HDFC Millennia Cashpoints or cashback issue

[ccgeek07]

Hello everyone

I'm aware that Millennia Cashpoints are credited on monthly basis (1st to 31st) in later month's statement. Now I faced a different issue where Cashpoints were credited for all transactions of the month except of 31st.

Anyone else experienced this issue?

 

[ccgeek07]

Here credited means I meant to say it's posted under "Cashpoints" section of the statement

 

[sharpened]

29-31 transactions are counted in the next month because settlements take 3 days. It's an HDFC quirk that applies to everything from cash points to annual fee waiver.

For example: My transaction on 29th December 2022 counted for 2023 Q1's milestone. Similarly, my 90k transaction on 29 May 2023 didn't give me any cashpoints yet, it'll be counted in this month.

 

[ccgeek07]

29-31 transactions are counted in the next month because settlements take 3 days. It's an HDFC quirk that applies to everything from cash points to annual fee waiver.

For example: My transaction on 29th December 2022 counted for 2023 Q1's milestone. Similarly, my 90k transaction on 29 May 2023 didn't give me any cashpoints yet, it'll be counted in this month.

Thanks for the info
My transactions on 30th May fetched cashpoints but not of 31st May only.

 

[akshayhs]

Thanks for the info
My transactions on 30th May fetched cashpoints but not of 31st May only.

The cashpoints are credited only for settled transanctions. Usually, settlement takes 48 hours maximum. So it's possible transactions on 31st weren't settled at all (in terms of determining cashpoints).

 

[RkrRkr is verified member.]

Hello everyone

I'm aware that Millennia Cashpoints are credited on monthly basis (1st to 31st) in later month's statement. Now I faced a different issue where Cashpoints were credited for all transactions of the month except of 31st.

Anyone else experienced this issue?

May be your transaction was not settled on the day itself..
Credit card transactions typically take 48 hours to settle. An authorization is issued immediately but it takes 48 hours for the money to be moved.

 

[ccgeek07]

Thanks @akshayhs @Rkr