So I got an HDFC bizpower FD BACKED credit card. With FD back cards you get 90% of the FD as a credit limit so I made an FD of 5 lakhs getting 4.5 lakhs as credit limit per month.
I wanted to know that it is already at its 90% ,with regular usage and paying bills on time is it possible that the credit limit increases even for the possibly over the FD amount of rs 5 lakhs rupees?
I asked the HDFC representative for a bizblack credit card upgrade for which he said I need a minimum credit limit of 7.5 lakh rupees. Without my existing credit cards credit limit upgrading to 7.5 lakhs , will I get an upgrade to HDFC Bizblack, as my credit limit is already maxed out as per the FD rules? Do you even get an upgrade on a credit card backed by FD?
I made the FD for 1 year. it is 6 months now and in the next 6 months it will mature, if I withdraw the FD after maturity will my card close and if yes how to get the card back after maturity?
Tldr;-
Need to know -
does the credit limit upgrade over the 90% limit of the FD BACKED credit card criteria with regular usage?
Do you get an upgrade on credit cards backed by FD? If not, How to get upgraded to Bizblack from bizpower?
On maturity and withdrawal of fd, the credit card will close. How to get the same card post the FD closing?