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Old 22nd June 2023, 07:50   #6616
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Re: The Credit Card Thread

I have Axis Bank IOCL RuPay Card, Please keep in mind, below points.

4% Reward points cashback is limited to 1000 points per calendar month (20 reward point per 100 of fuel spent) for fuel and Surcharge waiver is limited to INR 50 per billing cycle.
UPI works seamlessly with this card for all merchant transactions.
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Old 23rd June 2023, 16:35   #6617
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Re: The Credit Card Thread

I signed up for a Bank of Baroda Rupay card to take advantage of UPI transactions, but I ended up receiving a Visa card instead, despite filling out the correct form on their website.

I have now lodged a complaint to switch from Visa to Rupay, and they have asked me to wait for 6 working days for a resolution.

I can see similar incidents above. Is there a bank that I should go with to get a proper RuPay card?
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Old 23rd June 2023, 19:39   #6618
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Re: The Credit Card Thread

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Originally Posted by raptor_diwan View Post
Is there a bank that I should go with to get a proper RuPay card?
I applied for and received a PnB Platinum Rupay credit card through the website I mentioned below. While the process and documentation was a royal pain in the backside, Once it was completed the card delivery and other stuff was pretty seamless.
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Old 23rd June 2023, 22:31   #6619
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Re: The Credit Card Thread

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Originally Posted by dass View Post
I applied for and received a PnB Platinum Rupay credit card through the website I mentioned below.
Yes, in fact, I clicked on the link you mentioned and chose the first card. Since I didn't like the user interface of the PNb website and their portals, I chose Bank of baroda. Unfortunately, I received a visa.

Let's see; they gave me a deadline of five working days. If it doesn't work out, I'll have to move on to another option, but it will definitely affect my credit score.
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Old 23rd June 2023, 22:38   #6620
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Re: The Credit Card Thread

How easy or difficult is it to cancel HDFC Regalia credit card? I will be moving abroad for a few years, and I don’t want to pay the yearly fee for not having sufficient transactions.
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Old 24th June 2023, 00:21   #6621
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Re: The Credit Card Thread

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Originally Posted by pandey.jai View Post
How easy or difficult is it to cancel HDFC Regalia credit card? I will be moving abroad for a few years, and I donít want to pay the yearly fee for not having sufficient transactions.
If you have a few years of history, shoot them a mail and ask them to make it lifetime free without any condition on minimum spend. If they don't, then you can try closing it.
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Old 27th June 2023, 09:53   #6622
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Re: The Credit Card Thread

I want to highlight bad customer practices of ICICI Bank. Due to my high shopping requirements, I got an Amazon Pay credit card. This is where it gets interesting, in my first month, I shopped for around 2.5 lakhs, ICICI Bank didn't credit the amazon pay balance in my account, on inquiry, I was told that my card has been picked up internally for investigation since the usage was high. This is interesting because I had even utilised 1/4th of my credit limit which ICICI Bank gave me.

Said investigation was supposed to get over in 10 business days. You know what they did after 10 days, they decided to classify all my transactions as commercial transactions and unilaterally decided to cancel my card! All this while, there was no communication from ICICI Bank. I have called them so many times and each time after listening to my query, they place my call on hold and then it is disconnected. In all this while, only once I was told that the backend team investigated the matter and decided to classify all the transactions as commercial in nature.

All this has left a really bad impression of ICICI Bank. They were the ones who were chasing me and have decided to take the shield of 'internal policy' when they thought it was appropriate for them without even keeping the client informed about what they are doing! Thinking of pursuing a legal action against them about unfair trade practices. For the record, I would have been okay if they would called and explained the situation and told me why and what they are doing.
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Old 27th June 2023, 10:41   #6623
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Re: The Credit Card Thread

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Originally Posted by raptor_diwan View Post
I have now lodged a complaint to switch from Visa to Rupay, and they have asked me to wait for 6 working days for a resolution.
Got a response stating that conversion is not possible until 1 year has passed, and they asked me to use the card for 1 year before requesting conversion.

I asked them to cancel and close the account. I hope this does not affect my CIBIL score.

Should I immediately apply for another card, or should I wait for a few months before applying for another Rupay card? I feel that this might affect my CIBIL score.
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Old 27th June 2023, 11:13   #6624
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Re: The Credit Card Thread

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Originally Posted by youknowitbetter View Post
I want to highlight bad customer practices of ICICI Bank.

All this has left a really bad impression of ICICI Bank. They were the ones who were chasing me and have decided to take the shield of 'internal policy' when they thought it was appropriate for them without even keeping the client informed about what they are doing! Thinking of pursuing a legal action against them about unfair trade practices.
That is bad customer service and handling. Try escalating it to the RBI Ombudsman with all the right proof. You can even be entitled for an apology and a compensation from the bank through this. Legal action against firms is not a wise / viable action.
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Old 27th June 2023, 11:59   #6625
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Originally Posted by youknowitbetter View Post
on inquiry, I was told that my card has been picked up internally for investigation since the usage was high. This is interesting because I had even utilised 1/4th of my credit limit which ICICI Bank gave me.
That is a ridiculous excuse to not credit the amount to your Amazon Pay account. There was an occasion 3-4 years ago when I ended up using nearly 90% of the card limit in 2-3 transactions in that month on electronic items. The bank(SBI) never questioned me about the high usage for a single transaction nor did they create any fuss in crediting the reward points to my credit card account. I still have that card and use it regularly.

Here you haven't even used 25% of your limit and these ICICI guys are creating a ruckus!!! Clearly they do not want to credit the cash(which is a substantial amount for them) in your Amazon pay account, which is why all this drama of internal investigation. If they do not want anyone to use the card for high value transactions, why are they giving high credit limits?

