Team-BHP > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 15th January 2021, 16:46   #4126
BHPian
 
Join Date: Nov 2013
Location: Bir-Billing, HP
Posts: 469
Thanked: 869 Times
Default

I don't understand the hypocrisy when some of you say that fuel surcharge is acceptable and same is not acceptable if another merchant applies the same.
You guys do realize it is the same thing in both instances, i.e the merchant is not willing to pay the bank/PoS company's fees from his margin.
It's very simple concept. If someone has a high enough margin, they will be willing to take the hit and pay the bank fees from their end. But anyone who has very little margin won't. I used to sell mobile phones through eBay as well as through other sources. Anyone who bought from me was told that if they are buying through eBay, the eBay commission would be added to the cost they have to pay. I prefer this transparency instead of the charges being bundled with the initial cost as that means people not even opting for that option will still have to pay the charges.

Last edited by rdst_1 : 15th January 2021 at 16:47.
rdst_1 is offline   (2) Thanks
Old 17th January 2021, 13:15   #4127
BHPian
 
warrioraks's Avatar
 
Join Date: Jan 2020
Location: Delhi
Posts: 400
Thanked: 2,641 Times
Default Re: The Credit Card Thread

Not sure if it is only me but the RBI ban on Hdfc bank for new digital launches is leading to much needed improvement in their services. They have brought in some transparency on reward point credits and the smartbuy website is also more user friendly and informative with respect to offers they are running.

Although I hear it’s still not on par with other banks but it’s better than before where it was all a guessing game on my DCB card due to the opaque processes of the HDFC bank.

Last edited by warrioraks : 17th January 2021 at 13:16.
warrioraks is offline   (1) Thanks
Old 17th January 2021, 20:35   #4128
Newbie
 
Join Date: Jul 2019
Location: NCR
Posts: 16
Thanked: 36 Times
Default Re: The Credit Card Thread

Not sure about the services of HDFC, but they have certainly rolled out credit limit enhancement or credit card upgrade for many customers.

I got credit card upgrade but they havenít dispatched the new one yet.
Dsan is offline   (1) Thanks
Old 18th January 2021, 10:52   #4129
BHPian
 
mav2000's Avatar
 
Join Date: Jan 2008
Location: Bangalore
Posts: 595
Thanked: 282 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by warrioraks View Post
Not sure if it is only me but the RBI ban on Hdfc bank for new digital launches is leading to much needed improvement in their services. They have brought in some transparency on reward point credits and the smartbuy website is also more user friendly and informative with respect to offers they are running.

Although I hear itís still not on par with other banks but itís better than before where it was all a guessing game on my DCB card due to the opaque processes of the HDFC bank.
Can I ask where you are seeing the reward points transparency improvement?
mav2000 is offline  
Old 18th January 2021, 11:11   #4130
BHPian
 
warrioraks's Avatar
 
Join Date: Jan 2020
Location: Delhi
Posts: 400
Thanked: 2,641 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by mav2000 View Post
Can I ask where you are seeing the reward points transparency improvement?
The image below is from Smartbuy Gyftr page. A very recent development where you can choose your card and it will upfront tell you how many points can be earned.
I have also started receiving monthly sms confirming how many points were credited for what period and any special credit in case of an offer availed.
Attached Thumbnails
The Credit Card Thread-capture.png  


Last edited by warrioraks : 18th January 2021 at 11:17.
warrioraks is offline   (1) Thanks
Old 20th January 2021, 18:11   #4131
BHPian
 
fast&curious's Avatar
 
Join Date: Dec 2020
Location: Gurugram
Posts: 70
Thanked: 172 Times
Default Re: The Credit Card Thread

Hi guys, have ay of the HDFC Infinia card holders here ever used the Golf benefit? I've been thinking of using it for the past few months but, the pandemic of course didn't allow me to do that. I'm a complete newbie when it comes to Golf, so I'm looking to use the unlimited lessons benefit of the card. I'd love it if you guys could help me with some of my queries regarding the benefit

1. How many days in advance do we have to book the Golf Lessons with the club?
2. Will I need to buy my own equipment or will it be provided by the club? I'm fine even if they provide it on rent for the lessons I take with them.
3. How many free sessions a month can one take?
fast&curious is offline  
Old 20th January 2021, 18:26   #4132
Distinguished - BHPian
 
ninjatalli's Avatar
 
Join Date: Jul 2011
Location: Bangalore
Posts: 2,904
Thanked: 8,361 Times
Default Re: The Credit Card Thread

I got a very weird situation - I had a HDFC corporate card from my previous firm - the firm gets these card for every employee which is linked with the employee's credit rather than the firm's credit. So basically the card was in my name and linked to my credit score/history.

The card was active and being used for another 8 months post leaving the firm and I had some additional 13k+ funds (-ve credit card balance) in it. Had planned on using the funds for flights primarily but the pandemic kinda changed that and sometime mid of last year HDFC closed the account and made the payout to some savings account (not mine).

Currently I'm following up with corporate card team of HDFC via mail (the customer care phone team do not handle corporate card cases) but I'm not sure how and where this will go. They have reverted back saying the funds have been deposited in so and so account and left at it.

Anyone faced such a situation?
ninjatalli is offline  
Old 21st January 2021, 10:56   #4133
Senior - BHPian
 
Join Date: Jun 2007
Location: Kochi
Posts: 2,438
Thanked: 496 Times
Default

Quote:
Originally Posted by ninjatalli View Post
... but the pandemic kinda changed that and sometime mid of last year HDFC closed the account and made the payout to some savings account (not mine).

