10 easy ways to Increase HDFC Credit Card Limit
Tired of low limits and searching for hdfc credit card limit enhancement? then this article is for you.
A credit card is a widely used tool for the financial transaction on a daily basis in the modern world.
The
use of credit card fills in the void of emergency cash requirement when
paying the bills for the medical services in an emergency.
Provided you are low on cash and want to purchase some items then
credit card plays a major role in paying off the debt. People that are
working as salaried or self-employed avoid the use of cash and depend on
safe and secure, credit card transactions.
As per your need, you can swipe your credit card whenever you require.
People with strong credit score
get the best deals on the credit card approvals. Almost all the banks
in India offer the credit card to its valued customers. HDFC Bank credit
card has an established market value and reputation.
It is recognized as one of the best credit card on offer in India.
The
services offered by the HDFC Bank are better when compared to other
private banks. Provided you have savings accounts with the HDFC Bank you
can easily get the HDFC Bank Credit Card.
The
bank observes the financial transactions happening via savings accounts
and decides what limit to offer on the credit card. The credit card has a limited credit limit approved by the bank.
This
credit limit might not be sufficient in the case of the emergency
purpose like medical treatments, hospitalizations, and other important
work to be done on time.
To manage such situation better, it is imperative to know How to Increase HDFC Credit Card Limit.
Numerous factors can influence the HDFC Credit Card Limit Enhancement.
Verification of the Information before Limit Enhancement.
The
HDFC Bank does the verification of details such as payment pattern,
income, monthly spending limit and credit such as loans from the
financial institutions.
Before
you apply for the credit limit increase, check your banking history and
outstanding dues. Based on the same clear the outstanding dues and
maintain the high balance in the account.
- HDFC bank sets the initial credit limit on the credit card depending on the savings account balance. The bank observes the status of the savings account before accepting the application of the increment of the credit limit.
- There are different types of credit cards the HDFC bank offers such as silver, gold, and platinum. Different privileges come with these credit cards. These cards have different features and offer for the cardholders.
- People prefer using the credit cards for their specific needs. This has encouraged the bank to offer credit cards that have unique features and benefits associated with its use. This has attracted millions of customers that are either salaried or self-employed as potential credit card users.
- As a regular payer of the credit card bills, you have the highest chances of becoming eligible for the credit card limit enhancement. As the card holder, you must make payments of the complete outstanding every month. This shows the bank on time payments before the due date and the customer is a regular payer.
- The frequent use of the credit card makes you eligible in increasing the credit card limit. Therefore use the credit card frequently and make the payment of the entire amount every month. This helps in getting the credit limit increased.
Hdfc credit card limit enhancement - 7 easy Ways of Increasing Credit Limit.
#1. Show Increase in Income.
If
your income has increased them, you must forward the last three months
salary or the Income Tax Returns to the bank. Doing this is an effective
way to communicate to the bank. The communication is clear that as a cardholder you must have the higher credit limit.
This works on most of the occasions because the bank is happy with frequent transactions and payment of complete bill before due date without fail.
#3. Show Reduction in the Debt-Outstanding.
This
happens when a person takes a reduction in personal/home loans when you
have applied for the credit card. Most of the people do not realize
that payment of EMI on loans on time is one of the important factors
that play a major role in credit limit increase.
#3. Show High Limits on other Credit Cards.
Other
banks might offer you a higher credit limit based on your CIBIL score.
Therefore, share the information about such credit card in use with the
bank.
#4. Request for Upgrade and Limit Enhancement.
Send an inquiry to the bank for the next level of credit cards than your existing one. If you are eligible for the better
credit card product and services, then send a request for the limit
enhancement to the along with the credit card upgrade. Keep in mind the
annual fees for the new card and other such expenses.
#5. Use the Credit Card for the Foreign Trips.
When
you travel abroad and use your credit card, the bank gets foreign
currency markup fees for each transaction you make outside India. Also,
the customer traveling abroad must have a good bank balance, thus
increasing the limit makes more sense.
#6. Spend More on your Card.
The card holders request for more limit on their credit card when their present limit in credit card is less than their monthly expenses. In such cases banks increase the limit looking at the consistent purchase and timely payment of the credit card.
#7. Wait for the Credit Card Limit Increment to Happen.
The
credit card user’s get 25% to 50% limit increase when they continue
using their credit card to its maximum potential and make payments
before the due date every time.
Thus,
the bank reviews its valuable customer’s and increases their credit
limit naturally on the credit card. The frequent users who pay on time
and use their credit card regularly might also get 100% jump in credit
limit increase.
Reason for Denial.
The HDFC Bank can deny the credit card to the new customers based on multiple factors.
Below mentioned are some of the factors that can lead to credit card denial.
- Outstanding Debts.
- Low CIBIL Score.
- High Loan Balance.
- Credit Card Balance High.
- Too many Inquiries on the CIBIL Report.
- Low-Income Bracket.
- Age Criteria.
- Inconsistency at the Job Tenure.
Types of HDFC Credit Cards.
Below mentioned is the List of Types of the HDFC Credit Card.
Credit Card for the Beginners users and Premium Users.
- HDFC AllMiles Credit.
- HDFC Moneyback Credit Card.
- HDFC Regalia Credit Card.
- JetPrivilidge HDFC Bank World Credit Card.
- HDFC Diners Club Premium Credit Card.
- HDFC Diners Club Rewardz Credit Card
Business Credit Card.
- HDFC Business Moneyback Credit Card Limit.
- HDFC Business Platinum Credit Card Limit.
- HDFC Business Credit Card.
Super Premium Credit Cards.
- JetPrivilidge HDFC Diners Club Credit Card.
- HDFC Infinia Credit Card.
- HDFC Diners Club Black Credit Card.
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