[Guite]

I once downloaded and registered on Cred. I have since removed the app and have not used it anymore.
1. Will my Cred account be still active?
2. Will this whatever salary shield be levied on me?

[Funny]

Originally Posted by Guite

I once downloaded and registered on Cred. I have since removed the app and have not used it anymore.
1. Will my Cred account be still active?
2. Will this whatever salary shield be levied on me?

1. Maybe. Removing the app doesn't mean that the account gets deleted/deactivated. You can try logging in again and manually find the account deactivate/delete option and use it.
2. No. Salary shield is a optional addon that was getting automatically selected while making CC payments. And it's not like it's a hidden item, you can clearly see the optional item and chose to remove it before going ahead with the outstanding payment, I am not sure how anyone could miss seeing it and make the payment unknowingly in which case it'll be a over-lapse on the user's part. Even if you did make the payment, it's a insurance, you can always request them to cancel it and refund the amount. Not sure why so much hue and cry about it. When you are the product, you should expect such things.

[fazayal]

Originally Posted by Ithaca

The gentleman has deleted the post. Here is the screenshot. Hope this helps.

He deleted the post because it was wrong information and misleading. Shield isn't added by default. It is given as an option and you can add if you want. Otherwise, it won't be added. Something as an irritant for sure but not a scam for sure.

Edit : I tried to make payment through Cred. The Shield isn't added by default but comes as an option if you want to add. Screenshot below.

[Shreyas_H]

Originally Posted by tejas08

Here's what Credit Cards can get you!

78,000 Infinia Points + Rs. 4,440

The result is a Business Class Return ticket from Mumbai to Bali on Singapore Airlines with an experience of Business Class of three different Singapore Airlines Aircrafts

Neat!
Is this by converting points into SA air miles or directly booked through SmartBuy? That would need 30% to be paid by card right?

[tejas08]

Originally Posted by Shreyas_H

Neat!
Is this by converting points into SA air miles or directly booked through SmartBuy? That would need 30% to be paid by card right?

Converting in SIA Airmiles and doing a award ticket booking.

The revenue value of the same was around 1.5 Lacs. Via Smartbuy, this would have needed 1.05 Lac Infinia Points + 45K Rs. So Arithmetically, a value of around 1.8-1.9 Re per Infinia point.

[Lobogris]

Originally Posted by tejas08

The revenue value of the same was around 1.5 Lacs. Via Smartbuy, this would have needed 1.05 Lac Infinia Points + 45K Rs. So Arithmetically, a value of around 1.8-1.9 Re per Infinia point.

Please tell us the approximate amount of spending you had to do on your Infinia card to be able to avail this benefit.

[KungFuPanda]

How did you manage that? Isn't redemption limited to 70% only?

Originally Posted by tejas08

Here's what Credit Cards can get you!

78,000 Infinia Points + Rs. 4,440

The result is a Business Class Return ticket from Mumbai to Bali on Singapore Airlines with an experience of Business Class of three different Singapore Airlines Aircrafts

Airbus A380-800
Boeing 787-1000
Airbus A350-900

I see that you mentioned converting Infinia points to SIA miles. Thanks!

[tejas08]

Originally Posted by Lobogris

Please tell us the approximate amount of spending you had to do on your Infinia card to be able to avail this benefit.

For the 1st ticket, somewhere between 4-4.5 Lacs. The spending requirement progressively increases as devaluations happen on a card.

I booked three award tickets using Miles. Approx. 15 Lacs spends over a period of 14-16 Months.

[charanreddy]

Originally Posted by Funny

2. No. Salary shield is a optional addon that was getting automatically selected while making CC payments. And it's not like it's a hidden item, you can clearly see the optional item and chose to remove it before going ahead with the outstanding payment, I am not sure how anyone could miss seeing it and make the payment unknowingly in which case it'll be a over-lapse on the user's part. Even if you did make the payment, it's a insurance, you can always request them to cancel it and refund the amount. Not sure why so much hue and cry about it. When you are the product, you should expect such things.

