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Old 21st February 2011, 15:43   #556
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Default re: The Credit Card Thread

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Originally Posted by dhanushs View Post
The rule is effective from March 1st.

The thing is that, you still can make purchases using your PayPal, but cannot pull money from CC to PayPal account. When you purchase, the money goes directly to the sellers account, and does not stay in your PayPal account.

Also, if you are the seller, the maximum limit for a transaction is $500, and you cant keep the money in your PayPal account for more than 7 days, upon which PayPal will automatically transfer the money to the registered bank.

And PayPal charges 4% for incoming funds. Pretty high.
Did anyone got any similar mails from Paypal? Unfortunately I've deleted it from my in-box. What I understood is, future transactions should be through the banks only rather routing through Paypal.

Paypal never charged anything extra other than the markup value on each transaction. Few months back I made some purchases through Amazon.com and the bill amount was $114.58 and my card was having a debit of 5415.42 for the same transaction without anything extra charges. Another purchase was from Dealxtream.com for $17.77 which was duely debited to my card for Rs.811.69. I think its quite reasonable when compared to sending funds through the banks. If Paypal can be utilized now then I dont mind in using it.

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Originally Posted by NK@Hyd View Post
I believe the restriction is on Paypal balance, which we can no longer
use to pay and have to transfer to our bank account within 7 days.

You can still pay through Paypal if you have a credit card attached to it,
the amount will be debited directly from the card.

And of course, the $500/transaction limit for sellers.
I don't know whether Paypal holds the money with them once they charge on our card. As long as its not disturbing my shipping dates I am not bothered about it

Will any one keep funds with Paypal account if they have a facility of linking the card as alternative fund source?
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Old 21st February 2011, 15:46   #557
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Default re: The Credit Card Thread

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Originally Posted by dhanushs View Post
And PayPal charges 4% for incoming funds. Pretty high.
I remember paypal waiving the commission (for pulling to bank a/c) ever since the pulling of fund to credit card is done with.
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Old 21st February 2011, 16:05   #558
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Default re: The Credit Card Thread

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Originally Posted by sajjt View Post
Paypal never charged anything extra other than the markup value on each transaction. Few months back I made some purchases through Amazon.com and the bill amount was $114.58 and my card was having a debit of 5415.42 for the same transaction without anything extra charges. Another purchase was from Dealxtream.com for $17.77 which was duely debited to my card for Rs.811.69. I think its quite reasonable when compared to sending funds through the banks. If Paypal can be utilized now then I dont mind in using it.
PayPal doesn't charge you anything when you make the payment to the seller/website. Its only the seller gets charged from PayPal.

BTW when you make any payments other than INR then the bank will charge you 3.5% extra as currency conversion charges which will be included in the total amount.
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Old 21st February 2011, 18:49   #559
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Default re: The Credit Card Thread

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Originally Posted by sajjt View Post
Did anyone got any similar mails from Paypal? Unfortunately I've deleted it from my in-box. What I understood is, future transactions should be through the banks only rather routing through Paypal.
Yes, here it is. https://www.paypal-apac.com/india/

Quote:
Originally Posted by sajjt View Post
Paypal never charged anything extra other than the markup value on each transaction. Few months back I made some purchases through Amazon.com and the bill amount was $114.58 and my card was having a debit of 5415.42 for the same transaction without anything extra charges. Another purchase was from Dealxtream.com for $17.77 which was duely debited to my card for Rs.811.69. I think its quite reasonable when compared to sending funds through the banks. If Paypal can be utilized now then I dont mind in using it.
Its the sellers that get charged. When a client pays me $1000, only ~$955 is reflected in my account.

Quote:
Originally Posted by sajjt View Post
Will any one keep funds with Paypal account if they have a facility of linking the card as alternative fund source?
Yes, I do keep funds in PayPal for quite a time. I get paid in USD, and sometimes the conversion rates are so bad(even dropped down to 42/usd), that you need to wait till it goes up. 2Rs upon a $ translates to a loss of about 8,000 a month for me. So I wait.
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Old 23rd January 2012, 12:43   #560
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Default re: The Credit Card Thread

Guys one query!!!
If I make dollar payments using my credit card then they charge the "currency conversion fee".
Just wondering is there any way around it.
One of my friend told me that If one has a HDFC saving account then one can create a virtual credit card and use it. It won't charge the currency conversion fee.

