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Old 20th March 2012, 18:52   #631
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Default re: The Credit Card Thread

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Originally Posted by Gadgetfreak View Post
But as far as I remember, Citibank before confirming transaction asks for a OTP or a special code which someone will know only if you have shared it with them.
You can enter your netbanking password (either credit card login or linked debit card login) for this additional layer of security identification. Even the OPT comes on the registered mobile number only. It must be an international transaction coz the fraudster would either need your netbanking password or mobile phone to get this done.

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Originally Posted by vasoo View Post
I have my salary account with Citibank for the last 12 years and I got the same mail what rohan got. So it has nothing to do with it. I checked it with them and the mail clearly says that they are phasing out their Regular Platinum card from July which is also now not seen on their website. The specialty Platinum cards such as Jet Airways, IOC etc will continue.
Have had the Citi Platinum card for close to 5 years now. No such email in my mailbox.

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Originally Posted by joshguy View Post
Hi All,

How good is amex charge card,does anyone in the fourm uses it?

i ve applied for amex charge card ,you need to pay the months expenditure in full once the bill is generated so there is no question of minimum balance and intrest.

I applied because the rewards looks lucarative,like 4 swipes in a month (above Rs250) you get 1000 points and usual 1 point for 100Rs..so if you accumulate 12k points you can opt for airticket ect and 25k you get tissot watch which i am aiming for
I got the Amex gold card (charge card since you pay the entire amount in full every month) last year. I find my other cards like Manhattan much more rewarding than Amex. And yes I do manage to swipe it 4 times to atleast earn the extra 1000 reward points. Don't think I will renew it in April when the time comes if there is an annual fee to be paid (fee was waived for the first year only).

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Originally Posted by sgiitk View Post
I get my salary through SBI. Also, access to Income Tax (payment, 26AS etc) are not available through foreign banks.
A number of private as well as foreign banks now carry the option to view Form 26AS and make tax payments (direct as well as indirect taxes). I've been using my Citibanking account for the last 3 years to pay direct taxes. It is seamless.

Last edited by nkapoor777 : 20th March 2012 at 18:56.
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Old 25th May 2012, 10:30   #632
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Default Higher credit limit offer from bank - do I take it?

I barely use my credit card (for petrol, bill payments and if necessary, for a large purchase that I can pay within the billing cycle). I've never missed a payment (except once this year as I was travelling and forgot). Maybe this has encouraged the banks to offer me a higher credit limit. (currently 1L - they want to make it 2L). I keep declining this.

Here's where I need your advice:

We maybe going for a home loan in the next few months and also we'll be getting into a car loan sometime within the next 1-2 months. So, do banks view customers with higher credit limits favorably? On one side, I feel that if I carry a higher credit limit, I am seen as a potential threat to the bank because of my exposure. Conversely, if I don't carry enough credit limit, the banks may think that I haven't been offered their confidence and so may not be favorable to my other applications.

I've heard that CRISIL tracks your credit / payment history and provides a credit score / report to the banks when we apply for home loans. Is this true? In that case, does my credit limit affect the bank's view in issuing me a loan? Please advise.
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Old 25th May 2012, 10:37   #633
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Default Re: Higher credit limit offer from bank - do I take it?

Sir, please stay away from this type of offer.
If you are going for a home loan, then generally bank do not like who are using credit card with higher credit limit.

Note :- This is my personal experience. SBI / HDFC Bank declined my loan. After so much follow up i got my loan from ICICI bank with little higher interest rate.
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Old 25th May 2012, 10:37   #634
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Default Re: Higher credit limit offer from bank - do I take it?

It is always a good idea to have a higher credit limit on your card. Largely for emergencies and travel and so on.
However, it falls to the individual to remain responsible on his/ her card usage.
Like you mentioned, it is best to use the credit card like a charge card/ cash substitute. Pay the entire outstanding amount (s) by the due date (s) and never rotate credit.
A credit card loan is simply the most expensive loan in the marketplace, hence, avoid the same.
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Old 25th May 2012, 12:09   #635
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Default Re: Higher credit limit offer from bank - do I take it?