If 30 days have passed since your first complaint, you can complain to the Banking Ombudsman seeking necessary compensation & relief. If you have all the right documentation and proof( bills, statements & correspondences with the bank), the BO will rule the case in your favour. I had complained against Canara Bank to the Banking Ombudsman for unfairly charging interest charges on a Canara credit card that had been closed long ago, and that they debited from my SB account. Canara Bank had to refund the amount to me(with interest) along with an apology letter after the BO's intervention. I had sought compensation also for this and additional complaint against Canara Bank about that closed credit card , but I let it go after someone said he might lose is job, if I insist on compensation. I withdrew the complain by writing to the BO thanking her for her intervention and that I was satisfied with the remedial action taken by Canara Bank. It is a different matter that Canara Bank is continues to be a terrible bank to deal with.

Good Luck!!

Quote:
Originally Posted by raptor_diwan View Post

I asked them to cancel and close the account. I hope this does not affect my CIBIL score.

I don't think it will affect your CIBIL score adversely. However, as the available credit to you reduces(as you close the credit card), it might drop a few points, but nothing drastic.

I came across the Indianoil credit Card from Axis Bank about a month or so ago. I already had an Axis Bank Flipkart credit card, which I was barely using and I requested for an upgrade to Indianoil card. To which Axis said it cannot be upgraded and that I will have to apply for a fresh card. Expecting that a fresh credit card application to Axis Bank might get declined because of an existing card, I closed the Flipkart card and after confirmation of closure from the bank, I applied for the Axis Indianoil card.

Now comes the weird part. I got a call from Axis Bank the same day that the my application has been provisionally approved and that they will be sending an executive to collect & verify my KYC documents & office/residential address. I asked if it was possible to do a Video KYC like other banks do, to which they replied - it was not possible. Twice I was asked to send my location on whatsapp to the "executive". Two weeks went by, no one came for verification, after which I received an e-mail that my application was declined for the reason - "documents provided by you are insufficient" .

When these Axis Bank fellows had not even come to collect the documents, where was the question of documents not being sufficient? I complained to the bank about it, but no one was bothered. They finally closed the complained giving another pathetic excuse -

We regret to inform you that your credit card application reference number C1-000******-C1 has not been approved due to technical issue not resolve.

What they meant by that, they only know.

To make up for the shortfall in my available credit because of closure of my Axis Credit Card, I applied with three other banks, hoping that one of them would be approved. To my surprise, all three of them got approved with handsome credit limits (SBI Prime, ICICI Platinum Chip & Yes Bank Bankbazaar Finbooster Credit cards). I expect my CIBIL score to shoot up further because of these additional credit limits.

Last edited by Chetan_Rao : 27th June 2023 at 12:46. Reason: Merged consecutive posts.
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Old 27th June 2023, 12:38   #6626
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Re: The Credit Card Thread

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Originally Posted by skanchan95 View Post
To make up for the shortfall in my available credit because of closure of my Axis Credit Card, I applied with three other banks, hoping that one of them would be approved.
As much as possible, avoid opening / closing credit cards frequently. a) there'll a dip in the score due to an enquiry on the credit score when you apply for the card, b) the longevity of your credit account will be low. And both these affect the credit score.
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Old 27th June 2023, 13:04   #6627
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Re: The Credit Card Thread

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Originally Posted by libranof1987 View Post
As much as possible, avoid opening / closing credit cards frequently. a) there'll a dip in the score due to an enquiry on the credit score when you apply for the card, b) the longevity of your credit account will be low. And both these affect the credit score.
The Axis Bank card was just an year old and I was not really using, I needed an Indianoil card specifically because I am ending up filling nearly 4 tank-fulls of petrol every month at a trusted Indianoil petrol bunk nearby. I am aware that closure of old accounts affects the CIBIL score, which is why I am still maintaining two of my oldest credit cards - an SBI card which is 7 years old and a BOB card - which was a Vijaya Bank Credit card originally and is around 10 years old.

The Canara Bank card I had to close in 2021 because those fellows just could not fix usage issues with that credit card....which would randomly get rejected at PoS terminals. The official reason given by Canara bank was that the card was temporarily locked by me on the app - which was a lie and I was able to prove it to them by taking photos and videos of the incidence. They refused to issue a replacement card because as per them, there was nothing wrong with the card or with their systems and they squarely blamed me for the transaction failures. I had no option but to close the card.

Last edited by skanchan95 : 27th June 2023 at 13:33.
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Old 27th June 2023, 13:17   #6628
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Re: The Credit Card Thread

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Originally Posted by tejas08 View Post
Go Ahead with Magnus. You should be able to make at least 7-8% with reward multiplier portals even without hitting the Monthly 1 Lac Milestone bonus.
What are the exclusions in Axis magnus for Rs.1 Lakh monthly milestone rewards program? Utilities, Fuel, Healthcare, Grocery, Jewellery,Rail travel are my primary expenditures.
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Old 27th June 2023, 15:55   #6629
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Re: The Credit Card Thread

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Originally Posted by aadya View Post
What are the exclusions in Axis magnus for Rs.1 Lakh monthly milestone rewards program? Utilities, Fuel, Healthcare, Grocery, Jewellery, Rail travel are my primary expenditures.
Rental, Wallet recharges, EMI transactions & foreign currency transactions are the explicitly mentioned exclusions.
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Old 27th June 2023, 21:04   #6630
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Re: The Credit Card Thread

My Axis Magnus bonus points from March have still not been credited. Not sure what the issue is. Itís June end already. :(
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