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Old 17th February 2013, 13:36   #991
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Originally Posted by coolabhi View Post

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.
Card protection plans (CPP) cover loss due to fraud for 7 days before the loss of card is reported. I ve seen some offers from citibank, they cover upto 5-6 cards but a limit of loss only Rs.40000 per card. Not sure on HDFC's limit per card though.
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Old 17th February 2013, 14:33   #992
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Default Re: The Credit Card Thread

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Originally Posted by DigitalOne View Post
.. 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...
I too received this new chip based platinum card last week which states no annual charges. What I noticed was the limit on the fuel-charge-reversal. If I recollect, the original card had no limit on the amount of fuel pumped/month. This new card's benefits description states, max up to 4k. It is not clear if the 4k limit is per transaction or per month. Pl. get this confirmed as well.

It also stated, the earlier card will continue to work as well.

PS: I have asked them to cancel the chip card, since I never asked them to upgrade from gold card to platinum.
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Old 17th February 2013, 23:40   #993
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Default Re: The Credit Card Thread

Quote:
Originally Posted by coolabhi View Post
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.
Coolabhi
Hi and thanks for your reply.
Will definitely check out the exclusions.According to me it is worth it.
As far as I know once you have reported the card is lost you are not liable for any transaction afterwards.Please correct me if I am wrong.
Could you also please reply to my query regarding reward points.Would like to encash before they expire.
Regards
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Old 25th February 2013, 22:38   #994
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Default Re: The Credit Card Thread

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Originally Posted by faustus77 View Post
Coolabhi
Hi and thanks for your reply.
Will definitely check out the exclusions.According to me it is worth it.
As far as I know once you have reported the card is lost you are not liable for any transaction afterwards.Please correct me if I am wrong.
Could you also please reply to my query regarding reward points.Would like to encash before they expire.
Regards
Sorry for my late reply.
Today i got a mail from HDFC regarding their service called wallet assist.

link for the details :- https://www.oneassist.in/mailers/hdf...4.0&tc=&cpctc=

link for terms and conditions :-
https://www.oneassist.in/.content/pd...ions_Final.pdf

with regards to your credit card points:-
I have HDFC credit card and i used my points for samsonite vouchers to buy a travel bag.They have good variety of gift voucher options. If you like watches you may take the citizen gift voucher.
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Old 2nd March 2013, 18:32   #995
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Arrow Re: The Credit Card Thread

I have a question. I know this is a credit card thread but still. I am travelling to Turkey next week, so can I use my ICICI bank HPCL debit card to make purchases over there? Or should I apply for a credit card? It has the mastercard logo on it, so I think it should work; but can someone please confirm?
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Old 2nd March 2013, 18:44   #996
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Quote:
Originally Posted by W.A.G.7 View Post
I am travelling to Turkey next week, so can I use my ICICI bank HPCL debit card to make purchases over there?
They market such cards as "International Debit Cards" - which would be printed on the front of your card. Check that. It could also be called a "World Debit Card".

Could be relevant: http://www.firstpost.com/investing/f...ds-646003.html
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Old 2nd March 2013, 19:18   #997
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Quote:
Originally Posted by binand View Post
They market such cards as "International Debit Cards" - which would be printed on the front of your card. Check that. It could also be called a "World Debit Card".

Could be relevant: http://www.firstpost.com/investing/f...ds-646003.html
Thanks Binand. However on my card it isn't written anything on. It's the same one as shown in the picture below. So I am curios as to if this would work or not. Logically it should work, but then you never know how these banks behave! This was given to me with my salary account. However I am not much of a "card" person, so I have used it rarely.

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Old 2nd March 2013, 19:36   #998
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Default Re: The Credit Card Thread

Quote:
Originally Posted by W.A.G.7 View Post
Thanks Binand. However on my card it isn't written anything on. [...] Logically it should work
Then it likely isn't. Logically speaking, a card is an international card only if it specifically says so :-) You can check out the images of other ICICI Bank debit cards at the same place where you picked this image from - the international ones clearly say so on the face of the card.
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Old 2nd March 2013, 22:46   #999
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Default Re: The Credit Card Thread

@W.A.I.G : AFAIK all credit cards issued these days are international cards and I dont see them being specifically marked as International Cards. There is however a possibility that cards issued by some small time nationalized bank might still be restricted to domestic use but the ICICI that you're holding is most likely to be an International card. Just double check with their helpline to clear any doubts you might have before leaving abroad.

