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Old 6th March 2012, 16:51   #586
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Default re: The Credit Card Thread

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Originally Posted by jingaboysr View Post
I think this information is not true. I have a citibank platinum credit card for the past 3 years. It expired last month, they had promptly sent a replacement card before the expiry date.
Same is the status in my case. As already mentioned, I hold a Jetairways Platinum Credit Card from citibank which is expiring in April, They have already sent a mail to me confirming that a new card will be sent soon as replacement for existing card.
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Old 6th March 2012, 17:23   #587
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Default re: The Credit Card Thread

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Originally Posted by sgiitk View Post
Standard Chartered Visa Infinite. I think most cards labelled as 'Black' have this. Ditto for my Visa Platinum ATM cum Debit card from the same bank.
It does have a markup of 5%. 3.5% is explicit transaction fee and 1.5% is bid-ask spread.

Fine Print:

Quote:
All overseas transactions are levied with a 3.5% transaction fee. This includes charges paid out to Visa / MasterCard for converting
overseas transactions into INR
Source : Standard Chartered Bank India - Personal Banking-Cards -Visa Infinite Credit Card (Click Details->"Tarrifs & charges")

Actual benefit:

No service charge for ATM withdrawals that are done outside India.
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Old 6th March 2012, 17:24   #588
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Default re: The Credit Card Thread

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Originally Posted by maverhick View Post
Can you name a few? We do a ton of forex transactions on our card and would prefer to avoid the 3.5% forex surcharge charged by most providers.
All Credit Cards apply FCY Surcharge varying from 3-3.5%. The only exception is the HDFC Bank Regalia Card that applies 2%.
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Old 6th March 2012, 17:38   #589
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Default re: The Credit Card Thread

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Originally Posted by vnabhi View Post
AFAIK Citibank Platinum credit cards are tied up with VISA, while Citibank Titanium credit cards are tied up with Mastercard.
I have the latter and am happily enjoying zero surcharge in Indian Oil bunks, apart from a host of turbo points every year.
Yes at Indianoil bunks there is no fuel surcharge on the Titanium Mastercard.
For the Platinum also it applies but has to be swiped on the Citibank machine.
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Old 7th March 2012, 09:08   #590
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Quote:
Originally Posted by Gadgetfreak

Same is the status in my case. As already mentioned, I hold a Jetairways Platinum Credit Card from citibank which is expiring in April, They have already sent a mail to me confirming that a new card will be sent soon as replacement for existing card.
Same here, got my City Platinum Card got renewed last week without any change.
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Old 7th March 2012, 09:23   #591
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Default re: The Credit Card Thread

Quote:
Originally Posted by jingaboysr View Post
I think this information is not true. I have a citibank platinum credit card for the past 3 years. It expired last month, they had promptly sent a replacement card before the expiry date.
The mail has come from the official citibank email id.

Following is an excerpt from the email which I have received

From: "Citibank India" <india.marketing@citi.com>
Subject: Action Required: Withdrawal of Your Citibank Platinum Credit Card

As you are a valued Citibank Cardmember, we are replacing your Citibank Platinum Card with the Citibank Rewards Card - a VISA Platinum Card that comes to you at zero annual card fee.

Please note: Citibank will be phasing out the Citibank Platinum Card effective 31st July 2012.

Like someone mentioned above, I think Citibank is phasing out lifetime free Platinum credit cards.

Is your Platinum card a life time free card, or do you pay annual fee ?

Rohan
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Old 7th March 2012, 09:26   #592
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Default re: The Credit Card Thread

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Originally Posted by rohan_iitr View Post
Is your Platinum card a life time free card, or do you pay annual fee ?
Mine is a lifetime free card. If they decide to charge me, I'll cancel the card right away. Do you have your salary account with Citibank? I have mine there, that *MIGHT* be a reason they are still offering me this.
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Old 7th March 2012, 09:38   #593
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Default re: The Credit Card Thread

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Originally Posted by jingaboysr View Post
Mine is a lifetime free card. If they decide to charge me, I'll cancel the card right away. Do you have your salary account with Citibank? I have mine there, that *MIGHT* be a reason they are still offering me this.
I don't have salary account with Citibank.

I think you are correct, Citibank is still offering you life time free platinum card because you hold a salary account with them.

