Five Credit Card Rules You Don't Know | Don't Let Your Bank Scam You

[Deleted member 11974]

they would ask to show the proof of money debited from your acc which should have ifsc code your name on the ACC and all of that

Proof of txn? What sorts of proof you're talking about? Your statement is more than enough na, there would be balance in -ve. They are not going to ask to present txn (Cr.) statment/slip.

 

[Aniket]

they would ask to show the proof of money debited from your acc which should have ifsc code your name on the ACC and all of that

Did any bank ask you like this?

If any payments /refunds/cashbacks get credited, it belongs to that particular cardholder.

To process refund of excess money, bank account details are required which can be shared by as in text format or cancelled cheque.

 

[Anupama_Jha]

it was a credit card to credit card payment

they would ask to show the proof of money debited from your acc which should have ifsc code your name on the ACC and all of that

From which portal have you done the payment?
There will be transaction receipt 🧾
Along with share the UPI trxn ss

Is the card from which u paid and the card on which u paid are of different persons or same person ?

For cc - ur card number is account number and IFSC code will look like (KKBK00UPICC)

**Something like that for all rupay cc issuers.

 

[Deleted member 11974]

From which portal have you done the payment?
There will be transaction receipt 🧾
Along with share the UPI trxn ss

Is the card from which u paid and the card on which u paid are of different persons or same person ?

For cc - ur card number is account number and IFSC code will look like (KKBK00UPICC)

**Something like that for all rupay cc issuers.

aree bhai you arent understanding
i did a direct card to card payment via sbi unipay back when it was allowing
obviously wont be sharing the cc statement showing the card txn

 

[Deleted member 11974]

Did any bank ask you like this?

If any payments /refunds/cashbacks get credited, it belongs to that particular cardholder.

To process refund of excess money, bank account details are required which can be shared by as in text format or cancelled cheque.

citi, axis and indus all have asked for proof of txn

 

[raghu.rokda]

Our mission is to educate people about credit cards and other banking products, and we'll continue to spread correct information and processes.

@TechnoFino dada & @raghu.rokda sir have common missions…..They continue to spread awareness

 

[Aniket]

citi, axis and indus all have asked for proof of txn

So did you share proofs, if yes, how you managed to be safe after doing C2C payments, evident from that txn slip na?

 

[Deleted member 11974]

So did you share proofs, if yes, how you managed to be safe after doing C2C payments, evident from that txn slip na?

i didnt share proof
i had to use the credit bal
that's why my question

 

[SSV]

i didnt share proof
i had to use the credit bal
that's why my question

Have you already closed the card ??

 

[Deleted member 11974]

nope

Have you already closed the card ??

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[SSV]

nope

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1)which Bank's card we are talking about here?
2)how much excess money?
3) you dont want to transact with this card any more?

 

[Aniket]

1)which Bank's card we are talking about here?

citi, axis and indus, mentioned by @sxchzy

2)how much excess money?
3) you dont want to transact with this card any more?

Have you faced this (asked to submit proof of txn)? I don't think so.

 

[SSV]

Have you faced this (asked to submit proof of txn)? I don't think so.

As I always maintain -ve balance in most of my CCs , I face this situation when I close any card.
Yes.. proofs need to be presented.. and each bank acts slightly different..

 

[SSV]

citi, axis and indus, mentioned by @sxchzy

Have you faced this (asked to submit proof of txn)? I don't think so.

As I always maintain -ve balance in most of my CCs , I face this situation when I close any card.
Yes.. proofs need to be presented.. and each bank acts slightly different..

My recent experience with Kotak two days ago..

 

[Deleted member 11974]

1)which Bank's card we are talking about here?

AXIS CITI INDUS

2)how much excess money?

50-70K when paying to a wrong card

3) you dont want to transact with this card any more?

i intend to get it xfered to bank to pay to the correct

 

[SSV]

AXIS CITI INDUS

50-70K when paying to a wrong card

i intend to get it xfered to bank to pay to the correct

AXIS CITI INDUS

50-70K when paying to a wrong card

i intend to get it xfered to bank to pay to the correct

Out of those I had experience with AXIS for more than 3 times.. the recent one being yesterday..

Axis asks for the source funds details...

However, we can find a waydepedning upon the circumstances.. Elaborate on what happened to your AXIS excess balance..

1) where did you pay from for your AXIS excess balance.
2) How much total is in excess and how many corresponding transactions that are reflected in paying CC and date..
3) Is the paying CC in your name only?
4) do you have any Axis sb account?
etc .etc..

 

[Vishnuts]

@TechnoFino One doubt regarding point 1.

Do car loan, home loan and personal loan have 3 days grace period?

 

[Deleted member 11974]

Out of those I had experience with AXIS for more than 3 times.. the recent one being yesterday..

Axis asks for the source funds details...

However, we can find a waydepedning upon the circumstances.. Elaborate on what happened to your AXIS excess balance..

1) where did you pay from for your AXIS excess balance.
2) How much total is in excess and how many corresponding transactions that are reflected in paying CC and date..
3) Is the paying CC in your name only?
4) do you have any Axis sb account?
etc .etc..

View attachment 55238

i tried doing all of it didnt work
they were hesitant on asking for details

 

[Trust Me]

@TechnoFino dada & @raghu.rokda sir have common missions…..They continue to spread awareness

Thank you for making us all aware: who is Sir and who is just dada . 🙂
.

 

[GTSaketh]

1. 3 Days Grace Period Rule:​

This rule applies not just to credit cards but also to any credit products like personal loans, home loans, and car loans. You get a 3-day grace period after the due date to pay your EMI or credit card bill. If you pay within these 3 days, the bank cannot charge you any late payment penalties or interest.​

Example: Anil has a HDSC Bank credit card bill of Rs. 5,000 due on May 28, 2024. If he pays by May 31, 2024, HDSC Bank cannot charge any extra penalties or interest. However, if he pays after May 31, he will incur additional charges.​

​

*Official RBI Guidelines: check 9. (b). (v). point of Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (Updated as on March 07, 2024)​

​

Isn't this basically just adding extra 3 days to your due time?