These are deceptive business practices Cred has borrowed from US. Back in 2009 , as credit defaults mounted due to credit crisis, the card companies came up with a bunch of fraud practices to get more revenue from existing good customers. The US government came up with a lot of legislation like the CARD act ( https://en.m.wikipedia.org/wiki/Credit_CARD_Act_of_2009 ) to reign in these corrupt issuers . One of the most unethical product was debt protector or credit protector product , where bank covers your minimum due for two months due to disability or unemployment with maximum outgo of 4% of balance while collecting 12% PA. Many banks faces multi million dollar fines due to this unfair practice. As a rule avoid all credit card add on products. They are there only to increase revenue to the company at the expense of the customer, often in down right unethical ways.

[Aroy]

Originally Posted by Funny

Yes this is how CC works. Reversals are generally not considered as payment for already generated bill. As they said, make the total outstanding payment and request them to waive off the late payment charges and also ask them if they can get the reversed amount credited to your bank account since few of the banks have this option available.

Not always. AMEX reflects any reversal charges; even after bill generation; while calculating "outstanding".

BUT yes in general the other cards do not bother to update the outstanding amounts. By the way a similar situation was faced by one of the members (do not remember how long ago) and it was solved by approaching the card issuer. You can escalate the issue and try your luck.

[SideView]

Guys,

Is there transaction charge even for debit cards?
I filled fuel worth 2.3k, swipe machine showed 2.3k.

But when i see the account statement it shows 2320.8? This was not the case previously. (Between using citi debit card)


Has something changed recently?

[SilentEngine]

Originally Posted by Funny

Not sure why so much hue and cry about it. When you are the product, you should expect such things.

I doubt if everyone using Cred know that they are the product!

This practice of adding things without user's consent and expecting the user to unselect it, that's clearly a dark pattern. Complaining about it is one way of spreading the awareness.

[Funny]

Originally Posted by SilentEngine

This practice of adding things without user's consent and expecting the user to unselect it, that's clearly a dark pattern. Complaining about it is one way of spreading the awareness.

While I agree that these are not good for the end-users, such practices are seen elsewhere also where the user is not a product but a customer. BookMyShow and MakeMyTrip are two examples I can think of where an optional Charity/Insurance add-on is auto-selected and user has to manually unselect it before making the payment. I don't see users complaining about them though.

[careind]

Originally Posted by Funny

While I agree that these are not good for the end-users, such practices are seen elsewhere also where the user is not a product but a customer. BookMyShow and MakeMyTrip are two examples I can think of where an optional Charity/Insurance add-on is auto-selected and user has to manually unselect it before making the payment. I don't see users complaining about them though.

The time to take the trouble to complain would depend on the value of the transaction. In CRED's case it was additional Rs. 1499/2499, which is sizeable.

Probably, the transaction value in BookMyShow/MakeMyTrip mey not be that high and not many individuals felt the need to take the trouble of whining about it.
Also, it gives out a bad image and might backfire in social media that one is not supporting charity and cribbing for even as lowly an amount as Rs.5 or Rs.50.

In general, opt-out is wrong. One needs to willingly opt-in for whatever one is being charged for.

[thanixravindran]

Originally Posted by SilentEngine

I doubt if everyone using Cred know that they are the product!

This practice of adding things without user's consent and expecting the user to unselect it, that's clearly a dark pattern. Complaining about it is one way of spreading the awareness.

Conventional wisdom is you pay your dues directly to the card company since ages. If someone comes and tells to pay it through him for free, any person should be able to deduce that there is a catch. So I don't believe users of cred are naive. All the modern fintechs are just wrappers and interested in data but I do not understand what they will do with the data. Does anyone know?

Coming to this instance there is no blame on cred. I read the thread in twitter before it was deleted. One user has even shown that it is an add on and not added by default which is acceptable business practice. Also, cred replied with the steps if they have to cancel it in case user has added inadvertently in the same thread. This is the reason the post is deleted. I am not a cred user.

There are lot others do this sneak in which needs to be exposed and made aware of. Always view the break up of any payment and then proceed to payment.

One question - How this rent payment works that most new age companies offer? I thought you just pay your rent by online bank transfer (now UPI) to land lord account or give cash. Sorry if this is too basic question.

@Sideview - Couldn't quote you in middle of reply. Debit cards do have fuel surcharge unless the banks waive it. Once used my wife's Axis debit card and it was added on settlement not on SMS or slip. Citi Bank has waived it and was never charged in the last 15 years.