[century]

Originally Posted by animishticomb

Hello everyone
I am planning to put the car purchase on my credit card. Might range from 12-17L. The dealer is quoting 2% additional charges. Is this the standard or is the dealer taking me for a ride?

Percentage may vary but every credit card swipe on POS terminal incur MDR (Merchant Discount Rate) charges i.e. cost borne by dealer. This cost basically includes bank (HDFC, SBI, Axis, etc) and network (Visa, Mastercard, etc) charges. A swipe of 17L will cost him 34K. If I was a dealer, I would definitely charge.

[sachinayak]

Originally Posted by animishticomb

Hello everyone
I am planning to put the car purchase on my credit card. Might range from 12-17L. The dealer is quoting 2% additional charges. Is this the standard or is the dealer taking me for a ride?

Based on another post a few pages earlier, someone was charged an additional 1% for using the credit card.

Refer this post -
https://www.team-bhp.com/forum/shift...ml#post5886704 (The Credit Card Thread)

[SteeringWheel]

Originally Posted by PaddleShifter

Dear friends, I have a query regarding holding multiple credit cards (read 4), courtesy ICICI bank.

As far as I know, no of cards doesn't really matter. What matters is timely payment. As long as you can manage timely payments, there is no reason for you to worry.

Similar to you, I have multiple cards from ICICI. Beauty of icici cards is there is only one statement combined for all the cards(hdfc generates separate statements for each of the cards which is annoying). So there is no need to worry about tracking multiple card statements with icici.

coming to 30% utilization of your amazon cc, the utilization is calculated using total spends on all your cards against total credit limit of all your cards together. So there's nothing to worry. Correct me if I'm wrong. If credit limit is of all your cards together is 10L and you spend 1L in using all cards in a month, the utilization is only 10%. It is not calculated on per card basis.

[turbospooler]

Originally Posted by CU23

Guys, how to find my Edge miles membership ID of my Axis Atlas card ?

Also how to pay Credit dues before the bill generation ?

TIA

Do you mean the Customer ID required for logging in TravelEdge?
If yes, then send SMS with the text "CustIDCC XXXX" to 5676782, where XXXX is the last four digits of your credit card number.

For early payment, there is a way by sending from UPI by creating this UPI address: CC.91<your 10-digit registered mobile number><last 4 digits of your credit card>@axisbank.

[CU23]

Originally Posted by turbospooler

Do you mean the Customer ID required for logging in TravelEdge?
If yes, then send SMS with the text "CustIDCC XXXX" to 5676782, where XXXX is the last four digits of your credit card number.

For early payment, there is a way by sending from UPI by creating this UPI address: CC.91<your 10-digit registered mobile number><last 4 digits of your credit card>@axisbank.

Thanks !

Actually I am going to redeem it for the first time, it says to “Link member” how do I do that?

[turbospooler]

Originally Posted by CU23

Thanks !

Actually I am going to redeem it for the first time, it says to “Link member” how do I do that?

When you click on the Link Member, just select the Partner from the drop-down menu as seen below.


If you don't have account with the desired partner, create one and then enter the Member ID (or Loyalty programme number or Frequent Flyer number) of that programme and proceed.

[jkrishnakj]

Originally Posted by animishticomb

Hello everyone
I am planning to put the car purchase on my credit card. Might range from 12-17L. The dealer is quoting 2% additional charges. Is this the standard or is the dealer taking me for a ride?

Technically, the dealer should not charge. You can ask the dealer to connect to his merchant bank contact of the bank and ask the bank person to confirm if the charges are legitimate (they aren't)

Whilst the dealer will have to pay the bank, that doesn't mean he can charge to a customer. He has the PoS card machine from the bank because it helps the dealer with more ad hoc or unplanned extra business, that most customers will impulsively buy (accessory or even paying service charges etc). So, technically you should not be charged.

[PaddleShifter]

Originally Posted by SteeringWheel

coming to 30% utilization of your amazon cc, the utilization is calculated using total spends on all your cards against total credit limit of all your cards together. So there's nothing to worry. Correct me if I'm wrong. If credit limit is of all your cards together is 10L and you spend 1L in using all cards in a month, the utilization is only 10%. It is not calculated on per card basis.

