Team-BHP > Shifting gears


Reply
 
Search this Thread
Old 3rd December 2020, 00:50   #4051
Senior - BHPian
 
govigov's Avatar
 
Join Date: Oct 2007
Location: Cochin!!!!!
Posts: 1,645
Thanked: 1,048 Times
Re: The Credit Card Thread

If the 'current outstanding' is lesser than the 'total amount due' (because of a refund from the previous bill cycle), is it safe for me to just pay the 'current outstanding' instead of the 'total amount due' from the statement?
govigov is offline  
Old 3rd December 2020, 08:49   #4052
BHPian
 
logicalidiot's Avatar
 
Join Date: May 2020
Location: Kannur/B'lore
Posts: 121
Thanked: 491 Times
Re: The Credit Card Thread

Quote:
Originally Posted by govigov View Post
is it safe for me to just pay the 'current outstanding' instead of the 'total amount due' from the statement?
This was discussed some time back, this post should have an answer for you - https://www.team-bhp.com/forum/shift...ml#post4932825 (The Credit Card Thread)
logicalidiot is offline  
Old 3rd December 2020, 09:11   #4053
BHPian
 
Join Date: Dec 2009
Location: Bengaluru
Posts: 513
Thanked: 777 Times
Re: The Credit Card Thread

Yet to receive the Std Chartered Ultimate card physically, but, online banking shows the limit to be abysmally low at INR 66k. Absolutely no connection to my credit rating or how much I make, even though I had submitted my latest pay slip. I see they charge INR 5k per year which works out to nearly 8% of the credit limit. Will the limit be revised once the card is activated ? Else, I see no sense in investing 5k. Wish I had come across this article earlier.
vinu_h is offline  
Old 3rd December 2020, 10:19   #4054
BHPian
 
whitewing's Avatar
 
Join Date: Oct 2012
Location: Bangalore
Posts: 469
Thanked: 1,246 Times
Re: The Credit Card Thread

Quote:
Originally Posted by vvijay View Post
I have a Citi Rewards credit card (which is terrible on rewards rate) and I wanted to cancel the card given the annual fees etc. No avail with a month's effort calling the customer care as they give a dumb issue of system error . Is there a way to do this ourselves through the Citi app or website or through email? If anyone has any experiences, please share.

Cheers,
Vijay
For all banking related communication, it is best to have a record. So, would suggest you document the request via e-mail. This will come in handy at the time of escalating the issue to the next level.
whitewing is offline  
Old 3rd December 2020, 10:56   #4055
Senior - BHPian
 
Join Date: Dec 2008
Location: Bangalore
Posts: 3,193
Thanked: 4,392 Times
Re: The Credit Card Thread

Quote:
Originally Posted by vvijay View Post
I wanted to cancel the card given the annual fees etc. [...] Is there a way to do this ourselves through the Citi app or website or through email?
With Citi:
  1. Write out a letter stating what you want clearly ("please cancel my credit card with number...").
  2. Include your contact details - phone and email.
  3. Sign it, date it, seal it in an envelope.
  4. Go to your nearest Citi ATM. The dropbox there has 3 slots - one of them is for correspondence (the other two are for deposits and CC payments). Drop your sealed envelope in the right slot.
The dropbox is cleared once each business day. Usually the letter is logged in Citi's system on the subsequent day. Basically you should get a notification of some type from Citi by D+2. It has entered their workflow and your work will be done as per their SLA.

Don't rely on call centres for this sort of stuff. Since Citi requires every piece of incoming mail to be logged they can't drop the ball if you do it this way.
binand is online now   (1) Thanks
Old 3rd December 2020, 11:15   #4056
BHPian
 
Join Date: Dec 2009
Location: Bengaluru
Posts: 513
Thanked: 777 Times
Re: The Credit Card Thread

Quote:
Originally Posted by binand View Post
With Cition't rely on call centres for this sort of stuff. Since Citi requires every piece of incoming mail to be logged they can't drop the ball if you do it this way.
Did this with my debit card. I mailed cut up pieces of my card to their HO in Chennai. It worked.
vinu_h is offline  
Old 3rd December 2020, 11:40   #4057
Senior - BHPian
 
Jaguar's Avatar
 
Join Date: May 2006
Location: Bangalore
Posts: 1,147
Thanked: 2,178 Times
Re: The Credit Card Thread

Quote:
Originally Posted by vinu_h View Post
Yet to receive the Std Chartered Ultimate card physically, but, online banking shows the limit to be abysmally low at INR 66k. Absolutely no connection to my credit rating or how much I make, even though I had submitted my latest pay slip.
Standard Chartered is very conservative in this regard and I gave up my Manhatten card after unsuccessfully trying to get the limit increased. I had got the card as a fresher and obviously, the limit was very low. A decade later, with my IT itself higher than my initial annual salary, and even having the salary account with them, they were not ready to increase the limit. My credit score was also good and I was holding other cards with over 10 times the limit and have a good payment record as well.
Jaguar is offline   (1) Thanks
Old 7th December 2020, 09:51   #4058
BHPian
 
