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Old 6th June 2012, 12:55   #691
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Default Re: The Credit Card Thread

Your credit limit would be 10,000 + 500. It can take up to a week for cancellation of the charge to show up in online statements.
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Old 6th June 2012, 13:01   #692
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Default Re: The Credit Card Thread

Quote:
Originally Posted by sajo View Post
Also, how long does it take to get a refund? The merchant says he had done it at his end on 31st May. The card in question in from HDFC bank.
No action to be taken from your end since merchant has already refunded your Rs.500. Therefore, your limit would be Rs.10,000+Rs.500

Suppose this month you make a total purchase of Rs.1000 on your CC and next month in your statement the outstanding to pay will reflect as Rs.500 ( Rs.1000 worth of purchases-Rs.500 credit in your account)

Hope this clears the confusion?
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Old 6th June 2012, 13:09   #693
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Default Re: The Credit Card Thread

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Originally Posted by sajo View Post
Question.

Lets say I have a credit card with the limit of Rs.10,000. I purchase something worth Rs.500 and during the billing cycle of that month, repay it in full.
So now my credit continues to remain at Rs.10,000.
However, my purchase went bad and the merchant refunds my Rs.500 , what will be my credit limit now ?
Or will it still remain Rs 10,000 , but I wont need to repay anything for bills upto Rs.500 ? I am confused.

Also, how long does it take to get a refund? The merchant says he had done it at his end on 31st May. The card in question in from HDFC bank.
It will be a credit in you credit card. will be adjusted against your future purchases. It will stay as a credit until you make a purchase. No option to get is as cash. The credit limit will be the same.
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Old 6th June 2012, 13:19   #694
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Default Re: The Credit Card Thread

Quote:
Originally Posted by sajo View Post
Lets say I have a credit card with the limit of Rs.10,000. I purchase something worth Rs.500 and during the billing cycle of that month, repay it in full.
So now my credit continues to remain at Rs.10,000.
However, my purchase went bad and the merchant refunds my Rs.500 , what will be my credit limit now ?
Or will it still remain Rs 10,000 , but I wont need to repay anything for bills upto Rs.500 ? I am confused.
I had gone through similar incident.
I have citibank card.
2years back, i booked tickets on AirAsia worth 45k using cc.
Next month, i paid the dues to citibank.
Two months later, my flight cancelled by AirAsia, i opted for refund, AirAsia credited the amount to my CC account within a week.
Now, suppose my credit limit is 3L, after crediting the refund by AirAsia, my credit limit gone up by 45k, i.e. 3.45L.
I requested Citibank to refund the 45 k to me and they promptly sent a DD of 45 k.

Last edited by ASHISHPALLOD : 6th June 2012 at 13:26.
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Old 6th June 2012, 13:30   #695
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Default Re: The Credit Card Thread

Yep! Thanks guys!
My colleagues here were saying that they usually get their money back in 24-48 hours, so that got me a bit worried.
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Old 6th June 2012, 23:30   #696
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Quote:
Originally Posted by ASHISHPALLOD

I had gone through similar incident.
I have citibank card.
2years back, i booked tickets on AirAsia worth 45k using cc.
Next month, i paid the dues to citibank.
Two months later, my flight cancelled by AirAsia, i opted for refund, AirAsia credited the amount to my CC account within a week.
Now, suppose my credit limit is 3L, after crediting the refund by AirAsia, my credit limit gone up by 45k, i.e. 3.45L.
I requested Citibank to refund the 45 k to me and they promptly sent a DD of 45 k.
I don't understand this. How can a refund go towards enhancing of credit limit? You had already paid that bill. So when the bank used that refund to enhance your credit limit, you never (actually almost never) got your money back. Having to request refund seem odd to me. That refund from Air Asia should have been automatically (1) adjusted to pay the next bill, or (2) refunded through cheque or DD.
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Old 7th June 2012, 00:03   #697
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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
Quote:
Originally Posted by UKR View Post
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.
Oops this is not good, since I have a number of purchases at grocery stores which are between Rs. 500 - Rs. 1000.

You get 5% cash back limited to Rs. 200 per transaction at all merchants who operate under the category "Supermarkets" and "Department stores". I have been pleasantly surprised a number of times when I have received cash back in the statement when I didn't expect it. No such list on their website though.

