- 1 www.yescreditone.com pre approved – Apply Credit One Bank Card Online
- 2 HDFC Pre-Approved Personal Loan Credited in 10 Seconds
- 3 Here is Your Answer to Credit Card Processing Hurdles
www.yescreditone.com pre approved – Apply Credit One Bank Card Online
March 12, 2017 By admin
Yes Credit One Pre Approved
- Apply for a Credit One credit card online
- This card is desgined for those who are looking to rebuild their credit score
- The application should take less than 60 seconds to complete
Those who complete a Yes Credit One Pre Approved application should receive an instant decision in regards to the credit card (in some events the applicant may be asked to provided more information about their personal finance situation such as income, credit score, and salary). Those are responding to a Credit One card mailing offer will need to provide the approval code (which is found in the mailing) and the applicants SSN. Those who receive a Yes Credit One pre approved mailing offer are very likely to be approved as they have already been pre screened (but still approval is not guaranteed under any circumstances even with an approval code). Those who have already submitted an application with Credit One can check the current status with the applicants last name and SSN. Those who do not have an approval code can still apply but will need to provide their name, mailing address, phone number, email address, total monthly income, and DOB. The applicants total monthly income is required as it will help Credit One make a decision on if the person qualifies for a credit card and has the ability to pay it down (please note monthly income can include seasonal jobs, self employment, side hustles, interest or dividends from stocks, retirement, or money for public assistance programs). By clicking on the see card offers tab the applicant automatically agrees to allow Credit One to contact one or more credit reporting agencies in order to conduct a pre-qualification for credit.
Credit One Bank Credit Card Highlights
HDFC Pre-Approved Personal Loan Credited in 10 Seconds
As you might know Personal Loan is one of the costliest loan of all with the highest Rate of interest which is as high as 17% in some cases. If you have a credit card, its better to take loan on credit card or even to take EMI’s instead of going for PL as interest rates are comparatively less on the other.
After playing smart with Credit card loans & EMI’s, HDFC recently started issuing Pre-approved Personal loans easily to most customers. They have been doing it for a while but i see its more popular now, maybe a demonetisation effect. While i never wanted to get into any kind of Personal Loan or EMI in my life, my Dad is a perfect victim.
My dad recently got eligible for 10 secs Pre-Approved personal loan and the same was reflecting in his net banking, he also received calls regarding the same but interestingly not from HDFC landline support numbers, but from a typical 10 digit mobile number. Is HDFC outsourcing it to third party agencies or leaking the data of PL approved customers?! I don’t know.
It was a nice 6 Digit loan approved @ 14.75% and my Dad decided to go with it. You might ask why PL while HDFC credit card loans are available at 11.88%. Well, he had availed EMI, insta Loan & Jumbo loan already and the credit limit is kind of maxed out, a really valued customer of HDFC as you can see, that should help in upgrading his card at-least
Meanwhile, i still wonder what’s the internal eligibility criteria that triggered this Pre-approved personal loan, because its neither a salary account nor an account with huge transactions or balance.
The only correlation i can make is, his Jumbo Loan on HDFC credit card is being debited from this account and also i see this formula is fitting in.
- Credit Limit + Jumbo Loan Amount = Pre-Approved Personal Loan Amount (Almost)
Applying for HDFC Pre-approved Personal Loan Online:
Its a super simple 3 step process which involves basic form Filling and OTP authentication which doesn’t take longer than 2-3 minutes and you get your funds on your linked savings account instantly, not even 10 seconds. No CIBIL hard pull, nothing.
While other banks are using traditional ways to issue personal loan, HDFC is killing it with its Digital Banking initiatives by giving its customers the ability to take loans in matter of few seconds with no BS paper filling.
It appears to be not so secured without CIBIL check, no, you’re wrong. Banks have your CIBIL report already as long as you’ve ongoing Loan/card with the bank. I wrote more about this in one of my recent articles on how My Amex Credit Card Limit was Increased by Rs.1000.
