Regalia Gold Issued On FD Lien

[shekhar316]

I currently hold an HDFC Regalia Gold credit card on the FD lien When I tried applying for the Swiggy HDFC card, my application was rejected with the reason that card cannot be issued since my existing one on FD lien. However, in cibil report it shows as unsecured card. The bank suggested that if I want to move to an unsecured card, I would have to close the current card and reapply after six months. I’m unsure whether I should continue with the FD lien Regalia Gold and hope for an upgrade in the future to DCB, or close it now and wait to apply again for an unsecured card. Is there any harm in keeping the FD lien card?

 

[hellowo₹ld]

who told that reason for rejection? officially through email communication or someone verbal?

u can apply, no issues.

--------

I’m unsure whether I should continue with the FD lien Regalia Gold and hope for an upgrade in the future to DCB, or close it now and wait to apply again for an unsecured card. Is there any harm in keeping the FD lien card?

u can't upgrade FD cards because they won't get LE like unsecured cards. and if limit not sufficient u can't upgrade to DCB. There is no harm keeping FD card, it improves ur credit profile.

 

[Aniket Sharma]

I currently hold an HDFC Regalia Gold credit card on the FD lien When I tried applying for the Swiggy HDFC card, my application was rejected with the reason that card cannot be issued since my existing one on FD lien. However, in cibil report it shows as unsecured card. The bank suggested that if I want to move to an unsecured card, I would have to close the current card and reapply after six months. I’m unsure whether I should continue with the FD lien Regalia Gold and hope for an upgrade in the future to DCB, or close it now and wait to apply again for an unsecured card. Is there any harm in keeping the FD lien card?

Can I know the maturity of your FD and your credit limit, so that i can suggest accordingly

 

[shekhar316]

who told that reason for rejection? officially through email communication or someone verbal?

u can apply, no issues.

--------



u can't upgrade FD cards because they won't get LE like unsecured cards. and if limit not sufficient u can't upgrade to DCB. There is no harm keeping FD card, it improves ur credit profile.

@hellowo₹ld I applied for Swiggy HDFC, they simply rejected the card. Then via email channel when I asked them the reason, then they replied that additional or floater card can not be issued if primary card is based on FD lein as per internal policy. The limit of Regalia is 3L so I doubt that it would be eligible for further upgrades.

 

[shekhar316]

Can I know the maturity of your FD and your credit limit, so that i can suggest accordingly

@Aniket Sharma It's a 1 year FD, which will be auto renewed since it's now tied with CC. The limit on the card is around 3L, they provide 90% of fd amount as card limit.

 

[Aniket Sharma]

@Aniket Sharma It's a 1 year FD, which will be auto renewed since it's now tied with CC. The limit on the card is around 3L, they provide 90% of fd amount as card limit.

Bro,I think in this case you can close if you don't like regalia gold.

Because if they remove lein from your fd and keep your card active then you will not be able to upgrade as you are having less limit than 5 lacs.

Sometime if your record is good then they remove the lein keeping your limit same.