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Old 9th October 2020, 10:16   #3871
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Re: The Credit Card Thread

I have a question on Amazon Pay ICICI credit card. If I take the card on my wife's name and use it on the Amazon prime account which is on my name, will I still earn 5% back?
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Old 9th October 2020, 12:16   #3872
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Re: The Credit Card Thread

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Originally Posted by DigitalOne View Post
I had Payback points from an earlier ICICI Coral card. I had tried redeeming of Payback points to Amazon Pay voucher earlier through the Payback website. It gave some weird error and I gave up. After reading this, installed the Payback app and the redemption went thru smoothly. Thanks!

Since getting the ICICI Amazon credit card, I have hardly used the ICICI coral card.
I had an ICICI Titanium credit card before. They used to charge me Rs. 100 plus taxes for everytime I redeemed my Payback points. So it made sense to redeem only when I redeemed large number of points.

I surrendered my ICICI Titanium card after getting the ICICI Amazon Pay card because I was not using it at all.

Now, I am not charged by ICICI for redeeming my Payback points
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Old 9th October 2020, 12:51   #3873
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Re: The Credit Card Thread

PLease delete this reply if it's not relevant to this forum.

Not sure whether this TeamBHP allows credit card threads to be posted here but getting an assurance over the phone saying that it's a lifetime free credit card is a trick used by telecallers as their only motive is to sell the card and complete their monthly target.
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Old 9th October 2020, 13:30   #3874
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Re: The Credit Card Thread

Amex currently has an offer where you can one year premium membership for Calm app. I did this last month but the offer is on till 31st Oct. Once you activate it you can go on settings and cancel subscription so you won't be billed next year.

https://livefromalounge.com/amex-calm-app/

https://www.calm.com/americanexpressglobal
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Calm is the #1 app for Sleep, Meditation and Relaxation. Join the millions experiencing better sleep, lower stress, and less anxiety with our guided meditations, Sleep Stories, breathing programs, stretching exercises, and relaxing music.
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Calm Premium subscription fee is currently $49.99
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Old 11th October 2020, 14:57   #3875
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Re: The Credit Card Thread

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Originally Posted by haridsv View Post
I have a question on Amazon Pay ICICI credit card. If I take the card on my wife's name and use it on the Amazon prime account which is on my name, will I still earn 5% back?
I guess the question boils down to what happens if the card is used on an account that doesn't belong to the owner. I came across an FAQ with the below point:

Quote:
If I borrow an Amazon Pay ICICI Bank Credit Card from someone else and use it for my own purchases, will I get earnings in the form of Amazon Pay Balance?

If I borrow an Amazon Pay ICICI Bank Credit Card from someone else and use it for my own purchases, will I get earnings in the form of Amazon Pay Balance?
Please note that these earnings will only be transferred to the card owner’s Amazon account. If you have borrowed an Amazon Pay ICICI Bank Credit Card from another person and are using it for purchase, applicable Amazon Pay balance will not be added to your Amazon account.
I guess what this means is that the rewards will be received, but not in my prime account, but in my wife's account. However, I also found a page that states that you get 5% rewards only if you are a prime member and 3% otherwise. Which means, there are two disadvantages with this approach and not worth doing it. Too bad, I was looking for a good starting card for my wife and this seemed like a great option. I can also get the Coral card for her, but it doesn't seem to be very useful. HDFC also offered Regalia, but I already have it on my name.
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Old 11th October 2020, 15:33   #3876
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Re: The Credit Card Thread

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Originally Posted by fazayal View Post
I have been using ICICI Amazon Pay Credit Card for around one and a half years now. I think this card has probably the best reward system. The rewards are also not in some useless points but as Amazon Pay which is as good as cash. 5% cash back on all purchases on Amazon while 1% cash back everywhere else is a very decent deal. No annual fees plus I remember they gave Rs. 500 in Amazon Pay as welcome bonus.
Calling the Reward Points useless is too naive in my opinion. If you have the right credit card(s) for the spends that you do regularly, you can get some extraordinary rewards like Economy or even Business Class Flight Tickets, Luxury Hotel bookings etc for free. This is quite an unused territory in India. Very few have been taking advantage of this. And this makes it even more lucrative as Card issuers are still giving a good amount of benefits on these lines.
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Old 11th October 2020, 16:40   #3877
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Re: The Credit Card Thread

Any idea on a customer care email id for ICICI Amazon card application? I have been trying to apply but my email id that is listed after i enter my current ICICI card number needs a correction. If I contact ICICI they say I need to check with Amazon and Amazon says that they have the info shared by ICICI.
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Old 11th October 2020, 18:16   #3878
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Re: The Credit Card Thread

I have the Standard Chartered Super Value Titanium Card (with the 5% Cashback offer on fuel spends at IOCL).

I have a couple of tankfulls worth of cashback accrued but whenever I try to redeem it, it gives me a strange error and throws me out. Never have I been able to use it!!

Has anyone else faced a similar issue?