Also it makes sense for you to look at Prepaid Forex cards (the plastic version of Travellers Cheques) in the local currency of the country you're travelling to, since this way you would save on :

a) Currency Conversion surprises
b) Forex Mark up Fee (A kind of hedging fee that all banks charge) thats about 3.5% per transaction

These are available at all leading money changers and top banks as well
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Old 2nd March 2013, 23:21   #1000
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Arrow Re: The Credit Card Thread

Quote:
Originally Posted by binand View Post
Then it likely isn't. Logically speaking, a card is an international card only if it specifically says so :-)
Yes, the image is taken from the ICICI bank website and I found that they have some other cards which are advertised as "International".

Quote:
Originally Posted by slipstream View Post
@W.A.I.G : AFAIK all credit cards issued these days are international cards and I dont see them being specifically marked as International Cards. There is however a possibility that cards issued by some small time nationalized bank might still be restricted to domestic use but the ICICI that you're holding is most likely to be an International card. Just double check with their helpline to clear any doubts you might have before leaving abroad.

Also it makes sense for you to look at Prepaid Forex cards (the plastic version of Travellers Cheques) in the local currency of the country you're travelling to, since this way you would save on :

a) Currency Conversion surprises
b) Forex Mark up Fee (A kind of hedging fee that all banks charge) that's about 3.5% per transaction

These are available at all leading money changers and top banks as well
Thanks for the replies and suggestions, guys! I won't actually be purchasing anything in large quantities or anything big, just that I wanted to have some handy money in case of any issues. All hotel stay and transport is going to be arranged by the office itself.

Btw I called their helpline and they say that it will work internationally; though for some reason I still have my doubts. I will check on Monday by going to one of their branches and clearing the doubts. If it works, I will report it here else we all will know that if we have a debit card then we need a card with "International" written on it; to work out of India !!
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Old 3rd March 2013, 11:04   #1001
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Default Re: The Credit Card Thread

Why do you still doubt after getting confirmation from the bank customer care? I can confirm that that card is valid internationally. Why? Because I have similar ICICI salary account debit card (refer your image post in #997) and have used it abroad.
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Old 3rd March 2013, 13:17   #1002
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There is nothing like 'International' should be written on a debit card. The 'International' card you are talking of is just some marketing play with a bit of added advantages.

I have used my Visa Debit cards a number of times abroad including those from ICICI Bank.
None of them have international written on it but all are international debit cards.

Moreover Visa and MasterCard are international consortiums.

Although me and many of my friends prefer to use credit cards when abroad.

Don't worry and enjoy your journey.
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Old 3rd March 2013, 23:55   #1003
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Arrow Re: The Credit Card Thread

Quote:
Originally Posted by Guite View Post
I can confirm that that card is valid internationally.
Quote:
Originally Posted by k2max6 View Post
I have used my Visa Debit cards a number of times abroad including those from ICICI Bank. None of them have international written on it but all are international debit cards.
Guite & k2max6, thanks so much for the replies. I will report after the Turkey trip! I will use it and check it out.
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Old 12th March 2013, 14:29   #1004
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Default Re: The Credit Card Thread

Now, penalty for paying credit card dues by cheque! - http://www.moneylife.in/article/now-...que/31536.html

Quote:
In a mockery of RBI's independence, a lowly under-secretary of Dept. of Financial Services has issued a fatwa to government banks to penalise you if you pay your credit cards due by cheque! The under-secretary got this idea from HDFC Bank!

Nearly a month after Moneylife Foundation discovered and took up the issue of the Reserve Bank of India's (RBI) bizarre idea of penalising bank depositors for using cheques, we find that the idea or rather the fatwa to this effect had emanated from the finance ministry as far back as 25 October 2012 at the possibly at the instigation of India's most profitable bank.
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Old 14th March 2013, 21:10   #1005
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Default Re: The Credit Card Thread

RBI Issues Fresh Guidelines For Debit & Credit Cards, Online Money Transfers

http://www.medianama.com/2013/03/223...er-guidelines/
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