Card companies are back to square one
For several months, card companies had stopped levying fuel surcharge or were automatically refunding them after charging. For example on HDFC CC statement, it would show fuel purchase - 1010 Rs when i refueled for 1000 Rs only. But there would be a separate credit of 10 Rs. However, of late in the last two months, I noticed that every single fuel purchase is above what was refueled. What is the use of the .75% cashback to consumers if they have to pay so much for fuel purchase? I often refuel for small sums like 300 Rs because the car remains parked in the sun and I don't drive to work. I just noticed recently that every single transaction shows Rs 311 debit. more
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Are wah! what an observation Mr Krishnan. However, our bank account activity shows only the amount credited on petrol consumption, without indicating the total amount of petrol purchase. more
Dec 11
govt is saying to use digital money when i use my debit card to fill cng in my car, bank charged me on every transection Rs. 11.8. then how can govt. say that the digital money is cheaper than cash. more
Dec 11
Such charging of transaction fee for making payments through cards is not only prevailing in credit cards but also debit cards as well as internet banking. Charging of fee atleast through usage of debit cards and internet banking is highly unfair trade practices as the banks should pass on the benefits of cost reduction in such mode of payments. Instead of passing on the benefit of reduced cost of operational, the banks are charging fee which need to be condemned being highly unprofessional. The only remedy could be possible by restricting the payments through such modes and use cash payments. more
Dec 11
Transaction charges are being charged to you by the Government departments, railways, bank, petrol pumps etc. These guys are recovering the transaction charges from customers instead of bearing this cost themselves.
So remedy lies with all those merchants (government agencies) who should stop levying these charges on the customers. more
So remedy lies with all those merchants (government agencies) who should stop levying these charges on the customers. more
Dec 12
1. Credit card companies levie a standard 36% per annum interest. These are too expensive. It's better to use debit cards. Hence 0.75% or a mere Rs 10 cash back makes no difference. 2. They have anti social elements for collecting dues. They get into many mal practices including harassment of the ordinary customers.. My only suggestion is not to get carried away by the colourfully presented frivolous matters. But get real. more
Dec 11
Someone has misled you on credit card risks:
a) In case you pay all the dues by the payby date, no interest is charged.
b) Actually your money remains with you even though you have spent it. You earn interest on your money in your bank account.
c) .75% cash back is available on all cashless transactions.
d) Risk of your saving bank account wiped out by using debit card is too high. Bank will not credit the money, will block your account making other transactions difficult. Whereas blocking of credit card will not disadvantage you in any way. more
a) In case you pay all the dues by the payby date, no interest is charged.
b) Actually your money remains with you even though you have spent it. You earn interest on your money in your bank account.
c) .75% cash back is available on all cashless transactions.
d) Risk of your saving bank account wiped out by using debit card is too high. Bank will not credit the money, will block your account making other transactions difficult. Whereas blocking of credit card will not disadvantage you in any way. more
Dec 11
You are talking of two different issues. Card companies are refunding the fuel surcharge in case the fuel is bought with a co-branded card and swiped on the machine issued by the card issuing bank. This is continuing. .75% refund is by the oil companies to encourage cashless transactions. more
Dec 11
