If you’ve ever attempted to apply for a credit card in India, you’ll probably be able to understand the frustration I’m about to recount. Though I have a good CIBIL score, stable income, and live in a Tier-1 city, my experience with several Indian banks of late has been nothing short of bumpy and at times downright discouraging.
Here’s what transpired:
Federal Bank Celesta Credit Card:
Applied with great expectations, only to be rejected on the basis of PIN code problems. Surprisingly, given that I reside in a Tier-1 city. Why launch a product pan-India if you are going to restrict it through ambiguous postal code limitations?
IndusInd Bank Tiger Credit Card:
Rejected once again. This time, no reason was ever communicated at all. No word, no indication.
HSBC Live+ Credit Card:
This, too, seemed to be hopeful. A diligent salesperson managed to push the application through by doing manual verification, eKYC, and all formalities filled. I even got an email that KYC was successful. And then. nothing.
After waiting for days with no news, I approached the customer care, only to be informed that my application had been rejected. No email. No SMS. No reason. And when I requested a reason, I was merely asked to go to the branch. Why must the onus of follow-up always lie on the customer?
The Bigger Issue: Poor Customer Service in Indian Banking
Despite digitisation efforts, many Indian banks still suffer from long processes, poor customer communication, and a lack of accountability. As a financially responsible customer with a solid profile, I’m baffled by how difficult it is to get a basic financial product like a credit card.