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Old 6th March 2022, 21:37   #5251
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Re: The Credit Card Thread

Hello,

Could anyone help me in checking the airport lounge access eligibility for my CC / DC?

I the following cards,
1. HDFC Moneyback CC & a Platinum DC.
2. ICICI Amazon Pay CC & DC (Platinum I think).

Pardon my limited knowledge on this subject.
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Old 7th March 2022, 07:00   #5252
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Credit Card Limit Enhancement

Hello friends,

HDFC netbanking ('Cards --> Request') doesn't indicate that my LTF CC is currently eligible for further limit enhancement. At the same time, however, the 'Offers' tab says:

Quote:
No expense is too big now! You have been upgraded to a Higher Limit of Rs. *** on your Credit Card ****

The indicated enhanced limit is 30% over my current limit (which is already high enough for me for most purposes), and is supposed to be "Pre-Approved". Also, there are "No T&C (??!)", "No Charges", with option for "Instant Activation" via an "Activate Now" button right next! What could be the catch, if any? How come no Limit Enhancement eligibility is indicated at the expected place under 'Cards --> Request' at the same time? Anyone else has seen anything like this? Should I go for it? Thanks.
.
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Old 7th March 2022, 10:05   #5253
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Re: Credit Card Limit Enhancement

Quote:
Originally Posted by meerkat View Post
...What could be the catch, if any? How come no Limit Enhancement eligibility is indicated at the expected place under 'Cards --> Request' at the same time? Anyone else has seen anything like this? Should I go for it? Thanks.
.
There is no catch, go ahead and accept it which will increase your "credit" availability which in turn will boost your CIBIL and other credit rating agencies' score (there may be a minor 4-5 point dip but it will get adjusted later).

Bigger credit limit helps in boosting score irrespective you need the credit or not. It comes extremely handy when you suddenly make a big purchase which otherwise would have ended up utilizing over 50% of your credit limit.

P.S. It is wise to sometime touch 50% mark, that's when your credit card company realize that your credit requirement is higher than what they have offered thus they send "limit increase" message through the official means.
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Old 7th March 2022, 12:09   #5254
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Re: The Credit Card Thread

Is there a way to use my ICICI APay CC for IRCTC transactions, Fastag Payments and TataSky recharge?

However much I try, finally these gateways make me use net banking.
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Old 7th March 2022, 12:11   #5255
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Re: The Credit Card Thread

Enhance the credit limit when ever it is offered, after all enhanced credit limit does not increase the card annual charges (if any). A higher limit can be a boon in emergencies, especially medical emergencies ones where you can easily tot up bills of a few lakhs (even if you have insurance and TPA, at times you have to deposit the amount to speed up the process).

As advised, set spend limits for various categories and then you are protected from major fraudulent use. You can always change the limits when needed for large expenses, and then set it back.
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Old 7th March 2022, 15:37   #5256
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Re: The Credit Card Thread

Hello, I have a query to the credit card experts here.
I have been using an HDFC Regalia for over two years. It is my only CC & usually my monthly spending on it is about 10-20% of the credit limit. I have never used credit cards for fuel purchases. Does it make any sense to try and get another fuel company co branded CC? Asking this because presently the fuel expenses between me and my wife stands around 10-15k INR monthly which is likely to increase in the coming months. Also, since I have a recently taken vehicle loan will it affect my credit scores badly if I apply for another credit card?

Thanks in advance
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Old 7th March 2022, 16:51   #5257
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Re: The Credit Card Thread

Quote:
Originally Posted by Night Raven View Post
Hello, I have a query to the credit card experts here.
I have never used credit cards for fuel purchases. Does it make any sense to try and get another fuel company co branded CC? Also, since I have a recently taken vehicle loan will it affect my credit scores badly if I apply for another credit card?

Thanks in advance
Yes, it makes perfect sense for a Fuel Co Branded CC as you can easily get 3-7 percent back. I had similar fuel expenses per month and saved quite a bit with a SBI BPCL card(4.25 % ValueBack - 3.25% cashback + 1% Fuel surcharge waiver). There is now the higher SBI BPCL Octane which offers 7.25 Value back (6.25% + 1% Fuel surcharge waiver). You can choose other Fuel Co Branded CCs based on your existing banking relations.

Credit limit might take a few points of hit if vehicle loan was taken within 2-3 months and there is a new CC application + Credit Query from the bank. Even if it does, your credit mix will increase and eventually your credit rating will be back to normal.
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Old 7th March 2022, 19:33   #5258
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Re: The Credit Card Thread

I have noticed something really weird and interesting related to my CIBIL score. My total available credit is around 50 lakhs and is spread across 7 or 8 credit cards. There are no other loans apart from an small Amazon pay later. My credit history is around 20 months old. My score used to be constant at around 800. However, a few months back, it dropped to 760 without any changes in my profile. No new enquiries, no new accounts, no changes at all. The only thing that changed was that total credit used was shown as 12k which was way less than even 1% of the total available. Using the score simulator, it went up to 790 if all balances were paid off. So I started making instant payments, several times a week, on all cards right after any usage. Sure enough, after a couple of months, the reported usage was 1.3k and the score climbed to 780. Now, yesterday, the reported usage was shown as 2.3k and the score dropped by 1 point to 779.

