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Old 8th February 2021, 00:07   #4156
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Re: The Credit Card Thread

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Originally Posted by fordday View Post
It was SBI Credit Card. They replied to my query as below.
Incidentally, I just had a similar refund transaction, and my card issuer says the same.

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We have received merchant credit refund on your ICICI Bank Credit Card xxxx for INR xxxx on February 05, 2021 from xxxx.

We wish to inform you that this refund will not be considered as payment. Hence, we request you to pay the Minimum Amount Due by the due date.
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Old 8th February 2021, 02:49   #4157
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Re: The Credit Card Thread

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Originally Posted by Chetan_Rao View Post
Incidentally, I just had a similar refund transaction, and my card issuer says the same.
Isn't it always the case.. at least with Citi and ICICI ones. You always have to make minimum payment even if there is a refund. Only now they're explicitly mentioning it.

Usually we won't notice as there'll be multiple purchases and we make regular payments (partial/full).
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Old 8th February 2021, 09:51   #4158
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Re: The Credit Card Thread

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Originally Posted by somspaple View Post
Isn't it always the case.. at least with Citi and ICICI ones.
The rule is that the card account needs SUM(payment transactions before the due date) >= minimum due amount, for it to be in good standing.

All payment transactions are considered credit transactions into the card account.

Similarly all refunds are also considered as credit transactions into the card account.

But that does not make refunds = payment transactions.
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Old 8th February 2021, 11:59   #4159
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Re: The Credit Card Thread

You can avoid paying only if your minimum due amount is 0. If there is a refund after the statement is generated, you'll still have to pay the minimum due amount as that transaction will only reflect in the next statement.
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Old 8th February 2021, 15:24   #4160
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Re: The Credit Card Thread

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Originally Posted by UPS_Guru View Post
You can avoid paying only if your minimum due amount is 0. If there is a refund after the statement is generated, you'll still have to pay the minimum due amount as that transaction will only reflect in the next statement.
So any EMIs being charged to the card will always have to be paid manually regardless of the amount of refunded (credit) transactions? This is news to me - I'd better keep a close eye on any card which currently has a EMI payment on it.
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Old 8th February 2021, 17:50   #4161
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Re: The Credit Card Thread

Hi all,
Need some guidance please.
I am being offered an upgrade on the existing HDFC card. Current is Regalia First and the one being offered without any AMC is Visa Millenia Card Intl.
Will it be beneficial? I am looking for an upgrade of the card, not sure if i should continue with HDFC or take some other card?

My broad expenses are in following categories:
- Groceries
- Online shopping (mostly Amazon)
- Offline shopping (F&B, Miscellaneous Retail stores)

Thanks in advance,
Abhinav
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Old 9th February 2021, 10:00   #4162
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Re: The Credit Card Thread

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Originally Posted by itwasntme View Post
So any EMIs being charged to the card will always have to be paid manually regardless of the amount of refunded (credit) transactions? This is news to me - I'd better keep a close eye on any card which currently has a EMI payment on it.
Let me make myself clear. You should always at least pay your minimum due amount unless it is zero.

The minimum due amount is zero (therefore, no payment is required) in two cases:
  1. Payment holiday in the current statement period.
  2. Total credits (refunds) is more than or equal to total debits (purchases including EMI and other charges) in the current statement period.

If the credits (refunds) happen on the day of the statement or later, they will not be part of the current statement period (therefore, payment is required).

Some cards may not adjust credits against EMI automatically. In such cases, you should contact the card issuer and correct the anomaly.
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Old 10th February 2021, 00:26   #4163
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Re: The Credit Card Thread

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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.

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.
HDFC Bank has reverted that they will reverse the GST charges as well. I really wonder how much they collect in these illegal taxes, just because no one notices it, or lets it go unchallenged since its a small amount.
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Old 10th February 2021, 09:41   #4164
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Re: The Credit Card Thread

Has anybody been using the HDFC Indigo Ka-ching credit card? I got a call yesterday to upgrade the existing HDFC Freedom (entry-level) credit card to Indigo one. A quick search showed me that you get 2.5% reward on Indigo, 2% on grocery/dining/entertainment and 1% on all other spends. Each reward point is given in the form of Indigo 6E Rewards where 1 point = 1 INR. It was a free complimentary upgrade without any restrictions and since my current HDFC Freedom card had conventional reward point system, did not think much before going ahead.

However, I'm curious to know what are the uses of Indigo 6E Reward points. I understand it can be used on Indigo flight bookings but is there any other redemption offers.
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Old 10th February 2021, 12:45   #4165
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Re: The Credit Card Thread

Note - Reposting on this thread

Seeking suggestions for Business Class hacking with Credit Card points

I have long dreamt of flying Business Class. Sadly, my employer wouldn't pay for the seat and I could never muster the resolve on all previous domestic/short international flights.

Now an opportunity presents itself. A 2-week trip to Europe for Christmas 2021. My first visit to the continent.

Here's my conundrum. After Jet Airway's closure, I am unable to find a suitable Airline co-branded credit card to rack up enough miles for getting an upgrade voucher (or an award ticket).

I hardly travel on work and don't have any planned flights this year. My credit card expenses add up to Rs. 1.3 Lakhs/month with about Rs. 60,000 for utilities and the rest on dining, shopping and leisure.

I considered the Axis Bank Vistara cards, which are great for domestic upgrades/awards but not for international routes. I'm avoiding the SBI-Air India cards as Air India would be my last choice of transport.

Other co-branded cards such as Axis Bank Miles & More, Standard Chartered Emirates, ICICI Bank British Airways and travel-focused cards such as the Citibank Premier-miles & Citibank Prestige (which comes with a Rs. 20,000 + tax fee) don't seem to offer a conversion ratio that would get me enough miles for an upgrade voucher with my spending capacity.

