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Old 6th January 2021, 02:03   #4096
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It is my understanding that it is a safe practice to not store your card number on any portal. The credentials are stored on a server which always carries a risk of breach irrespective of the vendor's reputation.

Not only this, there are 3 or more guidelines I religiously follow for online transactions -

1. Never store credentials/passwords in Browsers

2. Always go for 2-factor authentication wherever possible.

3. Use virtual cards like PayzApp, etc. wherever feasible to mask original card number. Load these virtual cards with only the required amount for your transaction.

4. Use only those cards for online & PoS transactions whose per transaction limit can be changed on the fly. Yes, it involves a little bit of inconvenience, and may also result in few failed transactions because one forgot to change the limit before swiping, however, it will surely shield you from some major headaches in the long run.

5. Beware of phishing emails - Amazon, Netflix, PayPal - most will threaten you about unauthorized access / reentering payment information to continue one's account with them, etc., inducing panic among customers and making them part with their financial data.

Point - 4 will ensure minimum damage IMHO.

Last edited by Safety is Param : 6th January 2021 at 02:05.
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Old 6th January 2021, 09:51   #4097
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Re: The Credit Card Thread

Quote:
Originally Posted by Safety is Param View Post
It is my understanding that it is a safe practice to not store your card number on any portal. The credentials are stored on a server which always carries a risk of breach irrespective of the vendor's reputation.
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2. Always go for 2-factor authentication wherever possible.

3. Use virtual cards like PayzApp, etc. wherever feasible to mask original card number. Load these virtual cards with only the required amount for your transaction.

How to deal with companies like Netflix? They require registration of cards (including CVV) enabled for international recurring transactions! I usually enable international transactions only for actual trips abroad, and keep it disabled otherwise. It would be rather cumbersome to remember to disable international transactions right after payment has cleared every month, then re-enable it just before the next instalment is due, ... and keep repeating it month after month!

There is no 2-factor authentication for recurring international transactions. Virtual cards like PayZapp can't be used either (not valid for international transactions). On top of that, even if the Netflix account is closed, they'll still have the card information stored in their systems for at least 10 more months (as per their CC) in the hope that you might come back!
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Last edited by meerkat : 6th January 2021 at 10:07.
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Old 6th January 2021, 10:54   #4098
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Re: The Credit Card Thread

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Originally Posted by meerkat View Post
How to deal with companies like Netflix? They require registration of cards (including CVV) enabled for international recurring transactions!
Pay for Netflix through Airtel, VI, or ACT account.
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Old 6th January 2021, 11:06   #4099
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Re: The Credit Card Thread

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Originally Posted by meerkat View Post
How to deal with companies like Netflix? They require registration of cards (including CVV) enabled for international recurring transactions!
I have a credit card dedicated for this and limit is set to INR 5000 .
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Old 6th January 2021, 11:11   #4100
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Quote:
Originally Posted by meerkat View Post
How to deal with companies like Netflix? They require registration of cards (including CVV) enabled for international recurring transactions!
In this case, I would keep International transactions enabled on the card used to pay Netflix, with the following riders -

1. PoS transactions and ATM withdrawals should be in disabled state. Enable these, and set limits only during international trips.

2. Online transactions can be left enabled upto max INR 1000/-. Set this limit to per day instead of per transaction so that the chances of viewing the transaction sms/email are high. This is because international transactions do not warrant an OTP, and setting a per transaction limit may result in failing to recognize multiple fraudulent transactions in an event when you are not watching your sms/emails (driving, in a meeting, resting, etc.)
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Old 6th January 2021, 14:13   #4101
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Re: The Credit Card Thread

Hi folks,

I'm using HDFC Regalia card and have accrued considerable points. What will be the best option out of the two:
1. Get the points cashed and credit the value to my account.
2. Buy vouchers.

Thanks.
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Old 6th January 2021, 15:01   #4102
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Re: The Credit Card Thread

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Originally Posted by metropolis View Post
Hi folks,

I'm using HDFC Regalia card and have accrued considerable points. What will be the best option out of the two:
1. Get the points cashed and credit the value to my account.
2. Buy vouchers.

Thanks.
Cash conversion is always less compared to Vouchers. I went for vouchers (Flipkart) and use that for buying some household items during the recent sale.
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Old 6th January 2021, 16:10   #4103
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Re: The Credit Card Thread

Quote:
Originally Posted by metropolis View Post
Hi folks,

I'm using HDFC Regalia card and have accrued considerable points. What will be the best option out of the two:
1. Get the points cashed and credit the value to my account.
2. Buy vouchers.

