Team-BHP > Shifting gears


Reply
  Search this Thread
2,133,519 views
Old 1st July 2022, 17:07   #5506
BHPian
 
Join Date: Feb 2020
Location: New Delhi
Posts: 308
Thanked: 922 Times
Re: The Credit Card Thread

What's the best way to apply for a HDFC Regalia CC. I filled in a firm online and promptly got a call from an alleged HDFC bank customer representative. She asked me to Whatsapp my PAN card Aadhar copy. When I asked her to first share her company ID card, she refused. I have not proceeded with the process.

Is it possible to apply for a HDFC CC at a local branch?
kushagra452 is offline  
Old 1st July 2022, 17:25   #5507
Distinguished - BHPian
 
condor's Avatar
 
Join Date: Jun 2006
Location: Speed-brkr City
Posts: 15,845
Thanked: 15,967 Times
Re: The Credit Card Thread

Guys, can you pls check how much surcharge is there for fuel purchases ?

I know card companies give a credit on the surcharge, but despite the credit, I found I am still paying an additional 2.5%. This is when I compare:

Bill vs charge on CC - credit of the surcharge.

Will check using a debit card next time.
condor is online now  
Old 1st July 2022, 17:50   #5508
BHPian
 
Join Date: Jun 2019
Location: Bengaluru
Posts: 610
Thanked: 1,679 Times
Re: The Credit Card Thread

Quote:
Originally Posted by kushagra452 View Post
What's the best way to apply for a HDFC Regalia CC. I filled in a firm online and promptly got a call from an alleged HDFC bank customer representative. She asked me to Whatsapp my PAN card Aadhar copy. When I asked her to first share her company ID card, she refused. I have not proceeded with the process.

Is it possible to apply for a HDFC CC at a local branch?
Like you are hesitant to share your personal details. Employee will also be hesitant to share details especially company id etc.(she might also think it could be a scammer) I think best way would be to go to the bank and maybe get it done.

Last edited by SideView : 1st July 2022 at 18:11.
SideView is offline   (1) Thanks
Old 1st July 2022, 18:08   #5509
BHPian
 
Join Date: Nov 2007
Location: Pune
Posts: 997
Thanked: 653 Times
Re: The Credit Card Thread

Quote:
Originally Posted by kushagra452 View Post

Is it possible to apply for a HDFC CC at a local branch?
The bank can send an executive to your home to get the form filled and documents collected.

Quote:
Originally Posted by condor View Post
Guys, can you pls check how much surcharge is there for fuel purchases ?
My HDFC card charges 1%+tax. The 1% is reversed the next day but not the tax part.
shipnil is offline   (1) Thanks
Old 1st July 2022, 18:15   #5510
Distinguished - BHPian
 
condor's Avatar
 
Join Date: Jun 2006
Location: Speed-brkr City
Posts: 15,845
Thanked: 15,967 Times
Re: The Credit Card Thread

Quote:
Originally Posted by shipnil View Post
My HDFC card charges 1%+tax. The 1% is reversed the next day but not the tax part.
Card issued by HDFC. But I see a 5% surcharge, and reduced by 2.5.

How much do you fill up for ? I do a typical of 3.2 - 3.9k per fill.
condor is online now  
Old 1st July 2022, 18:22   #5511
BHPian
 
Join Date: Nov 2007
Location: Pune
Posts: 997
Thanked: 653 Times
Re: The Credit Card Thread

Quote:
Originally Posted by condor View Post

How much do you fill up for ? I do a typical of 3.2 - 3.9k per fill.
I usually fill between 2.5k to 3k. Not sure in June if it is revised as the last refill I did was in May and there was not much running in June.
shipnil is offline  
Old 1st July 2022, 18:22   #5512
BHPian
 
Nissan1180's Avatar
 
Join Date: May 2010
Location: .........
Posts: 672
Thanked: 2,161 Times
Re: The Credit Card Thread

I want to share my bad experience with Cred.
I was introduced to the app by a family member, and it seemed like a harmless app. However, I have realised that it can be dangerous for your credit score.
I paid the bill through the iMobile application in May this year. Surprisingly, it did not reflect on Cred and I ignored this because I thought they may need some time to sync the data with the ICICI servers.
This month I checked my credit score on Cred and it had dropped by a few points because it detected that I missed a payment deadline. I reached out to them to correct the error but they do not have a customer care. They only reply to emails, and there’s no live chat option either.

For all its flashy advertisements and pedigreed leadership, Cred has a lag in collecting the payment information from the bank. They keep sending you a message daily to encourage you to pay early because they know that there can be a delay in transferring that amount to the bank.

Using Cred can reduce your credit score without you being responsible for it. Also, they take forever to get rid of your cards. You cannot close the account without waiting for a few days after sending a request to their email ID.

