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Old 19th November 2010, 14:02   #496
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Gansan, That CC is a dream card! What are the annual charges for this card?
Why is it a dream card?

Last edited by carboy : 19th November 2010 at 14:03.
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Old 20th November 2010, 16:02   #497
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Why is it a dream card?
It is a dream card because only this card regularly has offers for 1+1 movie tickets on bookmyshow, special discounts for airlines, special discounts at many restuarants across the country and many more such offers which is not there for other card holders.

It has 2.25 Lakh balance minimum and these card holders get special deposit, loan and card amount transfer rates etc.

Hence, its a dream card for sure
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Old 20th November 2010, 16:09   #498
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It has 2.25 Lakh balance minimum and these card holders get special deposit, loan and card amount transfer rates etc.
What do you mean by 2.25 Lakh Balance minimum? Is this a compensating savings account you have to hold with a 2.25 Lakhs balance? Or a mix of Savings + FD? Or something else?

What kind of special deposit rates do you get on this card?
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Old 20th November 2010, 16:12   #499
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What do you mean by 2.25 Lakh Balance minimum? Is this a compensating savings account you have to hold with a 2.25 Lakhs balance? Or a mix of Savings + FD? Or something else?

What kind of special deposit rates do you get on this card?
Sorry, my bad. I meant the card limit is minimum 2.25 Lakhs and can go up to 3 lakhs limit as well depending on customer profile.

HDFC provides special car loan, home loan, Balance transfer rate purely on customer profiling and when you hold a Visa Platinum Signature card. That's enough to prove that your one of their esteemed customers.

Unfortunately most customers holding this card dont know that they can negotiate and avail better interest rates for almost every retail product offering from HDFC flashing this card
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Old 20th November 2010, 16:27   #500
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Sorry, my bad. I meant the card limit is minimum 2.25 Lakhs and can go up to 3 lakhs limit as well depending on customer profile.

HDFC provides special car loan, home loan, Balance transfer rate purely on customer profiling and when you hold a Visa Platinum Signature card. That's enough to prove that your one of their esteemed customers.

Unfortunately most customers holding this card dont know that they can negotiate and avail better interest rates for almost every retail product offering from HDFC flashing this card
Ok - asking because HDFC offered me pretty much any choice of credit card. Since I hardly use a credit card or a debit card, I asked them to give me one with a very low upper limit - they still dumped a Platinum Plus on me. I was wondering if it's worth upgrading to this signature card.
The movie thing - I think I get that already through somewhere - I have seen small pamphlets in my mail along with something else advertising the same - need to check. I am not in the market for a loan - so that's also not worth it.

About deposits - if you look around, you can get atleast 1.5% more than HDFC on term deposits in a lot of the smaller banks. I am pretty sure the signature card won't match that.
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Old 20th November 2010, 18:46   #501
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Originally Posted by carboy View Post
Ok - asking because HDFC offered me pretty much any choice of credit card. Since I hardly use a credit card or a debit card, I asked them to give me one with a very low upper limit - they still dumped a Platinum Plus on me. I was wondering if it's worth upgrading to this signature card.
The movie thing - I think I get that already through somewhere - I have seen small pamphlets in my mail along with something else advertising the same - need to check. I am not in the market for a loan - so that's also not worth it.

About deposits - if you look around, you can get atleast 1.5% more than HDFC on term deposits in a lot of the smaller banks. I am pretty sure the signature card won't match that.
Platinum Plus is pretty common but, it too has a good limit ( 2. 25 Lakhs). So, if they offer the Visa Signature then take it. You never know how and when it will be useful.

With regards to deposits i agree that smaller ( you mean nationalised?) give a better deposit rate.

