Getting First Credit Card

@saurabh1 wrote:

@gagan5859 wrote:

m using axis bank cc against fd.. 50000fd for 1 year they give 40000 limit …opened fd in 22march the next day they provide insta easy card which activated in 8 hrs…
after 4-5 month of usage ….suddenly a msg from axis bank that u lien has been removed from fd….. the next day i visit branch the beautiful mam say we rcived mail u can break fd any time and ur cc will work.. i also confirm with axis cc then i break my fd rcvd intrst also….now m using axis cc… .
sorry for bad english.

Do you have savings account with Axis?
yes i have sav acnt , maintain 10000 avg bal.
When the lien on FD was removed, what was the credit limit on CC?
after 4-5 month even i ask customer care any criteria or time that you remove lien ..they say there is no criteria if ur score is good and pay bill at time then sytem will remove lien automatically ..they r not sure about when will lien is remove.. …. 80% of fd amount
When the lien was marked on FD, did you receive any interest on your FD?
when u apply for cc they write on fd insta cc applied. … interest will same as fd interst rate .. if u break before time they will charge some penality..

@saurabh1 wrote:

@ursvaru1244 wrote:

@ashu45 wrote:

do we have to maintain min. monthly average balance(10000) after FD of 20000-25000 or they dont have any relation?
be it in axis or icici

S just now i went to bank ,to get this card we have to have savings account and we should do 20fd and average balenece should be 10k in savibg account

Which bank did you go to?

@gagan5859 wrote:

@saurabh1 wrote:

@gagan5859 wrote:

m using axis bank cc against fd.. 50000fd for 1 year they give 40000 limit …opened fd in 22march the next day they provide insta easy card which activated in 8 hrs…
after 4-5 month of usage ….suddenly a msg from axis bank that u lien has been removed from fd….. the next day i visit branch the beautiful mam say we rcived mail u can break fd any time and ur cc will work.. i also confirm with axis cc then i break my fd rcvd intrst also….now m using axis cc… .
sorry for bad english.

Do you have savings account with Axis?
yes i have sav acnt , maintain 10000 avg bal.
When the lien on FD was removed, what was the credit limit on CC?
after 4-5 month even i ask customer care any criteria or time that you remove lien ..they say there is no criteria if ur score is good and pay bill at time then sytem will remove lien automatically ..they r not sure about when will lien is remove.. …. 80% of fd amount
When the lien was marked on FD, did you receive any interest on your FD?
when u apply for cc they write on fd insta cc applied. … interest will same as fd interst rate .. if u break before time they will charge some penality..

@Tejaa wrote:

@ashu45 wrote:

do we have to maintain min. monthly average balance(10000) after FD of 20000-25000 or they dont have any relation?
be it in axis or icici

“Yes” only if you open a saving account to link your FD with it, even few branch offers zero balance account for keeping a FD worth 50k or more (After maturity of your FD this account will be back to normal)

But @tycoon says “to get a Secured Credit Card of Axis or ICICI, you don’t need to have their savings account too. You can have their standalone credit card account against FD too.. It means you need not have Axis account to get their credit card against FD.”

@saurabh1 wrote:

One more thing I want to ask here is, if I make a FD with Axis for ₹20,000 my credit limit would be ₹16,000. In such a case, can I make a purchase of ₹22,000 on EMI from Amazon, Flipkart, etc. ?

CC: @Tejaa @DealSeeker @cybertechie

Pay excess amount in advance ,it will reflect in your account

@saurabh1 wrote:

One more thing I want to ask here is, if I make a FD with Axis for ₹20,000 my credit limit would be ₹16,000. In such a case, can I make a purchase of ₹22,000 on EMI from Amazon, Flipkart, etc. ?

CC: @Tejaa @DealSeeker @cybertechie

One simple way to avoid the over-limit charge is to deposit money in advance. So if your max and available credit limit is 16K (i.e. no dues) and you want to make a purchase of 22K, you can simply transfer at least 6K to your card in advance and then make the purchase via the credit card. You should actually never get to 100% credit utilization, but that’s a topic for another discussion.

As for an EMI transaction, it depends on whether the purchase would first be reflected as a single transaction of 22K and then split in EMIs or it would reflect directly as a smaller EMI amount every month. If it’s the latter, you wouldn’t have to pay any over-limit charges. So get this clarification from both the website offering the EMI purchase as well as your bank. CC @cybertechie

Thanks everyone for your valuable input.
I will get the Axis one, once I have 25k in my hand (20k FD + 5k for repayment of first dues to waive off those joining charges).

@saurabh1 wrote:

Thanks everyone for your valuable input.
I will get the Axis one, once I have 25k in my hand (20k FD + 5k for repayment of first dues to waive off those joining charges).

what are the charges of joining fees ?

5k is big amt. to repayment.

@dada2015 wrote:

@saurabh1 wrote:

Thanks everyone for your valuable input.
I will get the Axis one, once I have 25k in my hand (20k FD + 5k for repayment of first dues to waive off those joining charges).

what are the charges of joining fees ?

5k is big amt. to repayment.

I CHECKED ICICI CC AGAINST FD BUT ICICI RECEPTIONIST SAID ITS NOT GOOD BECAUSE INTEREST RATE HIGH IN THIS TYPE OF CARD.

Guys does axis bank offer decent reward points for secured cc?

@gagan5859 wrote:

i have to pay tax or return file if my annual cc bill is more than 2 lakh ?? @Tejaa @DealSeeker

can anybody tell?? @cybertechie

You guys said it right, Axis Support is horrible. Even branch staff was reluctant to give the card.

Any other option for secured card with no annual fees and no/reversible joining fees?

@DealSeeker Any idea about Standard Chartered Platinum Rewards Card?

@saurabh1 Check this site – https://www.cashoverflow.in/best-credit-cards-i...

I too don’t have much idea about CC’s but the above link might give you some details.

guys i want to say u one thing….icici and axis are not proving card against fb without bank account, so go for sbi get a zero balanece acount and get simply save credit card in 20 days #cibil starts

@tejaa
You read my mind bro. I was also thinking of opening a pocket saving a/c and from that make a FD and get a cc but was not sure whether that will work or not. Can anyone confirm as I’m not interested in opening another a/c unnecessary. And yes, you can still open a pocket saving a/c. The offer is still there.

@saurabh1 any update?

Got sbi secured card paid 2montsh ,now will my cibil start?

How much time does it take for transactions to appear in standard chartered netbanking for credit cards?

No, I mean the transaction history of payments made using credit card.

Check this https://www.desidime.com/forums/dost-and-dimes/...