lac then can face some issues from it department.
Other then this don't use this card in a inappropriate way as it can get cancelled there is already a video on techno fino regarding this.

 

[Amrish]

Does anybody has the direct email id for grievance redressal at hdfc credit cards. On their website, I can only find a form that needs to be filled but no email is provided.

 

[ashwink]

Should I keep using the card?

Keep using the card until you afford to pay it back and use it responsibly.

Is there is some issues?

Three is not an issue as long as you are paying it back on time.

Could this can be any affect in my credit score?

As you are currently in young age it helps to build a good credit history and also helps your in future credit products negotiable.
Note:
Don't make unnecessary transactions it can cause you in debt trap with worlds most costliest loan.

 

[Jj07]

I personally also got my first credit card this way only yes limit was a lot lower.
Do note few things.
As you are students and have no income so don't spend to much else these spending is actually reported to itr so if you spend more then 5 lac then can face some issues from it department.
Other then this don't use this card in a inappropriate way as it can get cancelled there is already a video on techno fino regarding this.

Does this 5 lac include debit card spends as well?

 

[Jj07]

Keep using the card until you afford to pay it back and use it responsibly.

Three is not an issue as long as you are paying it back on time.

As you are currently in young age it helps to build a good credit history and also helps your in future credit products negotiable.
Note:
Don't make unnecessary transactions it can cause you in debt trap with worlds most costliest loan.

Thanks, ill take care. Im just worried about spending more and getting in trouble with the IT department? Should i be careful if i spend 2 lac in entire year.

 

[ashwink]

Does this 5 lac include debit card spends as well?

Not only debit card all of your financial transactions were reported by financial institutions to Income Tax Department..

 

[Jj07]

Not only debit card all of your financial transactions were reported by financial institutions to Income Tax Department..

Ok thanks

 

[BankExpertIndia]

I have got a Pre Approved Credit Card offer from the HDFC Bank with limit of ₹75,000.

I'm a college student hence I don't have any self earning income. I am completely dependent on my family income.

But I'm using this credit card for shopping, bil payments and other expenses. I'm paying it back on time from my parents income.
Should I keep using the card?
Is there is some issues?
Could this can be any affect in my credit score?

I need your valuable suggestions.
Thank you.

Good!

Always Pay Your Bill In Full & Shop Only When You Have That Much Amount In Your / Parents Bank Account.

Try To Spend Below 5 Lakhs / Year