Getting a Credit Card

[bloredude]

Exactly - Credit card is not immune to frauds but liability on the user is very less compared to DC as I've explained in my incident.

On the clicking a link for payment fraud - we are investigating this. Police complaint has been filed and we suspect involvement of couple of courier boys - it's a long developing story.

And yes, these are from my personal/family member recent experiences. And I'm happy for your personal experience and hope it remains same without any incidents.

Thanks for good wishes. I do hope and wish you get your money back.

Both CC and DC require their own set of good practices. Whatever one uses, should know about good practices relating that instrument.

I hope OP has enough data-points by now to be able to make an informed decision.

 

[Love4sound]

i have been tempted to get a HdFC Credit card for a simple reason which are the cashbacks and schemes available with this both online and offline.Since i haven't bought anything on credit or ever taken a loan , wanted to run this by people who have been using it regularly . Since this isgoing to be my first card , which one should it be and any suggestion or advice

I have been using Hdfc credit card for 7 years. Hdfc CC offers good benefits. As you have mentioned that you are some one who doesn’t buy anything on credit or take a loan you can just use the CC like using a debit card and make use of the benefits from CC. For example if you have a habit of spending 50% from your income and save the remaining 50%, just make sure that you utilise the credit card in a manner that your monthly expense using the cc doesn’t cross 40% of your income. I started following this practice from last year since I have also decided to never buy anything in credit, loans or emi (excluding a car or a home). Working good so far and for the first 5 years my cc management was poor and with this practice for just a year I am seeing great results on my balance.

 

[Lizard King]

The OP, meanwhile hasn't come back to this thread. He hasn't been on the forum after posting

 

[Chulbulee]

I use netbanking for paying only utility bills

I wonder why? For the last decade, I have instructed my bank to pay all my utility bills and lead a tension free life.

In fact you can avail a direct debit option as well where the CC value is directly debited from your linked savings account. hence practically that makes it a Debit card with a longer credit period and more rewards.

When the money is debited from savings account, what's the meaning "... makes it a debit card with a longer credit period" ? Please explain a bit

A few years ago, I had to pay $12.99 online and the moment I clicked the "Pay Now" button, the payment was cleared but instantly another bill came up with $2398 (I read that the click holds valid for a few seconds), but it was denied. I thanked my stars as my VCC was only for $15.

I wonder why no one either uses a VCC or even talks about it. Though the concept is old, only a couple of banks offer the same. HDFC was one of the two but it closed soon. Even if one notes the number or CVV, the card is dead instantly and you are saved. Anyone used it?

 

[arj]

When the money is debited from savings account, what's the meaning "... makes it a debit card with a longer credit period" ? Please explain a bit

What I meant to say was the credit card bill value can be set to be auto debited from your account. Combine that with being able to limit the transaction value as well as the monthly limit and you get the advantages what folks have been talking about the debit card. only difference that in the debit its instantly debited from your account at the time of transaction while in the credit card its only after 30/45etc days

 

[drkrack]

If you are Financially Disciplined ; Financially Literate, And you have double The (CC Limit) Amount in Your Bank Balance as Emergency Fund; CREDIT CARDS Are amazing instruments to spend and Earn Rewards. Failing which is an absolute financial disaster. But financial indiscipline can be disastrous to any borrowing for that matter.

PS: I have 3 CCs with more than 5L in Limit over last 15 years and haven't paid any penalties anytime, I always buy the ones with annual fee rather than free ones, because of the benefits, and make sure that I spend a decent amount to waive off annual fees.

 

[Nitin K]

I wonder why? For the last decade, I have instructed my bank to pay all my utility bills and lead a tension free life.

Although I have opted for net banking for paying my utility bills but I have seen to it that it is not set on auto pay. Sometimes an error is possible which could lead to an escalation in the bill amt & it will be directly deducted from your account without your knowledge eg. there are instances in newspapers where the electric bill has run into an insane amount without the consumer actually using it. The main reason for me here is that I get a sms reminder from HDFC for payment of bills so that I don't forget.
If you can remember to pay your bills on time without any reminder, then a credit card would be better as you will get more reward points on a monthly basis which you can redeem later.