Join Date: Dec 2009
Location: Bengaluru
Posts: 513
Thanked: 777 Times
Re: The Credit Card Thread

Quote:
Originally Posted by Jaguar View Post
Standard Chartered is very conservative in this regard and I gave up my Manhatten card after unsuccessfully trying to get the limit increased.
The Ultimate card comes with a subscription to 4 / 5 star restaurants, priority lounge access & Golf courses. Unless SC's objective is to make this people's preferred secondary/tertiary card, premium cards, especially the top end of SC, should have a minimum credit limit, much like the grades in the corp world that come with a salary range.
vinu_h is offline  
Old 7th December 2020, 12:22   #4059
BHPian
 
Join Date: Dec 2009
Location: Bengaluru
Posts: 513
Thanked: 777 Times
Re: The Credit Card Thread

Quote:
Originally Posted by KD007 View Post
My understanding Gpay doesn't cover all types of machines. Only the new ones are covered.

The older machines (mct or mst?? Dont remember but something magnetic) this only gets done by Spay.

I am sure somepoint Gpay will have this functionality too


Compares all 3. Samsung's is comprehensive and can do magnetic and contactless, whereas the other two support only the latter.
vinu_h is offline   (1) Thanks
Old 8th December 2020, 16:08   #4060
BHPian
 
na_agrawal's Avatar
 
Join Date: Jan 2020
Location: GAU/PNQ
Posts: 67
Thanked: 476 Times
Re: The Credit Card Thread

Hello BhPians -

I have a query regarding my long time credit card (CC) - HDFC Regalia Visa.

Please check the below snips and you'll understand the issue -

The Credit Card Thread-cc-2.png

Name:  CC 1.png
Views: 659
Size:  8.9 KB

These 2 are snips from my Credit card statement showing the Petrol bill amounts. They are 1537 & 3715 INR (as reflected in my statement).

Now below is the snapshot from my personal entry made into my Fuel tracking app. Obviously, there is a price difference in the statement as - "petro surcharge".

This petro surcharge is supposed to be refunded to me immediately by the bank, which is also shown in the statement snips. So the final amount comes out to be -

1537 + 3715 - 15 - 37 = 5200 INR (as per the CC statement)

1499 + 3672 = 5171 INR (as per the actuals)

The Credit Card Thread-screenshot_20201208155142_fuelio.jpg

So all in all, HDFC charged me a 29 INR extra for paying my fuel bills with CC?

God knows how much money I have paid till date in such EXTRAS
I have been using my CC for almost everything for the last 5-6 years.

Have you guys noticed something like this? Is it normal or I can confront the HDFC officials? Please any one of you with enough experience in this regard, can you arm me with the correct weapon against this?

-NA
na_agrawal is offline   (2) Thanks
Old 8th December 2020, 16:15   #4061
BHPian
 
Join Date: Mar 2018
Location: Thane - MH04
Posts: 543
Thanked: 2,068 Times
Re: The Credit Card Thread

Quote:
Originally Posted by na_agrawal View Post
Have you guys noticed something like this? Is it normal or I can confront the HDFC officials? Please any one of you with enough experience in this regard, can you arm me with the correct weapon against this?

-NA
Talk to HDFC for this. All CC companies charge extra for payment of fuel expenses and the charges vary from card to card / bank to bank. But they all sweeten it for you by either waving off the same as part of the deal that you have with them or not applying the same if you have a high value card with them. In my case ICICI charges me INR 10 + GST for every swipe at a Petrol Pump except when it is an ICICI machine that they use at the pump. In that case they reverse the charge after applying it.

Ask HDFC about what deal/TnC do you have with them.

I hate to pay by cash but many times I get forced to do so now as many pumps are now not taking CCs via ICICI machines and prefer either UPI or some other Bank CC machine.
sunilch is offline   (2) Thanks
Old 8th December 2020, 16:17   #4062
BHPian
 
Join Date: Feb 2020
Location: Bangalore
Posts: 71
Thanked: 343 Times
Re: The Credit Card Thread

Essentially they are charging 1% petro surcharge + 18% GST on this surcharge, but refunding only the surcharge part and not the GST.

That's not how it looks on my card statement, there is no GST and entire amount is refunded for me.

I am holding Infinia.

Though I am guessing that it could be that difference is on POS machine used. I am swiping at HDFC POS. Not sure if that is what is making a difference here.

Last edited by rjainv : 8th December 2020 at 16:21.
rjainv is online now   (2) Thanks
Old 8th December 2020, 20:39   #4063
Senior - BHPian
 
Join Date: Nov 2009
Location: Bangalore
Posts: 1,400
Thanked: 1,916 Times
Re: The Credit Card Thread



I have never realized this excess charging by the card companies.

