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Old 6th June 2020, 15:35   #3676
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Originally Posted by rkg View Post

For all other categories of payments like scan n pay, bill pay etc Amazon Pay wants to one to link a bank account for UPI transfer.

I use Amazon Pay for everything in Amazon. I regularly use it to pay pills (landline, mobile, DTH) and I load it using my Amex card. I have never linked any bank account there.
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Old 6th June 2020, 15:36   #3677
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Originally Posted by rkg View Post
It's not bluff. Amazon Pay does not allow any payment through it with amazon pay balance, except @ Amazon.
For all other categories of payments like scan n pay, bill pay etc Amazon Pay wants to one to link a bank account for UPI transfer.
Disagree. All my bill payments over past many months have been through Amazon Pay balance loaded via Amazon Pay Vouchers mostly. Attaching a sample of the transactions on my Amazon Pay Account. Electricity, MTNL Landling, Three Postpaid Mobiles, Three Prepaid Mobiles & 1 Gas bill, all being paid through Amazon Pay Balance.

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With regards to 'Scan & Pay', yes, that goes through UPI only as that has been made for Amazon UPI.
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Old 8th June 2020, 18:03   #3678
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Originally Posted by tejas08 View Post
Use Amex MRCC card for NPS Payments. I do four investments of 1000 Rs. each in NPS (National Pension Scheme) every month. Surely there is a nominal charge for making investments through credit card. This charge is 1.6% including taxes. Hence, for every 1000 Rs. invested, the cardholder must pay a charge of 10.6 Rs.
I just finished setting up my NPS account through Kfintech (Karvy) and looking at the payment options. I contacted them for charges and this is what they said:
Quote:
Net Banking: ₹0.60 per transaction + GST at 18%-No Limit for amount
Debit Card: ₹0.80% of the transaction amount + GST at 18%-2000 per transaction
Credit Card: ₹0.90% of the transaction amount + GST at 18%- No limit for amount
CC charges look attractive so considering it. While Amex MRCC is one option, I am wondering if anyone knows what Merchant Category (MCC) under which these transactions fall so that I can see if there is any bonus points offer that can be applicable.
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Old 8th June 2020, 18:14   #3679
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I am sticking to buying Amazon Vouchers worth 5000 Rs every month.
Can you please tell me, how to convert my reward points to Amazon Vouchers?
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Old 8th June 2020, 22:50   #3680
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Originally Posted by haridsv View Post
I just finished setting up my NPS account through Kfintech (Karvy) and looking at the payment options. I contacted them for charges and this is what they said:

CC charges look attractive so considering it. While Amex MRCC is one option, I am wondering if anyone knows what Merchant Category (MCC) under which these transactions fall so that I can see if there is any bonus points offer that can be applicable.
Almost 2 years of usage of multiple premium & super-premium cards, I haven't found any other card that can offer better reward rate on NPS as the MRCC. The only pain is that you have to diligently do it as 4 x 1000 transactions every month for the best reward rate.

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Originally Posted by kavensri View Post
Can you please tell me, how to convert my reward points to Amazon Vouchers?
Amazon Vouchers are the worst of the lot in terms of conversion rate. On the Diners Club Blac Card, it gives 0.15 Rs per Reward Point whereas Cash Redemption gives 0.3 Rs. per Reward Point. There are a few other vouchers which give 0.5 Rs. per Reward Point. These are majorly travel and food related.

So I would suggest to take Cash Redemption option if none of the other vouchers appeal you.
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Old 8th June 2020, 23:06   #3681
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So i got a free ugrade from Yes Bank Preferred to Yes Bank Exclusive card(lifetime free), the card is pretty neat with unlimited lounge access for both primary card holder and add on card holder, i guess very few cards give this option.
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Old 8th June 2020, 23:45   #3682
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Originally Posted by tejas08 View Post
Almost 2 years of usage of multiple premium & super-premium cards, I haven't found any other card that can offer better reward rate on NPS as the MRCC. The only pain is that you have to diligently do it as 4 x 1000 transactions every month for the best reward rate.
I guess you are trying to maximize your other purchases on your premium and super premium cards so for you,using MRCC in this scenario is advantageous. In my case, all the cards I carry are entry level (other than MRCC, I have Regalia and SCSVT). I am tending to use MRCC as my default card unless Regalia or SCSVT has a clear benefit. This means, I won't have much advantage of using MRCC for NPS payments as the txn charges nullify the point value I get. May be I should just stick to online bank payment to keep the charges low?
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Old 9th June 2020, 01:02   #3683
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Originally Posted by haridsv View Post
I guess you are trying to maximize your other purchases on your premium and super premium cards so for you,using MRCC in this scenario is advantageous. In my case, all the cards I carry are entry level (other than MRCC, I have Regalia and SCSVT). I am tending to use MRCC as my default card unless Regalia or SCSVT has a clear benefit. This means, I won't have much advantage of using MRCC for NPS payments as the txn charges nullify the point value I get. May be I should just stick to online bank payment to keep the charges low?
You are right about my credit card usages. But between the MRCC & Regalia, there is a decent amount of rewards to the sought. I am not sure if you MRCC is Life-Time Free or not. Mine is Life-time Free, so I can limit my usage of MRCC to just 4 x 1000 Rs per month and get maximum rewards out of it. If yours is a paid card, then you will have to hit that 1.5 Lac mark spends.

My suggestion on those cards would be like this:

1. 4 x 1000 Rs. on MRCC every month on NPS = Rs. 48000
2. Buy Amazon Vouchers worth Rs. 5000 from HDFC Smartbuy every month till they are giving 5% cashback (Effective Reward Rate - 6.3%) = Rs. 60000 (Utility Bill Payments thru Amazon Pay)
3. Use Amex for Groceries & other online spends for balance 1.02 Lacs to get Annual Fee Waiver
4. Use SCB SVT for Fuel Spends
5. If you are shopping at any known brand, check for Vouchers under HDFC Smartbuy section, if available, use Regalia for buying vouchers. That will get you some more cashback at 5% rate.