 

[tapmal5]

w

I have been using Hdfc credit card for 7 years. Hdfc CC offers good benefits. As you have mentioned that you are some one who doesn’t buy anything on credit or take a loan you can just use the CC like using a debit card and make use of the benefits from CC. For example if you have a habit of spending 50% from your income and save the remaining 50%, just make sure that you utilise the credit card in a manner that your monthly expense using the cc doesn’t cross 40% of your income. I started following this practice from last year since I have also decided to never buy anything in credit, loans or emi (excluding a car or a home). Working good so far and for the first 5 years my cc management was poor and with this practice for just a year I am seeing great results on my balance.

which Hdfc CC would you suggest for starters and mostly for electronic stuff online cashback and no interest emi etc both online and offline

The OP, meanwhile hasn't come back to this thread. He hasn't been on the forum after posting

was caught up somewhere, but was checking replies

 

[Love4sound]

w

which Hdfc CC would you suggest for starters and mostly for electronic stuff online cashback and no interest emi etc both online and offline

Well you can check in HDFC site credit card sections that has all the details on the benefits of each cards. I think all credit cards can be used for no interest emi. In Flipkart and amazon for some purchase you won’t be able to used HDFC credit card for no cost emi. As shown in image you have all the category and you can click on each category to list the benifits. For example I have shared regalia which is the card I use.

 

[arj]

Sad to see such a mob behavior being actively supported here including by key figures that are expected to promote hygienic discussions. But if a mod himself promotes trolling then.

I missed this..not sure if you were meaning me and if you were

1. As far as I know and saw discussions here were always civil . you have different opinion and have the right to express it and no one can take that away from you as have others.

and

2. Mods can do something only if you report as we do not monitor all threads all the time as this is a voluntary time off from our day jobs. feel free to report any post you feel has been vindictive towards you as a person and any other mod can review it.

 

[OM_2K19]

which Hdfc CC would you suggest for starters and mostly for electronic stuff, online cashback and no interest EMI etc both online and offline

A word of caution, don't apply in multiple banks. If one of these applications is denied by the bank, your CIBIL will decrease by few points.

 

[bloredude]

I missed this..not sure if you were meaning me and if you were ... ... ...

Yes Mod Arj, I did mean you I was disappointed to see you join some FMs in mocking the people who posted opinion not favoring a Credit card. An ordinary member using a mocking emoji doesn't stick that bad. But a Mod doing so is a wrong signal.

I understand Mods are members first too, and that all Mods should be accorded the liberty to live their "ordinary FM life" here on the board. But from the outside it's hard to differentiate when a Mod is a Mod, and when an ordinary FM. I do feel bad that it is hard for ordinary individuals like me to differentiate between when a Mod is wearing the Mod-hat and when an ordinary FM-hat. At least to me, a when I see "Staff member"/"Moderator" against the name of a poster, I always feel the comment has a different weight/importance. Anything even slightly misplaced has bigger implication than it would had it been an ordinary member post. Hence my concern. I hope I have been able to communicate the same effectively.

Yes, the discussion has so far been civil, but it had started to tip towards the unwanted. I don't feel like being a whiner, running to report a post. But if needed I surely will use the feature. Thanks for the tip, again.

 

[bloredude]

was caught up somewhere, but was checking replies

Hope we managed to do again, what we do the best. Confuse the OP

 

[arj]

I do feel bad that it is hard for ordinary individuals like me to differentiate between when a Mod is wearing the Mod-hat and when an ordinary FM-hat. At least to me, a when I see "Staff member"/"Moderator" against the name of a poster, I always feel the comment has a different weight/importance. Anything even slightly misplaced has bigger implication than it would had it been an ordinary member post. Hence my concern. I hope I have been able to communicate the same effectively.

we always switch on Mod mode with the comment " Moderator or Mod: if you do not see this assume its as a member.

 

[bloredude]

Thanks for clarifying. However, this way there is no way to distinguish a non-written action, such as a reaction to a post.

Also, the most important thing is this badge that appears in the left column.
The importance of this insignia doesn't relinquish that easily!

 

[buzzaro]

w

which Hdfc CC would you suggest for starters and mostly for electronic stuff online cashback and no interest emi etc both online and offline


was caught up somewhere, but was checking replies

Start with Regalia or Regalia First if HDFC approves. You maybe offered Moneyback too at first. It's a good starting point. Check the annual fees and at what point are they waived off, for example, a card has Rs 2500 annual fee, but if you spend 250000 yearly, your fees will be waived off. So, if you are confident that your yearly expenditure will cross that amount, you don't have to worry about the annual fee. These numbers are just examples, check the actual numbers.

Another good starting point is Amazon ICICI credit card. It offers 5% cashback on all purchases (there are some exceptions, but it mostly works). I ordered a PS5 for a cousin today on Amazon and got 5% off, Rs 2500 profit straightaway. It will be added to my Amazon account next month.