So contrary to what Citibank has conveyed in the email, it seems they are not phasing out the Platinum card completely. They will now offer it only to selected customers.

Rohan
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Old 7th March 2012, 10:36   #594
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Default re: The Credit Card Thread

Quote:
Originally Posted by rohan_iitr View Post
I don't have salary account with Citibank.

I think you are correct, Citibank is still offering you life time free platinum card because you hold a salary account with them.

So contrary to what Citibank has conveyed in the email, it seems they are not phasing out the Platinum card completely. They will now offer it only to selected customers.

Rohan

Hi All,

The card that I hold also is a life time free card though i don't hold any salary account with them. Actually the time when they had offered me this card they informed me that first year fee is waved off, but while speaking to me by mistake they informed me that for me it will be a life long free card and just to ensure i crossed check with the agent on call twice and she confirmed. After one year i was charged yearly subscription fee and when i refused to pay they informed me that it is mandatory and no one else is offered a free Jetairways Platinum card without subscription for second year, still when i refused they informed me that as an exception they can wave off second year subscription, i asked them to retrieve the recording and cross check, if life long free subscription was not offered then I don't want any waiver for second year as i will have to pay from third year and instead I would prefer closing the card. On cross checking they found that my claim of life long free card were right and they promptly reverted the charges. I asked them to send a mail confirming life long free card in order to avoid such an issue in future.
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Old 7th March 2012, 12:09   #595
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Default re: The Credit Card Thread

@NetFreak; 3.5% or whatever is the charge for the sellers bank and buyers bank on all transactions on a Credit Card, anywhere in the world (incl. in India). It is higher on Amex. So this is normal. What is saved is the additional forex change which you do not pay.
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Old 7th March 2012, 12:24   #596
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Default re: The Credit Card Thread

I too hold a Citibank Platinum card which is free for life time. I don't have any other account with them. I am a member since 1994 and initially held a silver card with annual membership fee. At various points of time it has been upgraded and since 2003 it became a Gold card, when the fee was waived. It was upgraded to Platinum a few years ago.

But ever since it became free, the free accident insurance was done away with (holds good for my HDFC Signature card as well). What are they replacing it with? What is this rewards card? My card already has a rewards scheme!
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Old 7th March 2012, 12:32   #597
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Default re: The Credit Card Thread

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Originally Posted by sgiitk View Post
@NetFreak; 3.5% or whatever is the charge for the sellers bank and buyers bank on all transactions on a Credit Card, anywhere in the world (incl. in India).
No.

That is a different charge and is not paid by the buyer. This 3.5% is the charge that is levied on the buyer.

E.g:

You buy something for USD 10. If forex rate for USD/INR is 50 buyer should be charged 500 Rs.

But, bank would charge 500+3.5% to buyer. This 3.5% is applicable to ONLY overseas transaction.

If you purchase something worth 500 in India, you only need to pay 500.
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Old 7th March 2012, 12:34   #598
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Default re: The Credit Card Thread

Can anyone list the hierarchy of the cards?

-Silver
-Gold
-Platinum
-Titanium/World
-Signature
-Regalia ??

This is for HDFC credit cards.
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Old 7th March 2012, 14:09   #599
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Default re: The Credit Card Thread

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Originally Posted by Gansan View Post
But ever since it became free, the free accident insurance was done away with (holds good for my HDFC Signature card as well). What are they replacing it with? What is this rewards card? My card already has a rewards scheme!
First of all, have you received any email from Citibank regarding converting Platinum card to Reward card ? If no, you don't have to bother.

Citibank Reward credit card is just another type of credit card from Citibank, just like silver car, gold card, platinum card etc.

Most of the terms and conditions would remain the same as your previous card. If I understand correctly, the only difference is in the way reward points are accumulated and redeemed. (Monetary value of reward point may be different for different type of cards)

Rohan
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Old 7th March 2012, 14:21   #600
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Default re: The Credit Card Thread

@NetFreakBombay; In this case the seller absorbs the 3.5%. In the late 90's many mail order companies were charging 2.5% for Visa/MC and 3.5-4% on Amex. The card companies frowned on this. Even then in the UK from many small businesses if you paid cash you could get 2% or so off.
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