HDFC Preferred Banking worth it?

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a.c

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Hi,

I have a hdfc savings max account. I am getting an option to upgrade to preferred banking.

The question is: is it worth the upgrade? Would have to maintain 2L balance, while not an issue, but I don't want to commit to it unless it gives some reasonable improvements/benefits.

P.S: already have a regelia card. Will upgrading bank account category help in getting better cards or improved limit?
 
Upgrade it. And 2 lacs is average quarterly balance IIRC. Even if you don't maintain the minimum balance, they would automatically downgrade it back to the regular account.

CC limit, might or might not get affected by it. What's your limit right now? If you don't mind sharing the info.


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Well account will have no impact on credit card. Limit enhancement and upgrade is offered solely on the basis of your past performance.
I upgraded my regalia to diners black in February on the basis of my salary, limit wasn't changed. But then in July they doubled my limit. Now in August i once again upgrade to infinia and last month they increased my credit limit to 1.5 times. Now my credit limit is 3x than what it was in February. I do maintain a healthy relationship with bank but i do not think that had any impact unless it is a salary account.
 

It will depend on your cibil and ITR. Bank account will have no role to play unless it is a salary account.
 
Screenshot_20201218-154641.jpg

@mikrotik According to what's written in the image and you, if i am eligible for the cc, i will get a premium variant of cc and there is no guarantee that i will get cc if i upgrade right?.

Edit - I was actually talking about pre-approved offer. Heard from some who upgraded to classic or preferred that they got the offer like in 3 months.
 
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Also do banks prefer to issue cards/better limits (or offers) to salary accounts rather than savings?
If that is the case I can get it converted to salary account.
 
You will get CC on your credit cards on the basis of your Savings account. This is tough if you have no or bad cibil. Maintain minimum balance requirements in your account and make transactions using the account. You will get pre approved offer for CC. The credit limit will depend on your CIBIL and bank account average balance.
 
HDFC actually offers CC when they notice you've a stable bank balance. Regalia CC is in a way low key secure credit.
 
@Samuel So let's say i upgrade to classic, maintain 1 lakh amb, do regular transactions and have cibil above 700, will the bank provide pre-approved cc(premium variant)?.
 
Most likely. You can even talk to your relationship manager or anyone at the branch itself, they'll get it approved.
 

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