Thankyou for the post. A few differences in my case are:

1. I get two statements: one for amazon icici and second for Rubyx Dual combined. The spends on the two Rubyx cards are clubbed together too and MasterCard one is the master card while the other one is more like an add on card (but its not an add on card). Spends on amazon pay icici is kept separate.

2. The credit limit is not a sum of limit of all individual cards. ICICI website states that the card having highest limit is the combined limit of all the ICICI cards but cards with smaller limits can not be used over their respective limit. e.g. If I have 3 ICICI cards with limit of 1 lac, 2 lacs and 4 lacs, the combined limit wont be 7 lacs but just 4 lacs. But I cant swipe cards 1 and 2 beyond 1 lacs and 2 lacs respectively.

3. Thus, for staying below 30%, I have to manage two cards from ICICI individually. This will be clear in a few days once the bill is generated.

[SteeringWheel]

Originally Posted by PaddleShifter

3. Thus, for staying below 30%, I have to manage two cards from ICICI individually. This will be clear in a few days once the bill is generated.

For Cibil, all your spends and credit limits across all your cards from all banks are considered. If one has 5L limit on icici, 3L on sbi, 2L on hdfc and he spends full 2L on hdfc card, it is still only 20% utilization, not 100%.

[Sohail_91]

Originally Posted by animishticomb

Hello everyone
The dealer is quoting 2% additional charges. Is this the standard or is the dealer taking me for a ride?

I paid the booking amount using my credit card and incurred a 1.5% transaction fee.
In my opinion, there is room to negotiate these charges, as another dealer offered a lower fee of 1%.

[tejas08]

Originally Posted by animishticomb

The dealer is quoting 2% additional charges. Is this the standard or is the dealer taking me for a ride?

Negotiate hard. Compare with other dealers.

Originally Posted by Sohail_91

I paid the booking amount using my credit card and incurred a 1.5% transaction fee.
In my opinion, there is room to negotiate these charges, as another dealer offered a lower fee of 1%.

Booking amount should almost always be with zero additional charges. I paid the whole car amount with 1% charges.

[CU23]

Originally Posted by tejas08

Negotiate hard. Compare with other dealers.



Booking amount should almost always be with zero additional charges. I paid the whole car amount with 1% charges.

Just a doubt, so obviously the limit will not cover a car in a single swipe, so we can go for full limit payment and then pay out the card & then go for swipes subsequently right? Should I wait for the next day for the next swipe or I can do it immediately after I pay out the Card? Also is there any maximum limit inside a billing cycle?

[tejas08]

Originally Posted by CU23

Just a doubt, so obviously the limit will not cover a car in a single swipe, so we can go for full limit payment and then pay out the card & then go for swipes subsequently right? Should I wait for the next day for the next swipe or I can do it immediately after I pay out the Card? Also is there any maximum limit inside a billing cycle?

U cannot repay and use the card on the same day. It will have to be done on the next day as a minimum. Different card issuers may have different T&Cs.

[Ragavsr]

Originally Posted by jkrishnakj

Technically, the dealer should not charge. You can ask the dealer to connect to his merchant bank contact of the bank and ask the bank person to confirm if the charges are legitimate (they aren't)

There is nothing illegitimate about the extra charges. They are perfectly legal, that is why a lot of government bodies like irctc, EB boards, any central govt job application, insurers all charge extra for card payment. There are rbi guidelines that prevent this, those are just guidelines that all banks violate day in and day out.

While the agreement between the terminal providing bank and merchant may prohibit such charges , the merchant has no obligation to provide a bank contact number. He may simply change the accepted modes of payment in the booking form and refuse the accept the mode of payment. This is what I would do if I were to be a dealer. And banks have no incentive to piss off their merchants.

[Aroy]

Most merchants charge extra for high value purchases. The charges vary between 0.5% and 3% depending on the merchant and his relationship with the issuing bank.

When ever I bought high value items, I would ask the merchant to contact the bank and get charge reduced. This works and in general the charges reduce to 1% and at time 0.5%. So you should always contact the card issuer and get the charges reduced.