INFINIA Card - For HNI + Ultra Rich on Invitation Only

HDFC Bank which adopted the best strategy to offer Credit Cards only to its Bank Customers steered the meltdown and global financial crisis. Now the Bank wants to Pamper its HNI / Ultra High Networth Individual Clients with INFINIA Credit Card which comes without any pre-set spending limit but lots of freebies and choices for the luxury.

Pralay Mondal of HDFC Credit Cards said,

HDFC Bank already enjoys the highest mind and wallet share in credit cards. With INFINIA, we will redefine the lifestyle experience of the elite.

INFINIA Card from HDFC is available in both VISA / MasterCard and is by invitation only. [If you maintain at least Rs 1 Crore AQB in your Savings Account, then chances are high that you will be invited to INFINIA Club of Card Users.

India's Largest Issuer of Credit Cards - HDFC Bank

According to Data Received directly from the RBI [Dec-2010], the Banking Regulator, HDFC Bank has become the Largest issuer of Credit Cards in India. HDFC Bank has 4.77 Mn customers up from 4.42 Mn a year ago.

HDFC managed to buck the trend as it had issued cards only to its customers with good profile while third rate banking practices in ICICI made it cancel 25% of its credit cards last year. HDFC MasterCard Gold Card is the most issued card starting with series 5176 52XX.

ICICI Bank has the second largest credit card base in India with 3.7 Mn followed by Citibank which has 2.2 Mn.

HDFC Bank saw a growth of 20% in its Debit Card customer base and now stands at 12.35 Mn.

Platinum Cards Get Additional Benefits

HDFC Bank Platinum Card Customers Get Additional Benefits compared to Gold / silver or other entry level cards.

For instance, consider this, HDFC Cards has a Co-Branded Online Shop with Surat Diamonds. By virtue of being HDFC Bank Customer, you are already getting big discount. Now add any item to your cart and enter 558818 [6 Starting Digits of Platinum Card], you get additional discount.

This is just one such instance. You also get Petrol Surcharge Waiver, IRCTC Charges Waived, etc.

ClearTrip Discount to Debit Card Holders

Use your HDFC Bank Debit Card to book any flight, hotel or train & get 10%* cash back

Domestic Air Offer - Book any Domestic Flight and get 10% cash back on Base Fare or Rs.250 cash back per booking (whichever is less).

Trains - Book any Train and get 10% cash back or Rs.50 cash back per booking (whichever is less)

International Air Offer - Book any International Flight and get 10% cash back on Base Fare or Rs.600 cash back per booking (whichever is less)

Hotels Offer - Book any Hotel (Domestic/International) and get 10% cash back on Base Price or Rs.500 cash back per booking (whichever is less)

To avail the cashback kindly enter coupon code HDFCTRIP during step 3 of the booking process before payment.

Terms & Conditions:
* Offer valid on bookings made on www.cleartrip.com from 01/04/10 to 30/06/10 for any date of travel.
* Offer valid only on payments made using an HDFC Bank Debit card.
* To avail cash back the customer needs to enter coupon code HDFCTRIP during step 3 of the booking process before payment.
* The cash back will be credited to customer's A/c within 5 working days
* Customer can transact twice during offer period to avail the cash back. If he transacts more than twice he can still book but will not get any cash back for his third transaction.
* This offer cannot be clubbed with any other offer.
* Cleartrip & HDFC Bank reserve the right to change or withdraw the offer, anytime at the sole discretion of the Management.
* The terms and conditions of this offer are subject to change without any prior notice.
* All disputes are subject to Mumbai jurisdiction.

Upgrading Without Consent - Violation

A reader of our column wrote to us,

Recently, HDFC Bank Credit Card Division upgraded my Gold Card to Business Platinum without my consent - on phone or in writing. What worries me is the huge credit limit offered from Rs 30,000 to over Rs 100,000. Additionally, I am not getting any reward points on this. What are my rights as a consumer, can you please help as I need to go back to Gold Card.

It is quite common to see credit card companies raising limits / upgrading to Platinum / Signature cards for consumers who have a very good track record. Often, consumer are happy and they just accept the upgrade. However, it is VIOLATION of RBI's Notification to go ahead and UPGRADE CREDIT CARD without the consent of customer. So we suggest you to write a letter to HDFC stating that they have violated Section 6.1.f of RBI's Notification - RBI/2009-10/64 DBOD.No.FSD.BC.19 / 24.01.011/ 2009-10, issued on July-1-2009.

After this, the card issuing company will have to send a letter of apology and restore your original card and rights. You can post more question / comments of the forum.