Best Salary Account & Credit card for 22LPA CTC for freshers

[Deepak2001]

Dear All,

Please provide your inputs for the best salary accounts and credit cards for a Salary of 20+LPA.

 

[wcgxlr8]

A few clarifying questions-
1. Is 22LPA net or gross?
2. How much would you spend annually? (estimate) and what is your expected spending pattern like?
3. Are you looking for a zero balance salary account/high interest savings account/premium accounts where you have to maintain a minimum monthly balance?
4. Do you own any credit cards / have a valid credit score?

 

[Deepak2001]

1. 22LPA is gross and Net is 20.24 LPA
2. Spending will be less as a fresher so Monthly 20-25k , rent, grocery, online shopping etc.
3. Looking for premium salary accounts that will enable premium credit card offers.
4. No Credit card till date and no credit history.

I prefer to go with HDFC Bank since they have the best premium credit cards, correct me if I am wrong.

Thanks for your response

 

[wcgxlr8]

1. Wait, 20.24LPA is net income after tax?

3. Either way, it might be hard to get a premium card straight away. My suggestion is to start with HDFC Bank salary acc and get a mid tier credit card (millennia maybe). The limit initially might be low but you can apply for a limit expansion after 6 months. Additionally, you can get an FD backed card to help build your credit score. You can get upgrade offers to Regalia based on your spending activity.

 

[Skylar]

1. Wait, 20.24LPA is net income after tax?

3. Either way, it might be hard to get a premium card straight away. My suggestion is to start with HDFC Bank salary acc and get a mid tier credit card (millennia maybe). The limit initially might be low but you can apply for a limit expansion after 6 months. Additionally, you can get an FD backed card to help build your credit score. You can get upgrade offers to Regalia based on your spending activity.

Hey, my brother has a 1.5 lakhs per month salary and obtained DCB credit card through his HDFC salary account
even my brother had no credit history at the time.

In my opinion, negotiating for Regalia Gold or DCB could be a more advantageous choice, for your salary account. HDFC's approval rate of premium cards is high for salaried.

 

[wcgxlr8]

Hey, my brother has a 1.5 lakhs per month salary and obtained DCB credit card through his HDFC salary account
even my brother had no credit history at the time.

In my opinion, negotiating for Regalia Gold or DCB could be a more advantageous choice, for your salary account. HDFC's approval rate of premium cards is high for salaried.

Haven't seen this before honestly, maybe a one off case? Either way, no harm in trying to get a premium card, just saying that the odds aren't that high especially since the spends mentioned aren't Regalia/DCB level. @Deepak2001 - if you can get Regalia LTF, go for it. Else, try and see if you can make more out of the card than what you will be paying annually.

 

[abhimarda]

1. Wait, 20.24LPA is net income after tax?

3. Either way, it might be hard to get a premium card straight away. My suggestion is to start with HDFC Bank salary acc and get a mid tier credit card (millennia maybe). The limit initially might be low but you can apply for a limit expansion after 6 months. Additionally, you can get an FD backed card to help build your credit score. You can get upgrade offers to Regalia based on your spending activity.

HDFC Bank is now offering many credit cards on secured basis as well which were not provided on secured basis earlier. The form below can be seen.

 

[wcgxlr8]

HDFC Bank is now offering many credit cards on secured basis as well which were not provided on secured basis earlier. The form below can be seen.

Thank you, new info for me, will pass it on to others

 

[bhavyakjain]

Hey, my brother has a 1.5 lakhs per month salary and obtained DCB credit card through his HDFC salary account
even my brother had no credit history at the time.

In my opinion, negotiating for Regalia Gold or DCB could be a more advantageous choice, for your salary account. HDFC's approval rate of premium cards is high for salaried.

Which variant of salary account he have - Regular or Premium ?
If possible, could you please share the product code for it

 

[doctoramar]

Hdfc is the best u can start with.U will get regalia gold card.Dcb itr has been increased to 30 lakhs now.
Be patient build credit history with decent spends and timely payments. In 6 months u will get credit limit increase offers and better card offers.