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Old 2nd March 2020, 16:16   #3526
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Re: The Credit Card Thread

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Originally Posted by haridsv View Post
When I say cashback, I refer to the value of the giftcards. The leagal lingo says that they have no cash value, but look at the cash equivalent. E.g., to get a Rs.8000 Amazon giftcard, you would be spending Rs.8000 cash. I hope what I am saying makes sense to you.
Well, the generic term I have seen getting used for this is Reward Rate instead of cashback In credit card terminology, cashback has a completely different meaning. Hence, Reward Rate is being used. Hence, I was confused as what cashback is being referred here.

Coming to MRCC's Reward Rate, the reward rate starts dropping drastically if you use is for more than the 4 x 1000 Rs. transaction. So for the past 2+ years, I have limited my usage of Amex MRCC for that much only.

You mentioned you have Regalia and it does not give good value in front of Amex which is surprising. As Regalia gives you 13.33% Reward Rate (If you can use Reward Points for Flight / Hotel Bookings). The only downside is the recent new T&C of maximum 70% payment by points.

In general, every card gets devalued every 3 to 4 years average. So yes, Amex too will someday decide to stop those 4 x 1000 transactions or go the Gold Charge Card way of minimum 6 x 1000 Rs. transactions.
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Old 2nd March 2020, 19:24   #3527
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Re: The Credit Card Thread

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Originally Posted by tejas08 View Post
Well, the generic term I have seen getting used for this is Reward Rate instead of cashback In credit card terminology, cashback has a completely different meaning. Hence, Reward Rate is being used. Hence, I was confused as what cashback is being referred here.
Fair enough! Strictly speaking, calculating reward rate is requires one to calculate the cash equivalent of the deal they are getting, so they become one and the same, though I understand that using the term reward rate will help clarify that it is not the cash in hand that one is getting.

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Originally Posted by tejas08 View Post
Coming to MRCC's Reward Rate, the reward rate starts dropping drastically if you use is for more than the 4 x 1000 Rs. transaction. So for the past 2+ years, I have limited my usage of Amex MRCC for that much only.
I miscalculated the rate the last time (forgot to halve it), but at 30k per month spend, you would still get ~2.4% and at 60k per month, it will come down to ~1.6% (i.e., if you choose to get Amazon giftcard), which are still better than what many cards offer and IMHO for something that is far more versatile.


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Originally Posted by tejas08 View Post
You mentioned you have Regalia and it does not give good value in front of Amex which is surprising. As Regalia gives you 13.33% Reward Rate (If you can use Reward Points for Flight / Hotel Bookings). The only downside is the recent new T&C of maximum 70% payment by points.
I am aware that points are more valuable when redeemed on flight and hotel bookings, but I didn't think the rate would be so high. Just curious how this rate is calculated?
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Old 2nd March 2020, 20:37   #3528
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Re: The Credit Card Thread

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Originally Posted by haridsv View Post
I miscalculated the rate the last time (forgot to halve it), but at 30k per month spend, you would still get ~2.4% and at 60k per month, it will come down to ~1.6% (i.e., if you choose to get Amazon giftcard), which are still better than what many cards offer and IMHO for something that is far more versatile.
1.6% is a decent reward rate. The reason I call it decent is I am comparing with two super premium cards which I have. The flat reward rate is 3.3% with reward rate for few things going as high as 33.3%.

Cards in question are SCB Ultimate & HDFC Diners Club Black.

Both these cards don't offer Amazon vouchers. But enough redemption options are available in other means. On HDFC, the points will be used for Flight or Hotel bookings.

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Originally Posted by haridsv View Post
I am aware that points are more valuable when redeemed on flight and hotel bookings, but I didn't think the rate would be so high. Just curious how this rate is calculated?
Have you not used HDFC Smartbuy portal for the 10X offers. Via this, you get 40 Points per 150 Rs. which is 20 Rs. equivalent. That's how you get a reward rate of 13.3%.