Currently I'm following up with corporate card team of HDFC via mail (the customer care phone team do not handle corporate card cases) but I'm not sure how and where this will go. They have reverted back saying the funds have been deposited in so and so account and left at it.

Anyone faced such a situation?
If your money has been paid to somebody else, options in order of practicality are -
1. Banking ombudsman.
2. Consumer court
3. Civil suit
BaCkSeAtDrIVeR is offline   (1) Thanks
Old 21st January 2021, 21:52   #4134
Distinguished - BHPian
 
ninjatalli's Avatar
 
Join Date: Jul 2011
Location: Bangalore
Posts: 2,904
Thanked: 8,361 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
If your money has been paid to somebody else, options in order of practicality are -
1. Banking ombudsman.
2. Consumer court
3. Civil suit
Pleasantly surprised with HDFC corporate account support team - they dug in and figured out the fund was debited as a part of a bulk load for a list of corporate accounts of my previous firm and reached out to the right person (corporate relationship manager) for resolution keeping me in loop.

Long story shot - the money is being transferred to my account. All within a day's duration of reaching out to the HDFC support team
ninjatalli is offline   (4) Thanks
Old 27th January 2021, 03:19   #4135
BHPian
 
Join Date: May 2010
Location: Hyderabad
Posts: 98
Thanked: 34 Times
Default Re: The Credit Card Thread

What's your thoughts on IDFC First Credit Cards. Their cash withdrawal is just 295 rs, and no interest charges .
manduvindupondu is offline  
Old 2nd February 2021, 23:13   #4136
Senior - BHPian
 
Join Date: Jul 2006
Location: Bombay
Posts: 1,324
Thanked: 1,735 Times
Default Re: The Credit Card Thread

HDFC levied annual fees on a supposed lifetime free card in my Dec statement. I spotted it and asked them to reverse it since it was supposed to be a lifetime free card. They argued that it wasn't a lifetime free card, but was supposed to be free if I met some expense threshold. Obviously due to Covid and the WFH, my expenses have dropped.

After a short discussion, they agreed to reverse the annual charges. But they refuse to reverse the GST charges. I asked them how are they going to deposit GST when there is no underlying invoice. They have no answer. I also told them that since the annual fee is for this year, I am willing to cancel the card, but unwilling to pay the fee and GST.

They're willing to cancel the card, but only after my payment of the GST amount. Seems weird to pay GST for an invoice that is cancelled (for an amount that was wrongfully charged in the first place.)

I don't care about the amount, but it appears to me that principally HDFC bank is on shaky grounds here. Can anyone advise if its legal to levy GST when there is no valid invoice or service charge any longer?

Last edited by Lalvaz : 2nd February 2021 at 23:14.
Lalvaz is offline   (1) Thanks
Old 2nd February 2021, 23:29   #4137
Senior - BHPian
 
Warwithwheels's Avatar
 
Join Date: Aug 2009
Location: India
Posts: 1,347
Thanked: 1,736 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Lalvaz View Post
Can anyone advise if its legal to levy GST when there is no valid invoice or service charge any longer?
Typically Banks discharge the GST liability in the subsequent month or as soon as they raise the invoice for the service.

When the invoice gets cancelled, the reversal and refund/ adjustment of GST is a long process, which banks generally don't take up unless the amount involved is substantial.

Hence they are trying to recover the GST that they have paid assuming that you will pay up the invoice.

Pretty much the norm I would say. However, legally you are not required to pay.
Warwithwheels is offline   (2) Thanks
Old 3rd February 2021, 09:39   #4138
Senior - BHPian
 
mukeshgoel's Avatar
 
Join Date: Sep 2008
Location: Gurgaon
Posts: 1,128
Thanked: 1,706 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Warwithwheels View Post
Typically Banks discharge the GST liability in the subsequent month or as soon as they raise the invoice for the service.
Normally banks do that but some banks like HDFC Bank does not return GST most of the times.

If they charged Rs.500 as GST and don't refund after reversal of bank charges, they internally put Rs.423.73 as bank charges and pay Rs.76.27 (18% GST) to the government.

Now multiply this by lakhs of such entries every year.
mukeshgoel is offline  
Old 3rd February 2021, 11:57   #4139
BHPian
 
Join Date: Dec 2018
Location: Pune
Posts: 489
Thanked: 897 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by fast&curious View Post
Hi guys, have ay of the HDFC Infinia card holders here ever used the Golf benefit? I've been thinking of using it for the past few months but, the pandemic of course didn't allow me to do that. I'm a complete newbie when it comes to Golf, so I'm looking to use the unlimited lessons benefit of the card. I'd love it if you guys could help me with some of my queries regarding the benefit

1. How many days in advance do we have to book the Golf Lessons with the club?
2. Will I need to buy my own equipment or will it be provided by the club? I'm fine even if they provide it on rent for the lessons I take with them.
3. How many free sessions a month can one take?
Call up the concierge helpline for details. I had called for my diners black. They asked me to book about a week in advance. I think it would depend on the club.
pseudo_coder is offline  
Old 3rd February 2021, 13:50   #4140
Senior - BHPian
 
Join Date: Dec 2008
Location: Bangalore
Posts: 2,840
Thanked: 3,179 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Lalvaz View Post
But they refuse to reverse the GST charges. I asked them how are they going to deposit GST when there is no underlying invoice.
Don't know how HDFC does it; but for Citibank the monthly credit card statement is also the GST invoice for whatever taxable services they have provided to me (usually foreign currency transactions in my case).
binand is offline  
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright ©2000 - 2022, Team-BHP.com
Proudly powered by E2E Networks