"Do you have XYZ Credit Card?" Thread

[solo_wing]

I have bought in the past with no cost EMI. Basically the billed amount will the (15657 - interest). The total EMI will be (approx 5000 + interest) = 5219. The only hidden charges are the 199 processing fee. So in the end the total amount going from the card holder's wallet will be 15657+199.

For example I recently bought Pixel Buds Pro from flipkart which would have cost me 8999 with full payment. Looking at my card statement of the next three months, I was ji charged....

Month	Charge
Dec	199
Dec	2898.85
Dec	113.58
Jan	2937.5
Jan	78.85
Feb	2976.65
Feb	39.68

As you can see, every month the EMI+interest is 3000, which is what I would have paid if I went with full payment.

You are missing my point here buddy....so you got no benefit right...you end up paying same Rs 8999 plus Rs 200...your actual amount is Rs 9256.

15,893 ,will be your total cost with no cost emi including processing fee

How are you getting this amount ?
Look at this

Btw I was wrong about the Emi and interest seperately.
But my point still the same.
There is no actual discount just something that Amazon No cost emi is covering bank interest for you.


Edit: my bad....he posted non amazon icici card. I didnt realize that. so non icici card has more discount.

 

[roadrash99]

You are missing my point here buddy....so you got no benefit right...you end up paying same Rs 8999 plus Rs 200...your actual amount is Rs 9256.



How are you getting this amount ?
Look at this

Btw I was wrong about the Emi and interest seperately.
But my point still the same.
There is no actual discount just something that Amazon No cost emi is covering bank interest for you.

It depends on the offer, you have to be careful. Sometimes the discount is higher on EMI transactions, like here amazon is giving 2500 on EMI and 2250 on full, but processing fees makes up for the difference so doesn't make sense.

In my case though the discount was only there on EMI transactions (I was wrong in my earlier comment). It actually would have cost me 9999 for full payment, that's why I went with EMI.

 

[samiryadav]

I have bought in the past with no cost EMI. Basically the billed amount will the (15657 - interest). The total EMI will be (approx 5000 + interest) = 5219. The only hidden charges are the 199 processing fee. So in the end the total amount going from the card holder's wallet will be 15657+199.

For example I recently bought Pixel Buds Pro from flipkart which would have cost me 9999 with full payment but there was a 1k discount on EMI. Looking at my card statement of the next three months, I was charged....

Month	Charge
Dec	199
Dec	2898.85
Dec	113.58
Jan	2937.5
Jan	78.85
Feb	2976.65
Feb	39.68

As you can see, every month the EMI+interest is 3000, which is what I would have paid if I went with full payment.

The amount that you will bay back to bank:-

15248.83 +
408.17 x 1.18 (18 percent GST on Interest) +
199 x 1.18 (18 percent GST on Processing fees.

TOTAL : - 15248.83 + 481.64 + 234.82 = 15965.29 INR

Also, price keeps changing.No one can accomodate every price change.
Once you place an order (at best price) try to keep it if there is not much price difference.
Order cancellation and EMI are at discretion of card holder.

All you can ask for is INSTANT Discount.(ON ONE TIME PAYMENT OPTION . NOT THE EMI ONE.)

Card holder can do EMI transactions at his discretion and pass on to you only the INSTANT discount availabe for ONE TIME PAYMENT.
i always try to go for EMI transactions to spread out spending on Credit card so that monthly bill dosen't exceed certain amount.
I pass on the maximum discount possible OR the discount equivalent to ONE TIME PAYMENT discount offered.

 

[roadrash99]

Card holder can do EMI transactions at his discretion and pass on to you only the INSTANT discount availabe for ONE TIME PAYMENT.
i always try to go for EMI transactions to spread out spending on Credit card so that monthly bill dosen't exceed certain amount.
I pass on the maximum discount possible OR the discount equivalent to ONE TIME PAYMENT discount offered.

Actually they would be losing money if they transferred the instant discount. In the above example the (Price-Inst. discount) is 15657. But like you showed they will be charged 15965.

 

[samiryadav]

Actually they would be losing money if they transferred the instant discount. In the above example the (Price-Inst. discount) is 15657. But like you showed they will be charged 15965.

INSTANT DISCOUNT ON ONE TIME PAYMENT.not the EMI payment Instant discount.
that is 10 % or the 1500 /1800 / max 2000 that is generally offered.
EMI instant discount is always more than than One time payment discount.

But it is at cardholder's discretion if he is willing to pass on the additional discount after adjusting for fees and GST.