I know it best because just this morning FD'd a "tidy sum" at 9% rate with interest on same is put back in a recurring deposit that will also earn a 9% interest for a period of 555 days ( minimum period) with Indian Overseas Bank

Last edited by mobike008 : 20th November 2010 at 18:48.
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Old 20th November 2010, 19:13   #502
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Platinum Plus is pretty common but, it too has a good limit ( 2. 25 Lakhs). So, if they offer the Visa Signature then take it. You never know how and when it will be useful.
Yet another story of HDFC Bank, I own a credit card for 4-5 years, never been late on payment and give a business of not less than 10 lakhs on two cards, a year to bank, and guess what I've been recently upgraded to Titanium Card and limit is Rs.40k, thats pretty bad.

I am kinda fed up with this banking practice, as everynext day i've to top up the card to be able to do business.
however in my town, all other banks don't offer credit card so I've to tolerate this. please do not suggest S.B.I i would not take that card in any case.

Can Anybody tell me, if i can get a card from another bank at different city based on my excellent card payment history on existing cards.
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Old 20th November 2010, 21:46   #503
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Sorry, my bad. I meant the card limit is minimum 2.25 Lakhs and can go up to 3 lakhs limit as well depending on customer profile.

HDFC provides special car loan, home loan, Balance transfer rate purely on customer profiling and when you hold a Visa Platinum Signature card. That's enough to prove that your one of their esteemed customers.

Unfortunately most customers holding this card dont know that they can negotiate and avail better interest rates for almost every retail product offering from HDFC flashing this card
Can you please elaborate more on signature card benefits?

Platinum plus was with me for years , but almost no schemes at all. Recently got upgraded to World - highest in hdfc but still no lucrative schemes.
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Old 20th November 2010, 23:18   #504
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Yet another story of HDFC Bank, I own a credit card for 4-5 years, never been late on payment and give a business of not less than 10 lakhs on two cards, a year to bank, and guess what I've been recently upgraded to Titanium Card and limit is Rs.40k, thats pretty bad.
Can Anybody tell me, if i can get a card from another bank at different city based on my excellent card payment history on existing cards.
I would suggest that you get a card with an Annual fee. Banks will be more helpful and ready to issue the card and you will get good offers.

I use this card - Jet Airways India | JACC Platinum

IMO - this is good value if you/your family travels by air atleast a couple of times every year.
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Old 21st November 2010, 00:10   #505
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Originally Posted by mobike008 View Post
Platinum Plus is pretty common but, it too has a good limit ( 2. 25 Lakhs). So, if they offer the Visa Signature then take it. You never know how and when it will be useful.
I hardly ever use CC or Debit cards. My debit cards have 0 Merchant limit on them - they can only be used as ATM cards. I use the credit card may be twice a year on the averge.

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Originally Posted by mobike008 View Post
With regards to deposits i agree that smaller ( you mean nationalised?) give a better deposit rate.
Not necessarily nationalised.

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Originally Posted by mobike008 View Post
I know it best because just this morning FD'd a "tidy sum" at 9% rate with interest on same is put back in a recurring deposit that will also earn a 9% interest for a period of 555 days ( minimum period) with Indian Overseas Bank
IOB doesn't give 9% - I had checked their website just last week & I was also in the branch a few weeks back. Unless they have revised it very recently & not updated the website yet.

Welcome to IOB - Rates At a glance


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Can Anybody tell me, if i can get a card from another bank at different city based on my excellent card payment history on existing cards.
What do you mean "Excellent card payment history"?
Do you pay in full or parts? Banks love people who don't pay full.

Last edited by carboy : 21st November 2010 at 00:15.
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Old 21st November 2010, 01:23   #506
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Do you pay in full or parts? Banks love people who don't pay full.
Someone told me this as slight misconception; banks love people who take short term EMI's, hate people who delay their payment or don't pay full & non-EMI & stay neutral with people who pay ontime everytime. That is true only in US.

@Mobike - would like to get a concrete info from you

Last edited by aargee : 21st November 2010 at 01:25.
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Old 21st November 2010, 11:27   #507
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IOB doesn't give 9% - I had checked their website just last week & I was also in the branch a few weeks back. Unless they have revised it very recently & not updated the website yet.