On my HDFC Regalia First card -
On 19/11/2020 I was billed Rs. 3058.77 at Shell Bunk (SAI fuel station) but my statement shows Rs. 3149.00 minus Rs. 31.18 surcharge reversed.
On 3/12/2020 I was billed Rs. 2543.81 at IOC (Manjunatha Service) but my statement shows Rs. 2573.83 minus Rs. 25.48 surcharge reversed

On My StanChart Digismart card-
On 15/11/2020 I was billed Rs. 1000 at BP (Jalahalli Service Station) but my statement shows Rs. 1010.00 no surcharge reversed.
On 5/12/2020 I was billed Rs. 992.50 at BP (Suraksha fuel) but my statement shows Rs. 1002.43 no surcharge reversed

I guess this is why it takes 3 days for the billed details to select on the statement. Other expenses don't seem to have this added charges on them. Do the excess charges go to the bank/ petrol station/ govt?

My observation from this minimal data is that Shell charged Rs. 100/- extra of which Rs. 31 was reversed. IOC charged Rs. 30 extra of which Rs. 25 was reversed. SC seems to charge a uniform Rs. 10/-

But what I am appalled by is the brazen way in which the billed amount and the amount is the statement are manipulated. If I get an SMS saying X amount has been spent, Why would I assume that X+a would be charged to me, in addition to yearly charges, interest, card charges, and what else.

Is this practice even legal and can something be done to stop this?
wildsdi5530 is offline   (3) Thanks
Old 8th December 2020, 21:52   #4064
Distinguished - BHPian
 
Join Date: Sep 2008
Location: --
Posts: 3,438
Thanked: 6,692 Times
Re: The Credit Card Thread

Quote:
Originally Posted by wildsdi5530 View Post
On my HDFC Regalia First card -
On 19/11/2020 I was billed Rs. 3058.77 at Shell Bunk (SAI fuel station) but my statement shows Rs. 3149.00 minus Rs. 31.18 surcharge reversed.
On 3/12/2020 I was billed Rs. 2543.81 at IOC (Manjunatha Service) but my statement shows Rs. 2573.83 minus Rs. 25.48 surcharge reversed
Not sure but sounds a lot like this post from 2014. Maybe write to the bank to clarify if this "extra" charge is indeed GST on the surcharge amount?

Quote:
Originally Posted by manduvindupondu View Post
Credit card companies are not refunding the 12.36% Service tax charged on 2.5% Fuel surcharge. I dont understand it. When the fuel surcharge itself is waived, how can they retain with them the 12.36% service tax?
I am sure they wont pay it to the central government. 0*12.36% = 0 is my line of contention.

Successfully followed up with HDFC bank and got the service tax refunded. Now its the turn with Axis bank and Indusind.
What is the official line? Can someone please confirm? I noticed that irctc also does not refund the service tax when we cancel a train ticket. Can we file a RTI or a PIL?

Comments are welcome.
Dry Ice is offline   (1) Thanks
Old 8th December 2020, 23:07   #4065
BHPian
 
logicalidiot's Avatar
 
Join Date: May 2020
Location: Kannur/B'lore
Posts: 121
Thanked: 491 Times
Re: The Credit Card Thread

The fuel surcharge waived or refunded is capped differently depending on the banks. I don't remember how much I was being charged on my HDFC CC but I do remember that I was not getting the complete fuel surcharge waived or refunded. I avoided using this card when I found that out.

Once I got my Amazon ICICI card, I remember I used to get charged flat 1% fuel surcharge on the card and the card offered fuel surcharge waive. The loophole was that I used to get a minimum reversal of ₹10. So if I fill in petrol for a mere ₹200 (on two-wheeler, please don't judge me ), I get charged ₹200 + 1% surcharge = ₹202 on the card but I get a reversal of ₹10 every time. Not sure if they fixed this, it did work till March. I've not used my bike post the lockdown started.

Quote:
Originally Posted by na_agrawal View Post
1537 + 3715 - 15 - 37 = 5200 INR (as per the CC statement)

1499 + 3672 = 5171 INR (as per the actuals)
Thanks for bringing this to the attention, I checked my current statement for Amazon ICICI and found that there is an 18% extra (assuming it to be tax) charged on the 1% fuel surcharge.

For example, you filled in for ₹3672 + 36.72 (1% of actual) + 6.60 (18% of fuel surcharge) = ₹3715, out of which only the fuel surcharge is being refunded.

I'm sure that up until March, there was no additional tax of 18% being charged and this is something new .

Quote:
Originally Posted by rjainv View Post
Though I am guessing that it could be that difference is on POS machine used. I am swiping at HDFC POS. Not sure if that is what is making a difference here.
Shouldn't the GST amount be going to the govt. If you're indeed being charged 1% surcharge + 18% GST, then I don't think the banks would reverse the GST. It would mean that the bank is paying the GST for us, which is unlikely.

Last edited by logicalidiot : 8th December 2020 at 23:07. Reason: Unnecessary spaces
logicalidiot is offline   (1) Thanks
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright 2000 - 2023, Team-BHP.com
Proudly powered by E2E Networks