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Old 21st August 2013, 14:37   #1201
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Default Re: The Credit Card Thread

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I am being offered an SC Infinite card which is a life time free card (as I am told). Should I take it? Is there any catch which comes with this? Pl. let me know
Infinite is Black - the highest. We have them as part of our Priority relationship. No catches for us. Also, when you go abroad no forex charges on purchases. I think some insurance as well.
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Old 21st August 2013, 23:29   #1202
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Default Re: The Credit Card Thread

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Infinite is Black - the highest. We have them as part of our Priority relationship. No catches for us. Also, when you go abroad no forex charges on purchases. I think some insurance as well.
Thanks for the inputs SG Sir. Yes. It comes with a 200K USD travel insurance cover as well. Also, it comes with some airport lounge access & golf course access which I may never use. There is a fuel surcharge waiver for upto Rs500/month (with min bills of Rs500) as well.

Guess I will go ahead & take this card. Thanks again for the feedback.
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Old 22nd August 2013, 11:34   #1203
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Default Re: The Credit Card Thread

Ok i just got myself a credit card after sticking with a debit card all these years. ICICI HPCL Platinum card it is.

Now i see a convert to emi option in my account. do i get charged interest or will it be an even split?

How much credit days do i get with a credit card?

Do i pay the full amount due or only the minimum amount due?

Thanks for your patience and sorry if these noob questions have been asked before
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Old 22nd August 2013, 13:13   #1204
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Default Re: The Credit Card Thread

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Originally Posted by deathwalkr View Post
Ok i just got myself a credit card after sticking with a debit card all these years. ICICI HPCL Platinum card it is.

Now i see a convert to emi option in my account. do i get charged interest or will it be an even split?

How much credit days do i get with a credit card?

Do i pay the full amount due or only the minimum amount due?

Thanks for your patience and sorry if these noob questions have been asked before
For point 1 - Yes, there should be some interest or processing fees.

For point 2 - Always try and make full payment. Assuming that you made a shopping of 10,000 and paid 9,999; then also, the interest would be levied on full 10,000 and not on balance 1 Rs.
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Old 22nd August 2013, 13:44   #1205
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Default Re: The Credit Card Thread

@amtak: thanks for the clarifications
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Old 22nd August 2013, 13:48   #1206
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Default Re: The Credit Card Thread

It is better not to use credit cards. Continue using debit card.

1. Today all banks are giving rewards for using debit cards - HDFC gives 1% cashback, Stanc upto 5% for certain cards / type of spending.

2. More importantly, it ensures you are spending within your limits - not buying things with money you don't have.
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Old 22nd August 2013, 14:08   #1207
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Default Re: The Credit Card Thread

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Originally Posted by null View Post
Also, it comes with some airport lounge access & golf course access which I may never use. There is a fuel surcharge waiver for upto Rs500/month (with min bills of Rs500) as well.
Just watch out. Priority lounge access is charged. However a certain number of usages per quarter are free /refunded.
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Old 22nd August 2013, 16:47   #1208
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Default Re: The Credit Card Thread

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Originally Posted by deathwalkr View Post
Q1. Now i see a convert to emi option in my account. do i get charged interest or will it be an even split?

Q2. How much credit days do i get with a credit card?

Q3. Do i pay the full amount due or only the minimum amount due?
My replies may not directly answer you questions, but please do keep these in mind while using your credit card.

A1. Never user EMI option on credit card - it is as simple as that. Many people get lured into these EMI schemes and end up buying things which they can't afford or don't require.

A2. Don't think of credit card as a borrowing tool. Think of it as an option for carrying cash. Never wait for the last date for making credit card payments, try to make the payment as soon as the bill is generated.

A3. Always pay a few rupees more than the full amount due. Never think about making partial payments and revolving credit.

Sorry if the above advise sounds too preachy, but anyone who has experience with credit cards will give you the same advice.

