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Old 28th December 2012, 14:40   #856
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Default Re: The Credit Card Thread

Latest Manhattan statement has this Note:
Quote:
In the month of December 2012, the rewards redemption catalogue will be enhanced to provide more choices and
exciting features. With this enhancement cash back earned will not be automatically credited as before but can now
be redeemed for vouchers & products of greater value. If you wish, you can redeem towards cash back credit - the
choice is yours. To redeem your cash back you may call helpline or visit online rewards at
www.standardchartered.co.in. The reward points redemption ratio will also be revised, Keep visiting the website for
more details
Also found this
Quote:
Let us know if there’s anything wrong on this sheet within the next three weeks. (Otherwise we’ll take it as being right!)
In case the payment due by you is indicated as Immediate in the statement, we may seek assistance of collections agencies.
Please refer to the reverse of the statement for the Grievance redressal process
So just checked my statement again to find that one cash back from Hyper City is missing and for another one they have given 1% instead of 5%

I have mailed them.Waiting for reply
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Old 29th December 2012, 22:07   #857
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Default Re: The Credit Card Thread

Hi everybody
HDFC seems to be slipping.
Their statement dated 4th dec has a franking date of 16th dec which was a sunday.That means 13 days to post.
I received their statement on 22nd which was a saturday late in the afternoon.Last date for payment 24th and if payment is to be made by cheque(I always do that) it should be dropped at least 3 working days before.
I have sent email to their address which is on the statement.After 4 days it is not delivered and I am getting a notification unable to deliver to recipient.
Has anybody else faced such problem?
Regards
PS:I have always paid much before their due dates.The email intimation went into my daughter's email account and she had not logged on.
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Old 29th December 2012, 22:57   #858
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Originally Posted by faustus77 View Post
Hi everybody
HDFC seems to be slipping.
Their statement dated 4th dec has a franking date of 16th dec which was a sunday.That means 13 days to post.
Don't wait for paper statements, check them online and make payments, again online. It is convenient to you as we'll as the bank.

I'm not defending the bank, I've had much worse experience with them. But, your your credit rating may suffer because of the bank's lousy practices and inefficiency.
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Old 29th December 2012, 23:00   #859
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Quote:
Originally Posted by faustus77 View Post
Hi everybody
HDFC seems to be slipping.
Their statement dated 4th dec has a franking date of 16th dec which was a sunday.That means 13 days to post.
I received their statement on 22nd which was a saturday late in the afternoon.Last date for payment 24th and if payment is to be made by cheque(I always do that) it should be dropped at least 3 working days before.
I have sent email to their address which is on the statement.After 4 days it is not delivered and I am getting a notification unable to deliver to recipient.
Has anybody else faced such problem?
Regards
PS:I have always paid much before their due dates.The email intimation went into my daughter's email account an......
That's not typical of what you would expect from a bank like HDFC.

But then physical statements and cheque payments for credit cards are a thing of the past.

Please do the necessary to ensure that you have access to your net banking account with your credit card linked in.

You don't have to any longer rely on these unreliable dispatch folks. You can just check your txn realtime and pay off the dues at the click of a button.

It also helps you keep a tab on day to day cc operations which becomes more crucial in this world of plastic money.

Last edited by Warwithwheels : 29th December 2012 at 23:01.
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Old 30th December 2012, 14:48   #860
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Default Re: The Credit Card Thread

Quote:
Originally Posted by Warwithwheels View Post
That's not typical of what you would expect from a bank like HDFC.

But then physical statements and cheque payments for credit cards are a thing of the past.

Please do the necessary to ensure that you have access to your net banking account with your credit card linked in.

You don't have to any longer rely on these unreliable dispatch folks. You can just check your txn realtime and pay off the dues at the click of a button.

It also helps you keep a tab on day to day cc operations which becomes more crucial in this world of plastic money.
Rightly said. Also opt for email statement so that you would receive your statement on time. I used to make payments via cheques but it happened so that I always drop it on the last day and would call up customer care for interest reversal. From the time I have opted for online payment, I have never missed a payment till date.
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Old 30th December 2012, 15:03   #861
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Default Re: The Credit Card Thread

Just wanted to share the benefits i get from my credit cards :-

I am using 4 credit cards with different benefits :-

1)Standard Chartered 2)HSBC 3)HDFC 4) Citibank

each credit card has a different billing date , this ensures i get maximum credit period.

