Idfc unsecured credit card help

[Aravind P]

I am having IDFC WOW secured credit card. I wanted select/wealth credit card(unsecured card) but the bank people saying I cannot apply on website and get unsecured card as I already have wow card. They say only I can get if bank give pre-approved. Please tell me what to do in this case? I have good cibil score and premium cards from other bank.
Should I close my wow card and then apply? Any help is appreciated.

 

[pothi]

I am having IDFC WOW secured credit card. I wanted select/wealth credit card(unsecured card) but the bank people saying I cannot apply on website and get unsecured card as I already have wow card. They say only I can get if bank give pre-approved. Please tell me what to do in this case? I have good cibil score and premium cards from other bank.
Should I close my wow card and then apply? Any help is appreciated.

Yes, close and wait for pre-approved offers or close and apply after 3/6/12 months (if it is worth waiting). As you may have heard already, banks are going to be very selective in giving new CC due to recent RBI regulations. Banks are not going to issue cards as much as they used to.

 

[Tejo]

I am having IDFC WOW secured credit card. I wanted select/wealth credit card(unsecured card) but the bank people saying I cannot apply on website and get unsecured card as I already have wow card. They say only I can get if bank give pre-approved. Please tell me what to do in this case? I have good cibil score and premium cards from other bank.
Should I close my wow card and then apply? Any help is appreciated.

Maintain balance, if you have account.

Reduce credit utilisation to 30% .... average.

 

[telescope]

Yes, close and wait for pre-approved offers or close and apply after 3/6/12 months (if it is worth waiting). As you may have heard already, banks are going to be very selective in giving new CC due to recent RBI regulations. Banks are not going to issue cards as much as they used to.

Sorry for my ignorance. Which regulation are you talking about?

 

[Tejo]

Sorry for my ignorance. Which regulation are you talking about?

Rbi warned to not issue credit cards and loans ..... like freebies.

 

[telescope]

I am having IDFC WOW secured credit card. I wanted select/wealth credit card(unsecured card) but the bank people saying I cannot apply on website and get unsecured card as I already have wow card. They say only I can get if bank give pre-approved. Please tell me what to do in this case? I have good cibil score and premium cards from other bank.
Should I close my wow card and then apply? Any help is appreciated.

Yes cancel and wait for few months, then wait.

 

[pothi]

Sorry for my ignorance. Which regulation are you talking about?

Regarding risk weight increase done last month.

RBI increases risk weights on consumer credit exposure of banks, NBFCs to 125% from 100%

A day after barring Bajaj Finance Ltd. from sanctioning and disbursing loans under its two lending products ‘eCOM’ and ‘Insta EMI Card’ with immediate effect, the Reserve Bank of India (RBI), which has been red flagging about the rising unsecured loan books of certain Regulated Entities (REs)...

www.thehindu.com

 

[Aravind P]

Yes, close and wait for pre-approved offers or close and apply after 3/6/12 months (if it is worth waiting). As you may have heard already, banks are going to be very selective in giving new CC due to recent RBI regulations. Banks are not going to issue cards as much as they used to.

If I keep wow card and wait will there be a difference? I like it for its zero forex.

 

[Aravind P]

Also, for wealth card they are saying I should maintain 10 lakh balance which is really a huge amount!!

 

[pothi]

If I keep wow card and wait will there be a difference? I like it for its zero forex.

Yes. It makes a difference.

You can get Wow card at any time with anyone's name. Also, there are alternative CC with zero forex.

I don't actually have any negative thoughts about Wow card. In fact, I will be applying for one soon as I make transactions in USD a few times a year. Also, 7.5% interest on FD is the most by a major bank (only SFBs offer better rate).

I live in a non serviceable PIN by IDFC. So, I have no option than going with Wow card

 

[manzparty]

I had Wealth Pre approved, they did whole process and then cancelled it and RM called me we can only Offer WOW at the moment.

I went next week, visited branch and closed my account with them.

 

[Vasuki]

I had Wealth Pre approved, they did whole process and then cancelled it and RM called me we can only Offer WOW at the moment.

I went next week, visited branch and closed my account with them.

Maut ko chuu k taakk se wapas aa gya 😂

 

[Vasuki]

Also, for wealth card they are saying I should maintain 10 lakh balance which is really a huge amount!!

Bhai , why are you after idfc. thats the most shitiest bank in terms of cc. They gained some brownie point after all ltf card but since launch of wow fd card . They have gone bonkers .
Their approval is working on marijuana( too fast to reject / give wow card / application lead is never deleted hence same rejection) .& Their pre approved offer is on opium ( slow steady depressed)

 

[manzparty]

Bhai , why are you after idfc. thats the most shitiest bank in terms of cc. They gained some brownie point after all ltf card but since launch of wow fd card . They have gone bonkers .
Their approval is working on marijuana( too fast to reject / give wow card / application lead is never deleted hence same rejection) .& Their pre approved offer is on opium ( slow steady depressed)

Indeed, very true. There are better alternatives.
10L+ MAB can get you Infinia.

 

[Vasuki]

Also, for wealth card they are saying I should maintain 10 lakh balance which is really a huge amount!!

Wealth/ select is good if u want premium lounge visit ..for non credit card holder.
Else nothing special .
U can give 5 lakh ip for wealth
2-3 for select

For wealth maintain 3-5 lakh
Select 2_3 ..
Only upto 3 month .
Then enjoy 🤣

But no benefit bcz their cc & SAVING account has no relationship.

 

[Vasuki]

Indeed, very true. There are better alternatives.
10L+ MAB can get you Infinia.

Axis , hdfc , icici are good in this regard .

 

[anonymuos]

It is a well known issue: https://www.technofino.in/community...c-got-any-unsecured-idfc-cc.15074/post-301350

 

[chnleo]

Also, for wealth card they are saying I should maintain 10 lakh balance which is really a huge amount!!

I got the wealth card with 10 L limit in 20min while applying online! I don't have any relationship with idfc!!! 😀

 

[pk653]

@chnleo can you share how??

I got the wealth card with 10 L limit in 20min while applying online! I don't have any relationship with idfc!!! 😀

can you share how did you apply ?was it C2C basis .

 

[chnleo]

@chnleo can you share how??

can you share how did you apply ?was it C2C basis .

Open online idfc credit card application. Just Google it then you will see the page. Enter your details along with your pan number. While entering your income details then you you will "Other bank cards". Select a cc you already hold. Remember one thing, the oldest card will give you more success rate. Younger cards less then 5 yrs will give you lower variant cards with less limit. Hope you get it. Cibil also plays a part in deciding your approval.