Team-BHP > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 28th March 2021, 12:02   #4276
BHPian
 
Join Date: Mar 2018
Location: Thane - MH04
Posts: 272
Thanked: 1,086 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Aroy View Post
Many banks are stopping Lifetime Free cards, so this is nothing new. Heck even my HDFC ATM debit card has an annual fee now.

The only bank that still has LFT cards that I know of is ICICI. Both my Platinum and Amazon cards from ICICI are LFT, sadly my AMEX which was LFT for last 20 years has now started annual fee (so I cancelled it).
You can add HSBC to the list of banks offering LTF cards but I do agree that such options are going down in number. Take it while it is still available
sunilch is offline   (1) Thanks
Old 29th March 2021, 03:57   #4277
BHPian
 
Join Date: Oct 2009
Location: Mumbai
Posts: 146
Thanked: 969 Times
Default Re: The Credit Card Thread

I have an ICICI Amazon Pay credit card for the last two years and have been satisfied with it.

One grouse is that in the statement, they don't show points earned per transaction but just a lumpsum of the points earned in the billing cycle.

In this month's statement I found the Amazon Pay rewards earned to be much lesser than my expectations. I manually calculated (5% on Amazon shopping, 2% on Amazon bill payments and 1% everywhere else except fuel) and found that they had credited much lesser amount. I did the same for last 3-4 bills and found discrepancy in my January bill as well.

I downloaded the ICICI imobile Pay app. They show credit card transactions for last 30 days and points earned per transaction. I tried to reconcile it with my latest credit card bill and saw that it didn't match. It was showing exactly what I had calculated manually.

I have raised a complaint last Tuesday. They were supposed to get back to me in 48 hours with a resolution but haven't replied me back yet. I would follow up on Tuesday which is next working day.

Just wanted to check if anyone else is facing a similar issue. I can't understand why they can't show points per transaction transparently in the statement like every other companies do?
fazayal is offline   (3) Thanks
Old 29th March 2021, 08:46   #4278
BHPian
 
Join Date: Jun 2014
Location: Chennai
Posts: 40
Thanked: 135 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by smrtdvl View Post
Hi I got upgraded from regalia to LTF .......Hope this helps.
Thank you, will check that route out.
Marshall is offline  
Old 29th March 2021, 09:26   #4279
Senior - BHPian
 
Join Date: Apr 2009
Location: Bangalore
Posts: 1,043
Thanked: 3,496 Times
Default Re: The Credit Card Thread

Friends
I was planning to get Bajaj EMI Card so that few purchases can be done through 0% EMI Options through Bajaj Finserv EMI Card.

I contacted BAJAJ FINSERV through their website and they offered me the Bajaj Finserv EMI Super card. Based on the interaction and multiple calls with Bajaj Finserv marketing team, I had understood that the card was offered free of charge for 3 years and post 3 years I can either cancel the card or pay annual fee of 500 rs.

But, Just before the despatch of the card, their final verification team calls as customery verification and ask us whether we are fine with all terms and conditions.

During this interaction, they informed me that the card is free only for first year and second year onwards, I may have to pay annual fee of Rs. 5000.

Immediately, I clearly communicated to the team that I am NOT in agreement with the terms and conditions and requested them to CANCEL the card and NOT send the card to me.

In spite of my disagreement with terms and conditions, even though I requested them NOT to send the card, I have received the card on Friday by courier.

As mentioned above, I am not in agreement with the terms and conditions of the payment mentioned in the instructions manual.

I wrote an email to them that I am not in agreement with terms and conditions and requested them to cancel the card. Have so far not got any response from them.