Quote:
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 : 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 !!
Quote:
Originally Posted by amoghchaphalkar View Post
No it does not. I have so far received 5% cashback from the following merchant transactions:
- HPCL
- BPCL
- Shell
- Airtel
- Vodafone
- Maharasthra State Electricity Distribution Company

So far I haven't noticed any "ceiling" for the cashback value. The "floor" is Rs.500 i.e you have to spend Rs.500 at the eligible merchants to get the cashback. (If your Airtel bill is Rs.300 and you pay it using this card you will get Zero cashback)
Cash back in limited to Rs. 500 only AFAIK. And the cash back on fuel transactions is only 2.5% since the rest is surcharge waiver.

Quote:
Originally Posted by UKR View Post
@rajesh1868: I had thought the same and tried it in Spar but didn't receive any cash back even though the transaction was above 500 so thought of looking up their list of shops. This card as of now is not looking as beneficial as it is made to look because a good percentage of the cash back received would have to be given back as annual fees. Also there is no reward points for the transactions that qualify for cash back. Citibank Indian oil platinum I feel is a better bet as we can directly convert points to fuel and one point is equivalent to 1 rupee worth of fuel. I think I would most probably discontinue Manhattan after a year.

@amitpunjani: I was also looking at Amex cards but couldn't find any card for which the benefits would atleast offset the yearly charges they were demanding. Would really appreciate if you could elaborate on the features apart from customer service which you found beneficial.
I have had Manhattan Platinum for 4 years now and it was offered to me as a life-time free card (No I did not have any sort of relationship with SCB prior to that).

Re the Amex Gold card - I have just got a waiver of the annual fee for the second year (it was offered first year free). Have never paid a single paisa in fees or interest or charges to any CC issuer in the last 12 years and have no intention of doing so either.

Quote:
Originally Posted by amitpunjani View Post
Hi Buddy,

The customer services representatives are really professional and well spoken. On one occasion, i paid about Rs 1,200 extra as the retailer said they charge extra for using Amex. I spoke to the CR of Amex and the same day they credited back to my card.

Yes, these guys do charge a annual fees which is about Rs 5,000/annum but worth it for the kind of services they offer.
That was nice of them to waive the extra charge. As I said above, try telling them to waive off the fees. They tried their best with me - offering 50% fee waiver, extra reward points, discount and extra reward points for the top of the line Platinum Reserve card; but I did not budge from my stance. They finally agreed to waive off the full fee (of course I didn't get any reward points which one usually gets on payment of renewal fees).

Last edited by nkapoor777 : 7th June 2012 at 00:10. Reason: Typo
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Old 7th June 2012, 02:10   #698
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Default Re: The Credit Card Thread

Quote:
Originally Posted by nkapoor777 View Post
Cash back in limited to Rs. 500 only AFAIK. And the cash back on fuel transactions is only 2.5% since the rest is surcharge waiver.
It probably is Rs.500 max per transaction. I have received a cumulative cashback exceeding Rs.500 for multiple transactions.

You are right about the surcharge waiver. With the 2.5% real cash back I end up getting almost one liter fuel free each time I tank up the car.
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Old 7th June 2012, 14:57   #699
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Default Re: The Credit Card Thread

Can someone help me decide to redeem my reward points to Airmiles

It would be very kind of you if you can tell me how they are used.

On my two credit cards I am eligible for around 14893 JP miles
when considering Jet Airways.

what I am confused with is :-
1). How much domestic travel one can do with so many airmiles
I mean can I go from lucknow to delhi, mumbai and back ?
2). will only I (the card holder) will be allowed to travel ?

What are other things to consider if I plan to redeem the accumulated points to Air miles.


Edit: found this Air mile calculator and seems I can do a international trip, along family if the Airmiles allocated are allowed
to be used for person other than card holder.

Last edited by ghpk : 7th June 2012 at 15:02.
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Old 7th June 2012, 22:08   #700
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Default Re: The Credit Card Thread

But the credit card companies are discriminating against residents of smaller cities. Iget offer from Citibank through e mail for Indian OIl Citibank card. Following the link , if i go for online application, my city (Trivandrum) is not even listed. Then I phoned them. The customer service guy, a little bit apologetically told me that they are not tagetting Trivandrum customers. Seeing Stanchart Super value Titanium card as good value as posted by Supreme Baleno, I went to the website to apply. The moment I gave PINCODE of my area as input , info in RED LETTERS started appearing saying that they donot service these areas. What to do?
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Old 7th June 2012, 22:40   #701
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Default Re: The Credit Card Thread

