Regalia Gold Issued On FD Lien

[shekhar316]

I currently hold an HDFC Regalia Gold credit card on the FD lien When I tried applying for the Swiggy HDFC card, my application was rejected with the reason that card cannot be issued since my existing one on FD lien. However, in cibil report it shows as unsecured card. The bank suggested that if I want to move to an unsecured card, I would have to close the current card and reapply after six months. I’m unsure whether I should continue with the FD lien Regalia Gold and hope for an upgrade in the future to DCB, or close it now and wait to apply again for an unsecured card. Is there any harm in keeping the FD lien card?

 

[ashakantasharma]

• If you’re comfortable keeping your FD locked and want to maintain credit history and limit, keep the FD lien card.
• If your priority is to get an unsecured card like the Swiggy HDFC card soon, and you don’t mind the 6-month wait, closing the FD lien card is the way.
• Meanwhile, you can try other unsecured credit cards from other banks to build your unsecured card portfolio.