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Old 19th December 2014, 11:14   #1816
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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?
At least in my case that hasn't happened. I hold CC's from 7 different banks (all except one have been offered to me without me ever applying). All are high credit limit cards.

My CIBIL score continues to go up (above ~750 at this point) and I still receive offers for getting a new card or upgrading the current one. HDFC, in fact, has revised my credit limit (upward) twice in the past one year.

I believe it has got more to do with your repayment record than anything else. From what I have been told is, when your application is reviewed, banks look at the "% of total credit limit consumed" rather than the total credit limit itself. For e.g If the total credit limit across your existing cards is 10 lacs and, at the time of reviewing your new CC application, your consumed credit limit is (for e.g.) more than 5-6 lacs then that might be looked at unfavourably. If it is just 50-60k then that won't be an issue.
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Old 20th December 2014, 10:40   #1817
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Default Re: The Credit Card Thread

My bank has now come back with a crappy answer on why they sneaked in a new upgraded card with an annual fee under the guise of a chip enabled card.

Their feedback now is, the your virtual card was expiring, that has been extended. Along with it, we have sent you this new chip enabled card. The welcome letter has a mistake & it is indeed free for you. This feedback after 1+ month of multiple follow-ups/calls by them/escalations.

If I had used the new card without really bothering about the welcome letter, I would've been made to pay the annual fee later. Only upon multiple escalations, the message that it is "indeed free for you" has come out now (not earlier) - which makes it sound soo unconvincing. There is no proper explanation to why did they sent me another card, with a fee, without my request either. Also, their corrective action is only to instruct their team members (& nothing not doing such dirty tricks for other customers in the future), again sounds soo fake.

I want to treat this approach of sneaking in a new card with a fee without a customer's pre-approval as breach of customer trust and amounting to cheating. Want to escalate it to next level to pull their pants down for their initial arrogance & their silly explanation now.

What do you say?
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Old 20th December 2014, 11:18   #1818
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Default Re: The Credit Card Thread

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I want to treat this approach of sneaking in a new card with a fee without a customer's pre-approval as breach of customer trust and amounting to cheating. Want to escalate it to next level to pull their pants down for their initial arrogance & their silly explanation now.
They did it to me (HDFC Bank - Visa Signature to JetPrivilege). I fought with them for about 2 months to get it downgraded back to what it was. It took patient escalation through their system (here: http://www.hdfcbank.com/personal/customer-centre) with threats of going all the way to the Banking Ombudsman and termination of all accounts and relationships to get it sorted out.
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Old 20th December 2014, 12:02   #1819
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Default Re: The Credit Card Thread

I have an ICICI Coral credit card from May 2013. My salary account is also tied up with ICICI which was why I opted for their card over StanChart and HDFC.

The fuel expenses have shot up recently (paid over 5k this month alone!) and I prefer to swipe the credit card at the outlet. It looks like the bank is levying fuel surcharges for each swipe. Iíve decided to opt for a card which offers savings on fuel expenses. Filled up the details on ICICIís website and there is an option to upgrade the existing card or get another one. Decided to upgrade the current one. Expecting a callback in the next few days. Letís see how this goes.
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Old 23rd December 2014, 13:33   #1820
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Default Re: The Credit Card Thread

ICICI Bank is becoming increasingly difficult to deal with. First they levied Annual Fee on my CC even though I comfortably surpassed their annual spending criteria for fee waiver. Took me a month to get the charge reversed. They just bounced me around until I put my foot down and refused to hang up until they reversed the charge IMMEDIATELY.

Now there's another ongoing drama about a credit limit enhancement request. They rejected it saying they see multiple deposit transactions from my employer in my salary account per month which is against bank policy somehow. Now my employer credits salary once a month and expenses separately against actuals, so there's always multiple transactions in a month, for as long as I've held the account. This has never been an issue before for credit limit enhancement, and nobody from their phone banking side is able to explain why it's suddenly a problem now.

I've never defaulted on a payment EVER and have a clean credit history. I guess they don't like a customer who clears his credit on time and doesn't pay them exorbitant interest and late fees. I'm seriously contemplating closing my business with ICICI and moving to another bank.

Suggestions for a credit card please? Who's relatively the most hassle-free to deal with?

Last edited by Chetan_Rao : 23rd December 2014 at 13:35.
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Old 23rd December 2014, 14:21   #1821
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Default Re: The Credit Card Thread

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Originally Posted by Chetan_Rao View Post
Suggestions for a credit card please? Who's relatively the most hassle-free to deal with?
https://www.americanexpress.com/in/c.../charge-cards/
https://www.americanexpress.com/in/content/gold-card/

These are not free, but they come with way better customer service.
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Old 23rd December 2014, 14:53   #1822
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Default Re: The Credit Card Thread

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How does AMEX fare in terms of acceptability now? I've had trouble in Bangalore using my company-issued AMEX card in the past. Lots of vendors either decline the card or expect me to cover the additional processing charge (AMEX charges 4%, most other banks charge 2%).

