Which bank's credit card should we try to include in our credit card portfolio in the very beginning.

[TheTrickySid]

I have heard that some bank's (Eg. HSBC/ICICI) don't issue a credit card to someone who already has multiple number of credit cards.

As I as have started building my credit card portfolio recently, So I would like to know your recommendations on which banks credit cards should I add in my portfolio on initial basis so that I don't face any problem of getting rejected due to already having multiple credit cards.

Currently I have HDFC & ONE Card(Federal Bank) and trying to get an invite for RBL ZOMATO Edition Classic Credit Card.

 

[vaibhav111]

hmmm multiple card means over 10 cc , trying going for LTF card every 2-3 month don't apply a lot in short period of time. rejection of cc have multiple reason.. sumant sir have tweeted recently or pinned on his twitter

 

[TheTrickySid]

hmmm multiple card means over 10 cc , trying going for LTF card every 2-3 month don't apply a lot in short period of time. rejection of cc have multiple reason.. sumant sir have tweeted recently or pinned on his twitter

I guess you have not understood the question.
What I am trying to ask is which banks credit card should I get first.
Like for eg. If I now collect 10 cc from different banks and then apply for any of HSBC card then the chances for getting my application rejected is very high because I already have many credit cards.
So it is suggested that if you want to have HSBC card the apply it before having many cc.
So what I am asking is that are there any other banks who follow the same criteria for cc.
@TechnoFino and @anirbanm could you please help or can you please tag the one's who might be able to help.

 

[Cierdo]

In my opinion, some banks issue credit card with a little higher due diligence to income than others. In case of Citi/HSBC, they assess your existing credit limits and on the basis of declared ITR, they evaluate whether you are eligible for their card or not.
If you have an ITR of 30L for say, and already hold 10 cards with combines limit of 10L, then you may get their CC. However, if you're already at 20L+ of CC limit, banks wont issue you their card because it is not in their interest to do so. You're effectively taking up more debt/leverage than you can possibly pay. Hence the rejection in some cases.

 

[vaibhav111]

I guess you have not understood the question.
What I am trying to ask is which banks credit card should I get first.
Like for eg. If I now collect 10 cc from different banks and then apply for any of HSBC card then the chances for getting my application rejected is very high because I already have many credit cards.
So it is suggested that if you want to have HSBC card the apply it before having many cc.
So what I am asking is that are there any other banks who follow the same criteria for cc.
@TechnoFino and @anirbanm could you please help or can you please tag the one's who might be able to help.

this should help

 

[TheTrickySid]

In my opinion, some banks issue credit card with a little higher due diligence to income than others. In case of Citi/HSBC, they assess your existing credit limits and on the basis of declared ITR, they evaluate whether you are eligible for their card or not.
If you have an ITR of 30L for say, and already hold 10 cards with combines limit of 10L, then you may get their CC. However, if you're already at 20L+ of CC limit, banks wont issue you their card because it is not in their interest to do so. You're effectively taking up more debt/leverage than you can possibly pay. Hence the rejection in some cases.

Thanks for the clear explanation

 

[TechnoFino]

I guess you have not understood the question.
What I am trying to ask is which banks credit card should I get first.
Like for eg. If I now collect 10 cc from different banks and then apply for any of HSBC card then the chances for getting my application rejected is very high because I already have many credit cards.
So it is suggested that if you want to have HSBC card the apply it before having many cc.
So what I am asking is that are there any other banks who follow the same criteria for cc.
@TechnoFino and @anirbanm could you please help or can you please tag the one's who might be able to help.

Icici, citi, hsbc