Now, question is, how do I cancel the card and avoid future fee of 5000 per annum?
gkveda is offline  
Old 29th March 2021, 09:32   #4280
BHPian
 
Join Date: Dec 2009
Location: Bengaluru
Posts: 394
Thanked: 410 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by gkveda View Post
Now, question is, how do I cancel the card and avoid future fee of 5000 per annum?
Card activates only after you make a transaction & not before. You've sent an email asking for cancellation, so that's on record. Send a follow up seeking confirmation. Login via website or telephone and block the card as well for additional cover.
vinu_h is offline   (1) Thanks
Old 29th March 2021, 10:45   #4281
BHPian
 
kavensri's Avatar
 
Join Date: Oct 2015
Location: Bengalooru
Posts: 252
Thanked: 349 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by fazayal View Post
Just wanted to check if anyone else is facing a similar issue. I can't understand why they can't show points per transaction transparently in the statement like every other companies do?
Thanks for bringing this issue here. Even I have been doing exactly the same thing and I have found that there is a discrepancy between their calculation and my own calculation. I have raised the issue with their CC and their standard response is like this “There is no discrepancy as per our records, reward points have been calculated and credited as per ratio with no discrepancy .”
kavensri is offline   (2) Thanks
Old 29th March 2021, 12:28   #4282
BHPian
 
Safety is Param's Avatar
 
Join Date: Dec 2012
Location: Cosmopolitan
Posts: 340
Thanked: 458 Times
Default

Quote:
Originally Posted by gkveda View Post
Bajaj EMI Card ... final verification team calls as customery verification... I clearly communicated to the team that I am NOT in agreement with the terms and conditions... I have received the card on Friday by courier.
Verification calls are always recorded.

Pls escalate to appropriate contacts and clearly mention about your position conveyed on the verification call.

If you get no response, remind them about the verification call being recorded and subsequent legal consequences if the card is misused.

First thing to do when the card shows up in your profile is to block it

Pls don't mince your words in your follow up communication with them - give them what they deserve.

I am seeing many service providers compromise on ethics in the past 10 months.
Safety is Param is offline   (1) Thanks
Old 29th March 2021, 13:16   #4283
BHPian
 
Join Date: Oct 2009
Location: Mumbai
Posts: 146
Thanked: 969 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by vinu_h View Post
Card activates only after you make a transaction & not before. You've sent an email asking for cancellation, so that's on record. Send a follow up seeking confirmation. Login via website or telephone and block the card as well for additional cover.
Did you ask them for their calculation break up? Because that's what I'm gonna do if they send this reply to me!
fazayal is offline  
Old 30th March 2021, 12:56   #4284
AZT
BHPian
 
Join Date: Nov 2019
Location: Bombay
Posts: 452
Thanked: 1,758 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by fazayal View Post
One grouse is that in the statement, they don't show points earned per transaction but just a lumpsum of the points earned in the billing cycle.
You can see points per transaction on the ICICI imobile app. Go on My Cards>Click on your card>Click My rewards at bottom.

You can see all transactions and points received individually. I don't have an ICICI account, just the card.
AZT is offline  
Old 30th March 2021, 13:23   #4285
BHPian
 
Join Date: Oct 2009
Location: Mumbai
Posts: 146
Thanked: 969 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by AZT View Post
You can see points per transaction on the ICICI imobile app. Go on My Cards>Click on your card>Click My rewards at bottom.

You can see all transactions and points received individually. I don't have an ICICI account, just the card.
Yup, I know that. It however shows transactions of only last 30 days. And it's not tallying with the Amazon Pay balance credited by them.
fazayal is offline  
Old 30th March 2021, 21:34   #4286
BHPian
 
turbospooler's Avatar
 
Join Date: Mar 2013
Location: Pune
Posts: 252
Thanked: 423 Times
Default Re: The Credit Card Thread

Hi BHPians,
Some of you may have heard that Mobikwik has suffered a data breach and the details of what is leaked can be checked via a TOR website.
I request everyone to please delete all your cards from Mobikwik, switch off international transactions, and lock Aadhaar info to be pulled by anyone.
Atleast, this is the way you can secure yourself for a while.
If anyone is interested in the TOR website, I will PM it as I don't know if it is OK to share the link openly.
turbospooler is offline   (3) Thanks
Old 30th March 2021, 22:29   #4287
BHPian
 
