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Old 26th November 2014, 22:37   #1801
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Default Re: The Credit Card Thread

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Originally Posted by poloman View Post
I am losing patience with my Citibank Indian Oil card. I am yet to find a petrol pump where i could convert the points to fuel. Most of the time the server is down,machine not working or attendants are ignorant and above all they seem disinterested in servicing Citibank customers. Since this is a card issued in name of IOC I am totally disappointed since it is not serving its primary purpose.
Same thing with me. The petrol pump attendant didn't inform me before hand that the citibk server is down today. I tanked up fully and ended up paying cash for it. Lost cash back for the fuel filled.
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Old 27th November 2014, 16:51   #1802
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Default Re: The Credit Card Thread

Welcome rki2007! My job is to share information and help fellow Team Bhpians. I believe "Information shared is Information muliplied".

dmplog, thats good news about StanChart card. Thanks for sharing.

rkg, Please escalate to Grievance cell, Nodal officer and then Banking Ombudman. I got it resolved at Grievance cell of HDFC.

binand, Yes I used the same logic and was successful with HDFC bank. I was successful with Axis Bank after 2 months. Yes, after 2 months.
I told him 0 (As service charge is waived) multiplied by 12.36 (service tax) = 0. Luckily the Nodal officer understood and acted out of conscience.
The Nodal officer replied and he said they are evaluating a process to do it automatically. Till that time, I write an email to the Nodal officer to reverse the "illegal" service tax after every petrol transaction.
But try that with Indudind. You will get a standard "parrot" response that it cant be refunded.
This is India, Sir. Companies get away with far more serious offences.
I am trying to educate people and highlight business practices which are outright illegal. (Like charging service tax on no chargeable service). I fight with Businesses by various means.

Btw, is there any legal route against IndudInd on the non reversal of Service tax on petrol issue?
Apart from this, IndusInd Platinum Aura is a lovely card and the positives far outweigh the glitches.
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Old 27th November 2014, 20:04   #1803
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Default Re: The Credit Card Thread

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Originally Posted by dmplog View Post
Service tax reversal is also done on my standard chartered super value cash back card..
My ICICI HPCL gold card too reverses the surcharge & service tax each time. There are two separate lines in the statement for each transaction indicating the reversal. I recollect the same behavior on Citibank IOC card as well (which i dont use usually since I have a HPCL outlet close to my house where I often go).
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Old 27th November 2014, 20:04   #1804
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Default Re: The Credit Card Thread

Want to share a positive experience with redeeming the points of Standard Chartered Manhattan Card. Submitted the redeem request online and the items arrived home in 2 days flat. Beats most online retailers It used to be a pain to redeem Stan Chart points earlier, but now it is a breeze.
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Old 27th November 2014, 21:06   #1805
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Default Re: The Credit Card Thread

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Originally Posted by manduvindupondu View Post
Welcome rki2007!
Btw, is there any legal route against IndudInd on the non reversal of Service tax on petrol issue?
For taxes, the company/bank levying it, is just a conduit, to reach the tax paid by the public to the Govt. You will have to prove that the bank collected service tax from you and did not deposit it with the Govt. Impossible for an outsider.
On the other hand, if the bank has erroneously collected service tax and deposited it with the Govt., its a question of them interpreting the law differently/conservatively.
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Old 28th November 2014, 09:48   #1806
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Default Re: The Credit Card Thread

What's a good credit card that doesn't charge an arm and a leg for foreign currency transactions? Currently with HDFC and they charge more than Rs.2 per dollar spent. Fed up with the insane charges.
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Old 28th November 2014, 10:59   #1807
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Default Re: The Credit Card Thread

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What's a good credit card that doesn't charge an arm and a leg for foreign currency transactions? Currently with HDFC and they charge more than Rs.2 per dollar spent. Fed up with the insane charges.
I have been happy with Stan Chart. Their rates are just a few notches above the rate given in XE.com and they don't charge any service charge.
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Old 29th November 2014, 16:32   #1808
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Default Re: The Credit Card Thread

I have just registered for an HSBC credit card. This has no joining fees or even annual fees. With too many perks. It will be delivered soon.Here is the link, feel free to check it out and if anyone is using it, then please tell me your experience of using it. I will be getting an HSBC Advance VISA Platinum card.

http://www.hsbc.co.in/1/2/personal/c...um-credit-card
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Old 29th November 2014, 16:55   #1809
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Default Re: The Credit Card Thread

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Originally Posted by manduvindupondu View Post
Btw, is there any legal route against IndudInd on the non reversal of Service tax on petrol issue?
Yes, go through the bank's grievance redressal mechanism (mandatory as per RBI rules) and then complain to the Banking Ombudsman. Typically banks try to resolve all issues before reaching the ombudsman.

