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Old 4th June 2012, 15:38   #661
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Default Re: The Credit Card Thread

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Originally Posted by ASHISHPALLOD View Post

You have to say that otherwise ------ghar me hi problem.
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Originally Posted by mobike008 View Post
Been using a HDFC World card from more than 6 years now and my monthly spend between two cards is roughly 30K-35K. And, I pay entire amount on due date, each time.

I think i read somewhere that the company for which Mrs. Mobike008 works is somehow related to HDFC CC.
I made my comment with that ref.
Correct me if i am wrong please.
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Old 4th June 2012, 15:38   #662
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Default Re: The Credit Card Thread

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Originally Posted by mobike008 View Post
HSBC : They made the maximum mistakes in statements. Even after denouncing their card by informing the call center people. I used to get a statement for nearly 2 years with some meagre amount listed in the statement and then once a year annual fee was also included in statements. I chose to ignore them and finally they stopped sending those statements.
With the CIBIL credit score being used for approving loans, I suggest you look up your CIBIL report and see if this card is closed by HSBC. I would not be surprised if its still open in the report. This can mar your credit history.
With multiple credit cards I can say its always good to check your CIBIL credit report once a year to check if the card you cancelled really is cancelled by credit card company in their system.
I had the same issue with SBI card which was closed 6 months ago and still showed up as Open and outstanding of with Rs. 225. A simple mail to SBI got them get the record straight.
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Old 4th June 2012, 15:56   #663
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Default Re: The Credit Card Thread

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Originally Posted by ASHISHPALLOD View Post
I think i read somewhere that the company for which Mrs. Mobike008 works is somehow related to HDFC CC.
You got that right Ashish. My wife heads south region for credit card quality ( New card approvals and Risk apart from a few others come under her portfolio) for HDFC Bank

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Originally Posted by bigwheelz View Post
With the CIBIL credit score being used for approving loans, I suggest you look up your CIBIL report and see if this card is closed by HSBC.
I took a bike loan from HDFC bank as recent as Dec'11. Got the loan approved in 1 day so, I dont think their is any issue in my credit history as i have been taking loans from banks regularly in last 3-4 years and never had any problems

Btw, HSBC issue was over 5-6 years ago
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Old 4th June 2012, 17:00   #664
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Default Re: The Credit Card Thread

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Originally Posted by amoghchaphalkar
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 :
-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 !!
Indeed a good card that I moved to recently after some niggling issues with ICICI. The best part is the fuel-cashback - for a filll of 2800 worth of petrol (~40litres), got back Rs71.75, which is like getting a litre of petrol free. Am not complaining.
Plus got a suprise 5%off when I bought a mobile phone at Univercell.
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Originally Posted by NetfreakBombay
Does it have any Annual fees?
No annual fees. Who in this age would even pay annual fees or joining fees for credit cards ?
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Old 4th June 2012, 18:16   #665
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Default Re: The Credit Card Thread

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Originally Posted by mobike008 View Post
"
HSBC : They made the maximum mistakes in statements. Even after denouncing their card by informing the call center people. I used to get a statement for nearly 2 years with some meagre amount listed in the statement and then once a year annual fee was also included in statements. I chose to ignore them and finally they stopped sending those statements.

HDFC Cards

1. Any issue, I call my personal banker and she gets me on a con-call with the CC department and resolves my query/issue
Mobike, you can't/shouldn't compare personal banking to normal banking. Have you experienced HSBC premier? I suggest you give it a try before making sweeping comments based on one service the bank provided to you.
Hari
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Old 4th June 2012, 18:29   #666
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Default Re: The Credit Card Thread

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Originally Posted by supremeBaleno View Post
Indeed a good card that I moved to recently after some niggling issues with ICICI. The best part is the fuel-cashback - for a filll of 2800 worth of petrol (~40litres), got back Rs71.75, which is like getting a litre of petrol free. Am not complaining.
Plus got a suprise 5%off when I bought a mobile phone at Univercell.
No annual fees. Who in this age would even pay annual fees or joining fees for credit cards ?
I am getting this for both my HDFC World Card & SBI card. Almost the same amount as what is mentioned. This is only for fuel, I think.
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Old 4th June 2012, 19:51   #667
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Default Re: The Credit Card Thread

^^^There is a surcharge-reversal and a cashback - I hope no confusion between the two.
To clarify, when we fuel up for say 1000Rs, the card statement will have the entry as 1025 where a 2.5% fuel-surcharge is added by the bank. Many banks reverse this surcharge and in which case, there will be an entry saying "Surcharge reversal - 25 CR" where Rs25 is credited to our account for the extra they initially debited.

