{"id":4514,"date":"2020-06-07T17:46:10","date_gmt":"2020-06-07T12:16:10","guid":{"rendered":"https:\/\/sketharaman.com\/blog\/?page_id=4514"},"modified":"2020-11-20T16:12:54","modified_gmt":"2020-11-20T10:42:54","slug":"secured-credit-card-which-bank-provide-credit-card-against-fixed-deposit-in-india-and-also-includes-airport-lounge-access-https-qr-ae-pnk8bt","status":"publish","type":"page","link":"https:\/\/sketharaman.com\/blog\/archive-my-content-amc360\/secured-credit-card-which-bank-provide-credit-card-against-fixed-deposit-in-india-and-also-includes-airport-lounge-access-https-qr-ae-pnk8bt\/","title":{"rendered":"Secured Credit Card. https:\/\/qr.ae\/pNK8Bt"},"content":{"rendered":"<p><strong>Which bank provide credit card against fixed deposit in India and also includes airport lounge access?<\/strong><\/p>\n<p class=\"q-text qu-display--block\">One of my existing banks advertised for credit card against fixed deposit aka \u201cSecured Credit Card\u201d.<\/p>\n<p class=\"q-text qu-display--block\">I went to a branch of this bank to apply for this credit card for a family member. This bank is a Top 5 private sector bank in India and this branch confuses the priciness of its shares with its rank on the valuation league table of global banks.<\/p>\n<p class=\"q-text qu-display--block\">I wrote about the visit in\u00a0<span class=\"q-inline\"><a class=\"q-box qu-cursor--pointer qu-hover--textDecoration--underline\" title=\"gtm360.com\" href=\"https:\/\/gtm360.com\/blog\/2018\/02\/23\/when-will-fintechs-sell-what-consumers-want-to-buy\/\" target=\"_blank\" rel=\"noopener nofollow noreferrer\">When Will Fintechs Sell What Consumers Want To Buy?<\/a><\/span>. Here\u2019s a tl;dr version:<\/p>\n<blockquote class=\"q-box qu-color--gray qu-borderWidth--retinaOverride qu-borderWidth--thick qu-borderStrictLeft\">\n<p class=\"q-text qu-display--block\">The branch operations manager summarily rejected the application, saying my daughter wasn\u2019t eligible for a credit card because she was still a student. I asked him to look up her account before hastily offering his expert opinion. He did that on their\u00a0<span class=\"q-inline\"><a class=\"q-box qu-cursor--pointer qu-hover--textDecoration--underline\" title=\"www.oracle.com\" href=\"http:\/\/www.oracle.com\/us\/products\/applications\/financial-services\/flexcube\/index.html\" target=\"_blank\" rel=\"noopener nofollow noreferrer\">core banking system<\/a><\/span>\u00a0\u2013 supplied by my ex-employer BTW \u2013 and, as I\u2019d hoped, realized that there were a few fixed deposits in my daughter\u2019s name. I also pointed out that banks could issue a credit card to non-earning people as long as they were 18+ and offered collateral like FD. This is an old banking rule but the guy acted as though he was hearing it for the first time in his life.<\/p>\n<p class=\"q-text qu-display--block\">I urged him to consult his senior colleagues. After doing that, he sheepishly agreed with me and assured me that, as soon as the majority status update happened, the bank would issue the credit card.<\/p>\n<p class=\"q-text qu-display--block\">Weeks after the majority status update went through, there was no movement on the credit card application. I escalated the matter to the Relationship Manager Head of the branch. She promised to send someone over to my daughter to discuss various credit card products. Months later, my daughter is still waiting.<\/p>\n<\/blockquote>\n<p class=\"q-text qu-display--block\">And this was without tacking on your stipulation about including airport lounge access.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">IMO Secured Credit Card fulfills needs but <a href=\"https:\/\/twitter.com\/elenabotella?ref_src=twsrc%5Etfw\">@elenabotella<\/a> , who created this product at Capital One, thinks it exploits the needy. I never thought the dividing line between fulfilling needs &amp; exploiting the needy was this thin!<a href=\"https:\/\/t.co\/LEgyinK4qV\">https:\/\/t.co\/LEgyinK4qV<\/a><\/p>\n<p>&mdash; Ketharaman Swaminathan (@s_ketharaman) <a href=\"https:\/\/twitter.com\/s_ketharaman\/status\/1191271431243517953?ref_src=twsrc%5Etfw\">November 4, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Based on my aforementioned experience, I tend to believe that the answer to your question is determined less by the bank and more by the specific employee you meet at its branch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Which bank provide credit card against fixed deposit in India and also includes airport lounge access? One of my existing banks advertised for credit card against fixed deposit aka \u201cSecured&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3722,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4514","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/pages\/4514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/comments?post=4514"}],"version-history":[{"count":0,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/pages\/4514\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/pages\/3722"}],"wp:attachment":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/media?parent=4514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}