Have you ever taken a Personal Loan from any bank (or) 10 secs Pre-Approved PL with HDFC? Share your experiences below.
I'm a Credit Card freak minting reward points and cashback for years. Obsessed with aviation, airport lounges and luxury travel at affordable cost.
37 thoughts on “ HDFC Pre-Approved Personal Loan Credited in 10 Seconds ”
It is indeed great to find such loan offers as the money comes in handy in case of any personal purpose. Good to see such offers being run by HDFC. There is a reason why I love HDFC.
Now car loan is enabled for instant disbursal too. Its kind of addiction they’re putting us on using “instant” services
Absolutely, but you know, people like you and me will always be happy as we value time so much. I know I have that instant access to extra cash whenever I want. This way, I don’t have to plan for getting the money months ahead and thus can narrow down all my time and research for the car/bike actually!
Well said Abhishek
Hi sid using regalia with 2.6l limit and classic status and I also have insta loan of 1.95l for 12 months and a jumbo loan of 3l for same duration and both insta loan and jumbo loans are booked by me at same date and last night I received an email from bank ready to give me a personal loan for 5.8 l at 13 percent interest rate and my question is that why they are providing me this loan offer and why they are not increasing credit limit on my card instead of giving loan my last limit increase is in Jan 16
Personal loan comes with high interest rate and that makes more money for them
The thing I don’t get is – when PL is applied the banks would do a hard pull of CIBIL and then process. But HDFC says pre – approved PL which gets credited instantly that means there is no particular hard pull enquiry on CIBIL when customer opts for it? If that is the case, then PL applied in this way is secured loan, I mean the CIBIL score will NOT get effected for applying PL.
That’s just one difference. “secured” means bank can recover from the security of Fd or whatsoever, that’s a whole different thing.
Though, yes we can relate it something like this
Thanks Sid, so to know the eligibility for this, the “offers” tab on net banking is only place to check?
Actually, this whole “pre-approved” thing is coming from the relationship value. It also comes from the credit card usage. Spending and paying back pattern. The more trustworthy and high net worth customer you are, the more of these lucrative offers you’ll see in your internet banking.
Ah same here. They have a instant jumbo loan approved for 5l, they just want to sell you as much as possible.
They haven’t increased the limit or upgraded my regalia card from Dec 15 .
I have availed jumbo loan, insta loan 3 times before. Note that taking Jumbo Loans will have a new credit account created in your CIBIL and reported every month though they do not pull a hard inquiry when you apply for the jumbo loan. I would suggest people to go for Jumbo Loan instead of Insta Loan as Insta Loan will block your credit limit on your credit card.
HDFC offers 0% processing fee few times for Jumbo Loans so keep a track on the Jumbo Loan page in your HDFC netbanking.
Try to submit the IT docs for Limit Enhancement
Thanks Sid. On a lighter note I wish I could have done that but if i submit my income documents they might decrease my current limit.
Ah, i get it then.
Hi Jay it looks like we have same story. My last annual income was Rs 3.2 lakhs. My credit card came with a limit of 1.5 lakhs on September 2015. They have not increased the limit even once. What to do ?
Could you please share your story of HDFC credit cards like when, how much limit, which cards HDFC gave to you and when and how much limit was increased ?
My HDFC Card limit was increased first time for 6 months and then it was on the yearly basis. They upgraded my card every time however they have stopped upgrading my card once i reached the regalia tier. I started from their Platinum Plus Card.
Before it was customer care who used to inform you about the limit enhancement and upgrade however now they have it on their netbanking portal itself.
Why do you require the increased limit? If it is something very important and that you want to make a big purchase then try writing about it to them. Also, don’t be afraid to send your ITR/Salary slip. They don’t decrease your already increased limit seeing your salary slip. Had that been the case then 99% people who have high credit limits would have their limits downgraded. They downgrade your limit only when you appear as a “risky” customer to them. Till the time you manage your spends nicely and pay on time, they value your business.
