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Old 11th February 2013, 23:35   #976
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Default Re: The Credit Card Thread

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Originally Posted by srikanthns View Post
SBI Charges for NEFT! I am sure because I am a very frequent user!
I stand corrected just checked again SBI charges for NEFT.
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Old 12th February 2013, 00:25   #977
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Default Re: The Credit Card Thread

Hi everybody
A month back I received an offer from HDFC Ergo soliciting insurance policy for fraud losscover upto 350000,rs 500000 accidental death,cover for loan(credit card,personal and education) outstanding upto 500000 in the event of accidental death and education grant of rs 25000.Total coverage 13.75.
As far as I am concerned it is the accident cover and the fraud loss cover which will cost 968 + service tax.
With the spate of frauds being reported everyday is it good to have it?
Has anybody opted for it?What are the troublesome areas?Any fine print to look out for?
Regards
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Old 12th February 2013, 09:04   #978
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Default Re: The Credit Card Thread

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Originally Posted by sa_kiran View Post
The govt and banks have been oxymorons. They want to promote electronic payments and on the ground, they do everything possible to discourage them! This is one example. Another one is charging for NEFT by banks. We should protest by making payments using cheques.
Indeed. HDFC Bank charges Rs. 5 + ST for NEFT upto 1L.

My salary comes in HDFC Bank, but all billers are registered in Citibank. So I do a once-a-month transfer, and I actually drop a cheque every month transferring from one to the other. The bank suffers, I anyway visit the ATM (for beginning of month cash needs) so don't.

Citi is really good - they don't charge me for NEFT, other bank ATM, DD, Debit Card or for that matter, anything.
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Old 12th February 2013, 11:53   #979
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Default Re: The Credit Card Thread

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Originally Posted by binand View Post
Indeed. HDFC Bank charges Rs. 5 + ST for NEFT upto 1L.

My salary comes in HDFC Bank, but all billers are registered in Citibank. So I do a once-a-month transfer, and I actually drop a cheque every month transferring from one to the other. The bank suffers, I anyway visit the ATM (for beginning of month cash needs) so don't.

Citi is really good - they don't charge me for NEFT, other bank ATM, DD, Debit Card or for that matter, anything.
HDFC Bank and ICICI Bank are the banking equivalents of airtel and Vodafone; similarly airtel and Vodafone are the telco equivalent of HDFC Bank and ICICI Bank - all are lousy organizations, setting benchmarks for everything bad. Citi, though rigid is far more flexible. I was forced to have salary account with them in one of my earlier organizations. I closed the account after I quit that organization, but continue with credit card. But their marketing is terribly out of tune. They keep sending me pre-approved loan mailers every month, for the last 2-3 years! HDFC Bank is even worse, they offer me 2-3 lakhs personal loan, inspite of my savings account with them. They can just check the balance before sending this kind of spam!

If your bills are telephone and electricity, then just go to their website and pay using netbanking facility. Most of them accept credit cards also without additional charges. I pay MTNL, Mahadiscom, airtel and Mahanagar Gas bills through their websites and nobody charges extra for credit cards except Mahanagar Gas. MTNL and Mahadiscom offer discounts for early payment, which is in tune with my credit card billing cycle.
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Old 12th February 2013, 12:39   #980
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Default Re: The Credit Card Thread

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Originally Posted by sa_kiran View Post
HDFC Bank is even worse, they offer me 2-3 lakhs personal loan, inspite of my savings account with them. They can just check the balance before sending this kind of spam!
My experience with HDFC Bank is similar. They had left me alone for a long time. But within months of my taking a car loan from them, I would get a new "pre-approved" car loan offer every month. :-)

Quote:
Originally Posted by sa_kiran View Post
If your bills are telephone and electricity, then just go to their website and pay using netbanking facility.
I think you misunderstood. I am quite happy with Citi. Plus, I like the convenience of logging into one website (as opposed to several) to pay all my bills. Some of my bills are my apartment rent and maintenance charges, which I cannot pay on any other website Lastly, BESCOM charges extra if one tries to pay on their website (see below).
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Old 13th February 2013, 15:50   #981
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Default Re: The Credit Card Thread

A small help please. My Dad has applied for SBI CC around a month back and a verification guy came around 2-3weeks back as well, for verifying the details . The guy said we will get it soon.

But, still haven't received the card yet. Since the entire CC and DC thing works apart from SBI branch, we couldn't inquire anywhere as to why the delay. So,thought of asking other fellow users here. So, does it take usually this much time for getting the application processed ?
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Old 13th February 2013, 21:52   #982
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Default Re: The Credit Card Thread

Few pages back I had posted about my Hdfc experience and Citibank delayed payment. Here are the updates.

Finally received HDFC credit card at third delivery attempt. The card is the one I applied for: Visa Signature. It looks good: glossy black with gold colour lettering. Appearance is much better and more premium than ICICI and Citi. Credit limit is 50% more than I asked for, so will request them to lower it.

Citibank credit card statement has been generated and there is no penalty or interest. To recap: I had paid my Citibank CC bill two days in advance but due to intervening holidays, Citibank received it one day after due date.
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Old 13th February 2013, 22:05   #983
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Default Re: The Credit Card Thread

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Originally Posted by Guite View Post
I had paid my Citibank CC bill two days in advance but due to intervening holidays, Citibank received it one day after due date.
Generally if the transaction was initiated before the due date no penalty is charged even if they receive the payment after due date.
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Old 16th February 2013, 12:57   #984
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Default Re: The Credit Card Thread

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Originally Posted by yosbert View Post
Same for me. This should have raised a red flag in my mind, but as I said, my common sense was on vacation at that time and my hands were too full with some work at that time to think it through
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Originally Posted by rkg View Post
Can anyone/firm give a return of Rs 50000/ on an investment of Rs 6999/ or 7K any where in the world? Anyway lets us all know your experiences in this regard
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Originally Posted by k2max6 View Post
Can be gift vouchers but not cash in any case.
Since you have already paid lets hope luckily something good comes out.
Alright, So i get a nice package from Bluedart a couple of days ago while I was at work. Got home and see the following contents

I was slightly relieved that atleast its not an outright scam where my 7K just went down the drain.