All you can ask for is INSTANT DISCOUNT AVAILABLE on one TIME PAYMENT OPTION even if the card holder goes for EMI option and earns more discount.

 

[roadrash99]

INSTANT DISCOUNT ON ONE TIME PAYMENT.not the EMI payment Instant discount.
that is 10 % or the 1500 /1800 / max 2000 that is generally offered.
EMI instant discount is always more than than One time payment discount.

But it is at cardholder's discretion if he is willing to pass on the additional discount after adjusting for fees and GST.

All you can ask for is INSTANT DISCOUNT AVAILABLE on one TIME PAYMENT OPTION even if the card holder goes for EMI option and earns more discount.

yeah this is generally true, but these days we are seeing sales with discounts only on EMI option, and no discount on full payment. But yeah I agree with all of this. We were originally talking about different cards with different instant discounts (ICICI vs Amazon ICICI), not EMI vs full payment.

 

[solo_wing]

Need bit of help here. Dont know which place to ask here or flipkart thread but since mostly related to cc...asking here.
So i had ordered Sony Headphone from Flipkart with SBI No cost EMI.
I cancelled the order within an hour.

Now flipkart has made the No cost discounted refund but will SBI charge me processing fees and and other EMI interest?

Since this order was closed.

 

[ikkhan]

Need bit of help here. Dont know which place to ask here or flipkart thread but since mostly related to cc...asking here.
So i had ordered Sony Headphone from Flipkart with SBI No cost EMI.
I cancelled the order within an hour.

Now flipkart has made the No cost discounted refund but will SBI charge me processing fees and and other EMI interest?

Since this order was closed.

No, the processing fee will be reversed, and since you have cancelled it within a day i don't think your emi conversion is even complete

 

[Alucard1729]

Now flipkart has made the No cost discounted refund but will SBI charge me processing fees and and other EMI interest?

I remember getting charged for similar purchase that was canceled by me. Its was during republic day sale on Amazon SBI no-cost emi for 3 months. Interest payment was asked.
Talk with your branch to get better clarification.

 

[samiryadav]

Need bit of help here. Dont know which place to ask here or flipkart thread but since mostly related to cc...asking here.
So i had ordered Sony Headphone from Flipkart with SBI No cost EMI.
I cancelled the order within an hour.

Now flipkart has made the No cost discounted refund but will SBI charge me processing fees and and other EMI interest?

Since this order was closed.

No, i have cancelled orders on almost all bank cards, if order is cancelled , you will not be charged anything. In case they charge it, call the customer care and explain them that order is cancelled so EMI shall be cancelled as well without any charges.You can always dispute the charge.

 

[solo_wing]

No, i have cancelled orders on almost all bank cards, if order is cancelled , you will not be charged anything. In case they charge it, call the customer care and explain them that order is cancelled so EMI shall be cancelled as well without any charges.You can always dispute the charge.

Great. Thanks.

I remember getting charged for similar purchase that was canceled by me. Its was during republic day sale on Amazon SBI no-cost emi for 3 months. Interest payment was asked.
Talk with your branch to get better clarification.

I will still call them and see if its closed. thanks.

 

[DEVRAJ BARIA]

No, i have cancelled orders on almost all bank cards, if order is cancelled , you will not be charged anything. In case they charge it, call the customer care and explain them that order is cancelled so EMI shall be cancelled as well without any charges.You can always dispute the charge.

Ok...this might be true for almost all cards as i have many CC but not for IDFC credit cards. IDFC had/has never cancelled EMI even if the refund is provided by Amazon/Flipkart or any other retailer you ask.

I have learned it in very hard way. So once you order with EMI option on any site and then after 1 minute you cancel it, they will still keep your EMI active. All EMI related charges should be cancelled/ transferred back if the cancellation is after some days but NO... IDFC doesn't cancel it.
They will keep converting emi, levy you processing fee/other charges.

Now, what's the way to get out of emi you ask.
You will have to call them and explain. They will tell you to 'foreclose' (not forceclose') emi and pay foreclosure fee. I paid more foreclosure fee more than the interest should have costed me.

I had to close my IDFC card due to this. I argued, called them, wrote emails. Got same answer. They don't just cancel the emi. I told them to close my card, and they did immediately.

 

[samiryadav]

Ok...this might be true for almost all cards as i have many CC but not for IDFC credit cards. IDFC had/has never cancelled EMI even if the refund is provided by Amazon/Flipkart or any other retailer you ask.

