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Old 4th February 2021, 14:54   #4141
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Default Re: The Credit Card Thread

I need a clarification.
My CC bill dated 15 January has 2000 rupees as bill amount. Today 4th Feb is bill payment last date.

Meanwhile I received a refund of Rs 2000 on 30 Jan from a purchase that was returned. Now my current outstanding is 0.

Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment?
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Old 4th February 2021, 14:56   #4142
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Default Re: The Credit Card Thread

Quote:
Originally Posted by fordday View Post
I need a clarification.
My CC bill dated 15 January has 2000 rupees as bill amount. Today 4th Feb is bill payment last date.

Meanwhile I received a refund of Rs 2000 on 30 Jan from a purchase that was returned. Now my current outstanding is 0.

Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment?
Hi,

Since your refund has come in the next billing cycle, you need to clear the outstanding 2000/-. The refund amount will then remain sitting in your credit card and be used for expenses in the future to be balanced against.
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Old 4th February 2021, 15:02   #4143
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Default Re: The Credit Card Thread

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Originally Posted by fordday View Post
Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment?
You have to pay as per the statement's outstanding, not as per current outstanding.
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Old 4th February 2021, 15:50   #4144
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Default Re: The Credit Card Thread

Quote:
Originally Posted by fordday View Post
I need a clarification.
My CC bill dated 15 January has 2000 rupees as bill amount. Today 4th Feb is bill payment last date.

Meanwhile I received a refund of Rs 2000 on 30 Jan from a purchase that was returned. Now my current outstanding is 0.

Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment?
Depends on the card.
1. With AMEX it is adjusted on the fly. So your outstanding would be zero when you check on line.
2. With HDFC it is never adjusted, so you have to pay.
3. With other cards it depends.

The best bet is to check on line ans see what your outstanding is.
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Old 4th February 2021, 17:16   #4145
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Default Re: The Credit Card Thread

Quote:
Originally Posted by fordday View Post
I need a clarification.
My CC bill dated 15 January has 2000 rupees as bill amount. Today 4th Feb is bill payment last date.

Meanwhile I received a refund of Rs 2000 on 30 Jan from a purchase that was returned. Now my current outstanding is 0.

Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment?
The rules may be different for different banks.

But I strongly suggest that you pay at least the minimum due amount. Since the total bill amount is also not much, its better to make the full payment and be tension free.

The refund amount would be adjusted against next month's purchases. Though you may still have to pay the minimum amount due again next month. (Read next month's statement carefully)

Rohan
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Old 5th February 2021, 01:12   #4146
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Default Re: The Credit Card Thread

Quote:
Originally Posted by fordday View Post
Do I need to pay this 15 Jan bill amount or the refund will be taken as my bill payment.
My friend, the safest and best approach would be to call your banks customer care number and follow what they say so you donít have to pay any charges for late payment or non payment.

Since normally all calls are recorded, make sure you make a note of the call centre persons name, and the date/time of your call. This will help if you need evidence of your conversation with them.

Cheers
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Old 5th February 2021, 08:26   #4147
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Default Re: The Credit Card Thread

as long as your current outstanding is 0, it means your dues are cleared. Who made the payment does not matter.
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Old 5th February 2021, 10:23   #4148
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Default Re: The Credit Card Thread

I have been using the icici ferrari cc for sometime now, and it's expiring in March. I got a notification from ICIC saying that they are issuing an Accelero card in lieu of the ferrari card.

But am unable to find the details of that card on their site.

Any clue?
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Old 5th February 2021, 10:34   #4149
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Default Re: The Credit Card Thread

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Originally Posted by deathwalkr View Post
I have been using the icici ferrari cc for sometime now, and it's expiring in March. I got a notification from ICIC saying that they are issuing an Accelero card in lieu of the ferrari card.

But am unable to find the details of that card on their site.

Any clue?
I had a Ferrari card but from my experience it has little to no benefits. Instead I got an Amazon Pay ICICI card issued. You can do this online by logging into Amazon & ICICI and it taps into your approved credit limit for the existing card. The Amazon Pay card has many benefits if you are a regular shopper and Prime member. Eventually I cancelled the Ferrari card and now only retain the Amazon Pay card. Would suggest you do the same.
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Old 5th February 2021, 10:36   #4150
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Default Re: The Credit Card Thread

Thanks Noopster. Was thinking of doing the same as well. Had got the ferrari on impulse and just stuck with it.

The AP card looks good considering how much i spend in Amazon
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Old 5th February 2021, 10:51   #4151
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Originally Posted by indian21r View Post
as long as your current outstanding is 0, it means your dues are cleared. Who made the payment does not matter.
I too thought so. But as a caution I paid the bill amount. Next time need to get it confirmed from the bank.
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Old 5th February 2021, 11:12   #4152
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Default Re: The Credit Card Thread

Quote:
Originally Posted by indian21r View Post
as long as your current outstanding is 0, it means your dues are cleared. Who made the payment does not matter.
Not true for all cards, best to read T&C. Some banks specify 'refunds & credits' received after statement generation get counted for the next statement cycle, not against current cycle dues.

Quote:
Originally Posted by fordday View Post
I too thought so. But as a caution I paid the bill amount. Next time need to get it confirmed from the bank.
You did right. Not worth defaulting on due date for a relatively small amount. It will get added to your credit limit in any case, so you lose nothing. Talk to your bank for future reference if they count refunds and credits towards payment of amount due.

Last edited by Chetan_Rao : 5th February 2021 at 11:13.
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Old 5th February 2021, 23:51   #4153
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Default Re: The Credit Card Thread

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Originally Posted by Aroy View Post
Depends on the card.
2. With HDFC it is never adjusted, so you have to pay.
It is adjusted in case of HDFC too. I have autopay setup for my HDFC CC from my HDFC savings account. On one month when there was a refund to the card account, and the amount was greater than the previous month balance, the autopay did not kick in. I was not charged for non-payment as well.
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Old 6th February 2021, 08:25   #4154
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Default Re: The Credit Card Thread

Quote:
Originally Posted by deathwalkr View Post
issuing an Accelero card
But am unable to find the details of that card on their site.
If you are still interested in the Accelero Card

Website link: https://www.icicibank.com/Personal-B...elero-textlink

Quote:
Originally Posted by noopster View Post
only retain the Amazon Pay card. Would suggest you do the same.
Quote:
Originally Posted by deathwalkr View Post
The AP card looks good considering how much I spend in Amazon
As member Noopster has suggested, if you are a prime member & making a lot of Amazon purchases and already have existing relationship with ICICI, go for the Amazon Pay ICICI Credit card. End of your billing cycle, all cashbacks accrued during that cycle are automatically refunded into your Amazon Pay account & not your bank. That is one of the best features - no hassles of points and how to redeem them.
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Old 7th February 2021, 23:05   #4155
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Default Re: The Credit Card Thread

Quote:
Originally Posted by Chetan_Rao View Post
Not true for all cards, best to read T&C.

Talk to your bank for future reference if they count refunds and credits towards payment of amount due.

It was SBI Credit Card. They replied to my query as below.

Quote:
We request you to kindly make a payment as per the statement generated to avoid any charges, as the refunded amount will not be consider as a payment, any excess payment would be adjusted towards fresh transaction.
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