Devaluation HDFC SmartBuy New Charges

[amitalpha]

Amazon Fresh too now includes 3.5% now which was 0 previously

 

[aniketkr.sharma]

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.

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

 

[Shroud]

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……

 

[sousnake]

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

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]

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%

For purchasing apay gv (10000+1035-10413) = 622
Profit % = (622/10000)×100 = 6.22%

 

[sousnake]

For purchasing apay gv (10000+1035-10413) = 622
Profit % = (622/10000)×100 = 6.22%

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

 

[aniketkr.sharma]

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

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

 

[SmartyAadi]

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

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.

 

[sousnake]

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.

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).

 

[SmartyAadi]

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).

True. Could be!

 

[jk51]

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……

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.

 

[CCgeek]

Amazon Fresh too now includes 3.5% now which was 0 previously

I still see no surcharge on Amazon Fresh vouchers on smartbuy.

 

[SmartyAadi]

I still see no surcharge on Amazon Fresh vouchers on smartbuy.

Most likely they made the same mistake as the other guy who was on FK page but had Apay in cart but thought the charge is for FK 😂😂
I don't see a charge as well

 

[Kushagra_]

It's s

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

It's same for Infinia as well, right?

 

[aniketkr.sharma]

It's s

It's same for Infinia as well, right?

It's s

It's same for Infinia as well, right?

Nope, infinia reduced to 12% now

 

[sousnake]

It's s

It's same for Infinia as well, right?

for infinia you get more reward points so ~12%.

 

[CCgeek]

Most likely they made the same mistake as the other guy who was on FK page but had Apay in cart but thought the charge is for FK 😂😂
I don't see a charge as well

Yes, I agree. That's often the case. Devaluation talks are always in panic mode!

 

[Kushagra_]

for infinia you get more reward points so ~12%.

I thought DCB was also 10x

 

[RDR]

I thought DCB was also 10x

Infinia is 5x, DCB 3x for vouchers

 

[Kushagra_]

Infinia is 5x, DCB 3x for vouchers

Oh yes sorry 😂 I meant i thought dcb was also 5x