Shall be grateful for your valuable suggestions.
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Old 13th February 2021, 14:54   #4166
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Re: The Credit Card Thread

I would advise you to go for HDFC Infinia if you can get it, or Diners Black if you can't.

Take advantage of the 5x partners which include Amazon/Flipkart, additional 10x on gift cards (which include Amazon/Flipkart and a ton of others) from Smartbuy website. With smart spend, you can earn up to 15000 points (Infinia) or 7500 points (Diners Black) per month. Not to mention periodic targeted offers that can help you earn more than this amount.

After earning, you have following options for burning the points:
1) Transfer them to Singapore Krisflyer program at 1:1 ratio. You can choose from star alliance partners such as Air India, Lufthansa, Swiss, Turkish, etc. 109000 points for a roundtrip award ticket in business class on any of the above airlines. Fuel surcharges will depend on which airline you choose.
2) Transfer to British Airways Executive Club at 1:1 ratio. You can choose from oneworld alliance partners like Qatar Airways or Finnair. The number of points required for the award ticket are calculated on distance basis, so will differ on which airline you pick, same with fuel surcharges.
3) Use the points as direct cash with 1 point = 1 Re. and book a revenue business class ticket from HDFC's smartbuy website. (Note: They only allow 70% of total cost to be paid by points, 30% have to be cash).


Feel free to ask questions.

Quote:
Originally Posted by iamitp View Post
Note - Reposting on this thread

Seeking suggestions for Business Class hacking with Credit Card points

I have long dreamt of flying Business Class. Sadly, my employer wouldn't pay for the seat and I could never muster the resolve on all previous domestic/short international flights.

Now an opportunity presents itself. A 2-week trip to Europe for Christmas 2021. My first visit to the continent.

Here's my conundrum. After Jet Airway's closure, I am unable to find a suitable Airline co-branded credit card to rack up enough miles for getting an upgrade voucher (or an award ticket).

I hardly travel on work and don't have any planned flights this year. My credit card expenses add up to Rs. 1.3 Lakhs/month with about Rs. 60,000 for utilities and the rest on dining, shopping and leisure.

I considered the Axis Bank Vistara cards, which are great for domestic upgrades/awards but not for international routes. I'm avoiding the SBI-Air India cards as Air India would be my last choice of transport.

Other co-branded cards such as Axis Bank Miles & More, Standard Chartered Emirates, ICICI Bank British Airways and travel-focused cards such as the Citibank Premier-miles & Citibank Prestige (which comes with a Rs. 20,000 + tax fee) don't seem to offer a conversion ratio that would get me enough miles for an upgrade voucher with my spending capacity.

Shall be grateful for your valuable suggestions.
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Old 13th February 2021, 19:21   #4167
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Re: The Credit Card Thread

Is there anyone here in the credit card industry?

I've been trying to get my first credit card but all my attempts in the past 1 year has failed. I'm only trying for the basic cards just to build a credit score in case I need to move out of the city for better career choices in the next 1 year. Don't want to touch my investments since it has snowballed well in the last year.

Cards I've applied for: SCB platinum card( standard choice since my salary account is here), ICICI Amazon pay card, SBI BPCL card.

Anyone here can guide me on what to do next?

Last edited by Turbohead : 13th February 2021 at 19:25.
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Old 13th February 2021, 20:01   #4168
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If you are an income tax payer (not just file returns) why is your application getting rejected? If you dont pay income tax, it will be difficult.

Also you mention investments. Which account do the returns go? Try contactingcting that bank. Dont put your salary bank a/c as the account where MF / insurance / dividend / interest payouts are credited.

Last edited by BaCkSeAtDrIVeR : 13th February 2021 at 20:04.
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Old 13th February 2021, 20:19   #4169
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Quote:
Originally Posted by iamitp View Post
Note - Reposting on this thread

Seeking suggestions for Business Class hacking with Credit Card points

I have long dreamt of flying Business Class. Sadly, my employer wouldn't pay for the seat and I could never muster the resolve on all previous domestic/short international flights.

Now an opportunity presents itself. A 2-week trip to Europe for Christmas 2021. My first visit to the continent.
If you can rake up enough points, then great. But I'll give you another tip. Next time you travel, dress well and arrive a little early at the check-in counter. Ask for an upgrade and you could get very good offers for the vacant business class seats. I was once offered an upgrade by just paying the tax amount.
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Old 14th February 2021, 12:32   #4170
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Re: The Credit Card Thread

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Originally Posted by deovrat View Post
I would advise you to go for HDFC Infinia if you can get it, or Diners Black if you can't.
Feel free to ask questions.
Thanks so much for the detailed and actionable advice. I have one more question on getting the HDFC Infinia. I have been holding a HDFC Regalia with a limit of Rs. 3.4 lakhs for the past couple of years with about Rs 5 lakh annual spend. I was excited to learn that HDFC had apparently rolled out a free upgrade (to Infinia no less) offer last month after the RBI ban on acquiring new CC customers. Sadly, I did not see any upgrade offers on my Netbanking page.

Any tips on acquiring the Infinia/Diners Black now? For free or otherwise. I do have solid credit agency scores ~ 775/900 CRIF

Quote:
Originally Posted by Jaguar View Post
If you can rake up enough points, then great. But I'll give you another tip. Next time you travel, dress well and arrive a little early at the check-in counter. Ask for an upgrade and you could get very good offers for the vacant business class seats. I was once offered an upgrade by just paying the tax amount.
That is indeed my final alternative. Just trying to not leave things to chance now that I have some time to plan
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