Team-BHP - The Credit Card Thread

Quote:

Originally Posted by f1head (Post 1796891)

To all :
If your bank doesnt care that you are threatening to quit, then please do quit unless you are on some super awesome credit card program.

agreed dude - I think i made a mistake by hoping one bank could meet all my needs! Maybe the local indian banks are indeed better than 'the worlds local bank' (hsbc)

Quote:

Originally Posted by slipstream (Post 1796901)

I've held a HSBC card for about 7 years now and I can remember only 1 occasion in all these years where the payment was delayed (that too by 2 days). That said, my limits have been reduced from 1 lakh to 24k and there was no direct intimation to me on the reduced limits.
However, its a pity that a lot of genuine customers with the true potential to spend and repay on time are being impacted as well and the banks are doing nothing to support such customers basis their past history.

Wow the limits are very similar to mine - i think they just profiled customers for how much they on an average spent over the last 6 months (2k approx per month) and then reduced to 10 times that amount 24k (2K*10=20k or so). I am sure this is a strategy developed by some radical moron exec in HSBC who thought this is the way to reduce risk/liability :Frustrati

Quote:

Originally Posted by jassi (Post 1796045)

I have been a customer of HSBC for 5 years now and have a powervantage salary account, some FDs as well as a gold credit card with them. Recently when I had to make a transaction of 1.1 lacs, I checked the hsbc gold card and to my surprise the limit had been dropped to 1/10th of the original (from close to 3 lacs to 24k) :eek:

I went through the exact same experience. Point to note here is that I always refused limit increases during my 5-year relationship with them; and my cc limit had been same since 2004. Payments made in full and weeks before due date always. Went through a couple of phone calls and was told nothing can be done.

End result: I went ahead and cancelled the card. Peace!

Oh and the Nodal Officer thingy: Your email will keep hitting the inbox with an automatic acknowledgement mailed back to you. But that would be the end of it and I had to write a couple of stinkers threatning them to take the matter to the Banking Ombudsman before they resolved my cc issue (which was about credit of 1500 reward points under a special promotion offer).

ABN-AMRO has been kind to me so far. No such reductions so far on my cc. I have someone at home working with them and very well know the drastic cuts happening.

Quick update. I received a phone call informing me my policy was cancelled. I insisted on a written confirmation, as the same information was reversed in my monthly statement.

Since then, I have received written confirmation from both the insurance division AND the card division informing me that the charge has been credited to my account.

Am now in the process of dealing with a brick and mortar firm for my health insurance requirements.

Thanks again for the views, both supporting and against my post. We all need to be objective. It helps to know if good faith is present in one's own actions.

Yesterday, I used my Axis Bank credit card [CC] to make online payment of BBMP property tax for my daughters' vacant sites, through their website www.bbmp.gov.in. All the three transactions were successful. But, in my online credit card statement, the cash limit was reduced by that amount. I thought that the cash limit was meant for ATM witdrawal only, which I have never used so far. When I enquired with the customer care, I was informed that some government websites have been configured that way and I would not be charged extra for these transactions. I have done online transactions using my CC but I had never seen reduction in cash limit. This was the first time I had this strange experience. Is this the norm in government websites as claimed by the customer care of Axis Bank CC?

Quote:

Originally Posted by J.Ravi (Post 1842534)

YI have done online transactions using my CC but I had never seen reduction in cash limit. This was the first time I had this strange experience. Is this the norm in government websites as claimed by the customer care of Axis Bank CC?

Are you sure ?

HDFC, Kotak, ICICI and Citibank all exhaust your cast limit first even if you are making a credit purchase, atleast thats my experience.

Quote:

Originally Posted by f1head (Post 1842552)

Are you sure ?

HDFC, Kotak, ICICI and Citibank all exhaust your cast limit first even if you are making a credit purchase, atleast thats my experience.

I have never seen my Cash limit blocked for any of the transactions I made, online or at POS. May be the Govt. sites are configured that way.

Quote:

Originally Posted by f1head (Post 1842552)

Are you sure ?

HDFC, Kotak, ICICI and Citibank all exhaust your cast limit first even if you are making a credit purchase, atleast thats my experience.

Quote:

Originally Posted by Fordmanchau (Post 1842558)

I have never seen my Cash limit blocked for any of the transactions I made, online or at POS. May be the Govt. sites are configured that way.

I have citibank cc and if my card has not any a/c balance toward dbt side, then, when i make any purchase, firstly my purchase limit is reduced, not cash limit.
If purchases are more than difference between purchase limit and cash limit, then cash limit start to reduce after extra limit for purchase exhausted.

Quote:

Originally Posted by ASHISHPALLOD (Post 1842564)

Ok, I will check again in next month's statement. I could be wrong now that you mention it.

My office earlier asked me to apply for a corporate credit card from HSBC, which was issed in my name and delivered to my office. Though due to some change in corporate credit card policy of my organization I have never received the card. Now I'm leaving the organization what should be my stand as far this credit card is concern? Should I have to inform HSBC that I'm leaving the organization?

Hi guess i really need some help with this.
My sis is studying in the US(Boston).I have to gift her a Lenovo Thinkpad T410 which i configured online on Lenovo US website for 1200$ final price .
How do i pay for it ?
They are accepting American Express with US billing Address , Switch Solo Delta Visa Master (US Issued) or paypal.

I did create a paypal account and linked two credit cards with it but it is not giving me the option of delivering in the US only in India .

Pls help .
Or are their some other ways which i do not know of ?

Thanks