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Old 21st November 2016, 19:42   #2281
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I am pretty sure some of the information you got is outdated, even for the US scene.
Thanks, do you know similar information for India and CIBIL?
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Old 21st November 2016, 20:13   #2282
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Thanks, do you know similar information for India and CIBIL?
Actually India and CIBIL operates on a much similar system.

You might be aware that there are 3 major credit bureaus in US: Equifax, Experian and TransUnion. They all operate on the principles that I briefly touched upon.

CIBIL was created by TransUnion, along with some Indian financial institutes and the above basics hold true for Indian credit score scene as well.

I actually verified this by checking my credit score in intervals of 2-3 days to see if my enquiries made any impact. The answer? None whatsoever.
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Old 24th November 2016, 08:21   #2283
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I want to share my experience with SBI Credit cards and how they screwed up my CIBIL score, this may have been discussed already if not it should be an alarm for all who have discontinued the usage of their Credit cards. It all started when I decided to buy a car in August, 2016 and the series of events which followed later taught me how to handle the issues within CIBIL report. I have a habit of getting my CIBIL report every year, so I knew what my score was in 2015. I had requested SBI to close my credit card accounts in 2014 and they had given me a service request number which I had saved in my records. I was not getting any soft copy or hard copy of Credit card statements from 2 years and I assumed that everything was fine. Based on this confidence I applied for Car loan and after 2 days SBI rejected my loan application saying my score in Redline (below 600). I immediately purchased a new report to find out the issue, it was SBI Credit Cards which had kept my 2 credit card accounts active and billing me for insurance charges monthly and this amount piled up over 2 years and there was a big outstanding amount against my name. Initially when I called the customer care number and raised this issue, the response was very rude from the executives, they told me that unless I don't pay the money they cannot do anything. I started irritating them by making calls daily till one of the Team Lead got frustrated and used harsh words against me. I recorded this and escalated the issue to Head of Customer Care, India and also to SBI CEO Help Desk, within a week SBI apologized for the negligence on their part and closed my Credit card accounts and issued a No Due Certificate. This has not stopped yet as they have shown the Loan status as "Written off" for a paltry amount of INR 135 in my latest CIBIL report, this has caused more damage. I have once again escalated the matter to CEO Help desk and waiting for the issue to be resolved. Please get a NDC from banks if you have closed your Credit Card accounts.

Last edited by deehunk : 24th November 2016 at 08:46.
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Old 24th November 2016, 09:17   #2284
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Default Re: The Credit Card Thread

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they have shown the Loan status as "Written off" for a paltry amount of INR 135
Yes, even if you pay the complete amount they will mention as Settled which is better than Written Off but still spoils your numbers. It's better to pay little extra to these guys and forgot, as of now there are limited options especially if you are short of time and temperament to handle customer care guys. Best is to opt only for Zero Annual charge cards.
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Old 24th November 2016, 10:14   #2285
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I want to share my experience with SBI Credit cards and how they screwed up my CIBIL score, this may have been discussed already if not it should be an alarm for all who have discontinued the usage of their Credit cards.
Your post has sent my alarm bells ringing...

When I got my SBI Card a long time ago, it came with a host of features: 1) IRCTC bookings without service charge, 2) no-limit fuel surcharge waiver, and 3) balance transfer for 2 months for just a 1% transfer fee (something like 6% per year or less depending on how you gamed it).

By end of 2014, most if not all of these features had gone. For instance, I got hit by fuel surcharge waiver a few times before I realized that I had to operate within a narrow range to get the waiver, so I moved on to the Citibank Indian Oil card.

Now here's the interesting part about SBI Card. I have been trying to close this card for the past 2 years. In email conversations, they come up with new offers and keep going back and forth but when I finally ask them to close, they do not respond. Last time I remembered a few months back, they claimed the account is dormant now and is as good as closed.

I wanted to ask, is anyone here using SBI still? Is there any card from them that is worth holding on to?

If not, I might as well get on the horn with them today and put an end to this saga.
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Old 24th November 2016, 16:47   #2286
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I want to share my experience with SBI Credit cards and how they screwed up my CIBIL score
Sorry to hear your experience. SBI should definitely have handled this far better.
Though most knowledgeable credit cards buyers will tell you this: Whenever you close the card, always get a No Dues Certificate from the issuer. Buyer Beware in all cases indeed.

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It's better to pay little extra to these guys and forgot, as of now there are limited options especially if you are short of time and temperament to handle customer care guys. Best is to opt only for Zero Annual charge cards.
Not at all necessary to pay anyone extra. If you have clearly documented your correspondence with your card issuer (either email or snail mail) showing you explicitly requested card cancellation and that you have paid all outstanding amount, then you can approach RBI Ombudsman and get this resolved without an extra penny. Ombudsman even has powers to order banks to repay you for any out-of-pocket expenses as well as the trouble you had to go through. I personally did this once and had a very satisfying and professional experience. Properly chronicling correspondence is the key here.

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Originally Posted by nowwhat? View Post
I wanted to ask, is anyone here using SBI still? Is there any card from them that is worth holding on to?

If not, I might as well get on the horn with them today and put an end to this saga.
I am using SBI card since 3 years, Air India SBI Signature Card- one of their highest annual fee version cards. I did not have any problems with their service so far, though some people complain about long wait times when you call customer care.
I use social media for any of my queries and they are very responsive there.
Definitely happy with the card, and crunching my numbers, I get enough value out of it to hold on to it despite its fees.

