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Devaluation HDFC SmartBuy New Charges on Amazon & Flipkart Voucher Purchase

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techie_space said:
Well, now we can say SBI Cashback >= DCB
REASON: I can purchase Amazon E Gift card and earn 5%, and also 1% back while doing payment, totalling 6%.
Where as DCB can fetch only 5.9%.

Added to this, CB limit on SBI Cashback is 5000 per month. On DCB 590 effectively for Amazon vouchers.
Click to expand...
Bro i think you are doing wrong calculation & enjoying your own way.


Its still 622 on DCBM & 3.3% Offline & you also forget additional 2.5% on spends of 4 lacs within 3 months
 
Well, this is going to continue until buying vouchers don’t make sense anymore. There are several reasons to it:

1. Gyftr getting greedy seeing the amount of these specific vouchers being purchased every month
(They already said it’s their “business decision” and HDFC had no role to play in it)

2. Dumb influencers and people instead of criticising, who keep saying “You still get X% reward rate with Infinia naa”
(This gives these big companies confidence that they can keep hiking the fees)

3. There is no actual regulation around how much convenience fee businesses can charge from the customers (If RBI or any other regulatory authority could step in and say X is the capping of convenience fee that can be charged from customers)

There are many more reasons but these are the most prominent I feel.

Also, please discuss what steps we as customers can take so that it doesn’t keep happening in the future……
 
aniketkr.sharma said:
Bro i think you are doing wrong calculation & enjoying your own way.


Its still 622 on DCBM & 3.3% Offline & you also forget additional 2.5% on spends of 4 lacs within 3 months
Click to expand...
how come 622?
for purchasing 1500 you pay 1561.95 & get 150 points
So profit = (1500+150-1561.95) = 88.05
profit % = 88.05/1561.95*100 = 5.63%
 
aniketkr.sharma said:
For purchasing apay gv (10000+1035-10413) = 622
Profit % = (622/10000)×100 = 6.22%
Click to expand...
here's the definition of profit % calculation =
profit % = (proft)/(cost price) * 100 (here cost price is price of obtaining something or producing something).
here your cost price is not 10000 rather 10413 because that's what you are paying to obtain your rewards.
so profit % = 622/10413*100 = 5.97

So 6 we can say
 
sousnake said:
here's the definition of profit % calculation =
profit % = (proft)/(cost price) * 100 (here cost price is price of obtaining something or producing something).
here your cost price is not 10000 rather 10413 because that's what you are paying to obtain your rewards.
so profit % = 622/10413*100 = 5.97
Click to expand...
Yeah you are right for %age but we are getting 622 + these are also getting counted with quarterly milestones, so it's not getting worse as of now
 
sousnake said:
here's the definition of profit % calculation =
profit % = (proft)/(cost price) * 100 (here cost price is price of obtaining something or producing something).
here your cost price is not 10000 rather 10413 because that's what you are paying to obtain your rewards.
so profit % = 622/10413*100 = 5.97

So 6 we can say
Click to expand...
Very good explanation.
Many people forget how to calculate this.
If you use reddit, on the CCIndia sub, many people end up dividing with the voucher value, and not what they are paying.
 
SmartyAadi said:
Very good explanation.
Many people forget how to calculate this.
If you use reddit, on the CCIndia sub, many people end up dividing with the voucher value, and not what they are paying.
Click to expand...
yeah.. it's very basic calculation.
But I think they want to attract people on post, so show profit % on higher side & fee on lower side (no one says plat-travel/atlas is 6k but rather 5k + gst).
 
Shroud said:
Well, this is going to continue until buying vouchers don’t make sense anymore. There are several reasons to it:

1. Gyftr getting greedy seeing the amount of these specific vouchers being purchased every month
(They already said it’s their “business decision” and HDFC had no role to play in it)

2. Dumb influencers and people instead of criticising, who keep saying “You still get X% reward rate with Infinia naa”
(This gives these big companies confidence that they can keep hiking the fees)

3. There is no actual regulation around how much convenience fee businesses can charge from the customers (If RBI or any other regulatory authority could step in and say X is the capping of convenience fee that can be charged from customers)

There are many more reasons but these are the most prominent I feel.

Also, please discuss what steps we as customers can take so that it doesn’t keep happening in the future……
Click to expand...
The biggest step that any consumer can take within any industry is to divert the consumption to alternatives. Once the demand takes a hit, inventory/fixed overheads rise and clearances happen before things get stabilized again. With respect to cards the lesson for us all is to not be dependent on a particular card for anything and everything. Always have options.
 
It's s
sousnake said:
here's the definition of profit % calculation =
profit % = (proft)/(cost price) * 100 (here cost price is price of obtaining something or producing something).
here your cost price is not 10000 rather 10413 because that's what you are paying to obtain your rewards.
so profit % = 622/10413*100 = 5.97

So 6 we can say
Click to expand...
It's same for Infinia as well, right?
 
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