On the HDFC Diners Club Black & Infinia, this goes to 50 Points per 150 Rs. and each point is equal to 1 Rs. So, the reward rate on these cards go upto 33.3%.
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Old 2nd March 2020, 20:45   #3529
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Re: The Credit Card Thread

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Originally Posted by tejas08 View Post

On the HDFC Diners Club Black & Infinia, this goes to 50 Points per 150 Rs. and each point is equal to 1 Rs. So, the reward rate on these cards go upto 33.3%.
I think Re 1 per point is only for flight/hotel booking, otherwise it's 50p per point.
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Old 3rd March 2020, 09:23   #3530
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Originally Posted by kavensri View Post
My regular petrol pump stopped keeping Citibank machines. So, even I am facing the same situation as you are facing now. Even I don't know the solution for this issue.
I faced this issue yesterday. So I filled the petrol for ₹1000 using Citibank card. Later I see an sms from Citibank asking me if I want to redeem points against my fuel transaction. The link was valid for 24 hours. Redeemed it. Going forward this is how redemption will work. Check your sms app post swipe at any IOCL outlet. You will get a redemption link. Hope this helps.
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Old 3rd March 2020, 09:28   #3531
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Re: The Credit Card Thread

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Originally Posted by sairamboko View Post
I faced this issue yesterday. So I filled the petrol for ₹1000 using Citibank card. Later I see an sms from Citibank asking me if I want to redeem points against my fuel transaction. The link was valid for 24 hours. Redeemed it. Going forward this is how redemption will work. Check your sms app post swipe at any IOCL outlet. You will get a redemption link. Hope this helps.
Need one clarification. You mean to say, even if they swipe my Citibank card on different machine, this reward thing will work?
Also, i have one more query. If they used a different machine (non Citibank machine) to swipe your Citibank card, surcharge will be charged for the transaction. Did that happen in your case?
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Old 3rd March 2020, 12:59   #3532
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Re: The Credit Card Thread

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Need one clarification. You mean to say, even if they swipe my Citibank card on different machine, this reward thing will work?
Also, i have one more query. If they used a different machine (non Citibank machine) to swipe your Citibank card, surcharge will be charged for the transaction. Did that happen in your case?
1. Yes, the reward redemption is via SMS now. It will work on any bank's swipe machine. Only condition is you need to fill the fuel from the list of bunks mentioned in their website.
Link - https://www.online.citibank.co.in/Cr...INCITIINOILOTS
2. Surcharge waiver is for all bank machines. This was made recently around December. i am trying to find the email communication on this. Will share later. For me surcharge waiver happened for non citibank machine.
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Old 3rd March 2020, 13:14   #3533
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Re: The Credit Card Thread

Got a Digicard from Standard Chartered by post. Been using Landmark rewards card for about 10 years now. Not sure why second card was sent though 1st one is still working. No request from my end. Did get a message that the Landmark rewards program has ended, but I've never availed any rewards. Should I hotlist the new card or the old one? Mainly use for fuel, vehicle service and occasionally shopping or restaurants.
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Old 3rd March 2020, 13:14   #3534
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Re: The Credit Card Thread

Hi all,
I have a Kotak Royal signature credit card that I have not been using much (HDFC regalia has better reward system).
When Kotak guys sold me the card they promised a lifetime free credit card as I have a savings/salary account with Kotak. Now last month they have charged me AMC. When I contacted their customer service, they are least bothered about helping me. They even asked me to close the savings bank account for all they care about.
I have a question: When is the AMC charged? At the beginning of the year or at the end? Because if it at the beginning of the year, I don't want to pay for the card and would like to deactivate it right away
What are my options here guys?
Thanks in advance
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Old 3rd March 2020, 13:27   #3535
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Re: The Credit Card Thread