The benefits :-
1) Standard Chartered - I am using the titanium card for about a year. This card offers a benefit of 5% cash back on all my mobile/internet bill payments , electricity bill payment.This forms a major part of our expenditure for any one.Only condition is 5% cash back is only applicable for transactions of more than 500 Rs.I almost save 350 to 400 rs per month ,thats almost 4000 Rs per year.Overall experience has been good.Just once i was wrongly charged for exceeding my limit .Although it was not my mistake , a transaction that crosses my credit limit should not be approved. I called the customer care and these charges were waived off.phew!

2)HSBC :-using this for about 6 months. Took this specifically because they offered a VISA platinum card as all other cards i have is by master card. Benefit of this card is you get good offers by VISA eg:- buy one get one free on book my show , lounge access at some airports. Also it feels a bit premium to have HSBC credit card .

3)HDFC :- using this almost for a year now. Gives good cash back offers but it keeps on changing. Points redemption has good options for vouchers as well.They have a service called as register and pay through which one can pay insurance premium and get 1.5% cash back , get alerts as well. The EMI offers during festivals is quite good...0% interest and no documentation charge i.e emi at no extra cost

4)Citibank :- I have the Indian oil citibank credit card. Benefit :- i get 4 points of fuel on every 100 rs i spend at Indian oil outlets.each point is equal to 1re of fuel. Condition :- The outlet should have citibank credit card terminal. So thats like 4% cash back on fuel expenses. I also get 2 points (i.e fuel worth 2 rs) on all spends at departmental stores.

All above credit cards have 0 fuel surcharge which is common these days i guess.

Yes its risky to manage 4 credit cards as one can miss out the due date. But i maintain an excel sheet judiciously to ensure that i dont miss out any payment. Luckily have not made any default till date.

Also the major problem with using a credit card is we tend to spend more and dont realise when we spend more than required. I believe we should not spend money which we havent earned as yet. This also is resolved if u maintain a proper excel sheet.Just add up your credit card spends in one week and deduct it from your bank balance.

request others to share the benefits of credit cards they are using.
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Old 30th December 2012, 21:09   #862
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Default Re: The Credit Card Thread

Quote:
Originally Posted by faustus77 View Post
Hi everybody
HDFC seems to be slipping.
Their statement dated 4th dec has a franking date of 16th dec which was a sunday.That means 13 days to post.
I received their statement on 22nd which was a saturday late in the afternoon.Last date for payment 24th and if payment is to be made by cheque(I always do that) it should be dropped at least 3 working days before.
I have sent email to their address which is on the statement.After 4 days it is not delivered and I am getting a notification unable to deliver to recipient.
Has anybody else faced such problem?
Regards
PS:I have always paid much before their due dates.The email intimation went into my daughter's email account and she had not logged on.
Not only in the regular service, but seem to be reneging on the initial promises made. I applied and got a Titianium card. In the letter sent with the CC it was mentioned that if I spend Rs10,000/- in 3 months, the annual fee will not be charged. In the second bill , annual fee was charged. I enquired with Customer care. Told that the moment the spend crosses 10,000 it will be reversed. The 10,000 was crossed in two months itself. But now the fourth bill is going to be paid. But reversal has not happened. Will talk to them and also wait for 2 more months. If nothing positive comes about, am thinking of throwing the card back at them.
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Old 30th December 2012, 21:30   #863
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Originally Posted by srikanthns View Post
Will talk to them and also wait for 2 more months. If nothing positive comes about, am thinking of throwing the card back at them.
Lodge a formal complaint, take the complaint number and date. If you don't get resolution within a month, write to banking ombudsman.
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Old 30th December 2012, 21:42   #864
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Default Re: The Credit Card Thread

Quote:
Originally Posted by srikanthns View Post
Will talk to them and also wait for 2 more months. If nothing positive comes about, am thinking of throwing the card back at them.
Whatever you do:

1. Pay at least the minimum amount due(ideally the the whole amount including annual service) . And then escalate for refund of annual fees.
2. If you dont pay the amount due and that delay is communicated to CIBIL, you will end up paying higher interest rates for Home/Car loans in future.
3. Log on to Netbanking and send written request for reversal of Annual Fee, that way you will have bank's response in written.
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Old 2nd January 2013, 00:36   #865
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Default Re: The Credit Card Thread