Last edited by deovrat : 24th November 2016 at 17:08.
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Old 24th November 2016, 17:13   #2287
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Default Re: The Credit Card Thread

I am using the SBI Gold & More card for a few years now. I tried their Signature card, but only after getting the card I realised that redemption of points is quite restrictive. This and a couple of other reasons, I returned to the Gold & More card.

Have not had any problems yet, but sometimes I am not sure about how things will turn out in case of any problems. Another reason I am continuing is that I am not able to find any other card that has better benefits. (Most of the cards seem to have specific benefits. ). eg: Fuel surcharge waiver - most other cards either have just 250 Rs limit, or are limited to using specific bank's swiping machines - or specific brand of fuel.
Thought I'd try HDFC Regalia, but latest feedback from users is that the benefits are being reduced.
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Old 24th November 2016, 18:07   #2288
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Thought I'd try HDFC Regalia, but latest feedback from users is that the benefits are being reduced.
Yes indeed ! If one has a Visa/Mastercard with another bank, then Diners is currently the best card to go in from HDFC's stable.
Diners is not accepted always, hence the backup.
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Old 24th November 2016, 23:00   #2289
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Default Re: The Credit Card Thread

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Yes indeed ! If one has a Visa/Mastercard with another bank, then Diners is currently the best card to go in from HDFC's stable.
Diners is not accepted always, hence the backup.
Yes, Diners is looking nice. But acceptability ? I am not able to see Diners on some of my regular sites (bus booking etc)

Any idea about acceptance at Petrol bunks - and the surcharge waiver ?

Last edited by condor : 24th November 2016 at 23:02.
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Old 25th November 2016, 06:59   #2290
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I had my first unauthorised spend on my Regalia CC. I woke up this morning with two text messaged of Rs. 500 spent at iTunes.
I've quickly blocked my card.
The iTunes account used was not my own ID, so I''l contact Apple to see what they can do. I chatted with Apple and they said I'll have to make a phonecall.
I do use iTunes to purchase gift cards quite often.
Thankfully the damage done is only 1000 Rs. which hopefully can be recovered.
One of the annoyances with iTunes is that it does have OTP or even CVV entering to purchase iTunes gift card once you register your card.

Last edited by BenjiRoss : 25th November 2016 at 07:22.
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Old 25th November 2016, 08:25   #2291
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Yes, Diners is looking nice. But acceptability ? I am not able to see Diners on some of my regular sites (bus booking etc)

Any idea about acceptance at Petrol bunks - and the surcharge waiver ?
I have had diners card for 2 years. I use it for all fuel purchases. you'll get surcharge waiver on all fuel purchases. The acceptability can be a problem though. It does work on redbus and some state transport sites that I use, can u tell me which site you are referring to?I would say it's accepted at around 70 to 80 percent outlets here in North India. Initially this can be an issue but after a while you will get to know where it's accepted and hence plan your purchases accordingly.

Last edited by bullrun87 : 25th November 2016 at 08:27.
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Old 25th November 2016, 08:47   #2292
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Yes, Diners is looking nice. But acceptability ? I am not able to see Diners on some of my regular sites (bus booking etc)

Any idea about acceptance at Petrol bunks - and the surcharge waiver ?
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Originally Posted by bullrun87 View Post
I have had diners card for 2 years. I use it for all fuel purchases. you'll get surcharge waiver on all fuel purchases. The acceptability can be a problem though. It does work on redbus and some state transport sites that I use, can u tell me which site you are referring to?I would say it's accepted at around 70 to 80 percent outlets here in North India. Initially this can be an issue but after a while you will get to know where it's accepted and hence plan your purchases accordingly.
Agree to most of above ^.
Fuel purchases have not been a problem for me so far. I use 3 HP pumps on a regular basis and all of them have HDFC POS machine, so no worries there.
Diners card is my first preference for online shopping: Flipkart, Amazon, Snapdeal, Cleartrip, MMT, Yatra, Goibibo all accept it. Incidentally spend on some of these sites even nets 10x reward points.

If some other site does not take Diners, then I whip out my alternate Visa/Mastercard.
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Old 25th November 2016, 14:30   #2293
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Agree to most of above ^.
Fuel purchases have not been a problem for me so far. I use 3 HP pumps on a regular basis and all of them have HDFC POS machine, so no worries there.
Diners card is my first preference for online shopping: Flipkart, Amazon, Snapdeal, Cleartrip, MMT, Yatra, Goibibo all accept it. Incidentally spend on some of these sites even nets 10x reward points.

If some other site does not take Diners, then I whip out my alternate Visa/Mastercard.
I don't think Amazon and ebay accept it. Have you been able to use your card on Amazon? I have always had to use my visa on Amazon. 10X reward points is perhaps the most lucrative reward system of all cards in India.
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Old 25th November 2016, 17:58   #2294
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Default Re: The Credit Card Thread

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Flipkart, Amazon, Snapdeal, Cleartrip, MMT, Yatra, Goibibo all accept it.
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I don't think Amazon and ebay accept it.
Diners is not accepted at any Amazon site, India or outside.
In fact, acceptability of Diners internationally would be a big problem, its almost non existent in most big countries outside.
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Old 25th November 2016, 18:46   #2295
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Diners is not accepted at any Amazon site, India or outside.
In fact, acceptability of Diners internationally would be a big problem, its almost non existent in most big countries outside.
Actually Amazon.Com accepts it but somehow Amazon.in does not. I order a lot of stuff online with amazon and this is the biggest issue for me with diners Club credit cards.
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