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Old 26th September 2021, 06:44   #4861
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Originally Posted by createrkid View Post
What happens to my credit score if I continue to use it? So many questions.
I am NOT a banker/finance specialist, but you are correct in wondering if it will hit your credit score. Aadhar/pan are linked to 'individual/orgnisation'. These will follow you as long as the Aadhar/pan numbers do NOT change. Good luck spending all those 'ill-gotten' gains. I would recommend NOT spending, alerting your chartered accountant, and may on CA advice, alert bank.
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Old 26th September 2021, 11:23   #4862
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There's an offer from Amex on insurance payments, where you get up to 10000 MR points at 15MR/Rs 100, which sounds great! But strangely some of the insurance companies simply donít accept Amex cards on their online portals. Had to pay a decent amount to ICICI insurance but couldnít use the card. So much for the offer!

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... but this leaves me baffled, how did I even get one in the first place? What happens to my credit score if I continue to use it? So many questions.
If you are a student with no income yet, you don't have a credit score to begin with. Credit cards are a good way to build up credit score, so it can only improve from here if you spend within limit and pay the dues in full every month.
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Old 26th September 2021, 13:30   #4863
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Originally Posted by SoumenD View Post
I did apply and next day their guy came home for KYC verification. Got a message saying itís approved yesterday. Yet to receive the virtual card or any communication around it though. Amazon card process was far more simpler and quicker. However I want to see what sort of balance they give me. Amazon gave a paltry 40k which I exhaust every month easily.
Similar story here. Applied on 6th Sept IIRC, KYC docs were collected on 8th. Axis bank folks called up few times to confirm KYC details and then there was no communication for a week or so. On 22nd Sept I got a SMS saying application approved and card will be dispatched soon. Till date the card hasn't been dispatched but I am able to see the card added in my Flipkart account.
Although I have the card details, I cannot make any online transactions yet since the card isn't activated and can be activated only when I enter a passcode which will come as part of the physical card+welcome kit. The given limit is 53K which is low but better than what APay ICICI has provided which was around 35K. The overall experience with FK-AXIS is below par when compared to the smooth and seamless experience with APay-ICICI that I had few years ago. At this day and age, I expected the digital experience to be much better but it looks like Axis is way behind in that department.
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Old 26th September 2021, 13:56   #4864
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Originally Posted by Funny View Post
when compared to the smooth and seamless experience with APay-ICICI that I had few years ago.
When was APay-ICICI card introduced in the market? I thought this to be fairly new.
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Old 26th September 2021, 14:01   #4865
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Quote:
Originally Posted by createrkid View Post
I'm a student with no legitimate income.
They've given me a 60k limit and it works flawlessly but this leaves me baffled, how did I even get one in the first place? What happens to my credit score if I continue to use it? So many questions.
I will strongly suggest that you start using your card and get following benefits.
1. Will help you build your credit score which will be quite useful if you want any loans in future.
2. You can get 1% to 5% cashback on your spends which will increase the purchasing power of your allowances
3. You have a motivating factor to volunteer for paying your household bills for your parents

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Originally Posted by mygodbole View Post
I am NOT a banker/finance specialist, but you are correct in wondering if it will hit your credit score. Aadhar/pan are linked to 'individual/orgnisation'. These will follow you as long as the Aadhar/pan numbers do NOT change. Good luck spending all those 'ill-gotten' gains. I would recommend NOT spending, alerting your chartered accountant, and may on CA advice, alert bank.
On the contrary, using the card had a lot more benefits as explained above. The card will be legitimate at long as you have not declared any false income.