Srikanth/Warwithwheels/SA Kiran
Hi
Happy new year
Thanks your replies.
I prefer not to go in for netbanking as I feel secure writing physical cheques
(With SBI I have an auto debit facility and once I was debited the bill amount inspite of my paying by cheque. I had not received the activation email.However the amount was adjusted in the next bill.)
As I am retired it doesnt matter that I have to write cheques and send somebody to drop them.
One question regarding HDFC.I was aware of 1 item which I had paid earlier.I was not aware of another billed item.So as there was a part payment made will it be considered as late payment?The question of interest does not arise. I will fight and get it reversed.
Regards
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Old 7th January 2013, 12:32   #866
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Default Re: The Credit Card Thread

I was at home yesterday when I received a message in my mobile that my credit card was swiped for 62,605 Rs. I was shocked as the card was with me. I immediately called the credit card customer care and reported the issue. They informed me that someone has purchased a gold ornaments for the same and this is not an online payment. They took a complaint and blocked my card. I got a call from the fraud detection department and they assured me that I do not need to pay any money. I went to the Kadugodi police station to report the issue. There the inspector also spoke to the Fraud Detection department of Standard Chartered bank and he told not to worry and he said in case I need, I have to talk to the cyber crime department. I did not lodge a formal complaint though.

Today I spoke to the customer care of SC again and they said the money is still in the pipeline and they can not take any request till the merchant claims it and they told me to call again in next 48 hours. I m surprised that how can some one easily clone my card. Is this so insecure ?

Please suggest me what I should do here.
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Old 7th January 2013, 12:55   #867
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Default Re: The Credit Card Thread

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Originally Posted by sam_boy View Post
Is this so insecure ?
Online credit card transaction is at least secure in India, due to RBI guidelines. Offline, it is possible to clone cards when you hand your card for swiping.

Check this: 4 credit card myths

Myths:
  1. Myth 1 – My Credit Card is secure, because no one knows my PIN/Password
  2. Myth 2 – No one knows my CVV number, so I am secure
  3. Myth 3 – My credit card cant be duplicated.
  4. Myth 4 – The signature on the back on credit card does not matter much
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Old 22nd January 2013, 10:53   #868
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Default Re: The Credit Card Thread

Looks like my citibank Indian Oil credit card got skimmed at some of the POS machine. Today morning I got an alert saying that my card got used to purchase of 150CAD. Citi Bank immediately blocked my card even before I called them up. I have disputed the transaction and blocked the card. They told me that it was swipped in a fuel outlet in Canada while the original card is still in front of me...!!!!

So going forward, I will use only my chip card where ever possible. All other places, only direct cash..!!! Is there any other points to be noted..??
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Old 22nd January 2013, 11:07   #869
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^^Check with the bank if we can artificially peg our credit limit at a lower level, say Rs 10K or so, to be released to full level upon our specific request.
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Old 23rd January 2013, 20:35   #870
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Default Re: The Credit Card Thread

Got a strange call today from ICICI, claiming my card is "likely" to be compromised & they want my confirmation to block it. I did not accept, then, called up their helpline. The agent confirms that the call was from ICICI and the call was because, they have information that my card is likely to be compromised & if I accept they will go ahead and block the card. After confirming that there is no additional charge of any kind (no card replacement fees, no new annual/renewal fees - it is a free card from ages), I agreed to block the current card & reissue a new card without any charge. Next question is, "since you are getting a new card, do you want an upgrade". I decline re-iterating that I don't need any new services/features/fees. Then she summarises, "based on customer request, card is being blocked & a new one is issued". I ask for confirmation by email, and she says, I will get a service request number by SMS.

- How will ICICI know that my card is likely to be compromised?
- Why try to push for a upgrade card - makes me feel this is the whole intention?
- Service request SMS has not come yet for my request. Their initial SR SMS came within seconds of my received call (which made me call the help desk immediately).

I found this episode very unconvincing & hence shot across an email from my internet banking account asking the above clarifications.

So, anyone else who had this experience of a call stating "card is likely to be compromised"?
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