I have realised that these third party payment apps are dangerous, and it is better to deal with the Bank directly. The few hundred rupees of customer acquisition costs Cred spends on inducting a customer is not worth the trouble it can bring if things go wrong.
Nissan1180 is offline  
Old 1st July 2022, 18:35   #5513
BHPian
 
Join Date: Feb 2022
Location: Chennai
Posts: 556
Thanked: 2,731 Times
Re: The Credit Card Thread

Quote:
Originally Posted by condor View Post
Guys, can you pls check how much surcharge is there for fuel purchases ?

I know card companies give a credit on the surcharge, but despite the credit, I found I am still paying an additional 2.5%. This is when I compare:

Bill vs charge on CC - credit of the surcharge.

Will check using a debit card next time.
I think most banks/credit cards charge 1% as fuel surcharge. I guess fuel surcharge has 18% GST on the surcharge value too. For some cards and banks, the waiver is only from their end. This will appear as separate line item in your statement and reversal of surcharge will also be shown. GST will not be reversed by most banks. But if you swipe your CC in other bank POS machine, the acquiring bank can levy surcharge and it may be 2.5%. This will not reflect separately as line item in your statement but included in the main amount and hence there will be difference between charge slip and billed value in statement. This is the reason most banks ask you to use their own POS machine.

In debit cards, surcharge itself is generally lower than 1% and many debit cards like ICICI or HDFC waive off the surcharge itself. They do not provide debit card reward points though. Some like Axis debit card provide the waiver only on Axis machine. I learnt it the hard way few years ago when I forgot my wallet, I swiped my wife's Axis debit card in non axis machine and it had 2.5% surcharge.

Citi debit card is the best as they not only provide surcharge waiver on any machine but give you 2 points worth Rs 2 for every Rs. 150 spent on fuel. So I never bothered about POS machine or other cards for fuel in the last 15 years.
thanixravindran is online now   (1) Thanks
Old 1st July 2022, 18:53   #5514
BHPian
 
Join Date: Apr 2021
Location: Bangalore
Posts: 215
Thanked: 862 Times
Re: The Credit Card Thread

Quote:
Originally Posted by Nissan1180 View Post
I want to share my bad experience with Cred.
I was introduced to the app by a family member, and it seemed like a harmless app. However, I have realised that it can be dangerous for your credit score.
I paid the bill through the iMobile application in May this year. Surprisingly, it did not reflect on Cred and I ignored this because I thought they may need some time to sync the data with the ICICI servers.
Do you really depend on CRED to track your card outstanding or just use it for payments and getting rewards? If its the latter you need not worry about whether CRED reflects the payment or not. Its the bank's confirmation that matters.

Quote:
This month I checked my credit score on Cred and it had dropped by a few points because it detected that I missed a payment deadline. I reached out to them to correct the error but they do not have a customer care. They only reply to emails, and there’s no live chat option either.
CRED does not generate any credit score or even inform the credit bureaus of your payments. It merely collects information from your messages, emails etc., and downloads your credit report from the bureau.

Quote:
For all its flashy advertisements and pedigreed leadership, Cred has a lag in collecting the payment information from the bank. They keep sending you a message daily to encourage you to pay early because they know that there can be a delay in transferring that amount to the bank.

Using Cred can reduce your credit score without you being responsible for it. Also, they take forever to get rid of your cards. You cannot close the account without waiting for a few days after sending a request to their email ID.
As said above cred cannot impact your credit rating. With any 3rd party payment apps, its better to have a 3 day buffer and pay early so that the payment gets reflected in bank's records before due date.

Quote:
I have realised that these third party payment apps are dangerous, and it is better to deal with the Bank directly. The few hundred rupees of customer acquisition costs Cred spends on inducting a customer is not worth the trouble it can bring if things go wrong.
There are inherent risks when you are adding a layer your money passes through between you and the bank. You can take a call based on whether you believe the benefits outweigh the risks.

Personally, I always pay via 3rd party apps like cred, amazon, mobikwik, paytm etc., for the reward points or offers and haven't faced any issues in last 3-4 years.
Everlearner is online now   (5) Thanks
Old 1st July 2022, 20:10   #5515
BHPian
 
Join Date: Mar 2014
Location: Mumbai
Posts: 185
Thanked: 522 Times
Re: The Credit Card Thread

Quote:
Originally Posted by kushagra452 View Post
Is it possible to apply for a HDFC CC at a local branch?
The CC executive normally handles a set of branches but is based at one of those branches. If you visit the branch where the executive is based, you can apply on the spot. At other branches you will have to submit your details and the executive will contact you for completion of the application.
Fx14 is offline   (1) Thanks
Old 2nd July 2022, 01:06   #5516
BHPian
 
Funny's Avatar
 
Join Date: Jun 2014
Location: Bengaluru
Posts: 442
Thanked: 1,235 Times
Re: The Credit Card Thread

