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-   -   The Credit Card Thread (https://www.team-bhp.com/forum/shifting-gears/92603-credit-card-thread-233.html)

I would also recommend using the CRED app for tracking credit card payments & due dates. Its a one time activity adding the cards to one's account post which the app keeps a track of due dates and outstanding balance. Worth a try.

+1. The thing works! Best part is its not a dedicated app all over again. :thumbs up

I have a question for credit card experts here. I have been using Citibank Rewards card for a long time. Now, I am thinking of applying for a HDFC Regalia credit card. I read that the rewards points accrued on Regalia card are valid for 2 years only. Let us assume that I have earned 10k rewards point on Regalia which amount to Rs 5k in value terms. Can I convert these reward points into cashback which can reduce by credit card bill? I do not want to be in a situation where I am forced to make a transaction (book a flight or hotel) just to utilize reward points before their expiry date.

The best conversion rate of Reward Points in HDFC Credit Cards are achieved through Flight / Hotel Bookings. All other redemption are half the value of that.

So if you want to redeem 10K points, it will be

For Flight / Hotel Bookings - 5000 Rs. equivalent
Statement credit or other Rewards - 2500 Rs. equivalent

Thanks for the quick response! Would you recommend any other credit cards which are closest to Regalia in terms of rewards? I checked out the Citibank IOC card but I do not have a Indian Oil petrol pump near my house.

Have been using Cred for over a year now. It now also has the option to set up Auto-pay. No need to track due dates or outstanding while still earning the Cred coins.

I have found the solution one of the most convenient one till date.

Thanks for all the suggestions.

My wife has got me an addon card to her HDFC Bank Solitaire card. She is far more prudent when it comes to financial matter. I think this is a workable solution.

Thank you for the information. I have mailed them the form with a request to Upgrade to Regalia. Lets see what happens.

Thank you, I checked this. But I got a message stating 'No upgrade available for your account'. I have mailed the Upgrade form mentioned by tejas08. I will see how it goes.If it doesn't work out, I will try reopening the savings account with them. I had my salary account with them 15 years ago which became dormant. I used to get yearly statements of the dormant account for a few years after which it stopped.

You can also get Amazon vouchers for Regalia card.
Though the value of the reward points will be 0.35Rs per point.

Flight or Hotel bookings are no longer lucrative for Regalia as one can only use points for 70% of the transaction value and the rest 30% has to be paid by card.

My ICICI card isn't scanned by CRED. The app displays the card but doesn't show the due amount. Citi and HDFC cards are perfectly alright. Is anyone else facing this issue?

Same here. Anyway my ICICI card has been replaced so many times the official recorded number is probably an old number. I still pay on an old number account, the current card number account still gets updated.

After reading about CRED in this thread I too tried it. While it is convenient, some where in the back of my mind I feel as if there might be privacy issues. What is certain is that certain parties has access to my (our) credit card usage history. So a part of our finance history is recorded out there, tabulated and saved for eons to come. Till now I thought those data were separate records in each bank's database.

The app itself does not show correct status of bill payment. Some bills already paid last week are shown as overdue.

Our credit history is an open secret. Today every financial organisation (no matter the size) has access to it. If you see, there are multiple credit score check websites now ranging from BankBazaar to ClearScore. Every day we receive several phone calls made by different bank reps offering loans citing good credit scores. How do the banks know our credit scores/history when we haven't dealt with any of them previously? Like phone numbers our PAN numbers are also out in the open. All we try to do is just safeguard ourselves from any financial damage.

None of them have access to your credit score / history unless you authorise their access.

They don't. They just take a shot in the dark that "you have a good credit score, you are eligible for loan from us for Rs. NNN".

It is not. To look up anyone's PAN you require their name, DoB and access to the mobile where the OTP is sent.

Those considering CRED or using it already may find this interview of Kunal Shah interesting:
https://yourstory.com/2019/08/kunal-...erview-sequoia

He talks about building a community of members based on trust, and then gives some examples of potential rewards the members will get in future. Its an interesting concept, but it's given that CRED will want to collect data from individuals on spending patterns, and share it with other partners, so that later they will want to target you with some rewards.

Speaking of trust - most important aspect for me on using it or not right now is how much one can trust CRED itself? In its current form I am not able see much of a benefit as such for what it offers.

Having installed the app and activated it, I have authorised CRED to access my credit cards and my credit history. The developer may talk about trust but he is running a business. When it comes time to monetise this database he certainly will.

I do not see any option to opt out after installing and activating the app. Uninstalling will not undo the access right you have granted to CRED. I wish it does. i sort of regret using this app.