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Old 1st August 2023, 09:35   #6811
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Re: The Credit Card Thread

My HDFC Credit Card is being used for first time out of India. In my statement I noticed additional 1% charges as DCC. I googled about it, but I am still confused. Can someone help me to understand what are these charges for? I was only expecting Markup Charges.

Thanks!
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Old 1st August 2023, 11:18   #6812
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Re: The Credit Card Thread

Quote:
Originally Posted by VaibhaoT View Post
My HDFC Credit Card is being used for first time out of India. In my statement I noticed additional 1% charges as DCC.
When you swipe your card at an international PoS terminal (signature/PIN whatever), always choose the local currency (e.g. USD, GBP etc.) instead of choosing the INR option. This will immediately avoid the 1% DCC charges.
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Old 1st August 2023, 12:27   #6813
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Re: The Credit Card Thread

Quote:
Originally Posted by itwasntme View Post
When you swipe your card at an international PoS terminal (signature/PIN whatever), always choose the local currency (e.g. USD, GBP etc.) instead of choosing the INR option. This will immediately avoid the 1% DCC charges.
My wife is using addon card. Turns out that she chose INR instead of Euro for couple of transactions. When INR was selected as currency, rate was ~95 INR/Euro (inclusive of DCC). When Euro was chosen, we got rate of ~93 INR/Euro (inclusive of markup fees).
I was not even aware that machine can give option to chose currency. But yes, choosing local currency is better option than INR.
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Old 1st August 2023, 15:17   #6814
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Re: The Credit Card Thread

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Originally Posted by aseem23 View Post
Thanks, guys. I checked with the Merc dealership, and they are willing to accept full payment via card. Up to 10lakhs without any transaction fee, on the pending amount they will charge 2% as swipe charges, but I will get around 4.5%-5% return from AMEX Centurion in the form of discounts, points, and Taj Vouchers.

Waiting for the car launch, and will keep posted.
Hello

If you are going to use Amex Centurion, ask your RM to negotiate with the dealership. They will reduce further. A person known to me negotiated to 0.5% when he was buying his S Class from a Lucknow dealership. Though, some time has passed since he made the purchase.


Quote:
Originally Posted by VaibhaoT View Post
My wife is using addon card. Turns out that she chose INR instead of Euro for couple of transactions.
Unfortunately, you won't get the 1% cashback in this scenario if you have enrolled in Global Value Program.

Last edited by turbospooler : 1st August 2023 at 15:26. Reason: Added another response here
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Old 1st August 2023, 19:15   #6815
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Re: The Credit Card Thread

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Originally Posted by navigator_ravi View Post
Seems you are into the cashback game of CC, I suggest you should have following cards :
1. HDFC millenia (5% cashback on most online spends)
2. Axis Ace (2% cashback on offline spends, 5% on untility through gpay)
3. SBI cashback (if you dont get option 1:
Why is HDFC Millenia rated higher by you than SBI Cashback? SBI is a far superior card. The Milennia has a very low limit on cashback per month.
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Old 1st August 2023, 21:30   #6816
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Re: The Credit Card Thread

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Originally Posted by Lobogris View Post
Why is HDFC Millenia rated higher by you than SBI Cashback? SBI is a far superior card. The Milennia has a very low limit on cashback per month.
The OP has a salary account with HDFC, so Millenia is most probably pre-approved LTF for him. Also cashback received depends on the MCC of the transaction. On SBI, chances are that 5% cashback are not received due to devaluation post 1st May. For eg:

1. Buying flight ticket from MMT/Yatra/Paytm but getting no cashback as these merchants are registered under "Railways" category.

2. Buying on Amazon/Flipkart but getting no cashback due to wrong MCC of gift merchants.

The CC forums are full of these complaints. Millenia somewhat counters the above problems through the smartbuy platform.

FYI, I hold SBI cashback and not Millenia

Last edited by Axe77 : 1st August 2023 at 21:37. Reason: Minor formatting and a typo.
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Old 1st August 2023, 22:08   #6817
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Re: The Credit Card Thread

Quote:
Originally Posted by VaibhaoT View Post
My wife is using addon card. Turns out that she chose INR instead of Euro for couple of transactions. When INR was selected as currency, rate was ~95 INR/Euro (inclusive of DCC). When Euro was chosen, we got rate of ~93 INR/Euro (inclusive of markup fees).
I was not even aware that machine can give option to chose currency. But yes, choosing local currency is better option than INR.
Normally, if you select INR, they will charge a markup of 3.5 - 4%, though premium cards like HDFC Infinia charge 2% markup.
Always safer to choose local currency.
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Old 2nd August 2023, 10:56   #6818
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Re: The Credit Card Thread

Any suggestions on platforms to pay rent through credit card? This is more to ensure I complete the spending limit and avoid paying annual charges.

I did search for options and found Red Giraffe to be lowest in terms of convenience fee. Any Pros and Cons of this platform?