Isn’t this too harsh? I understand using a high percentage of available limit like say, 30% or more can lead to a negative inference but using just 0.1 percent should not affect it. Otherwise what is the benefit of having any cards? I can’t always ensure a zero usage figure as each bank reports randomly and the data is not always up to date. As an example, I could have purchased something worth 2k on a card and then paid it the next day but they might report it as 2k balance as they reported the data from an earlier date. This is leading me to make dozens of payments each month. Has anyone noticed anything similar?
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Old 7th March 2022, 19:39   #5259
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Re: The Credit Card Thread

Quote:
Originally Posted by Lobogris View Post
Isn’t this too harsh? I understand using a high percentage of available limit like say, 30% or more can lead to a negative inference but using just 0.1 percent should not affect it. Otherwise what is the benefit of having any cards? I can’t always ensure a zero usage figure as each bank reports randomly and the data is not always up to date. As an example, I could have purchased something worth 2k on a card and then paid it the next day but they might report it as 2k balance as they reported the data from an earlier date. This is leading me to make dozens of payments each month. Has anyone noticed anything similar?
Why are you so concerned if you are not looking to apply for any auto/home loan immediately? Your credit history is comparatively very new being 20 months old and hence it might be changing. Even I find this behavior but I am not bothered. You too don't have to bother with payments like these, just ensure you pay in full before the due date and you are sorted.

Last edited by Aditya : 8th March 2022 at 06:26. Reason: Quoted text trimmed
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Old 7th March 2022, 20:44   #5260
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Re: The Credit Card Thread

Quote:
Originally Posted by ronford View Post
Why are you so concerned if you are not looking to apply for any auto/home loan immediately? Your credit history is comparatively very new being 20 months old and hence it might be changing. Even I find this behavior but I am not bothered. You too don't have to bother with payments like these, just ensure you pay in full before the due date and you are sorted.
I am not too worried as in any case I donít need any home or auto loans. I always pay cash (bank transfer) for those. This is only due to curiosity. I only started using credit cards for rewards. Still, I think the impact is too much considering how little of the total available limit is being used.
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Old 8th March 2022, 18:17   #5261
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Re: The Credit Card Thread

Related to AMEX sharing data with NeSL, the linked article from Medianama has a deep dive from a privacy and legal viewpoint.

Deep Dive: The privacy implications and legality of RBIís mandate to banks to share credit card information with NeSL

Considering AMEX is the first card issuer to make its customers aware of this, my assumption is other card issuers are already sharing this data but have not informed their customers (probably some fine print in the T&C already gives them the relevant permissions).
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Old 8th March 2022, 19:13   #5262
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Re: The Credit Card Thread

Kind of a noob question on HDFC SmartBuy -

So far I have used the portal to redeem my points only for hotels and flight tickets, and once for Amazon vouchers when it was at 70% conversion ratio
I recently got my Diners Black upgraded to an Infinia and have a lot of points accumulated with me. I remember reading that Apple products are at 1 Rs = 1 point (with 70% payable through points and rest through the card)

However the SmartBuy portal doesn't even seem to have the iPhone 13. Am I not looking at the correct section?

The Credit Card Thread-sb.png

Anyway the points/price mentioned in this section seem quite higher than what the regular market price of these items are. Am I missing something? Doesn't seem like good value to buy Apple products through this then
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Old 9th March 2022, 15:59   #5263
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Re: The Credit Card Thread

Ranting starts!!

Why is it so hard to get a credit card in India? I submitted my application to both HDFC and SBI. Both have not bothered to update me with any status. My CIBIL score is above 800 easily. Yet I am finding it difficult to get a basic low balance card. I am fed up now and have decided not to apply for a goddamn credit card here.

Ranting end!!
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Old 9th March 2022, 16:13   #5264
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Re: The Credit Card Thread

Quote:
Originally Posted by Shreyas_H View Post
I recently got my Diners Black upgraded to an Infinia
Could you please tell me how you got this upgrade? I have been trying since more than an year, but they are not committing anything. My current DB is LTF, so I also want my upgraded CC to be LTF. May be, that is the reason they are not committing my request?
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Old 9th March 2022, 16:22   #5265
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Re: The Credit Card Thread

If you have amazon or FK account, why not try ICICI amazon or Axis Flipkart. I'm sure they will be easier to obtain. Got my amazon ICICI card in less than a week after applying for.

Quote:
Originally Posted by arunramaswamy View Post
Ranting starts!!

Why is it so hard to get a credit card in India? I submitted my application to both HDFC and SBI. Both have not bothered to update me with any status. My CIBIL score is above 800 easily. Yet I am finding it difficult to get a basic low balance card. I am fed up now and have decided not to apply for a goddamn credit card here.

Ranting end!!
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