Join Date: Feb 2020
Location: Bangalore
Posts: 184
Thanked: 1,156 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by turbospooler View Post
Hi BHPians,
Some of you may have heard that Mobikwik has suffered a data breach and the details of what is leaked can be checked via a TOR website.
I request everyone to please delete all your cards from Mobikwik, switch off international transactions, and lock Aadhaar info to be pulled by anyone.
Atleast, this is the way you can secure yourself for a while.
If anyone is interested in the TOR website, I will PM it as I don't know if it is OK to share the link openly.
Thanks for posting this! I am not sure if my issue is related to this, two days ago someone logged into my flipkart account and used all the supercoins to buy some gift vouchers. Flipkart support told me that there was a suspicious activity in my account and advised me to change all passwords. I was using the same username and password for both mobikwik and flipkart (and many other sites . Have to change everything) so can't rule out the possibility of this incident being related to the data breach.
nagr22 is offline   (2) Thanks
Old 31st March 2021, 06:46   #4288
BHPian
 
Join Date: Jan 2008
Location: Bangalore
Posts: 658
Thanked: 825 Times
Default Re: The Credit Card Thread

What is this:

https://www.livemint.com/industry/ba...108811026.html

Why the hell is the govt interfering in needless things??? This just makes it so inconvenient, giving approval every time!

The whole idea was to automate certain bill payments (electricity, etc) below a certain limit. Now I can't automate it! It looks like it necessarily needs my approval every time. ***!
vharihar is online now   (1) Thanks
Old 31st March 2021, 08:30   #4289
Senior - BHPian
 
Join Date: Dec 2008
Location: Bangalore
Posts: 2,776
Thanked: 2,979 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by vharihar View Post
Why the hell is the govt interfering in needless things??? This just makes it so inconvenient, giving approval every time!
As far as I am concerned, this is the need of the hour. Pretty much every service provider seems to be retaining credit card information[*] and charging the card again, often without notice, at the end of service expiry - irrespective whether I really want to renew or not.

In fact, of late it had become a painful post-signup process to hunt for the specific sequence of clicks/taps to disable this "feature". You forget this, you lose money.

For once, a regulator who identified a touchpoint where providers exploit consumers, and took action to address it. Who'd have thunk it?

Lastly - it is not always like you say, "giving approval every time". That is only for recurring payments > Rs. 5000. For smaller amounts the existing workflow will continue to operate, with an additional step of the consumer specifically opting into it (I know I won't).

[*] Yes, I know they all have a checkbox "Remember this card" - but in my view it has to come by default unchecked. And not everyone even offers this checkbox (eg: Hotstar).
binand is offline   (5) Thanks
Old 31st March 2021, 09:43   #4290
BHPian
 
Join Date: Jan 2008
Location: Bangalore
Posts: 658
Thanked: 825 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by binand View Post
As far as I am concerned, this is the need of the hour. Pretty much every service provider seems to be retaining credit card information[*] and charging the card again, often without notice, at the end of service expiry - irrespective whether I really want to renew or not.

In fact, of late it had become a painful post-signup process to hunt for the specific sequence of clicks/taps to disable this "feature". You forget this, you lose money.

For once, a regulator who identified a touchpoint where providers exploit consumers, and took action to address it. Who'd have thunk it?

Lastly - it is not always like you say, "giving approval every time". That is only for recurring payments > Rs. 5000. For smaller amounts the existing workflow will continue to operate, with an additional step of the consumer specifically opting into it (I know I won't).

[*] Yes, I know they all have a checkbox "Remember this card" - but in my view it has to come by default unchecked. And not everyone even offers this checkbox (eg: Hotstar).
Well, the last line in the below link offers a weak justification, quoting:

The central bank took this step, citing data leaks at payments processor Juspay and neo banking startup Chqbook

https://www.thenewsminute.com/articl...april-1-146148


But yet, this is too drastic a step for that!

They could have enforced the new rule in payment gateways, but why on banks that issued your credit card? The banks anyway have that info with them!

Anyway, I hope it is only for amounts over 5K as you seem to suggest.
vharihar is online now   (1) Thanks
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright ©2000 - 2021, Team-BHP.com
Proudly powered by E2E Networks