Rohan
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Old 22nd August 2013, 16:49   #1209
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Default Re: The Credit Card Thread

@Rohan: Thanks man. Any and every advice is welcome
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Old 22nd August 2013, 17:58   #1210
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Default Re: The Credit Card Thread

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Originally Posted by sgiitk View Post
Just watch out. Priority lounge access is charged. However a certain number of usages per quarter are free /refunded.
I assume this is a mastercard? Also, whats the number of usages in a quarter/year allowed?
thanks!
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Old 22nd August 2013, 18:22   #1211
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Default Re: The Credit Card Thread

Citibank sent me a new EMV chip credit because the old one's magnetic strip was not being at some merchant locations because of scratches.

The card was sent from Chennai to Gurgaon on 19th August by Blue Dart. Mostly, Blue Dart delivers it next day and sometimes they take one more day. The card has not been delivered till now. Status on Blue Dart website is "Contact Customer Service". I have read this status before also for some other products/deliveries and the courier is delivered next day without contacting them.

I tried contacting them at their 1860xxxxxx number but either it doesn't connect or nobody picks up the phone after initial IVR menu. Local Gurgaon number is also not being picked up.

Citibank also sent the A-PIN for this card through Blue Dart (shouldn't they use a different courier ? ). It was sent from Chennai to Gurgaon yesterday (21st August). It should have been delivered today. The status is "In Transit. Await Delivery Information".

Now both, my card and its A-PIN is with Blue Dart and they have not delivered the card in their normal time frame.

Should I be worried? Should I call Citibank and ask them to block this new card ?
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Old 22nd August 2013, 18:58   #1212
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Default Re: The Credit Card Thread

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Originally Posted by mukeshgoel View Post
Now both, my card and its A-PIN is with Blue Dart and they have not delivered the card in their normal time frame.
Certainly escalate the issue with Citi asap because they should be dispatching the pin after the confirmation of the card delivery over call which they did in my case!
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Old 22nd August 2013, 22:04   #1213
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Default Re: The Credit Card Thread

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It is better not to use credit cards. Continue using debit card.
Apparently there is better fraud protection in credit card. Is this true or false?
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Old 22nd August 2013, 23:37   #1214
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Default Re: The Credit Card Thread

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Apparently there is better fraud protection in credit card. Is this true or false?
True to an extent.

The only transaction-based advantage a credit card has is you can dispute a transaction if you think it's fraudulent. If your claim is successful, you don't have to pay for that transaction (subject to card issuer rules & regs).

You may try doing the same with a debit card, but the money is already gone and fat chance a bank would reimburse money into your account. Part of this risk can be negated by using a PIN-protected debit card, which asks for PIN entry at POS when swiped before approving transaction.

Last edited by Chetan_Rao : 22nd August 2013 at 23:38.
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Old 23rd August 2013, 10:19   #1215
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Default Re: The Credit Card Thread

Need some advice here...

During Diwali last year, ICICI Bank was running a promotional scheme on their credit card, and giving Galaxy Tab 2, for the highest swipe every hour (IIRC!). I was one of the winners in that and they duly sent me the Tab. Sometime in January, they charge me tax, which I paid, and said they'd send me the TDS Certificate. (Their explanation was that this was according to IT rules). So far so good...

The fun started when I reached out to them in June for sending me the TDS. It took them a month to come back and say they don't have my PAN details (This was anyways surprising given the entire buzz around KYC, and the fact that I have had this card since 2005). Anyway I sent them whatever they wanted and since then, they've not been able to send me TDS certificate, citing the inability to print from TRACES (I know this is ridiculous!).

On being asked for proof that they paid the tax at all (which I very much doubt!!), they have quoted different dates, at different times, and the tax doesn't reflect in my Form 26. I have been following up with them for close to 3 months now, and escalated to the their quality head, managing director, and nothing seems to work.

Am not asking anything here, but just the TDS certificate for the money they charged me in name of Tax (I am saying this with full responsibility, as till now, they've been unable to provide even a single shred of evidence, to prove that they deposited this with IT authorities!). And if all that they wanted to do was charge me some money for the so-called gift, then be upfront and honest about it. Why hide behind the facade of TDS??

Really at my wit's end here. Does anybody over here have had a similar experience or can offer any contacts @ ICICI Bank, who can resolve this?
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