Hi sid my question is that why hdfc bank is not giving me online limit increase offer on my regalia card since Jan 16 my payment history is very good with bank and my current limit is 2.6 l
It depends on lots of factors like CIBIL, other loans etc. But you can request for enhancement with your latest ITR/Salary slip
hi jay. my story is similar to yours. platinum=> regalia. so for how long are you stuck at regalia.
also what is limit they offered you at that level (if you could give idea of what to expect).
also did hdfc increase status of your hdfc saving a/c (if you had) basis your cr. card relationship?
do you think hdfc will come out with another layer between regalia and infinia?
Am expecting it, lets see
No. HDFC never increases your savings bank account relationship based on your credit card relationship. Infact, the opposite may be true at times. If you are a high net worth individual and have poured in lots of cash into the savings account and have multiple investments with them, they might upgrade your credit cards accordingly.
I too think there is a high probability that there will be another Super Premium Card that will be introduced between Regalia and Infinia and in all probabilities, Regalia will become just a “Premium” Card.
I am stuck with regalia card from last 3 years and it will expire this year in April. I hope they will upgrade my card before that if not they will send another regalia card with 3 more years validity. I have a limit of 6l currently. They doubled the limit every time but now stuck at the same limit from a year. They used to increase every december for me.
Hi jay can you share your credit card journey from begaining for my help
Sure Amit, what do you want exactly ?
Jay thanks I want to know how you reach to 6l limit level and in how much time
It took 8 years Started from 75k limit with Platinum Plus Card.
Just keep spending, every year HDFC will double your limit upto some point.
Finally today got the limit enhanced to 7.8l from 6l. Even for my friend he got the limit increase option today. Please check in your netbanking once.
Hi jay my limit also increase by 30%
1. Why don’t you try for Infinia or at least Diners Black.
2. Your limit was increased automatically or you use to send your IT documents to Chennai.
3. What other relationship you have with HDFC ( Imperia, Preferred, loans. etc. ) ?
1. I got my card upgraded to Diners Black last week.
2. Yes, I got a mailer about the offer and it was also displayed on my netbanking.
3. Mine is Rural Savings Bank Account, QAB is just Rs. 2500. I do hold a Car Loan from last 4 years.
I guess saving account gets upgraded to preferred because of credit card relationship (dont know if there could be any other reason). Also i guess if we take, and repay on time, (and of course usage of card and repayments both matter), loan/s on cr. card, then the limit/card type/availability of loans on cr. card get enhanced. my friend has more than a couple of closed and couple of running loans on cr. card, still having limit of 7.5l, jumbo loan of 5l more available, total exposure available upwords of 15l, 2 yrs since getting upgraded to regalia…and got saving a/c upgraded to preferred too with dedicated 24*7 RM…..Any views will be greatly helpful here….
Am a regular user of credit card.initially cash back card was given with 75k limit in oct 2k15.now same card with limit 1.25l
Tried to upgrade my card but failed.
Wanna upgrade to Regalia.any suggestion?
First upgrade to Regalia first or allmiles and then go from there.
I got offer of loan 10 sec loan from hdfc as I have jetprivilage workd word Cc ..but was asking of document submit in near branch but I didn’t take then after 1-2 month late I get again same offer without any document submition..now already 12+ month over. Now I m doing business that time I was preferred cust n it was salary acc already instance jumbo I took on last diwali
If I close my pl (10sec ) loan which approved online only then I get same offer in future as that time my Cc limit was 1.60( got 2.10 lac 10 sec loan) only now 2.70 so I get better option in future like near to diwali planning for my business …hope of 3+ I could get .. So should I close this loan plz suggest
Here is Your Answer to Credit Card Processing Hurdles
You've been in the workforce for so long now, you're super responsible with your bills and other adulting matters, and you can definitely handle having a credit card as a nifty tool for cashless purchases. But, for some reason, even after an arduous credit card processing experience, banks always seem to think you don't have what it takes.
