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Old 17th November 2020, 15:55   #3976
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Re: The Credit Card Thread

With HDFC Bank, they consider total credits v/s total debits to determine what would be the amount payable on the day the statement is generated. So if I get a statement of 60k, and before the due date if there is more than 60k of refunds to the card, then that would end up with me not having to pay anything extra as a credit card payment. However, like I had mentioned a few posts earlier, in my case I got a fat refund, and had already paid the statement balance which ended up in a negative statement balance. I didnt get any refunds so far, but am looking forward to what happens to the next statement.
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Old 17th November 2020, 16:52   #3977
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Re: The Credit Card Thread

Hi everyone,

I need your feedback. I received a call from HDFC enquiring if I am interested to buy HDFC Regalia Credit Card. The overall review on the card seems positive. What is your feedback on this card? Plus, the lady said I can send the documents through WhatsApp. Is it safe? I suggested sending an executive to my home.
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Old 17th November 2020, 18:21   #3978
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Re: The Credit Card Thread

Quote:
Originally Posted by prasathlr View Post
Hi everyone,

I need your feedback. I received a call from HDFC enquiring if I am interested to buy HDFC Regalia Credit Card. The overall review on the card seems positive. What is your feedback on this card? Plus, the lady said I can send the documents through WhatsApp. Is it safe? I suggested sending an executive to my home.
Regalia is a good card, but ensure it is lifetime free card. Else to reverse the fee, you will need to spend 3L in a calendar year.

Do not send any documents on whatsapp, enough frauds have happened this way. Let them send an executive to your residence and please check for proper credentials before sharing your documents. Clearly mark the purpose of sharing the documents on the photo copy.
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Old 17th November 2020, 18:42   #3979
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Re: The Credit Card Thread

Quote:
Originally Posted by prasathlr View Post
Hi everyone,

I need your feedback. I received a call from HDFC enquiring if I am interested to buy HDFC Regalia Credit Card. The overall review on the card seems positive. What is your feedback on this card? Plus, the lady said I can send the documents through WhatsApp. Is it safe? I suggested sending an executive to my home.
Regalia is considered to be one of the premium offerings from HDFC bank. As the largest private bank in India, they run many cashback offers (both offline and online). HDFC also runs offers with various merchant to give you 2x/5x/10x of the regular points which multiplies the reward rate so well.

Apart from the above benefits, this card also is eligible for domestic / international lounge access and comes with a decent reward redemption rate of ~1.3%.

If you don't own a HDFC credit card, this would be an ideal one to possess.
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Old 17th November 2020, 19:33   #3980
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Re: The Credit Card Thread

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Quote:
Originally Posted by binand View Post
Most card providers have language in their T&C that only payments that you trigger are counted towards "card payment" and not refunds and other credits. So the refund that you got is not considered as a payment.
Quote:
Originally Posted by Jaguar View Post
In case of HDFC, any credit is counted towards payment.
Quote:
Originally Posted by logicalidiot View Post
Thanks for sharing. Maybe not every banks allow this but I think I did do this once with HDFC CC.
I was mostly talking from memory, based on a conversation with a bank executive a while back at a professional event. I myself have not faced this situation ever. But the gist of that conversation was:

Banks define "credits" into the card account and "payments" into the card account differently. All payments are also credits, but not vice versa. For example: cashbacks, charge cancellations/reversals, reward points encashing, other promotional credits etc. are credits but not payments. And they insist that the minimum payment has to be a payment and not simply a credit. It is possible the treatment is different for different banks, so you really need to read the two documents: Cardholder Agreement and MITC (Most Important Terms & Conditions) that the banks include in the card delivery package and are also available on their websites.
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Old 17th November 2020, 20:07   #3981
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Re: The Credit Card Thread

SBI seems to have a harsher policy than HDFC at least. I had received a refund into my SBI card which covered the amount due, hence I did not make any payment that month. It was only 2 months later that I realized that they had hit me with a late payment charge.

Unfortunately it was too late to request them to roll it back :-(
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Old 18th November 2020, 00:26   #3982
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Re: The Credit Card Thread

Quote:
Originally Posted by prasathlr View Post
Hi everyone,
... Plus, the lady said I can send the documents through WhatsApp. Is it safe? I suggested sending an executive to my home.
Quote:
Originally Posted by speedmiester View Post
...
Do not send any documents on whatsapp, enough frauds have happened this way. Let them send an executive to your residence and please check for proper credentials before sharing your documents. Clearly mark the purpose of sharing the documents on the photo copy.
Why is sending the docs through whatsapp more unsafe than giving photocopies to an executive?
He can take a photo and get into whatsapp if he wants rt
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Old 18th November 2020, 09:18   #3983
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Re: The Credit Card Thread

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Originally Posted by JohnyBoy View Post
Why is sending the docs through whatsapp more unsafe than giving photocopies to an executive?
He can take a photo and get into whatsapp if he wants rt
Which is why I tried to do it ALL online with HDFC, just doesn't work. Did the application online; later a human comes in between and says you HAVE to do it all offline. Tries to up/cross sell and all that nonsense. Comes home takes my docs and I have not heard back from him since a month.