Thanks.
You might get best value if you book flights or hotels on smartbuy site.
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Old 6th January 2021, 19:58   #4104
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Re: The Credit Card Thread

I am getting offer from ICICI to take icici sapphiro amex credit card
There is no joining fee and no annual fee.

facilities offered is given in this link
https://www.icicibank.com/Personal-B...rivileges.page

Could anyone let me know the reviews for this.
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Old 6th January 2021, 20:28   #4105
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Re: The Credit Card Thread

I got this Saphiro Amex card got just 3 weeks back. I could see that the facilities are good and it has no fees and that’s the reason I went for it.

I’m yet to use it though. The card is active and the whole process from ICICI was smooth in getting the card delivered to me.
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Old 7th January 2021, 00:20   #4106
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Re: The Credit Card Thread

Quote:
Originally Posted by jkrishnakj View Post
I got this Saphiro Amex card got just 3 weeks back. I could see that the facilities are good and it has no fees and thatís the reason I went for it.

Iím yet to use it though. The card is active and the whole process from ICICI was smooth in getting the card delivered to me.
I checked the same Sapphiro Amex card application online and the fees are too high

Joining Fee: 6500 + GST Annual Fee: 3500 + GST
How come you don't have any fees.
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Old 7th January 2021, 07:14   #4107
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Re: The Credit Card Thread

Not sure Rajesh. Maybe because my wife and I hold savings accounts and deposits with the bank. Let me re-read their emails to see if they inserted some clause around fees somewhere.
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Old 7th January 2021, 07:15   #4108
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Re: The Credit Card Thread

Quote:
Originally Posted by UPS_Guru View Post
Pay for Netflix through Airtel, VI, or ACT account.
Unfortunately I don't have either. In any case it probably requires subscription to one of their packages that includes Netflix, doesn't it?


Quote:
Originally Posted by vinu_h View Post
I have a credit card dedicated for this and limit is set to INR 5000 .
Quote:
Originally Posted by Safety is Param View Post
In this case, I would keep International transactions enabled on the card used to pay Netflix, with the following riders -

1. PoS transactions and ATM withdrawals should be in disabled state. Enable these, and set limits only during international trips.

2. Online transactions can be left enabled upto max INR 1000/-. Set this limit to per day instead of per transaction so that the chances of viewing the transaction sms/email are high.

Thanks. This is kind of what I'm doing currently, except that I don't have a card dedicated to the purpose. I don't usually register my physical cards online. It's Netflix alone that forces my hand!

What I feel uncomfortable about, is the perennial storage of my card particulars online, -- it leaves it open to a breach anytime, and keeping a small limit doesn't work for extended foreign trips. I wonder what prevents other countries from implementing a 2-step authentication process!
.

Last edited by meerkat : 7th January 2021 at 07:21.
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Old 7th January 2021, 08:05   #4109
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Re: The Credit Card Thread

Quote:
Originally Posted by redcruiser View Post
I am getting offer from ICICI to take icici sapphiro amex credit card
There is no joining fee and no annual fee.

facilities offered is given in this link
https://www.icicibank.com/Personal-B...rivileges.page

Could anyone let me know the reviews for this.
If it is a free card, you can take it.
This is a dual variant card where you get Amex and MasterCard sharing the credit limit.
Key features is:
1) Domestic lounge access (via Amex and MasterCard)
2) Dragon Pass lounge access and Spa
3) BookMyShow offer of 1+1 (3 times in a month)

I love this card for the above reasons.
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Old 7th January 2021, 11:00   #4110
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Re: Major Credit card data breach

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Originally Posted by logicalidiot View Post
On another note, if we don't select the option to save the credit/debit cards as payment option for future purchases, does it help against these breaches?
For a credit card charge authorisation to succeed, three numbers have to match exactly (card number, expiry date, CVV). So for misuse, all three numbers have to be stolen. Most websites that ask you to store, don't actually store the CVV (they have to go through a much more cumbersome compliance loop to be permitted to do that; and for them also the risks are far higher).

For Indian cards being used with Indian merchants, a fourth number - the OTP - also needs to match.

So to answer your question - it is a matter of your personal risk-reward equation. I have my card details stored with Netflix, Amazon & Google because the convenience of having it stored with these three outweigh the risks for me. But not with anyone else.
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