Somehow, it hurts so much more than being friendzoned by your crush…
Enter pre-approved credit cards. Some people with luck on their side receive emails or phone calls from their banks, asking if they're interested in a credit card with a certain credit limit. Banks tout this as part of their "loyalty program." It used to be that banks would just send credit cards to their clients out of the blue, without them even receiving notice or going through the necessary credit application process. However, the Bangko Sentral ng Pilipinas has banned this practice. Credit card companies work around this ban by asking their clients first if they're interested in a credit card, and then having them fill out an application form. In less than a month: voila ! The client will receive their credit card in the mail.
The BSP defines pre-approved credit cards as "unsolicited credit cards issued by credit card issuers to consumers who have not applied for such credit cards." For it to be a legitimate credit card processing application, the client's "intention and consent for the availment of the credit card must be clear and explicit," according to the BSP. Under this definition, pre-approved credit cards are prohibited, to encourage a more rigorous assessment of credit histories and financial capabilities. That's why banks now ask first for your consent and a credit application (even though they're sure to give you a credit card anyway). Most major credit cards engage in this practice.
Credit card companies would first send you an email or give you a call informing you that you're eligible to receive a pre-approved credit card. It can be the bank where you have transactions or accounts with, or it can be an entirely different bank. Banks have access to your credit information because of the Credit Information System Act, which makes basic credit data available for access by all entities in the Philippine financial system, so banks can easily assess your creditworthiness.
Once they get your consent, the agent will ask you to fill out an application form for credit card processing . Upon receipt of the credit card, it will be activated through your first swipe.
You're more likely to receive a pre-approved credit card if you have a relationship with a particular bank, such as a well-maintained savings account, a time deposit account or an online banking account with regular activity, such as bills payment. Credit card holders and regularized employees at a reputable company are more likely to receive one as well. You may also be deemed a possible recipient if your bank account has a considerable balance or a high average daily balance. Some banks may also check your consumer activity, such as online flight bookings, and offer you a credit card that would allow you to earn miles.
What is the easiest way to get a credit card if I have bad credit history?
Since BSP frowns on pre-approved cards, the easiest way to get a credit card is to apply for a secured credit card, which most big banks in the Philippines now offer. Especially if you have a bad credit history and don't like prepaid credit cards, then a secured credit card should be your choice. Appplying for a secured card is the same as applying for a normal card, but faster! However, you will need to open an account with the bank of your choice and deposit money that you cannot touch and will serve as collateral for when you cannot pay for the card's balance. In most cases, 80% to 90% of your deposited amount will automatically be your credit limit. Banks dictate how much deposit you should make, and in some cases, not every credit card has the same deposit requirements. Banks that offer instant credit cards or secured credit cards are BPI, RCBC and Security Bank.
What should I do if I receive a pre-approved credit card?
If you're one of those people who have been trying but failing to emerge victorious from credit card processing trials, then pre-approved credit cards will be a pleasant surprise for you. But don't get too excited! Once you receive that much-awaited call or email, first ask about the credit limit. Credit cards with higher credit limits or more premium kinds can have correspondingly higher annual fees, which can be a pain to cough up. Make sure that you can handle the payments and that you're truly financially responsible enough to make them on time. Analyze your budget and monthly income first and see if you have room for another bill coming your way. Ask thoroughly about all the perks, fees and fine-print caveats so you know what you're getting into. Better yet, use GoBear to see if it's a good card for you.
If you think you don't need a credit card because you've already got one (or a few), don't hesitate to say no to that tempting offer! For good measure, you can ask if you can be removed from their call list for other offers. If you still receive one in the mail, you can choose not to activate it by simply not using it. Also consider reporting the incident to the BSP's Financial Consumer Affairs Group by calling 708-7087 or sending an email at [email protected]
Always remember: credit cards are tools. They increase your spending power, but not your income. In many cases, they represent spending money you don't even have in the first place. So when it comes to these little plastic wonders, tread lightly.
Ready to face the credit card processing challenge? Compare the best out there through GoBear.