Upgrading credit cards is not the same process for everybody. There is a large chunk of people who continue to use the same credit card for years and keep stuck to the existing rewards and benefits that their credit card provides. They have entered in a comfort zone with that card and are not really ready to look for a new card and face all the hassle that comes along with it.
But the question is that are you actually able to enjoy the rewards and cashback benefits with your card in accordance to the amount that you spend through your credit card on your daily needs? You assume that you have the best credit card that suites your lifestyle and spending pattern but when you really go through the products available in the market, you start understanding that the card you own isn’t actually providing you with the rewards and interest rates that you deserve and now it is the time to upgrade your credit card. And by upgrading your credit card you will be able to enjoy-
- Higher rewards points
- Better cashback offers
- Enhanced credit limit
Now upgrading your credit cards may or may not be a hassle-free process, depending on your card-issuing company. Hence the best way to upgrade to a new card is by applying for an upgrade in the same bank in which you already own a credit card. Upgrading with the same back can ease down the approval and issuance process of the card as the bank is already aware about your credit history and will not have to do the hard check on your credit history. Checking your credit history time and again can have a negative impact on your credit score. Also, you will not have to learn about the rules of two different banks. Furthermore, upon getting more and more products from the same bank, it will help you in building a strong and better relationship with that bank. That is why it is beneficial to upgrade between the credit cards from the same bank.
Now the question that arises is, how can we upgrade to a new credit card from the same bank. The procedure for this is different from bank to bank and the time taken to deliver the new card also varies. Some banks allow you to have multiple credit cards at the same time but the product variant of all the cards should be different from each other. But some banks are of the opinion that you can own only a single credit card at a time. In that case, when you place a request for a new card, the existing one will work only till the time new card doesn’t get deliver to you. One the card is delivered, the old one is no more into existence.
Now let us discuss the process of credit card up-gradation of a few banks: –
1. HDFC Bank
Upgradation of HDFC Bank credit cards will enable you to avail better offers and reward points. The facility of upgrading the credit card is available only to selective cardholders. The following steps can be taken to check the eligibility for a credit card upgrade: –
- Login to the HDFC Bank Net Banking by entering the user id and password
- Select Cards Tab > Transact > Credit Card Upgrade
- Select the card number that you wish to upgrade
- The next page that will appear will tell you if you are available for an upgrade or not. If yes, you can follow the instructions mentioned on the page and your request will them be processed by the bank officials.
Another way is to apply for upgradation is through a form. You can download the Credit Card Upgrade/Limit Enhancement Form from here. Fill in the details and attach the required documents. Submit this form in the nearest bank branch for processing.
2. Axis Bank
The up-gradation of your Axis Bank Credit Card will help you to avail enhancement in your credit limit and also fetch better reward points and cash back offers. By following the process mentioned below, you can upgrade your credit card: –
- Login to Axis Bank Net Banking by using your user id and password
- You will find the Limit Enhancement option in My Credit Cards Accounts under the Accounts section
- Then by entering your existing card number, you can check whether you are eligible for limit enhancement or not. A message will be immediately displayed if your card is ineligible for enhancement.
- In case of eligibility, your request will be forwarded to the bank officials for processing.
Alternatively, you can visit the nearest branch for the upgrade or use the mobile banking application or call the customer care for the same.
3. ICICI Bank
Upgrading facility is available only to selective customers of ICICI Bank. It is on the sole discretion of the bank whether they wish to offer credit card upgrade to any customer. If in case you have been intimated by the bank regarding upgradation of your credit card, you can follow the below mentioned steps: –
- The applicant who is eligible for upgrade can call to the customer care and enquire about the details regarding the upgrade. Customer care is available at – 1860 120 7777
- You can also follow the instructions that the bank representative will provide you on how to upgrade the credit card
- Lastly, the credit cardholders and visit the nearest ICICI Bank branch and contact the bank representative and ask them about the process to upgrade the credit card.
Following are the ways in which you can upgrade your SBI credit card: –
- The first is to wait till you get a pre-approved up-gradation offer based on your previous credit history and usage.
- The second method is to request for the same in the nearest bank branch by filling in the physical application form and submitting all the income proofs and required documents. These will then be processed by the bank officials and there upon a decision will be taken whether to honour or dishonour the up-gradation request.
- Alternatively the cardholders can contact the customer care and request for upgradation. The customer care of State Bank of India is 1860 180 1290 or (STD Code) 39 02 02
Similarly, different banks/card issuers have different processes for credit card up-gradation. Hence, applying for an up-gradation of credit cards from the same bank can be really helpful as you already have knowledge about how the credit card policy of that particular bank works. It already knows about your credit history and repayment patterns. Hence, it would be comfortable and easier for you to get an upgrade from the same bank in which you already hold a credit card.