Team-BHP - The Credit Card Thread

This has become a very large informative thread. Will share my experiences, apologies if someone has already captured them earlier.
I have two primary cards, one is SBI signature Air India, since 2014. Has 4 points for each rupee spent, 5 lakhs leads to 20 k bonus points and 10 lakh to additional 30 k bonus points. Annual fee is 5k but that gives 5000 points and usually is waived if you spend much. All reward points get converted to Air India miles 1:1. In the past 10 years have paid 8 annual fees for two children and now education abroad for one.
So far, all my personal trips have been covered by this card. Only rarely I would need to travel with other airlines, in case air india is not serving that area. With air India revising points eligibility downwards, it is even more attractive now for big spenders.
The other card which serves my purpose is Indus Vistara Signature card. Now it does not offer Vistara Gold membership but has zero forex Trx fees and that is really helpful with a child abroad. And 2.5 lakh spend gives you a free vistara business class ticket. Worth.

Quote:

Originally Posted by praveen789 (Post 5750887)

Axis Magnus has been severely devalued and they have taken away the Airport Meet and Greet service which was the main reason I had renewed the card in Jan. I called up the helpdesk to tell them that I do not intend to continue with the card without that benefit and if I can get back the annual fees on a pro-rata basis for the rest of the year. She didn't sound like she had much of a clue on this but has initially denied that possibility.

From what I understand, shouldn't credit card companies do the following?

1) Continue with the benefits for the period that it has been paid for.

2) If they do not want to do 1, allow a client to exit and refund the fees on a pro-rata basis.

I am sure some fine print in the agreement will let them get away with this sort of scam, but we will have a bunch of companies doing something similar. Promise the moon, take money and cancel it the next month.

Has anyone successfully managed to get a refund or should I stop chasing with them?

I raised an official email complaint with Axis and after a bit of back and forth where they gave generic responses, they pointed out the relevant clauses in the agreement which 'allows' them to do this scam:

23. Termination
23.1 By the Cardmember: You can terminate this Agreement at any time by returning to us all the Cards, issued for use on the Account, cut in half with a written request to terminate all facilities and benefits hereto associated with the Card. Termination will only be effective when we receive all the Cards including Additional Cards and payment of all amounts outstanding in respect of the Card Account. You can cancel the use of Additional Card by notifying the Bank in writing, but you will remain liable for all charges incurred by use of the Additional Card. No annual fees or other Charges shall be refunded on a pro-rata basis.

29.5 The Bank shall, from time to time be entitled to add to and / or amend all or any of these Terms and Conditions, which shall be communicated in writing to you. You will be bound by such amendments, unless all the outstanding in the Card Account is paid and the Card is returned to the Bank for cancellation, or cut in half before the date upon which any amendment is to have effect.

29.6 The Bank shall, at its sole discretion, add any new or withdraw any existing facility or features available to you under these Terms and Conditions.

Hello,

I used HDFC bank account bill pay to pay my ICICI credit card total amount on the due date 30/3/24. The amount was debited on 30/3/24 and I have the bill receipt which says that the amount was paid on 30/3/24. I understand that it takes 3 working days for the amount to get transferred to the receiving credit card account? However, my ICICI credit card statement says that the amount was credited on 30/3/24. Inspite of this ICICI has charged me late payment fees and on enquiring they are saying that they received the amount on 4/4/24. I can't understand that if my credit card statement says that the amount was credited to my account on the due date (30/3/24), why should I pay late payment charges? Could someone shed light on this matter?

Regards

I recently got the Tata Neu Infinity Rupay card, as an additional card on top of my HDFC Infinia card, mainly for making UPI payments.
But so far, most merchants dont accept UPI payments from credit cards.
So, looks like this card is of not much use.

Only use of this card is 5% cashback through partner stores like bigbasket, croma, tanishq, titan etc. I use bigbasket a bit but not that much, will probably cancel this card after a few months as the first year is free anyways.

Pretty disappointed.

Quote:

Originally Posted by adimicra (Post 5754263)

Only use of this card is 5% cashback through partner stores like bigbasket, croma, .

If you have a premium card like Infinia, then it makes sense to use smartbuy to buy vouchers and then use on bigbasket/croma rather than use the Rupay card.

Frankly, I don't see a business case for Rupay cards if you have other premium card/s. More often than not the typical shop owners have registered their individual bank accounts with the QR codes. In such a case it is treated as a p2p transfer where you cannot use credit cards. The bigger merchants who have the setup for rupay cards are likely to accept visa cards as well.

Quote:

Originally Posted by adimicra (Post 5754263)

But so far, most merchants dont accept UPI payments from credit cards.
So, looks like this card is of not much use.

I am on the fence on getting one Rupay card to be used for all UPI payments and getting the HDFC Rupay card offer. I assumed that you add the card in the UPI apps and whenever you do the UPI transaction, the amount gets automatically charged to the CC. Is this not the case with you? Should I be thinking of other Rupay cards?

Quote:

Originally Posted by Iconoclast (Post 5754348)

I have been using the Tata Neu Infinity Credit Card for the last 8 months. I've very rarely faced problems making UPI payments through it. In the odd case where the payment doesn't go through, it's because the merchant doesn't accept RuPay payments; maybe because he doesn't want to pay the 1-2% MDR.

I did not know that UPI payments can be made with credit card. How does it work? Is your UPI ID the credit card number? Do you open your credit card app to make the payment?

Quote:

Originally Posted by shipnil (Post 5754314)

Thanks, this is what the truth is... If I had known this earlier, I wouldn't have gone for this card. Even I couldn't pay my apartment maintenance fees through the Anacity app using this credit card and choosing the UPI option.
Anyways, I will cancel this after some time, no harm done.

Quote:

Originally Posted by adimicra (Post 5754263)

Only use of this card is 5% cashback through partner stores like bigbasket, croma, tanishq, titan etc. I use bigbasket a bit but not that much, will probably cancel this card after a few months as the first year is free anyways.

The idea behind this card is that you use it through the Neu app thereby taking the total cashback to 10%. But if you don't use the tata stores much and already have Infinia then it's not all that useful.

Personally I have been able to use credit card through UPI at quite a few places, but it's a big loss for merchants (typically higher MDR that normal cards) so pretty certain more of them will keep closing the option.