This are just some tips I can give to maximise the reward rate. Rest it all depends on the spend type and annual spends.

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Originally Posted by AtheK View Post
So i got a free ugrade from Yes Bank Preferred to Yes Bank Exclusive card(lifetime free), the card is pretty neat with unlimited lounge access for both primary card holder and add on card holder, i guess very few cards give this option.

Nice! Whats the credit limit kind of on the YFE. Mine is pathetic (1/6th of the highest credit limit card & less than half of the lowest credit limit card) and Yes Bank have not bothered to even review it over the past one & half year.

Last edited by tejas08 : 9th June 2020 at 01:04. Reason: Reply to another post added
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Old 9th June 2020, 01:17   #3684
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Nice! Whats the credit limit kind of on the YFE. Mine is pathetic (1/6th of the highest credit limit card & less than half of the lowest credit limit card) and Yes Bank have not bothered to even review it over the past one & half year.
I just sent the consent so card should be delivered in few days,my current limit is around half of my highest limit card. I am expecting it to stay the same, and honestly I hardly use the card, I had the preferred card for the lounge access, and this just sweetens the deal. I will get an add on for wifey as well.
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Old 9th June 2020, 09:44   #3685
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Originally Posted by tejas08 View Post
Amazon Vouchers are the worst of the lot in terms of conversion rate. On the Diners Club Blac Card, it gives 0.15 Rs per Reward Point whereas Cash Redemption gives 0.3 Rs. per Reward Point. There are a few other vouchers which give 0.5 Rs. per Reward Point. These are majorly travel and food related.

So I would suggest to take Cash Redemption option if none of the other vouchers appeal you.
Thanks for the information. As I don't spend much on travel and food related, i will stick to cash redemption for the time being.
Thanks again.
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Old 9th June 2020, 10:14   #3686
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Default Re: The Credit Card Thread

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Originally Posted by haridsv View Post
I guess you are trying to maximize your other purchases on your premium and super premium cards so for you,using MRCC in this scenario is advantageous. In my case, all the cards I carry are entry level (other than MRCC, I have Regalia and SCSVT). I am tending to use MRCC as my default card unless Regalia or SCSVT has a clear benefit. This means, I won't have much advantage of using MRCC for NPS payments as the txn charges nullify the point value I get. May be I should just stick to online bank payment to keep the charges low?
What is MRCC, SCSVT, etc? We are getting complaints on usage of vague abbreviations. Please use full form. - Support Team
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Old 9th June 2020, 10:55   #3687
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If yours is a paid card, then you will have to hit that 1.5 Lac mark spends.
Mine is life time free as well. However, when there is no promotion benefit to be achieved with Regalia (e.g., no SmartBuy offer), I tend to use Amex when it is accepted as I can use Amex points for Amazon GC. I don't actually travel much, so the other option of using Regalia points for Air and Hotel bookings is a moot point for me.
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Old 9th June 2020, 16:56   #3688
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Default Re: The Credit Card Thread

One of my colleague, who uses SBI Elite card, got a statement this month asking to pay 4999 + 900 as annual maintenance fees. This card was given by SBI to the employees in our office a few years back and there was no charge at all for all these years. I still have not got my statement yet. Calls to SBI CC are not going through.

Any reason why they started the charges all of a sudden?
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Old 9th June 2020, 21:53   #3689
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Originally Posted by AltoLXI View Post
One of my colleague, who uses SBI Elite card, got a statement this month asking to pay 4999 + 900 as annual maintenance fees. This card was given by SBI to the employees in our office a few years back and there was no charge at all for all these years. I still have not got my statement yet. Calls to SBI CC are not going through.

Any reason why they started the charges all of a sudden?
SBI Elite always had this charges. It gets waived off if annual spend is more than 10L.
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Old 10th June 2020, 12:30   #3690
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Hello everyone, need your suggestions on the situation below.

I have purchased a LED TV from Croma last year, which was on an interest free EMI basis. The interest portion was supposed to be credited back into my card statement after a period of 90 days. I spoke to Bank customer care in January this year and executive confirmed that the cashback will be credited in February. However there was no credit in February and March. I spoke to Bank again in March and to my surprise, the executive couldn't see any cashback pending or done against my account.

I decided to take it up with Croma and their team came up with an explanation that there is no cashback to be credited as nothing in mentioned in my transaction slip. At the time of purchase, I was shown the amount reflecting against merchant payback as cashback (in the below slip).

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Now my questions are as below:

1. Why did Bank customer care executive confirm me in January about the cashback and then retracted their statement in march? Is it possible that Croma might have done some mischief?

2. Can anyone confirm if the Merchant payback mentioned is the cashback to be credited or it means something else in banking terms? If it means something else, then I am at fault for not paying enough attention while doing the transaction.

3. Clearly it isn't an interest free transaction now (in case I don't get money back) and hence Croma is at fault for fooling with customers?

4. Any suggestions to get the money back. Filing a consumer court complaint isn't worth the hassle given the amount.

This happened just a day before lockdown and everything took a backseat. TV was purchased from Croma Sector 49 Gurgaon. I have raised a complaint on their customer care phone and email id but the smart guys closed the complaint without resolution. I asked them to open it again and it is still open since March.

Thanks in advance.

PS: I couldn't find a proper thread to post this, hence posting it in credit card thread. Mods, please move to any other relevant thread if required. Thanks.

Last edited by ast.ggn : 10th June 2020 at 12:37.
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