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Cheq app has started charging processing fee for credit card bill payment

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Abhishek012

Abhishek012

TF Pioneer

Cheq app has started charging processing fee for credit card bill payment:​

The processing fee is flat 0.2% upto Rs.99.

IMG20230525012559139.jpg

Alternative apps for Credit Card bill repayment -

1) CRED - Pay Rs50,001+ and get debit card payment option,

2) Mobikwik

3) Bajaj Finserv

4) Paytm - Visa/RuPay debit card accepted or alternative way is first load money to paytm wallet and now pay cc bill using your Paytm wallet balance/Paytm gift voucher balance

5) HDFC bill pay for HDFC users.

6) Axis cc bill pay via net banking/app - You will get debit card option via Freecharge gateway.
 
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Salvo08

Salvo08

TF Ace
VIP Lounge
CREDITDATA said:
Guys

Stop wasting precious time of your life on this stupid app for peanuts. Peanuts are for monkeys not for members of TF -

Aim for big and tangible gains
Click to expand...

Think more than the peanuts, the tangible benefit Cheq offered was to pay through Debit Card and get reward points on DC expenditure as well. Cred only allows that for amounts in excess of ₹1 lakh. HDFC allows payment through DC but only on cards of other banks.
 
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V

Vignesh M

TF Select
Salvo08 said:
Think more than the peanuts, the tangible benefit Cheq offered was to pay through Debit Card and get reward points on DC expenditure as well. Cred only allows that for amounts in excess of ₹1 lakh. HDFC allows payment through DC but only on cards of other banks.
Click to expand...
Salvo08 said:
Think more than the peanuts, the tangible benefit Cheq offered was to pay through Debit Card and get reward points on DC expenditure as well. Cred only allows that for amounts in excess of ₹1 lakh. HDFC allows payment through DC but only on cards of other banks.
Click to expand...
yes exactly!! it allows to pay bills of small amounts with DC ( esp with mobikwik limit for dc sealed at 20k) and even after charging 0.2% they give 1% cheq coins which even if used to pay for other cc provides value of 0.25% ( net-net 0.05% gain) no matter how minuscule, i mean its not like we are losing for paying via cheq right??
For high bill payers the charge is capped at 99 Rs. For example paying Rs.75000 bill gives 750 coins(=187.5 rs at 0.25% conversion) but takes away only rs.99 (effective gain of 0.118%). So am i missing anything here??
 
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kkk

kkk

TF Ace
VIP Lounge
Verified User
Vignesh M said:
yes exactly!! it allows to pay bills of small amounts with DC ( esp with mobikwik limit for dc sealed at 20k) and even after charging 0.2% they give 1% cheq coins which even if used to pay for other cc provides value of 0.25% ( net-net 0.05% gain) no matter how minuscule, i mean its not like we are losing for paying via cheq right??
Click to expand...
I agree. I normally do high value transaction on Cheq as max processing charge is Rs. 99. So suppose you are paying your CC bill of 3lakh then you end of getting 0.2% over all in your account(redeemed against cash) + Debit card rewards if any.

If only they had higher value of Flipkart, Myntra and Amazon. And on top of that one can only redeem one merchant's voucher once in a month. So voucher redemption is pathetic. I redeem it against cash which effectively gives me 0.2% benefit + Debit card benefits only if my CC bill is on higher end.
 
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Vignesh M

TF Select
kkk said:
I agree. I normally do high value transaction on Cheq as max processing charge is Rs. 99. So suppose you are paying your CC bill of 3lakh then you end of getting 0.2% over all in your account(redeemed against cash) + Debit card rewards if any.

If only they had higher value of Flipkart, Myntra and Amazon. And on top of that one can only redeem one merchant's voucher once in a month. So voucher redemption is pathetic. I redeem it against cash which effectively gives me 0.2% benefit + Debit card benefits only if my CC bill is on higher end.
Click to expand...
yes its not a loss even for small transactions considering the worth of other rewards mobikwik supercash / cred coins. ( not considering additional coupons used in mobikwik/ additional rewards in cred))
 
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Salvo08

Salvo08

TF Ace
VIP Lounge
Vignesh M said:
yes exactly!! it allows to pay bills of small amounts with DC ( esp with mobikwik limit for dc sealed at 20k) and even after charging 0.2% they give 1% cheq coins which even if used to pay for other cc provides value of 0.25% ( net-net 0.05% gain) no matter how minuscule, i mean its not like we are losing for paying via cheq right??
For high bill payers the charge is capped at 99 Rs. For example paying Rs.75000 bill gives 750 coins(=187.5 rs at 0.25% conversion) but takes away only rs.99 (effective gain of 0.118%). So am i missing anything here??
Click to expand...
The calculation is right but then you only need to take value of each cheq coin as 0.25 only. Their vouchers are absolutely useless. Yesterday redeemed my 7K coins for cash trasfer to bank.

AU Bank Royale card gives me 1% with Max cashback capped at ₹200. And to pay 20K, Cheq will charge ₹40/- so effectively one would get to gain ₹200 - 40 =160 + (200x0.25) = ₹210/-.
 
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