The offer included the following

1. Watch ( Yeah, its not that great)

2. Discount Card with a pretty extensive list of restuarants and hotels for staying and discounts range from 10%-30%

I spend a small fortune eating out every month. So i reckon this is the best bet to recover the cost

3. Holiday Booklet which has a huge list of very good hotels listed that I can avail 2 nights/3 days twice in a year. Need to book 30days in advance. Hope I dont get a "Rooms Not Available" answer for every hotel

4. Two 2K worth cash back vouchers

Overall, looks professional and good. Let's see if my experience says the same thing.
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Old 16th February 2013, 19:02   #985
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Default Re: The Credit Card Thread

Quote:
Originally Posted by binand
Indeed. HDFC Bank charges Rs. 5 + ST for NEFT upto 1L.
Well, it differs from customer to customer - based on what type of account you hold with them. My Salary account is with them and it is a Preferred account - zero NEFT charges irrespective of the amount transferred. Plus other freebies like free DDs upto a lakh per day etc. Don't know how good/bad they are with credit-cards, because as a rule I do not opt for a credit card from the bank I have my SB account with.
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Old 16th February 2013, 20:30   #986
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Default Re: The Credit Card Thread

Hi everybody.
For a few years I have been using SBI and HDFC and have collected 2889 and 3441 reward points(this is after the expired ones)
Dont want these to lapse.Where to look for the best way to redeem.I dont have to pay any annual fees.
Somebody please advise about the HDFC offer which I have posted above(post no 977)
Thanks and regards
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Old 17th February 2013, 09:58   #987
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We had a strange experience yesterday. The missus has an HDFC Gold card that is rarely used. Since my own card was maxed out We were trying to use that to rack up an EMI purchase at an electronics store.

It got declined so we called up the bank to check. And got told that the existing credit limit is 37000 but since there is an overdue payment of 340/- the card has been blocked.

Sounded weird. My wife asked to speak to a manager but was refused! She very politely threatened to cancel the card and the agent shoots back "Ok ma'am please pay your due amount and then cancel the card".

Didn't know whether to laugh or cry. We lost out on the EMI option because of this which was disappointing. I delivered the mandatory lecture on maintaining fiscal discipline to the missus but this time my heart wasnt in it...block an entire card for a 300 rupee outstanding payment? Really???

I have had very good experiences with HDFC Bank and loath to judge them on this one incident. Maybe they were just having an off day.
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Old 17th February 2013, 10:11   #988
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Default Re: The Credit Card Thread

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Originally Posted by null View Post
I suggest you to email to ICICI now (yes email - not call - to have a proof) stating that you do not expect any changes in the annual fees/renewal fees (any fees) for this new card and ask for their confirmation. This will come handy in case they charge you any fee later (after 1 year typically).

PS: I had posted the original msg here about this call from ICICI stating the card is compromised. I have got a normal card (without chip) because I was very particular that I do not want any kind of changes to my card (fees/plan/type etc).
New updates. Apparently after ICICI saw that my old card is "compromised", they blocked my old card and sent me an ordinary replacement card immediately. And they sent an additional "chip" card in two weeks time (which I received yesterday). So now I have to get the ordinary card blocked.

The welcome letter for the chip card clearly states no annual charges. I got it confirmed by call also. Will get it confirmed by E-Mail also.

Unfortunately, the chip card didn't work in the first store I tried but it worked in the second store.
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Old 17th February 2013, 11:32   #989
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Default Re: The Credit Card Thread

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Originally Posted by noopster View Post
It got declined so we called up the bank to check. And got told that the existing credit limit is 37000 but since there is an overdue payment of 340/- the card has been blocked
Process wise HDFC bank is the strictest in entire retail bankers category.

Like any bank, they notify several times of the overdue payment, I wonder your wife didnt take action on it. Cancelling the card for such a small issue would not be a good movie considering HDFC bank cards are the best ever
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Old 17th February 2013, 12:11   #990
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Default Re: The Credit Card Thread

Quote:
Originally Posted by faustus77 View Post
Hi everybody
A month back I received an offer from HDFC Ergo soliciting insurance policy for fraud losscover upto 350000,rs 500000 accidental death,cover for loan(credit card,personal and education) outstanding upto 500000 in the event of accidental death and education grant of rs 25000.Total coverage 13.75.
As far as I am concerned it is the accident cover and the fraud loss cover which will cost 968 + service tax.
With the spate of frauds being reported everyday is it good to have it?
Has anybody opted for it?What are the troublesome areas?Any fine print to look out for?
Regards
Even am looking forward to cover my credit cards risk. Citibank has one such plan but didnt get a quote of premium required. I suggest you go through each and every condition mentioned.

The grey area :-
As an example consider the following situation
In case you loose your credit card and it is misused for a transaction of 10,000 INR. You report the loss to your bank and after reporting one more transaction of 20,000 is done.

Just clarify that this coverage covers the 10,000 in the above case or not?
sounds silly but these banks play around on these things.
Also dont rely on what they say but check the terms and conditions mentioned on the document.
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