Last edited by Everlearner : 26th September 2021 at 14:04.
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Old 26th September 2021, 14:53   #4866
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Originally Posted by Funny View Post
Similar story here. Applied on 6th Sept IIRC, KYC docs were collected on 8th. Axis bank folks called up few times to confirm KYC details and then there was no communication for a week or so. On 22nd Sept I got a SMS saying application approved and card will be dispatched soon. Till date the card hasn't been dispatched but I am able to see the card added in my Flipkart account.
Although I have the card details, I cannot make any online transactions yet since the card isn't activated and can be activated only when I enter a passcode which will come as part of the physical card+welcome kit. The given limit is 53K which is low but better than what APay ICICI has provided which was around 35K. The overall experience with FK-AXIS is below par when compared to the smooth and seamless experience with APay-ICICI that I had few years ago. At this day and age, I expected the digital experience to be much better but it looks like Axis is way behind in that department.
How long did it take for you to get the card details reflected in flipkart app?

I applied on 20th September and post KYC doc collection(on 22nd sept) received application approved sms on 25th September. App currently shows this status.
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Last edited by SoumenD : 26th September 2021 at 14:54.
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Old 26th September 2021, 16:14   #4867
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Default Re: The Credit Card Thread

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Originally Posted by JMaruru View Post
When was APay-ICICI card introduced in the market? I thought this to be fairly new.
I received it in June'2019. So, I am guessing it was introduced few months before that.

Edit: it was launched in Oct'2018.

https://economictimes.indiatimes.com...w/66427854.cms

Last edited by mukeshgoel : 26th September 2021 at 16:16.
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Old 26th September 2021, 20:13   #4868
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Originally Posted by SoumenD View Post
How long did it take for you to get the card details reflected in flipkart app?
I didn't check immediately after receiving the SMS. I checked 2-3 days later and it was showing the card details at that time.

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Originally Posted by SoumenD View Post
App currently shows this status.
At-least for you it shows some sort of progress at each step, for me it was stuck at "Pending KYC Document Collection" which directly jumped to showing the card details without any other step notification in between.
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Old 27th September 2021, 09:18   #4869
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Default Re: The Credit Card Thread

ARTICLE

SBI is already verifying identity basis Aadhaar. What's changed ?
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Old 27th September 2021, 10:46   #4870
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SBI is already verifying identity basis Aadhaar. What's changed ?
SBI the bank and SBI the credit card company are two different corporate entities.
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Old 27th September 2021, 16:39   #4871
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SBI the bank and SBI the credit card company are two different corporate entities.
I'm aware, I'm a shareholder and I'm referring to SBI cards, so is the article.
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Old 28th September 2021, 09:18   #4872
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Default Re: The Credit Card Thread

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Originally Posted by vinu_h View Post
I'm aware, I'm a shareholder and I'm referring to SBI cards, so is the article.
It probably means that the KYC process becomes cheaper for the card issuer, and the application processing becomes quicker for a customer.
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Old 29th September 2021, 16:49   #4873
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HDFC has changed rewards scheme for millenia credit card. Now we will 5% cashback in online shopping from popular websites like amazon,flipkart etc with a capping of Rs. 1000/- in a cycle. Reward points validity has been extended to 2 years. Very welcome move as i don't have to shop through smartbuy anymore for getting 5% cashback. 20000 per month is more than enough for me for online shopping. Had this announcement came a month or two back, i wouldn't have opted for icici amazon pay card.
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Last edited by Fordlover88 : 29th September 2021 at 17:03.
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Old 30th September 2021, 10:55   #4874
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Default Re: The Credit Card Thread

I am getting HDFC card upgrade offer from Regalia first to Millennia credit card. Is it worth to upgrade?

Current regalia first credit card is lifetime free but millennia will entail 1000 annual fees. It is minimal though in my opinion. What about other benefits? Thanks.
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Old 30th September 2021, 15:32   #4875
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Default Re: The Credit Card Thread

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Originally Posted by Fordlover88 View Post
HNow we will 5% cashback in online shopping from popular websites like amazon,flipkart etc with a capping of Rs. 1000/- in a cycle.
Good information. Is there a disclaimer about cashback on utility bill payments on Amazon. Is the 5% cashback also on Amazon Pay wallet load.

Last edited by AZT : 30th September 2021 at 15:46.
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