I can vouch for their customer service. Exemplary and totally fuss-free.
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Old 23rd December 2014, 15:30   #1823
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Default Re: The Credit Card Thread

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Originally Posted by Chetan_Rao View Post

Suggestions for a credit card please? Who's relatively the most hassle-free to deal with?
In my experience Citibank is most hassle free , My experience with stan-chart is not too good and I discontinued their card.
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Old 23rd December 2014, 16:30   #1824
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In my experience Citibank is most hassle free
I agree on this. I have had Citi cards for 11+ years now. Never a reason for complaint. Every single issue I have had in these years have been resolved in my favour.

HSBC also is good. At least, when I had a card from them.
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Old 24th December 2014, 08:49   #1825
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Default Re: The Credit Card Thread

Citibank has the most awesome customer service.

I hold a salary account and a credit card with them since 2007 and have faced zero issues till date.
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Old 24th December 2014, 20:03   #1826
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Default Re: The Credit Card Thread

My preference of best Credit cards- Citibank, Indusind, Axis, Kotak.
Never go for ICICI, StanChart, Andhra Bank, Amex, HDFC, RBL, SBI.
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Old 25th December 2014, 08:26   #1827
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Default Re: The Credit Card Thread

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Originally Posted by manduvindupondu View Post
My preference of best Credit cards- Citibank, Indusind, Axis, Kotak.
Never go for ICICI, StanChart, Andhra Bank, Amex, HDFC, RBL, SBI.
I beg to disagree as far as StanChart is concerned. I was with Grindlays and now StanC and never had an issue in over two decades.
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Old 25th December 2014, 09:01   #1828
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Default Re: The Credit Card Thread

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Originally Posted by Gannu_1 View Post
The fuel expenses have shot up recently (paid over 5k this month alone!) and I prefer to swipe the credit card at the outlet. It looks like the bank is levying fuel surcharges for each swipe. Iíve decided to opt for a card which offers savings on fuel expenses.
Fuel surcharge was the primary reason I stopped using my ICICI credit card and moved over to HDFC. ICICI started charging me fuel surcharge one fine day without any intimation and I caught it in my monthly statements back then. Upon calling the customer care, they informed that the terms and conditions have changed and it would be chargeable from then on.

Never had an issue with HDFC credit card so far, though their net banking portal and rewards catalog are really not up to the mark.

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Originally Posted by amoghchaphalkar View Post
From what I have been told is, when your application is reviewed, banks look at the "% of total credit limit consumed" rather than the total credit limit itself.
I've been offered credit limit enhancements several times but I've always rejected it and kept it at the range that I might normally need to use. Would that affect my credit rating, since I might be using up a much higher % of my credit limit, though I'm probably eligible for a limit that is roughly 5 times my current limit or more?
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Old 25th December 2014, 23:31   #1829
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Default Re: The Credit Card Thread

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Originally Posted by Gannu_1 View Post
I have an ICICI Coral credit card from May 2013. It looks like the bank is levying fuel surcharges for each swipe. Iíve decided to opt for a card which offers savings on fuel expenses. Filled up the details on ICICIís website and there is an option to upgrade the existing card or get another one. Decided to upgrade the current one. Expecting a callback in the next few days. Letís see how this goes.
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Originally Posted by zenren View Post
Fuel surcharge was the primary reason I stopped using my ICICI credit card and moved over to HDFC. ICICI started charging me fuel surcharge one fine day without any intimation and I caught it in my monthly statements back then. Upon calling the customer care, they informed that the terms and conditions have changed and it would be chargeable from then on.
Hi, I use a ICICI coral HPCL co-branded card, and here is how it works: firstly fuel surcharge is levied (2.5%) and then I get a cash back (5%), so I get a 2.5% cash back actually. Am sure you can make this out from ICICI's website. The only catch is that you need to stick to HPCL bunks only. Although HPCL & ICICI have a tie-up on the card terminals, it is best to specify the bunk attendant to swipe only on ICICI terminals to avail this cashback.
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Old 26th December 2014, 00:43   #1830
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Default Re: The Credit Card Thread

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Originally Posted by gearedup View Post
Hi, I use a ICICI coral HPCL co-branded card, and here ....
Do you have any annual fee (or joining fee) on this card of yours?

I have a life-time free HPCL co-branded gold card. They have now sent across this coral HPCL card, with a rider for min annual spend or pay annual fee. I do not recollect any statement of 5% cash back for fuel in the welcome letter. I am arguing with them on how can they cheekily send a new card with fee without my consent (and now they claim it is for free). - here (The Credit Card Thread)

Can you cross-check again on the charges & cashback and confirm back?

Last edited by null : 26th December 2014 at 00:44.
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