If you folks know who I can escalate to in the credit card section of HDFC, would be great.
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Old 18th November 2020, 10:00   #3984
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Re: The Credit Card Thread

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Originally Posted by JohnyBoy View Post
Why is sending the docs through whatsapp more unsafe than giving photocopies to an executive?
Not because it is WhatsApp; the problem is with the fact that the recipient of the document is unauthenticated. If you have some way of authenticating the recipient WhatsApp should also carry the same risk as any other mode.

When someone comes to pick up the docs, you can authenticate them via an ID card.

When you email the docs you can authenticate the recipient by their email domain.

When you upload it to a website you can authenticate it through certificate and other domain authentication methods.

With WhatsApp, nothing.
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Old 18th November 2020, 11:03   #3985
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Re: The Credit Card Thread

In all my cards the only one that adjusts credits automatically is AMEX charge card. I have observed that any credits that come between issuing the statement and the due date are adjusted continuously (I keep checking online).
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Old 18th November 2020, 11:54   #3986
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Re: The Credit Card Thread

Sorry, do not know how to quote a post that isn't in this thread.

I am referring to THIS one.

Assuming this was paid via a credit card, why will the bank hold payment ? The transaction was authorised by the card holder. Isn't it the card holder's responsibility to do due diligence ?
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Old 18th November 2020, 12:36   #3987
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Re: The Credit Card Thread

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Originally Posted by vinu_h View Post

Assuming this was paid via a credit card, why will the bank hold payment ? The transaction was authorised by the card holder. Isn't it the card holder's responsibility to do due diligence ?
From Citibank's website

The transaction that you need to dispute may fall under any of the below categories:
  • Unauthorized/ Fraudulent transaction
  • Transaction failed but debited
  • Paid by alternate means
  • Duplicate billing on the card for the same transaction at the merchant outlet
  • Goods not delivered by merchant/services not rendered
  • Non-receipt of refund after the turn around time committed by the merchant
  • Credit not processed by the merchant
  • Cash not dispensed from the ATM

I am guessing this falls under point 5.
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Old 18th November 2020, 13:51   #3988
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Re: The Credit Card Thread

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Originally Posted by akshaymahajan View Post
From Citibank's website

The transaction that you need to dispute may fall under any of the below categories:
[*]Goods not delivered by merchant/services not rendered
Thanks, but, I want to understand this a little better. On what grounds would Citibank hold the payment ? How does one prove to them that goods/services have not been delivered ? Would the evidence provided by the OP in Tata Cliq case be adequate ?
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Old 18th November 2020, 14:20   #3989
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Re: The Credit Card Thread

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Originally Posted by vinu_h View Post
On what grounds would Citibank hold the payment ? How does one prove to them that goods/services have not been delivered ? Would the evidence provided by the OP in Tata Cliq case be adequate ?
I have had to do this twice in my 20-year long association with Citibank. Non-delivery of the promised product/service is sufficient reason to raise a chargeback. With Citi, I needed to fill in a form and attach whatever correspondence I have had with the merchant. If it is an online merchant, attach copies of emails/social media outreaches. If offline, declare the dates and times you went to the establishment to reason out. Same for customer care calls.

As soon as the bank receives the complaint, they will credit the card account with the disputed amount and hold payout to the merchant. Then an investigation will close the matter (timeline: 2 months). If your complaint is genuine and you have made sincere efforts to solve the problem then the resolution will be in your favour.

Also merchants are severely penalised by Visa/Mastercard for chargebacks. Huge fines plus the ability to process cards are at risk for them. In case of random e-commerce sites the neck on the line would be of the payment aggregator (Tech Process/RazorPay etc.).
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Old 18th November 2020, 15:06   #3990
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Re: The Credit Card Thread

Hi everyone, last month I used my Flipkart Axis bank credit card for jewellery purchase in Tanishq showroom and I was expecting decent amount of cashback (1.5% of ~5L purchase value) to show up in my statement. Well, I received none and upon calling customer care I was informed that gold purchase is not eligible for cashback even if brought from offline store. I have many other credit cards (Yes First Exclusive, Amazon Pay ICICI, HPCL Coral etc) that offer decent rewards for offline purchase but I went with Axis thinking I will directly get statement credit. Learnt a lesson to read the TnC of credit cards very carefully before deciding which card to use for what! Sharing it here for the benefit of other users.
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