Welcome to IOB - Rates At a glance
Sure, i am aware no bank offers 9% for deposits.

Yesterday, i deposited a large sum at 9% with IOB under my mom's name ( she is 60 ) where there is a special scheme for senior citizen. Actually for senior citizen it's 8.75% but, within the bank there is another scheme called SECS ( something like that) and they offer additional 0.25% making it to 9%

And, you can FD a maximum of 15 lakhs ONLY in this scheme.

We reached that limit yesterday


Quote:
Originally Posted by aargee View Post
Someone told me this as slight misconception; banks love people who take short term EMI's, hate people who delay their payment or don't pay full & non-EMI & stay neutral with people who pay ontime everytime. That is true only in US.

@Mobike - would like to get a concrete info from you
Been using a card from close to a decade and my monthly card billing ranges from Rs.30,000-Rs.50,000. Till date, i have not carried forward a single rupee to next month.

Irrespective of the amount, i pay in full.

It's a misconception that credit card companies love people who pay in parts so they can extract interest fee from them. Its a huge risk they are running hence, they love people who have excellent payment history. In any case, they make their money from selling the swipe machines, charging the merchant etc. That's purely my understanding, i could be wrong.

I like HDFC bank because i have a personal banker who ensures that i get the best of deals for every retail product they offer based on my history ( which is a long one) with them. My personal banker even goes to extent of calling the branch that i visit ( which i dont often) to give me prefrential treatment. Tell me which bank offers this service?
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Old 21st November 2010, 11:43   #508
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It's a misconception that credit card companies love people who pay in parts so they can extract interest fee from them. Its a huge risk they are running hence, they love people who have excellent payment history. In any case, they make their money from selling the swipe machines, charging the merchant etc. That's purely my understanding, i could be wrong.
The best customer for a bank is someone who has never defaulted or paid late but keeps a revolving credit - if you check the rates on balances are usually in the usury range - banks make a lot of money from this.

Credit Cards serve 2 purposes from a banks point of view
- It's bill discounting at one end.
- On the other end, it's a low overhead loan product.
So obviously they like customers who use the loan part of the credit card by not paying in full.
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Old 23rd November 2010, 16:13   #509
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Food for thought:

NY Times Exec: Credit Cards Make People Beautifully Ignorant Of Their Spending - The Consumerist
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Old 23rd November 2010, 21:59   #510
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I have been using a Citibank VISA card for the last 2 years. Today, I used the card at a restaurant during my lunch time.

The big mistake that I did was that the card was not swiped in front of me

It has happened after the card was used here. It is very clear that some one has stolen my card details.

There is also a possibility that some one hacked the hotel's credit card network and the merchant is innocent.

This evening, at around 9 PM I got a call from Citibank indicating some strange transactions on my card. I immediately confirmed them as fraud.

The following are the transactions:


white caps - looks like a motel - for 8$ - Now cancelled according to Citibank

colfax market place - 226 Rs / 5$
tommy hilfiger - 1 re
pay billing.com - 1 re
payrknet.com - 88 rs 48 / 2$
gery store - 3327.99 / 60$ - There seems like no website with this name.

All of the transactions seem like from the US online merchants.

Also, when I google searched pay-rk net.com, I found that there have been reports of fraud from this site by many users.

I also doubt if these transactions were made by a person as they seem very irrelevant.

I blocked the card immediately.

When I logged into the Citibank online banking site, I was not able to see these transactions. It could be that it takes time for the transaction to get cleared and the payment to be credited to the Merchant.

I checked with Citibank thru Phone and they told me I should raise a dispute. They will send a form which I should return to them.

If they find a Fraud upon Investigation, they will refund my amount.

I'm worried if my card was used for anything illegal, is it possible?????

What are the next steps I should do, PLEASE HELP!
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