P.S.: I use the SC mobile app.
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Old 11th October 2020, 23:45   #3879
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Re: The Credit Card Thread

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Originally Posted by tejas08 View Post
Calling the Reward Points useless is too naive in my opinion. If you have the right credit card(s) for the spends that you do regularly, you can get some extraordinary rewards like Economy or even Business Class Flight Tickets, Luxury Hotel bookings etc for free. This is quite an unused territory in India. Very few have been taking advantage of this. And this makes it even more lucrative as Card issuers are still giving a good amount of benefits on these lines.
Only a select few can get those things you have mentioned. Otherwise, one usually gets 1-2 reward points per ₹ 100 spent. These could only be reimbursed to get things which are available on the reward point website. Most stuff is useless. Even if you find something worthwhile, you get stuff worth Rs. 100 after consuming 500 points or so. Some banks charge fees for redeeming points. Plus points expire after couple of years or so.

With real money coming into Amazon Pay every month, it is the best thing one could have asked for.
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Old 12th October 2020, 08:40   #3880
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Re: The Credit Card Thread

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Originally Posted by tejas08 View Post
Calling the Reward Points useless is too naive in my opinion. If you have the right credit card(s) for the spends that you do regularly, you can get some extraordinary rewards like Economy or even Business Class Flight Tickets, Luxury Hotel bookings etc for free.
I agree to you that the credit card is an unexplored territory in the country and you do get extra ordinary rewards like flight tickets/lounge access/luxury hotel stays etc. but these are offered mostly on the premium and super-premium credit cards which has an annual membership fee of ₹10k or waived of on spends of above 8-10 lakhs in a year. The number of people who spend above 8+ lakhs in a year is considerably less in the country unless you use your credit card for literally every stuff. I'm sure the banks do not want more people using these cards especially not the middle class. Their target is niche and that is why they are able to give these offers.

For a person with lesser annual spends, it makes more sense to get an Amazon ICICI card as fazayal said.
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Old 15th October 2020, 13:56   #3881
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Re: The Credit Card Thread

Paytm just showed me this when loading 1000 into the wallet from my Amex card. Big bummer for us getting those easy 4 x 1000 Amex membership rewards points.

The Credit Card Thread-ec800f88b6874b62a64cfa96ce1c7134.png
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Old 15th October 2020, 23:02   #3882
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Re: The Credit Card Thread

One question for the experts.

Out of the blue, ICICI bank called my brother and offered to increase the credit limit on his life time free platinum card to 3x times what he currently has. This would take his limit to dangerous territory in case of a fraud and hence he politely refused the upgrade. He never ever requested for this increase.
What is the reason for them offering to increase the limit 3 times.
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Old 16th October 2020, 00:07   #3883
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Re: The Credit Card Thread

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Originally Posted by Ithaca View Post
One question for the experts.

Out of the blue, ICICI bank called my brother and offered to increase the credit limit on his life time free platinum card to 3x times what he currently has. This would take his limit to dangerous territory in case of a fraud and hence he politely refused the upgrade. He never ever requested for this increase.
What is the reason for them offering to increase the limit 3 times.
That he has been a safe customer, never defaulted or did EMI?

I know because I have been and hence I get these calls regularly.

Bank benefits by having a larger portfolio/balance sheet. It is their business after all to offer credit.

Additionally, sometimes this is also a trick to convert your card into some type that involves either annual charges or minimum spend per year to waive off those charges.

So they are only trying to improve their bottom line, like always.

Btw having a good limit is actually beneficial to be honest. If they don't have any hidden charges, your brother should go for it.

Last edited by sunilch : 16th October 2020 at 00:10.
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Old 16th October 2020, 00:59   #3884
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Re: The Credit Card Thread

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Originally Posted by Ithaca View Post
One question for the experts.

Out of the blue, ICICI bank called my brother and offered to increase the credit limit on his life time free platinum card to 3x times what he currently has. This would take his limit to dangerous territory in case of a fraud and hence he politely refused the upgrade. He never ever requested for this increase.
What is the reason for them offering to increase the limit 3 times.
Most likely they have an algorithm. Depending on your positive spends, payment schedule, fund availability, credit score, more relationship with the bank (Savings account, FD, Trading account, insurance, loans etc.) they keep increasing the credit limit regularly. For a new customer the limit given is on lower side but if the algorithm reads that this customer is trustworthy, they offer to increase credit limit by huge amount.

It can also go in the other direction if there is default, lowering of credit score etc.
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Old 16th October 2020, 10:07   #3885
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Re: The Credit Card Thread

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Originally Posted by sunilch View Post
Bank benefits by having a larger portfolio/balance sheet. It is their business after all to offer credit.
Additionally, sometimes this is also a trick to convert your card into some type that involves either annual charges or minimum spend per year to waive off those charges.
So they are only trying to improve their bottom line, like always.
If they don't have any hidden charges, your brother should go for it.
Noted, Sir. Frankly since the credit limit is too much - more than double his monthly take home - he has refused to accept the increase. They have assured him that it will still continue as life time free but he has other cards which are also lifetime free and does not require such an increase.

Quote:
Originally Posted by fazayal View Post
Most likely they have an algorithm. Depending on your positive spends, payment schedule, fund availability, credit score, more relationship with the bank (Savings account, FD, Trading account, insurance, loans etc.) they keep increasing the credit limit regularly.
Noted, Sir. He has a good financial relationship with the bank and I guess that's why they wanted to triple his credit limit. He is frankly very pleased with his current limit and does not want to increase since it is in dangerous territory in case of a fraud.
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