Apart from the credit card points, are there any other rewards offered by any of these platforms and are they of genuine use?
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Old 2nd August 2023, 12:45   #6819
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Re: The Credit Card Thread

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Originally Posted by turbospooler View Post
Hello
If you are going to use Amex Centurion, ask your RM to negotiate with the dealership. They will reduce further. A person known to me negotiated to 0.5% when he was buying his S Class from a Lucknow dealership. Though, some time has passed since he made the purchase.
Hello, Thank you for letting me know. I got in touch with the RM, and he is further enquiring with the dealerships. Unfortunately, the nearest dealership to my home is not accepting AMEX, but my RM is in touch with other dealerships for negotiations and getting the car delivered. I will have more clarity once the car is launched next week, and I know the exact prices.
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Old 2nd August 2023, 12:51   #6820
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Re: The Credit Card Thread

Review my Credit Card Portfolio

Hi,

I have been a long time user of Credit cards and I am just looking for suggestions here if I have any better options than what I carry now -



First up, my household expenses (per month) -

Petrol 5-7K

Groceries 5-10K (partly offline partly online like Instamart, Bigbasket etc)

Online food delivery 3-5K

Eating out 1-5K (depends where am going and with how many folks, but still use cases is less)

Online shopping 3-7K

Movies 1-2K (that too not frequent but when I book it is from Bookmyshow)



Now, my cards:

Axis Ace Card: Has been my primary card for offline transactions. Gave good cashback then changed terms and got capped recently but still gives 2% returns in offline transactions. I have not found a better card in that particular regard.

HDFC Millenia: Using mainly for cashbacks in Swiggy/Zomato (5%).

Kotak IOCL Rupay Card: This is a new card I have got since I am planning to use IOCL petrol pumps going forward. It gives about 4% returns. Plus it is a Rupay card so I can also use this for UPI transactions and earn some points for those as well.

ICICI Amazon pay (Wife's card) - We do most of our online shopping in Amazon only and this helps there.

Recently closed my Axis Flipkart card as we dont shop in Flipkart anymore because am reading a lot of service issues about them. So the annual fee didnt seem justified.

I am also thinking about the new Swiggy HDFC card but not sure. Feel Zomato service/cost is better but Swiggy is giving better returns (albeit as Swiggy Money only).

I believe I will be eligible for most high value CCs as well but not sure if my use case warrants any other card. I dont have much use for benefits like Lounge access, golf membership etc
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Old 2nd August 2023, 15:00   #6821
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Re: The Credit Card Thread

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Originally Posted by sen2693 View Post
Review my Credit Card Portfolio

Hi,

I have been a long time user of Credit cards and I am just looking for suggestions here if I have any better options than what I carry now -
Hello

I see your portfolio is missing SBI Cashback card which will be useful for getting 5% cashback on most online shopping categories upto ₹5000 per month.

For fuel, you can check Standard Chartered Super Value Titanium as it is fuel bunk agnostic.

For groceries, do get a HDFC Tata Neu Infinity Rupay variant for 5% return on BigBasket as well as having a Rupay card for UPI.

For BookMyShow, if you are an alumni of prestigious institutes, ICICI was giving Life Time Free cards of Sapphiro till last month. You will have to check if the offer still holds. Plus, if your employer is listed with AU bank, you can potentially get LTF variant of Zenith sorting all your BMS needs

Zenith will also help in eating out as it offers 5% reward rate. Unfortunately, they have started levying reward redemption fee, but that is manageable.

Last edited by turbospooler : 2nd August 2023 at 15:03.
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Old 2nd August 2023, 15:32   #6822
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Re: The Credit Card Thread

Quote:
Originally Posted by turbospooler View Post
Hello

I see your portfolio is missing SBI Cashback card which will be useful for getting 5% cashback on most online shopping categories upto ₹5000 per month.

For fuel, you can check Standard Chartered Super Value Titanium as it is fuel bunk agnostic.

For groceries, do get a HDFC Tata Neu Infinity Rupay variant for 5% return on BigBasket as well as having a Rupay card for UPI.

For BookMyShow, if you are an alumni of prestigious institutes, ICICI was giving Life Time Free cards of Sapphiro till last month. You will have to check if the offer still holds. Plus, if your employer is listed with AU bank, you can potentially get LTF variant of Zenith sorting all your BMS needs

Zenith will also help in eating out as it offers 5% reward rate. Unfortunately, they have started levying reward redemption fee, but that is manageable.
Thanks for the suggestions! Will definitely look into them

I did not go for the SC Titanium card becuase the fuel bill needs to be less than 2000 rupees, whereas in my case it is mostly higher.
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Old 2nd August 2023, 18:08   #6823
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Re: The Credit Card Thread

The Axis My Zone credit card has got devalued.

Previously -
40% off upto ₹120 on Swiggy on a minimum transaction of ₹200 (four times a month).

Now -
₹120 off on Swiggy on a minimum transaction of ₹500 (twice a month).

First Magnus, now My Zone.
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Old 2nd August 2023, 18:16   #6824
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Re: The Credit Card Thread

How to get a low credit limit credit card for my 19 year old? He currently uses my add-ons but I was wondering if he can get his own. No income as of now but banks with HDFCB.
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Old 2nd August 2023, 18:48   #6825
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Re: The Credit Card Thread

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Originally Posted by itwasntme View Post
How to get a low credit limit credit card for my 19 year old? He currently uses my add-ons but I was wondering if he can get his own. No income as of now but banks with HDFCB.
I had done an FD for 20k in my wife's ICICI account and she got a credit card with a limit of 16k. You can try the same approach.
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