Best Way to pay Credit Card Bill

[kushal]

Guys I am redacting this post as I have been asked by the bank for non disclosure as mentioned in TnCs else my account would be suspended. They had asked me to remove this as this violates the TnC related to not getting reward points for CC payments.

 

[Sanskar]

So exclusive is better than pioneer.
Is it incremental slab based rewards like interest on saving account or on total monthly spends you get rewards for that slab directly?

On exclusives dc incremental, Pioneer DC flat 1 do on ₹200

 

[jack333]

So in exclusive debit card if we do 50k transaction we will get incremental in all the slabs below it rather than dire tly in the 50k slab. So its like interest is calculated in a savings account. So it gets to around 0.5% only till 50k

 

[Sanskar]

So in exclusive debit card if we do 50k transaction we will get incremental in all the slabs below it rather than dire tly in the 50k slab. So its like interest is calculated in a savings account. So it gets to around 0.5% only till 50k

 

[jack333]

Still not getting it. Is it incremental in all the slabs below the amount like bank interest calculation or directly in the slab of the amount. Someone who has got it can only clarify

 

[Copycat]

Still not getting it. Is it incremental in all the slabs below the amount like bank interest calculation or directly in the slab of the amount. Someone who has got it can only clarify

It is like the income tax calculation
See this tab (Points usage tab) for the different slabs: https://www.indusind.com/in/en/personal/cards/indus-rewards.html
kushal has just simplified the calculation in the first post in this thread (i.e. he has converted from points to rupees to help everyone)
For Pioneer DC, it is a flat rate: whether you spend Rs 100 or Rs 1000000, the reward in terms of rupees is 0.5% of the spend total

In case it makes more sense for you, think of it this way: When you do your Nth spend of the month, IndusInd calculates how much you have spent in that month already and then calculates the reward points for the Nth spend using the cumulative spends for the month (after subtracting the rewards already given out in that month)

 

[jack333]

What if we do a single spend of 50k. Is it directly in that slab or all slabs below it incremental wise?

 

[Copycat]

What if we do a single spend of 50k. Is it directly in that slab or all slabs below it incremental wise?

Case 1: 50K is your 2nd, 3rd ....10th, whatever transaction of the month. PrevX is the total of your previous spends in the current month, PrevRPX is the total reward points you have got this month
Case 2: 50K is your first transaction of the month. So PrevX = 0, PrevRPX = 0

In both cases the calculation is the same
Take PrevX+50K
Break it into slabs based on the table
For each slab calculate the reward points (just like you do the income tax calc)
Now you will get the total reward points for PrevX+50K. Call it PrevRPXPlusRPFor50K
From this subtract PrevRPX (previous reward points you got in the current month). After the subtraction what you left with is the reward points for the 50K transaction. This is what IndusInd will post in your reward points account

So to answer your question: it is incremental

 

[jack333]

So for 50k transaction its not 0.78% it comes down to only 0.5%

 

[Copycat]

So for 50k transaction its not 0.75% its only 0.5% only cashback

No. I think you have not understood what I said
Your 50K transaction will fetch you at least 0.78% return (if it is the 1st transaction of the month). It may fetch you more than 0.78% depending on how many prior transactions you have done in the month.

 

[jack333]

So it is directly in that slab and not incremental like saving interest and income tax. You said incremental earlier

 

[Copycat]

So it is directly in that slab and not incremental like saving interest and income tax. You said incremental earlier

Let me explain what I meant with an example. I think we are using the term incremental to refer to different things


Case 1:
You pay your 55K CC bill. It is your 1st transaction of the month. So the calculation is as follows
For the 1st 5K: you get 5000/200*2 = 50 points
Rs. 5001 - 10,000: you get (10000-5000)/200*3 = 75 points
Rs. 10,001 - 20,000: you get (20000-10000)/200*4 = 200 points
Rs. 20,001 - 40,000: you get (40000-20000)/200*5 = 500 points
Above Rs. 40,000: you get (55000-40000)/200*6 = 450 points
Total points for your 1st transaction of 55K = 50 + 75 + 200 + 500 + 450 = 1275 points = (1275*0.35) rupees = 446.25 rupees = 0.81% return


Case 2:
You pay your 55K CC bill. It is your 2nd transaction of the month. Previously you did a transaction of 40K. Total transaction value for the month is 95K. So the calculation is as follows
For the 1st 5K: you get 5000/200*2 = 50 points
Rs. 5001 - 10,000: you get (10000-5000)/200*3 = 75 points
Rs. 10,001 - 20,000: you get (20000-10000)/200*4 = 200 points
Rs. 20,001 - 40,000: you get (40000-20000)/200*5 = 500 points
Above Rs. 40,000: you get (95000-40000)/200*6 = 1650 points
Total points for 95K = 50 + 75 + 200 + 500 + 1650 = 2475 points
Previously you did a transaction of 40 K. For that you got 50+75+200+500 = 825 points
So for your 2nd transaction of 55K you will get 2475-825 = 1650 points = 577.5 rupees = 1.05% return if you consider just the 55K transaction
And if you consider the total transaction value for the month you get 2475 points = 866.25 rupees = 0.91% return

I hope this clarifies what I meant here: https://www.technofino.in/community...d-0-93-and-hdfc-1-debit-card.4373/post-103701

 

[jack333]

Great bro thanks for clarification. So even if we make first transaction of 50k it will be calculated through all slabs below it also just like income tax and bank saving interest.
It's definitely better than reward rate on pioneer debit card

 

[jack333]

But there is capping on maximum in exclusive card while there is no capping on pioneer debit card

 

[hakunamatata]

But there is capping on maximum in exclusive card while there is no capping on pioneer debit card

Yes but that capping is achieved on spending 1.125 Lakhs.
Also you can opt for additional debit card(Visa/Master), which will have it's own reward points.
So in total 2.25 Lakhs per month can be spent using both of them.

 

[xiddy]

I paid my ICICI CC bill using HDFC bill pay 2 days ago, and it is still not reflecting on ICICI's end. Does it usually take this long? Received notification from HDFC almost immediately that the transaction was successful.

 

[ARV]

I paid my ICICI CC bill using HDFC bill pay 2 days ago, and it is still not reflecting on ICICI's end. Does it usually take this long? Received notification from HDFC almost immediately that the transaction was successful.

Usually takes 3 to 4 working days

 

[jack333]

Yes but that capping is achieved on spending 1.125 Lakhs.
Also you can opt for additional debit card(Visa/Master), which will have it's own reward points.
So in total 2.25 Lakhs per month can be spent using both of them.

We can also get visa signature debit card in pioneer account

 

[panu24]

I paid my ICICI CC bill using HDFC bill pay 2 days ago, and it is still not reflecting on ICICI's end. Does it usually take this long? Received notification from HDFC almost immediately that the transaction was successful.

Yes it took me 3 days for ICICI to reflect my payment as well. Good thing is that payment date remains same, the day you paid actually.

 

[hks789]

Can anyone tell me how to pay IDFC Bank CC Bill by using HDFC CC as in HDFC Bill Pay we can't register IDFC Bank Credit Card?

I paid the IDFC bill through MobiKwik with an HDFC platinum card. Got 1% cashback points.
Tested with 5k on the 8th, and got 50 points today.

Tried a PNB card payment through Bajaj Finance - Didn't receive points

 

[AnkTechno]

I'm sorry if I'm posting a repetitive question but..


I have a large payment due (~ 2.5 lakhs) for Hdfc INFINIA.
What would be the best pay to pay for the same.
I tried the Bill pay option via HDFC mobile app for 1% cashback. But can't add the card via mobile app.