Credit card for paypal against deposit? help!!!

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techpal said:
How many days it takes to get ICICI ATM/Debit card, cheque book delivered to home after opening/activating new account? Its been 3 days havent received any.And do PIN/Password they send along with Debit card or later?
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They will send thew pin later only due to security reasons.....in my case axis bank sms me the account details after 2 days then on the third day i received cheque book,platinum DC but no pin..... they said it will reach me in a day or two....still no sign of it even after a week lol.

Applied for the pan card yesterday it will take a minimum of 10 days they told me......the day i recieve the pan will deposit the amount in AXIS bank.....the senior manager told me it will take 15 days for the card to arrive so if all goes well i will have my seedbox by the end of this month ;)
 
I am unable to login using user id and password sent by icici. Says invalid password or id. Its new account.Any reason?
 
Is there any credit limit if we buy on EMI from ebay.in using ICICI Instant credit card?Or we can use our total credit limit i.e. 85% credit limit?
 
^ You mean 85% of FD amount? I think you can use your complete credit limit to make the EMI purchase but then your entire credit limit will be exhausted and you won't be able to make any new payments using the card. As you pay the EMIs the credit will be released.
 
Yes then for the first month your entire credit limit will be blocked. Next month once you pay the first EMI, Rs 10000 will be released and so forth for the remaining EMIs.

I think that's when the you call the bank to convert a transaction to EMI and for EMI option provided by the vendor itself I don't think it applies.
 
varkey said:
Yes then for the first month your entire credit limit will be blocked. Next month once you pay the first EMI, Rs 10000 will be released and so forth for the remaining EMIs.

I think that's when the you call the bank to convert a transaction to EMI and for EMI option provided by the vendor itself I don't think it applies.
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Thanks a lot for clearing doubts:).
 
Re: Credit card against FD & EMI

varkey said:
Yes then for the first month your entire credit limit will be blocked. Next month once you pay the first EMI, Rs 10000 will be released and so forth for the remaining EMIs.

I think that's when the you call the bank to convert a transaction to EMI and for EMI option provided by the vendor itself I don't think it applies.
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Varkey- I had few doubts after reading the whole thread and especially your reply. My query was that, I am looking forward to purchase a Samsung Galaxy R from ebay on EMI basis(using the ICICI credit card). Today I have opened a ICICI account. The account should get active by Tuesday, and I will get the instant credit card on basis of a fixed deposit by Thursday. So the question being that, what should be my fixed deposit amount cause the Galaxy R comes to Rs.21,000/- from ebay. So If I have a credit limit of 21000/-(for which the FD will be for about Rs. 26,000/-) will my entire credit limit will be blocked? Or will I only be charged for the EMI(which comes to around Rs.3500/-) on my credit card? :huh:
 
^ Yes, your entire credit limit of Rs 21,000 will be blocked and will be released as and when you make the payments every month. Ie in the next statement there will be a charge of Rs 3500 as the 1st EMI and when you make that payment, there will be an available credit of Rs 3500.
 
Re: Credit card against FD & EMI

jags1987 said:
Varkey- I had few doubts after reading the whole thread and especially your reply. My query was that, I am looking forward to purchase a Samsung Galaxy R from ebay on EMI basis(using the ICICI credit card). Today I have opened a ICICI account. The account should get active by Tuesday, and I will get the instant credit card on basis of a fixed deposit by Thursday. So the question being that, what should be my fixed deposit amount cause the Galaxy R comes to Rs.21,000/- from ebay. So If I have a credit limit of 21000/-(for which the FD will be for about Rs. 26,000/-) will my entire credit limit will be blocked? Or will I only be charged for the EMI(which comes to around Rs.3500/-) on my credit card? :huh:
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if you are doing the fd of rs 26000 your credit limit of the Credit card would be Rs22100 which is 85% on FD your credit of RS21000 will be blocked so the remaining left will be 1100Rs only

Rs3500 will be charged from your credit card in the latest bill of the credit card with the first emi as Rs 3500 + your remaing amount of Rs 1100 will be added once you pay the credit card emi
 
^ Not really necessary. If you make an additional payment of say Rs 5000, your available credit will be increased by Rs 5000.
 
Planning to make a FD for a credit card,can some share me which is the best bank

Coz a few banks are charging annual fees and card fees for credit card

Just checked with sbi

thanx in advance
 
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