I have learned it in very hard way. So once you order with EMI option on any site and then after 1 minute you cancel it, they will still keep your EMI active. All EMI related charges should be cancelled/ transferred back if the cancellation is after some days but NO... IDFC doesn't cancel it.
They will keep converting emi, levy you processing fee/other charges.

Now, what's the way to get out of emi you ask.
You will have to call them and explain. They will tell you to 'foreclose' (not forceclose') emi and pay foreclosure fee. I paid more foreclosure fee more than the interest should have costed me.

I had to close my IDFC card due to this. I argued, called them, wrote emails. Got same answer. They don't just cancel the emi. I told them to close my card, and they did immediately.

Thanks for the info.i will keep this in mind.
Usually banks reversee all charges when you inform them within 30 days.
Kotak Explicitly asks to contact customer care to cancel the EMI if it is already converted and order is cancelled afterwards.

 

[PixelDew]

Has anyone done the math on HDFC millennia vs HDFC swiggy for cashback?

Millennia gives 5% back on many online sites including swiggy as actual cashback towards your card.
HDFC swiggy has 10% cashback but it added as swiggy wallet credit so it can't be used again for a further 10%.

Over time would the millennia save more since the cashback can be reused compared to the HDFC swiggy card?

Also is there a better card than the millennia for online shopping on sites like Amazon, swiggy, zomato, Myntra, etc? And do any of the cashback cards support steam lol

 

[ikkhan]

Has anyone done the math on HDFC millennia vs HDFC swiggy for cashback?

Millennia gives 5% back on many online sites including swiggy as actual cashback towards your card.
HDFC swiggy has 10% cashback but it added as swiggy wallet credit so it can't be used again for a further 10%.

Over time would the millennia save more since the cashback can be reused compared to the HDFC swiggy card?

Also is there a better card than the millennia for online shopping on sites like Amazon, swiggy, zomato, Myntra, etc? And do any of the cashback cards support steam lol

Sbi cashback is much better than both millennia and swiggy money

 

[Slayer69]

Has anyone done the math on HDFC millennia vs HDFC swiggy for cashback?

Millennia gives 5% back on many online sites including swiggy as actual cashback towards your card.
HDFC swiggy has 10% cashback but it added as swiggy wallet credit so it can't be used again for a further 10%.

Over time would the millennia save more since the cashback can be reused compared to the HDFC swiggy card?

Also is there a better card than the millennia for online shopping on sites like Amazon, swiggy, zomato, Myntra, etc? And do any of the cashback cards support steam lol

HDFC Milennia is still mid compared to SBI Cashback, also why are you stuck on getting cards from ChorDFC

 

[PixelDew]

HDFC Milennia is still mid compared to SBI Cashback, also why are you stuck on getting cards from ChorDFC

The SBI seems better, might try to get that.
What's wrong with HDFC?

 

[guest_999]

HDFC Milennia is still mid compared to SBI Cashback, also why are you stuck on getting cards from ChorDFC

Correct but sbi credit card customer support is the worst among all major credit cards not to mention sbi cashback card is excluded from all 10% instant discount sbi card offers unless that offer is exclusively from merchant's side with no involvement of sbi card. I mostly use my sbi cc only for 10% sale offers while majority of my ecomm purchases are from amazon for which I already have apay 5% unlimited cb.

 

[Slayer69]

Correct but sbi credit card customer support is the worst among all major credit cards

True but never had to interact with them for anything not even for crediting of correct cashback which is a big problem with cards from ChorDFC and Axshit

sbi cashback card is excluded from all 10% instant discount sbi card offers unless that offer is exclusively from merchant's side with no involvement of sbi card.

Ask for help from other members of TE, friends or family? Have helped multiple people here with CCs

 

[guest_999]

True but never had to interact with them for anything not even for crediting of correct cashback

Then you are very lucky because there are hundreds of posts of ppl complaining about cb/RPs being forfeited on sbi credit cards on TF/DD/reddit. In any case, most ppl use CC for instant discount & 5% unlimited cb on apay/fk cards & there it works almost perfectly. SBI cashback card also has a long list of "exclusions" so you can never be sure if the payment gateway you used for some online txn is not falling under one of those "exclusions" unless it is clearly an ecomm site like croma/cliq/reliance digital etc.

Ask for help from other members of TE, friends or family? Have helped multiple people here with CCs

I already have major banks cards for my own shopping & I also sometimes help friends/relatives.