Team-BHP - The Credit Card Thread

Quote:

Originally Posted by binand (Post 5054311)

It also has a "Block SMS automatically" feature. Did you check if these SMSes are getting blocked or not?

Nope, nothing is blocked. Moreover, the transaction SMS, OTPs and even the credit SMS (the one you get after you make the payment) are all being delivered fine.

Quote:

Originally Posted by Holyghost (Post 5054302)

My HDFC and Standard Chartered credit cards are not sending payment reminders as SMS for Credit card statements.

This happened to my HDFC card a few years ago. I have a lot of cards and I meticulously pay all my dues before the due dates. But I rely in the due date reminder SMS/email for this. HDFC card suddenly stopped sending alerts for due dates and as a result I missed a few payment dates. I was charged penalty for not paying on time. However in most of the cases the penalty charges got reversed after talking to the customer care. I wrote quite a number of mails to the customer care to resolve this but nothing happened.

As the whole thing was very inconvenient to me I stopped using my HDFC card. I use it in case there is some good discount offer etc and make the payment immediately so that I don't miss the due date. BTW I converted my Regalia card to a lifetime free card after writing to the customer care.

Quote:

Originally Posted by Holyghost (Post 5054302)

My HDFC and Standard Chartered credit cards are not sending payment reminders as SMS for Credit card statements. I am getting OTPs and card transaction alerts as SMS, but statement related SMS...

I hold both HDFC as well as Stanchart cards and I continue to get both - the statement generated SMS alert as well as the due date alert, do recheck if these alerts have been disabled in the respective websites or if it is any issues related to KYC

Quote:

Originally Posted by binand (Post 5054187)

The temporary credit is now made permanent.

Do keep an eye on your statements. I had a similar issue with my HDFC card and similar reversal of charges. However after 3 months, it again popped up saying that their investigations showed that no fraud has occurred. Since the amount was Rs. 14398.16, I noticed it and am now trying to prove that I have not spent the amount on an online shopping site. Still under investigation though. I think I should have registered an FIR.

Quote:

Originally Posted by wildsdi5530 (Post 5054538)

However after 3 months, it again popped up saying that their investigations showed that no fraud has occurred.

Here the investigations have been completed and the case(s) have been ruled in my favour. The matter is closed now.

I got the Amazon Pay ICICI Credit Card and recently made some purchases, my first ever monthly billing date is day after tomorrow. The transactions I made using the card some weeks back has shown up in the outstanding amount and I paid the bill some days days back, yesterday I purchased a phone using the card and my credit limit decreased but the outstanding amount is still 0. Why is that? Also can I make the payment to my credit card even when the outstanding amount is 0?

Quote:

Originally Posted by binoyyj (Post 5055424)

1. It takes a day for the transaction to show up on the credit card, but the limit is decreased immediately. Standard CC operating protocol. You will see the outstanding balance in a day or two max.

Think of it as damage control - you cannot swipe the CC for more than the limit, and there is no real harm in showing up the TX itself a day later.

2. Yes, you can have NEGATIVE balance on a credit card, lots do this, for several reasons. Go ahead.

I recently started using BPCL SBI Card which is notorious for not honouring rewards at partner pump locations.

I wish to report that I was successfully able to redeem my reward points for 1870 INR worth of petrol. BPCL Petrol pump named "BP Chauhan Pump Tangra" located on Amritsar - Jalandhar national highway honoured my request to pay via points politely and without any drama.

So, if someone from the region wishes to get the card, he can get the same as rewards can be easily converted into fuel.

What if I made a purchase using Credit Card and cancelled the order? Where does my refund get credited to? The reason I'm asking is because I made a purchase using the Amazon Pay ICICI Credit Card and had to cancel the order, but I do not have any ICICI account. Or do they create an account automatically when I sign up for the credit card?

Bank does not open a typical bank account in your name for a credit card. the credit will be reflected in your statement. It will show a line item of the charge for the amount, and shortly after another line item of cancelled order. So in the net you don't have to pay that amount. Think of your credit card as a loan account.

Quote:

Originally Posted by binoyyj (Post 5055513)

Quote:

Originally Posted by click (Post 5055517)

Sorry, I'm confused. What if I already made the payment to my credit card? Suppose my billing date is tomorrow, I made the purchase yesterday, paid my credit card bill today, and day after tomorrow I decided to cancel my order, where does my money get credited?

Credit card loans must be the most expensive loans around. You can save some money on special sales and cashbacks. These savings and cashbacks are eaten up by the high interests they charge.

I have a credit card. I use this for travelling and buying online and pay back during the 45 day interest free period. I never use a credit card to supplement my income. If I cannot pay back within 45 days, I dont buy it.
I dont know about the interest in India but in Europe they can be as high as 30%!

Lets say you take a credit of 5000 euros and pay only the minimum payment of 90 euros a month. It will take you 18 years and cost 19,000 euros for a 5000 euro credit.

These credit card companies are like leeches. They try to suck the blood out of you. They are not around to help you but to make money.

Quote:

Originally Posted by Holyghost (Post 5054302)

My HDFC and Standard Chartered credit cards are not sending payment reminders as SMS for Credit card statements. I am getting OTPs and card transaction alerts as SMS, but statement related SMS are not being sent. Usually there will be one SMS on the day of statement generation stating the payment due date and due amount. Similarly, 3 days before the payment due date, I used to get another reminder SMS with the same info.

SC had stopped this SMS more than a year back and despite complaining multiple times, they did not enable the statement alerts. I stopped using that card completely since I relied on these SMS and chances of missing the payment was high.
Now HDFC has started this and I haven't received the statement alerts for the past 3-4 months. I use Microsoft SMS Organiser and it has a nifty reminder feature that uses these SMS to alert you about the CC payment and the amount. Now that I am not receiving these SMS, it is getting difficult to track the required payments.
Has anyone else noticed this?

I still get SMS reminders for my SC cards, so I don't think it is a general issue. For that matter, I also get them for my HDFC regalia, so it is quite likely that it is some issue on your side.

Noticed a strange thing yesterday while shopping in amazon with sbi prime credit card.It send's otp in both registered email & phone number. I normally use sms otp & don't usually bother about email otp. Did the same yesterday but while casually browsing through my email i noticed that the email otp didn't match with the sms one. Is this possible? Can two different otp's be used for the same transaction?