APPLICATION FOR CREDIT CARD

POSTED BY RAMESH CHENNURU ON June 2, 2013 4:08 pm COMMENTS (5)

My cibil score is 837 as per Transunion Ver 1 and 822 as per Transunion ver 2. I am having SBI Credit Card with excellent track record for last 2 years. In my cibil report there are 5 enquiries in last month of which credit card related enquiries are 4. For getting life time free card  I had now applied for HSBC Credit card for Life time free card. Unknowingly i had also applied to HDFC Card I had received an SMS from HDFC Bank that card is under process. My questions are

i) Will i be issued HSBC Credit Card to enable me to cancel HDFC Bank card.

ii) Does my marks in CIBIL score get reduces on account of frequent enquiries.

 

5 replies on this article “APPLICATION FOR CREDIT CARD”

  1. Dear Ramesh, how can we answer that HSBC ‘ll issue a card or not. Please check it with HSBC. On the basis of CIBIL score, HSBC should provide the card to you.

    thanks

    Ashal

  2. Credexpert says:

    Dear Mr. Chennuru,

    Firstly, as you already hold an SBI Card credit card, you can request for an increase in the credit limit instead of opting for a new credit card. If there is a genuine need to hold another credit card then, kindly opt for either HDFC Bank or HSBC credit card depending on your preference.

    5 enquiries in one month are high. These imply a credit hungry behaviour and yes your CIBIL credit score would also be impacted negatively due to frequent enquiries.

    Continue making timely repayments and do not apply randomly for new credit facilities.

    Regards,
    Credexpert

    1. RAMESH CHENNURU says:

      Sir,
      My question remains unanswered. I once again request this
      Does HSBC Bank issues credit card to me. Yes / No

  3. Dear Ramesh, once HSBC card is active, you can cancel HDFC. Regarding the score, Yes too mamny credit enquiries & too frequently, may impact your score negatively.

    Thanks

    Ashal

    1. RAMESH CHENNURU says:

      Sir,

      My question remains unanswered. I once again request this

      Does HSBC Bank issues credit card to me. Yes / No

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