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Originally Posted by KALINGA View Post
generally bank do not like who are using credit card with higher credit limit.
Are you sure of that, i personally do not think it is so.
What they don't like is high outstanding amount on credit card pending or some dispute regarding payments. Other than that they are not really bothered with the credit limit on your card.
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Old 25th May 2012, 14:38   #636
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Default Re: The Credit Card Thread

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Originally Posted by shankar.balan View Post
It is always a good idea to have a higher credit limit on your card. Largely for emergencies and travel and so on.
However, it falls to the individual to remain responsible on his/ her card usage.
Like you mentioned, it is best to use the credit card like a charge card/ cash substitute. Pay the entire outstanding amount (s) by the due date (s) and never rotate credit.
A credit card loan is simply the most expensive loan in the marketplace, hence, avoid the same.
I think any significant emergency can definitely get covered in 1L limit. And I am not talking about a credit card loan. I wanted to know if my credit limit affects the bank's view when they offer me a home loan or a car loan in the future.

Quote:
Originally Posted by mayankjha1806 View Post
Are you sure of that, i personally do not think it is so.
What they don't like is high outstanding amount on credit card pending or some dispute regarding payments. Other than that they are not really bothered with the credit limit on your card.
I thought the same way but am I right?
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Old 25th May 2012, 14:43   #637
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Default Re: The Credit Card Thread

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Originally Posted by Mad Max View Post
I think any significant emergency can definitely get covered in 1L limit. And I am not talking about a credit card loan. I wanted to know if my credit limit affects the bank's view when they offer me a home loan or a car loan in the future.
I don't think credit limit will play any role.

I have a bunch of credit cards. All have slightly high limits but no overdue payments. I don't even know the ATM pins as I will never use them for a cash loan.

Took a home loan last month. Had no issues. In fact it went smoother than I anticipated.
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Old 3rd June 2012, 17:05   #638
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Default Re: The Credit Card Thread

Attention Manhattan users:
Latest statement that I received says that from July 1st, minimum purchase needed for 5% cashback has been increased from Rs 500 to Rs 1000
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Old 3rd June 2012, 18:53   #639
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Default Re: The Credit Card Thread

I have to say that the best credit card I have had till now is AbnAmro (Now RBS). They are one of the few select ones who allow the users to convert the reward points directly to cash.
X reward points= X Rs discount in the bill.
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Old 3rd June 2012, 19:03   #640
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Default Re: The Credit Card Thread

I received a letter from HDFC that I don't need to pay my May and June bills till July.
Its some sort of an interest free period.

So whats the catch?
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Old 3rd June 2012, 21:23   #641
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Default Re: The Credit Card Thread

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Originally Posted by bblost View Post
I received a letter from HDFC that I don't need to pay my May and June bills till July.
Its some sort of an interest free period.

So whats the catch?
I was offered this almost a year back.

No catch - just a customer benefit for long term members.
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Old 3rd June 2012, 21:36   #642
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Default Re: The Credit Card Thread

The best credit card, i have used so far is American Express. I don't know many people would agree with me, but its certainly the best, espically the customer services. The only down side, its only accepted its selected places else one has to pay some extra charge
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Old 3rd June 2012, 21:54   #643
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Default Re: The Credit Card Thread

In today's time of high inflation, high fuel prices the Standard Chartered Super Value Titanium Card is probably one of the best credit cards out there : Standard Chartered Bank India - Personal Banking - Cards - Super Value Titanium Card
-5% Cash back on fuel across all pumps
-5% Cash back on telecom bills
-5% Cash back on utility payments

Plus you get reward points !!
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Old 3rd June 2012, 22:47   #644
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Default Re: The Credit Card Thread

Quote:
Originally Posted by rajesh1868 View Post
Attention Manhattan users:
Latest statement that I received says that from July 1st, minimum purchase needed for 5% cashback has been increased from Rs 500 to Rs 1000
I can confirm this. Same was noticed in my statement as well i.e. minimum of Rs.1000 to qualify for 5% cash back from July 1st.

@Rajesh1868: Where can I see the list of shops which qualify for cashback? I tried their website but no luck.
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Old 3rd June 2012, 22:57   #645
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Default Re: The Credit Card Thread

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Originally Posted by amoghchaphalkar View Post
In today's time of high inflation, high fuel prices the Standard Chartered Super Value Titanium Card is probably one of the best credit cards out there
Does it have any Annual fees?
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