I am taking it with a pinch of salt. What if they use a higher currency exchange for the virtual credit card? Or that some other transaction fee gets pulled in?

Anyone has used this facility for dollar payments till now?
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Old 23rd January 2012, 12:48   #561
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Originally Posted by download2live View Post
Or that some other transaction fee gets pulled in?

Anyone has used this facility for dollar payments till now?
I have used this many times and it is very convenient. It validates with most websites with minimal hassles. Some US based websites may not accept credit cards with an Indian billing address , but no such issues for the virtual card.
I am not exactly sure by how much, but I think they charge a slightly higher rate, but its within acceptable range. I will keep a track of it the next time I use it.
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Old 23rd January 2012, 12:57   #562
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Default re: The Credit Card Thread

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Originally Posted by sajo View Post
I have used this many times and it is very convenient. It validates with most websites with minimal hassles. Some US based websites may not accept credit cards with an Indian billing address , but no such issues for the virtual card.
I am not exactly sure by how much, but I think they charge a slightly higher rate, but its within acceptable range. I will keep a track of it the next time I use it.
One more question.
my Master Card is enrolled with some Master Card secure enroll program. After I make a payment it takes me to a site where I have to give in the password before the transaction is completed. How is that done in Virtual credit cards?
Or this step is redundant?
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Old 23rd January 2012, 12:57   #563
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Default re: The Credit Card Thread

It depends on the type of card. The highest rated cards do not attract forex charges from most banks.
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Old 23rd January 2012, 13:00   #564
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Default re: The Credit Card Thread

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Originally Posted by download2live View Post
One more question.
my Master Card is enrolled with some Master Card secure enroll program. After I make a payment it takes me to a site where I have to give in the password before the transaction is completed. How is that done in Virtual credit cards?
Or this step is redundant?
That step is redundant in virtual credit cards.
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Old 6th March 2012, 09:49   #565
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Default re: The Credit Card Thread

Anybody using Citibank Platinum Credit Card ?

I have received a mail from Citibank which mentions that Citibank is withdrawing Platinum Credit Cards in a few months and all Platinum Cards would be replaced by Citibank Rewards Card.

I don't understand how and why a particular series of Credit Cards can be withdrawn suddenly by the company.

Rohan
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Old 6th March 2012, 10:02   #566
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Default re: The Credit Card Thread

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Originally Posted by rohan_iitr View Post
Anybody using Citibank Platinum Credit Card ?

I have received a mail from Citibank which mentions that Citibank is withdrawing Platinum Credit Cards in a few months and all Platinum Cards would be replaced by Citibank Rewards Card.

I don't understand how and why a particular series of Credit Cards can be withdrawn suddenly by the company.

Rohan
I too got the same mail from Citibank. I am yet to reply with an acceptance for this. Apparently they are making Platinum cards to be issued only with an annual fee and in tie up with companies such as IOC. I still see ads of IOC Platinum cards on their site. So they are not withdrawing it altogether.
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Old 6th March 2012, 10:13   #567
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Default re: The Credit Card Thread

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Originally Posted by rohan_iitr View Post
Anybody using Citibank Platinum Credit Card ?

..............

Rohan
I too got the same email and replied with confirmation and already got the message yesterday that the new card is dispatched.
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Old 6th March 2012, 10:57   #568
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Default re: The Credit Card Thread

i too use a citi platinum card ,however yet to get any mail anyways mine is expiring in april'12.
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Old 6th March 2012, 11:08   #569
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Default re: The Credit Card Thread

I am also using a Citibank Jetairways Platinum Card. Have not yet received any such mail from them.
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Old 6th March 2012, 11:13   #570
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Default re: The Credit Card Thread

Before giving confirmation for converting Citibank Platinum Credit Card to Citibank Reward Card, please redeem your reward points.

The reward points have more value when they are associated with the Platinum card as compared to Reward card.

For example, a Tata Sky Recharge Voucher worth Rs 500 can be redeemed for 500 reward points when on a Platinum card, whereas the same voucher would cost you 1400 points when on Reward card.

Before giving confirmation for converting Platinum card to Reward card, I have redeemed all my Platinum reward points for Tata Sky recharge vouchers.

Rohan
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