Quote:
Originally Posted by Nissan1180 View Post
This month I checked my credit score on Cred and it had dropped by a few points because it detected that I missed a payment deadline.
As Everlearner mentioned above, CRED does not report anything to the credit bureau regarding delayed payments, it's not even authorized to do anything of that sort since that level of authorization lies only with the card issuer. The only scenario where CRED can impact your credit score is when you have taken loan from CRED (Cred Cash) and defaulted on the loan re-payments.
Funny is offline   (1) Thanks
Old 2nd July 2022, 11:08   #5517
Senior - BHPian
 
Join Date: Aug 2010
Location: Delhi
Posts: 2,582
Thanked: 2,726 Times
Re: The Credit Card Thread

Quote:
Originally Posted by condor View Post
Guys, can you pls check how much surcharge is there for fuel purchases ?

I know card companies give a credit on the surcharge, but despite the credit, I found I am still paying an additional 2.5%. This is when I compare:

Bill vs charge on CC - credit of the surcharge.

Will check using a debit card next time.
Amex charges 1% + GST at most petrol pumps, but no charge in Indian Oil COCO pumps - they have a list of pumps where there is no charge.
Aroy is offline  
Old 2nd July 2022, 16:03   #5518
rkg
Senior - BHPian
 
Join Date: Apr 2005
Location: bangalore
Posts: 1,044
Thanked: 593 Times

Quote:
Originally Posted by Aroy View Post
Amex charges 1% + GST at most petrol pumps, but no charge in Indian Oil COCO pumps - they have a list of pumps where there is no charge.
AFAIK, AMEX has no surcharge at HPCL fuel stations. you will be billed exactly for the amount used. No addition of surcharge and reversing it . However there is a limit of 5000/- at a time. Beyond 5000, there will be surcharge even at HPCL
At all other fuel stations AMEX has 3% surcharge

Quote:
Originally Posted by condor View Post
Card issued by HDFC. But I see a 5% surcharge, and reduced by 2.5.

How much do you fill up for ? I do a typical of 3.2 - 3.9k per fill.
Fuel surcharge is @1% for VISA and Master card since few years. Some banks reverse the surcharge and GST also (Standard chartered). Other banks like HDFC reverse only surcharge, but not GST.

But all banks have a range like 500-4000 or 3000 with in that range surcharge is reversed. Above that surcharge is levied.

Last edited by libranof1987 : 3rd July 2022 at 16:46. Reason: Merging back-to-back posts
rkg is offline   (1) Thanks
Old 3rd July 2022, 07:58   #5519
BHPian
 
Join Date: Nov 2004
Location: World
Posts: 123
Thanked: 175 Times
Re: The Credit Card Thread

Quote:
Originally Posted by Everlearner View Post
.....
There are inherent risks when you are adding a layer your money passes through between you and the bank. You can take a call based on whether you believe the benefits outweigh the risks.

Personally, I always pay via 3rd party apps like cred, amazon, mobikwik, paytm etc., for the reward points or offers and haven't faced any issues in last 3-4 years.

There could be other issues involved too! Recently I'd paid my power bill via PayZapp. The routing was:

Bill --> PayZapp --> BBPS --> Axis CC

My power bill was paid in time as expected. However, a few weeks later my Axis CC bill showed an entry for a "Cloth Stores" charge that I did not remember. I was almost at the point of filing a dispute for that unrecognized charge when I decided to dig deeper with the charge amount, and to my surprise, found that the amount and the date matched my power bill payment!

I wonder if there is a loophole that is somehow being exploited by these intermediaries for tax evasion purposes, where they receive money from legitimate sources, and then make the payments from whichever other accounts that suit their purpose!

I have noticed such things at other times too, -- like an online Jio recharge was categorized as a "Moto" store purchase! But that was at least in the same ball park. But "Cloth Stores" for a power bill payment?! At the very least it makes making sense of CC bill entries very difficult indeed.

-- Anyone else noticed such funny accounting?
.
meerkat is offline   (1) Thanks
Old 3rd July 2022, 11:20   #5520
BHPian
 
gupta_chd's Avatar
 
Join Date: Nov 2009
Location: Chandigarh
Posts: 307
Thanked: 390 Times
Re: The Credit Card Thread

Quote:
Originally Posted by rkg View Post
AFAIK, AMEX has no surcharge at HPCL fuel stations. you will be billed exactly for the amount used. No addition of surcharge and reversing it . However there is a limit of 5000/- at a time. Beyond 5000, there will be surcharge even at HPCL
At all other fuel stations AMEX has 3% surcharge
I am always billed with 1% surcharge on any fuel station apart from HPCL which is exempt. Guess you are mistaken about 3% surcharge.
gupta_chd is offline  
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright ©2000 - 2024, Team-BHP.com
Proudly powered by E2E Networks