Need advice with salary account

[youguptatube]

my company recently onboarded HDFC bank for salary account. they are ready to offer me imperia account there. I have net salary credit of ~3Lpm and AXIS is also offering me burgundy account. I currently hold a swiggy hdfc card and no core HDFC card. My question is which bank should I go with? Will moving my salary account to HDFC make me eligible for DCB credit card? Is there a possibility to get it LTF? Can I get DCB without opening a salary account there? I currently have yes marque card but the reward structure is not very good on that for travel bookings. I spend around 10L in a year on my credit cards. I was thinking of AXIS atlas but the reward redemption is through point transfer which restrict the flights or hotels you can book but on DCB you can use their portal and I think the reward rate is also high for travel spends.
Any other banks you can suggest which can give me good credit/debit cards
Thanks for reading through the post.

 

[Hell_Kitty]

DCB Metal not possible now a days without HDFC account and LTF isn't possible. DCB Metal is good for your use case. with 10L spends get annual fee waived off.

 

[Quantum]

First things first: Before opening the salary account with any of the banks, please negotiate with the bank's representative assigned for your company. For some of the companies, these representative often visit the campus and setup a help-desk for onboarding new employees. These are usually group of RMs and folks from bank's corporate salary team. Usually, any demand/request that the RM can't handle on his own, is conveyed to the corporate salary team representative. So, negotiating with salary team representative in addition to the RM is beneficial.

Coming to the query,
Axis:
With ~3Lpm net salary, you would get Burgundy salary account. And if your company has a tie-up with Axis then the 3Lpm criteria is reduced. Axis maintains CAT-A and Super CAT-A list of companies. There are other lists too but let's keep those aside as not applicable to your case. If your company is listed under CAT-A or Super CAT-A, then you could negotiate more when it comes to credit card approval.
With Axis, your goal should be LTF Magnus for Burgundy credit card. Folks may say that LTF Burgundy Magnus is not possible now, but it is possible.
RMs can initiate the application for LTF Burgundy. But initiating the application or sending the invite isn't a big thing in Axis, it's the prerequisites that must be met or approvals must be taken before the application, otherwise the application will be rejected in 2-3 working days.

But don't expect it to get approved the next day you open the salary account or after first salary credit. Axis goes by One Glance Statement (OGS) reflecting true burgundy criteria. They usually need 3 OGS (meaning 3 months wait time) to evaluate the TRV. You need to talk and neogotiate about this point with the team.

HDFC:
Couple of years back, there were times when we were getting confirmed DCB plastic (metal wasn't there) with salary accounts if salary was above 1.8-2. The only point where we had to negotiate was making it LTF/FYF. Now, it's not that easy.
You could try to get DCB metal with good credit limit if you proceed to open salary account with HDFC. LTF is hard, FYF could be possible.
Not sure what is your max credit limit on your existing cards, but if you could get something above 8L, that would be good. If Infinia is the ulitmate target, then this would work as a starting base.

However, I would suggest to read forum posts about DCB plastic vs metal benefits and rewards to understand which one would be best suited for your case. Take the decison accordinlgy.

If you could get 2-3 of your collegues with you with the same salary range, it would make the bank team try for the requests harder. Good to get the promises in written (espaically of Axis folks) via email too, so better to ask for email IDs and send the formal query to them.

 

[youguptatube]

First things first: Before opening the salary account with any of the banks, please negotiate with the bank's representative assigned for your company. For some of the companies, these representative often visit the campus and setup a help-desk for onboarding new employees. These are usually group of RMs and folks from bank's corporate salary team. Usually, any demand/request that the RM can't handle on his own, is conveyed to the corporate salary team representative. So, negotiating with salary team representative in addition to the RM is beneficial.

Coming to the query,
Axis:
With ~3Lpm net salary, you would get Burgundy salary account. And if your company has a tie-up with Axis then the 3Lpm criteria is reduced. Axis maintains CAT-A and Super CAT-A list of companies. There are other lists too but let's keep those aside as not applicable to your case. If your company is listed under CAT-A or Super CAT-A, then you could negotiate more when it comes to credit card approval.
With Axis, your goal should be LTF Magnus for Burgundy credit card. Folks may say that LTF Burgundy Magnus is not possible now, but it is possible.
RMs can initiate the application for LTF Burgundy. But initiating the application or sending the invite isn't a big thing in Axis, it's the prerequisites that must be met or approvals must be taken before the application, otherwise the application will be rejected in 2-3 working days.

But don't expect it to get approved the next day you open the salary account or after first salary credit. Axis goes by One Glance Statement (OGS) reflecting true burgundy criteria. They usually need 3 OGS (meaning 3 months wait time) to evaluate the TRV. You need to talk and neogotiate about this point with the team.

HDFC:
Couple of years back, there were times when we were getting confirmed DCB plastic (metal wasn't there) with salary accounts if salary was above 1.8-2. The only point where we had to negotiate was making it LTF/FYF. Now, it's not that easy.
You could try to get DCB metal with good credit limit if you proceed to open salary account with HDFC. LTF is hard, FYF could be possible.
Not sure what is your max credit limit on your existing cards, but if you could get something above 8L, that would be good. If Infinia is the ulitmate target, then this would work as a starting base.

However, I would suggest to read forum posts about DCB plastic vs metal benefits and rewards to understand which one would be best suited for your case. Take the decison accordinlgy.

If you could get 2-3 of your collegues with you with the same salary range, it would make the bank team try for the requests harder. Good to get the promises in written (espaically of Axis folks) via email too, so better to ask for email IDs and send the formal query to them.

Thanks a lot for the detailed answer. I have a HSBC card with limit around 11L and the limit in swiggy HDFC is around 3L.

 

[youguptatube]

DCB Metal not possible now a days without HDFC account and LTF isn't possible. DCB Metal is good for your use case. with 10L spends get annual fee waived off.

Thanks a lot. I'll check if they can confirm DCB before opening a account.