Quote:
Originally Posted by srikanthns View Post
But the credit card companies are discriminating against residents of smaller cities. Iget offer from Citibank through e mail for Indian OIl Citibank card. Following the link , if i go for online application, my city (Trivandrum) is not even listed. Then I phoned them. The customer service guy, a little bit apologetically told me that they are not tagetting Trivandrum customers. Seeing Stanchart Super value Titanium card as good value as posted by Supreme Baleno, I went to the website to apply. The moment I gave PINCODE of my area as input , info in RED LETTERS started appearing saying that they donot service these areas. What to do?
Same kind of frustration was with me, when I started my business in 2001, I badly needed a credit card, but none was offering it in my city, however they said if you apply from another city and then change address, that would still keep it active, However after many long years, I got one in 2002, and then in 2005.
However due to being in small city, never given proper limit raise, however I think I've never skipped payments for last 6-7 years, Always used full limit and paid on time, sometime I used it as top up card, using full limit, once the charge appeared in online statement, Paid and used again, I was in some business which needed a lot of plastic money to pay my USA based service providers, but I've had very bad experience even with near to excellent payment history.

Now business is sold, so I am not worried about limit, happy with 40k, Cause one would need limit which he could pay, whats the use of credit card with limit of 50 Lacs, when you can't afford to use it, however it still has the risk of getting misused and you would get help liable for dues if not reported on time.

Anyway can someone please let me know how was their Air mile redemption experience on credit card ?
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Old 7th June 2012, 22:52   #702
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Default Re: The Credit Card Thread

I have used credit cards from SBI, HSBC, Deutsche Bank (now IndusInd bank) and Standard Chartered (Manhattan).

Presently use the SCB one and love it! There are cashbacks on purchases from most of the branded and departmental stores . :-)

I also love their lively bills. Curtails the pain while looking at the setback for the month, with funny quotes and colors!

It is better to choose one credit card, out of your kitty and stick to it, till it gives up on you / you give up on it for something better always come up.
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Old 11th June 2012, 13:30   #703
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I did some purchases on Friday at a local store and paid via credit card. There was some problem in the telephone line and I received an automated SMS that the amount has been debited from my card account. Even after waiting for some time the swipe machine did not print the receipt. The vendor tried to retrieve the last transaction but it showed the transaction just before mine.

I called up the card company and they confirmed that the transaction has been approved from their end. The vendor (he knows me since I am a regular customer) asked me to come the next day so that he can check the settlement statement that night. We checked it the next day and my transaction was not listed. So from the vendors' perspective he has not received the amount from the card.

So - What should be done ? The card company mentioned that if the vendor does not submit the transaction for approval in the next 15 days, the amount will be credited back. The vendor is not sure about how this works since it is a chain of stores and he does not have visibility of the approval process.

My concerns -

If the transaction is not visible in his statement, then will the amount be credited back to my account ?

Is it possible for an approval if the vendor does not produce the signed slip ?

Any suggestions on the best way to deal with this situation ?
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Old 11th June 2012, 13:39   #704
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Default Re: The Credit Card Thread

Quote:
Originally Posted by kutts View Post

So - What should be done ? The card company mentioned that if the vendor does not submit the transaction for approval in the next 15 days, the amount will be credited back. The vendor is not sure about how this works since it is a chain of stores and he does not have visibility of the approval process.
Has happened to me before. Usually the amount reflects as a refund on the next bill.
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Old 11th June 2012, 13:40   #705
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Default Re: The Credit Card Thread

Quote:
Originally Posted by ghpk View Post
Can someone help me decide to redeem my reward points to Airmiles

It would be very kind of you if you can tell me how they are used.

On my two credit cards I am eligible for around 14893 JP miles
when considering Jet Airways.

what I am confused with is :-
1). How much domestic travel one can do with so many airmiles
I mean can I go from lucknow to delhi, mumbai and back ?
2). will only I (the card holder) will be allowed to travel ?

What are other things to consider if I plan to redeem the accumulated points to Air miles.


Edit: found this Air mile calculator and seems I can do a international trip, along family if the Airmiles allocated are allowed
to be used for person other than card holder.
Last I checked - a Lucknow mumbai ticket was 8400 JPMiles (some special offer going on at Jet airways where they were doing redemptions at 20 % fewer miles). Normally its 12000 miles I think.

Last edited by CrackedHead : 11th June 2012 at 13:52. Reason: correction
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