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Originally Posted by rjainv View Post
I think Re 1 per point is only for flight/hotel booking, otherwise it's 50p per point.
Yes. As with all HDFC cards, best redemption rate is on Flights & Hotels. I personally am not bothered with it. I take a vacation every year and will happily book revenue tickets with points. So for me and many others like me, they are giving 1 RP = 1 Re. at the end of the day.
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Old 3rd March 2020, 13:55   #3536
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Re: The Credit Card Thread

I also got an Axis Magnus credit card recently something matching Infinia by HDFC. It does seem to give more points in general usage but nothing beats the 10x offer that keeps on going and the 1:1 redemption for flight/hotel bookings of Infinia. I don't think i have booked a flight using money for the past year or two except for a couple of cases where those urgent expensive flights were used to get even more points.

5 points for every Rs. 150. That's 50 points for every Rs. 150 under 10x scheme. And its 1:1 redemptions for flights or hotel booking. Effectively i am getting 33% off flight bookings or from purchases on Amazon/Flipkart. Under the 10x scheme Infinia allows maximum of 25000 reward points per month which means can purchase/book upto Rs. 75000 per month for maximum benefit. Anything over goes back to normal reward rate.

Last edited by AnandB : 3rd March 2020 at 13:56.
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Old 3rd March 2020, 14:06   #3537
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Re: The Credit Card Thread

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Originally Posted by sairamboko View Post
1. Yes, the reward redemption is via SMS now. It will work on any bank's swipe machine. Only condition is you need to fill the fuel from the list of bunks mentioned in their website.
Link - https://www.online.citibank.co.in/Cr...INCITIINOILOTS
2. Surcharge waiver is for all bank machines. This was made recently around December. i am trying to find the email communication on this. Will share later. For me surcharge waiver happened for non citibank machine.
Adding to this:
The SMS has a web link. This link has to be clicked within 24 hours to redeem the points. This redemption mechanism is not just for fuel but also for other purchases like movie tickets, etc.
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Old 3rd March 2020, 14:30   #3538
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Re: The Credit Card Thread

Quote:
Originally Posted by sairamboko View Post
1. Yes, the reward redemption is via SMS now. It will work on any bank's swipe machine. Only condition is you need to fill the fuel from the list of bunks mentioned in their website.
Link - https://www.online.citibank.co.in/Cr...INCITIINOILOTS
Thanks for the information. I am bit surprised to know that my regular petrol station is not listed in the link. I am surprised because it is CoCo and hence i was expecting it to be present in that list. May be, that also explains why they have removed the Citibank swiping machines since last few months?
Quote:
Originally Posted by sairamboko View Post
2. Surcharge waiver is for all bank machines. This was made recently around December. i am trying to find the email communication on this. Will share later. For me surcharge waiver happened for non citibank machine.
I filled in the fuel on 2nd Jan from this petrol station and surcharge was added to my total bill. Last week, i filled in again and I need to see whether they are going to add surcharge this time or not.
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Old 3rd March 2020, 14:48   #3539
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Re: The Credit Card Thread

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Originally Posted by AnandB View Post
Effectively i am getting 33% off flight bookings or from purchases on Amazon/Flipkart.
Alas I realized this SmartBuy benefit very late much to my detriment. But isn't it only for Flipkart? Does it work for Amazon too? I'm using the ICICI Amazon Pay card like a fool then!
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Old 3rd March 2020, 14:55   #3540
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Re: The Credit Card Thread

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Originally Posted by digitalnirvana View Post
Alas I realized this SmartBuy benefit very late much to my detriment. But isn't it only for Flipkart? Does it work for Amazon too? I'm using the ICICI Amazon Pay card like a fool then!
https://offers.smartbuy.hdfcbank.com/infinia

You need to go thru the Smartbuy Infinia page. On there click Amazon then it asks for last 4 digits and mobile number then takes you to Amazon. There you can buy anything and use that infinia card for 10x offer. But it won't work if you have items in your cart before coming to Amazon using Smartbuy. So only add stuff after coming from Smartbuy.
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