Apart from this, some banks give a cashback of say 2.5% which will be another entry in the statement as 25CR. So, net-net, you end up paying only 975 though you fuelled for 1K.
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Old 4th June 2012, 19:59   #668
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Default Re: The Credit Card Thread

What is this American Express thing which some of you have been happy about? I have this card for the last 3 years and it hardly gets used because hardly anyone accepts it. Not only here, in Europe as well. Am planning to discontinue it this month when asked for renewal.

Am a happy customer of HDFC and Citibank. Bad experience with Standard Chartered - arrogant lot and good at twisting information.
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Old 5th June 2012, 10:47   #669
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Default Re: The Credit Card Thread

I dare to ask this question - How many credit cards does one have? And in reality how many should one have? During my initial "naukri" days, I had only HSBC and ICICI, slowly, as my companies changed, the clubbed offers that the banks and DSA's gave made me fall for the cards. Lost a fortune by swiping them left, right and center - took loan to pay off the expenses and learnt some lessons too.

Now, I am as good as debt free and sparing use my cards. I still have more than a dozen cards but prefer to use either HSBC or SBI. None of the other banks ever bothered to track my usage and increase the credit limits. My ICICI card is over 8 years old and after some haggling (threats of closing it); they increased the limit by 5 times.

I wanted to move on the debit cards but this ever rising inflation makes me stick to credit cards (with the assumption that having some cash in account for emergencies is always good).
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Old 5th June 2012, 11:33   #670
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Default Re: The Credit Card Thread

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Originally Posted by JVH
What is this American Express thing which some of you have been happy about? I have this card for the last 3 years and it hardly gets used because hardly anyone accepts it. Not only here, in Europe as well.
Japan is one place where Amex is hugely popular - you can even pay taxi fares with Amex. The Japanese for some reason have a huge American-product fixation - I remember the day when BurgerKing opened shop in Tokyo and there was a huge line of people queued up from the store out to the street.

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Originally Posted by amtak
How many credit cards does one have? And in reality how many should one have?
One internationally valid card with a decent credit limit should be good enough. It is a pain keeping track of the payment due dates of various cards. Instead identify and get a card with good features, cashback, service, points etc and stick to it.
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Old 5th June 2012, 11:38   #671
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Default Re: The Credit Card Thread

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Originally Posted by supremeBaleno View Post
One internationally valid card with a decent credit limit should be good enough. It is a pain keeping track of the payment due dates of various cards. Instead identify and get a card with good features, cashback, service, points etc and stick to it.
Yeah, that's why I am struck to HSBC and SBI. The biggest challenge as you said is keeping a track of due dates (I have stored that in my BB!) Now, I don't know what to do with the balance cards. Sometimes they too may come in handy in case either of the cards magnetic strip stops working (wallet falling in water or keeping the card accidently on a hot surface, spoiling the strip) or any anything like that.
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Old 5th June 2012, 11:46   #672
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Default Re: The Credit Card Thread

I have found that 2 is the ideal number but that's because I have never been happy with a single one of them and am apprehensive to stick to a single card. There are pros and cons for each, guess we have to find a right balance like everything else and move on. I know a friend who manages 4 but he's a pretty disciplined bloke unlike me where 3 is more and unmanageable.

Regarding the due dates, won't they send mail/sms reminders? I think every card has that option. For both my current cards (HDFC and Citibank), I get an sms on the date when the statement is generated and just 1 day prior to the due date. This helps a lot.
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Old 5th June 2012, 11:46   #673
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Default Re: The Credit Card Thread

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I dare to ask this question - How many credit cards does one have? And in reality how many should one have?

I have a total of 5 credit cards. One of them is for official expenses only.

2 cards have due dates around the first week of the month.
The other two have the due dates in the last week.

I use a Google Excel sheet to keep track of my expenses and also due dates.
I have entries for my mobile, internet and credit cards.
It lists the current due date and amount. Approx dues for the next cycle and so on.

Since its a google document, I can access it anywhere I want.
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Old 5th June 2012, 12:03   #674
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Default Re: The Credit Card Thread

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Originally Posted by bblost View Post
I have a total of 5 credit cards. One of them is for official expenses only.

2 cards have due dates around the first week of the month.
The other two have the due dates in the last week.

I use a Google Excel sheet to keep track of my expenses and also due dates.
Most of my cards have mid-month billing dates, which is somewhat confusing. I too maintain an excel sheet, just that it is MS excel sheet on expenses! My cards as below (Must have forgotten atleast 1-2 banks):
  • HSBC
  • SCB
  • Manhattan
  • SBI
  • Kotak
  • ICICI
  • HDFC
  • Indus Ind
  • Barclays
  • Citibank
With Barclays selling their unit to SCB, what happens to existing customer that have both the cards?
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Old 5th June 2012, 12:35   #675
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Default Re: The Credit Card Thread

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With Barclays selling their unit to SCB, what happens to existing customer that have both the cards?
The Barclays card will be discontinued.
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