Quote:
Originally Posted by Bomi View Post
For taxes, the company/bank levying it, is just a conduit, to reach the tax paid by the public to the Govt. You will have to prove that the bank collected service tax from you and did not deposit it with the Govt. Impossible for an outsider.
You just need to flag it to the authorities. They'll do their due diligence and ask the firm (bank/company) to show records of all service tax collected and paid to government. Any taxable good or service requires a tax invoice in India, so the paper trail is clear. You might even make some money if they detect tax evasion (there is provision to pay reward money to informers, I believe 20% of tax recovered).
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Old 2nd December 2014, 11:56   #1810
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Default Re: The Credit Card Thread

Got a call from 91 11 48101360 asking for my card details, modus operandi described in http://www.complaintboard.in/complai...s-l314524.html .

This is the second time I'm receiving a phishing call on my ICICI card, the most surprising part is that they know my name and contact details. Reported the matter to ICICI bank by mail and tweet.

I'm going to cancel my credit card, don't feel confident about the security provided by ICICI bank.
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Old 2nd December 2014, 21:50   #1811
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Default Re: The Credit Card Thread

citi bank in IOC is the best card provided you find pump to reimburse the points.in pune there are two pumps ( 1) COCO 2) on solapur road) providing the service for last 7 years.


In Bangalore you need to find the coco pump & stick to it.
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Old 8th December 2014, 00:05   #1812
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Default Re: The Credit Card Thread

Earlier this evening noticed a banner at the local IOC vend proclaiming "American Express Cards now welcome at IOC pumps"

Per the attendant they got the AMEX specific card machines a couple of days ago and upon querying confirmed that hence forth the AMEX card will not attract the 3% service charge.

I had already paid using the CITI card so could not use the AMEX this time around but will do so at the next fill up and confirm his statement.
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Old 19th December 2014, 01:45   #1813
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Default Re: The Credit Card Thread

Does having many credit cards with high credit limits lower your CIBIL score and/or make other banks hesitant to give you a high limit?
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Old 19th December 2014, 10:16   #1814
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Default Re: The Credit Card Thread

I am toying with the idea of getting a credit card, while on the usual online research, I noticed that ICICI ( my current banker ) also has options for premium 'Debit' cards with added benefits.

I was looking to get a Credit card mainly because, I wanted to enjoy the discounts at restaurants and other services the card gives. If that can be met by this premium Debit card ( which has joining and annual fee ) then should I just end my search here and go for this?

What other advantages does a Credit Card offer?
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Old 19th December 2014, 10:35   #1815
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Default Re: The Credit Card Thread

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Does having many credit cards with high credit limits lower your CIBIL score and/or make other banks hesitant to give you a high limit?
Yes and no. The total credit limit (across all banks) is a function of your net income (which is your gross income as reflected in bank statements/salary slips/IT returns less your loan repayments). On top of this each bank applies its own product, demographic etc. specific ceilings to arrive at what could be your actual limit for that bank's card products. They share information so that the sum total of limits of all your cards is within a certain percentage of your net income.

CIBIL score is based on your credit repayment history. If you don't max out on credit cards, miss credit card payments, other loan EMIs etc. then you will have a good score. I believe even frequent cash withdrawals from credit card accounts will also lower the score.

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What other advantages does a Credit Card offer?
The primary difference is the "credit" part. Your money stays in your bank account till you are ready to pay. On Debit cards they money is deducted instataneously. Depending on your point of view this could be advantageous or not - for one, people tend to spend beyond their means with credit cards, and for another, dealing with fraudulent/erroneous charges and bank AQB requirements are easier.
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