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Only Premium & Super Premium Cards Discussion

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Only Premium & Super Premium Cards Discussion

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Only Premium & Super Premium Cards Discussion

Rarely known info about HDFC DCB hack on Swiggy

Apply For Lifetime Free IDFC First Credit Card
Harry1 said:
U did direct payment or via cred?
Click to expand...
I did a direct payment. However subsequently I did check with the CC. They mentioned that the refund i got (though not imps) has been considered as part of CC pmt for that month. I'm not sure if mine is a case because of the hotel chosen. Since it didnt appear so straightforward, did not want to try again.
 
Apply For LTF AU LIT Credit Card
venkateshr said:
I did a direct payment. However subsequently I did check with the CC. They mentioned that the refund i got (though not imps) has been considered as part of CC pmt for that month. I'm not sure if mine is a case because of the hotel chosen. Since it didnt appear so straightforward, did not want to try again.
Click to expand...
Reversals are always treated as card payment since almost 1 year now due to RBI guidelines.

But main thing is reward points. And Axis guys are very lazy in reversing points for refunded transactions. So you won't know even for months for sure 😅. My July bms failed and reversed transaction points is still not reversed.

When I used just few days before urs, I got it instantly (magnus only) as imps payment.

Two other guys also mentioned me that it worked for them just like mine. Although payment via cred didn't work.

Now I tried on idfc card 2 days back again. This time I didn't get instant refund. Not sure if it is due to idfc or if it is fixed or because I did transaction at midnight, when banks are closed. Haven't got refund yet. Probably will come tomorrow.

Anyway idfc will reverse points on statement generation itself, if it gets considered as refund, so will know it clearly.

Edit: Got refund and it is not as imps payment. Mostly points will get reversed 😔. 1000 rs loss. Should have tried with small amount first.
 
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Harry1 said:
Reversals are always treated as card payment since almost 1 year now due to RBI guidelines.

But main thing is reward points. And Axis guys are very lazy in reversing points for refunded transactions. So you won't know even for months for sure 😅. My July bms failed and reversed transaction points is still not reversed.

When I used just few days before urs, I got it instantly (magnus only) as imps payment.

Two other guys also mentioned me that it worked for them just like mine. Although payment via cred didn't work.

Now I tried on idfc card 2 days back again. This time I didn't get instant refund. Not sure if it is due to idfc or if it is fixed or because I did transaction at midnight, when banks are closed. Haven't got refund yet. Probably will come tomorrow.

Anyway idfc will reverse points on statement generation itself, if it gets considered as refund, so will know it clearly.
Click to expand...

Thanks. I wasn't aware about the RBI rules in this regard as this was a voluntary first time like this a in some 1000s. Since the transaction is separate (not same value) I think the points may not get reversed. But in Axis anything can happen considering the aggressive clawbacks they did to Reserve CC holders and other pts that had got credited to many accts in the Magnus heydays.

As of now, my Axis, HDFC, PNB spends have together crossed more than 45L for the year and individually more than 10L, Axis being the largest at 20L+. So to do any of the transaction like this make me worry as i dont know how is IT going to look at all of this considering my overall compensation isn't at such levels. Hence even if there is a case of points accrual using this method with minimal costs involved, I'm not trying to do it given the potential 26AS IT status vis-a-vis' salary receipts.
 
venkateshr said:
Thanks. I wasn't aware about the RBI rules in this regard as this was a voluntary first time like this a in some 1000s. Since the transaction is separate (not same value) I think the points may not get reversed. But in Axis anything can happen considering the aggressive clawbacks they did to Reserve CC holders and other pts that had got credited to many accts in the Magnus heydays.

As of now, my Axis, HDFC, PNB spends have together crossed more than 45L for the year and individually more than 10L, Axis being the largest at 20L+. So to do any of the transaction like this make me worry as i dont know how is IT going to look at all of this considering my overall compensation isn't at such levels. Hence even if there is a case of points accrual using this method with minimal costs involved, I'm not trying to do it given the potential 26AS IT status vis-a-vis' salary receipts.
Click to expand...
All partial refunds are eligible for point reversal on the reversed amount. It won't be full reversal. That's how it works with all banks. In axis, it just gets delayed.

I don't know much about second para. Consult a CA. Everyone says different things. I always avoid crossing 10L from same bank to be safe side. Moreover, my income is good enough to justify even if it gets reported somehow.
 
Harry1 said:
Just tried and it's working 😂. Instant refund with imps before settlement.

Best way for magnus, atlas and DCB cards. Just hope intermiles don't block the account 😉.
Click to expand...
But won't Axis reverse the points given?
When I cancelled a booking and I got a refund, AU Lit reversed the Cashback
 
If you take a single premium insurance with one time payment and then you ask for a refund within the 15 days free lookin period,
1) Will the refund come to your credit card or bank account?
2) Will the points given be deducted or not?
@TheMentalist @Tejo @xywowowvw
 
drsel said:
If you take a single premium insurance with one time payment and then you ask for a refund within the 15 days free lookin period,
1) Will the refund come to your credit card or bank account?
2) Will the points given be deducted or not?
@TheMentalist @Tejo @xywowowvw
Click to expand...
if refund is done to source then poitns will be reversed and transaction will be null
if they ask for bank details then sab changa si
 
drsel said:
If you take a single premium insurance with one time payment and then you ask for a refund within the 15 days free lookin period,
1) Will the refund come to your credit card or bank account?
2) Will the points given be deducted or not?
@TheMentalist @Tejo @xywowowvw
Click to expand...
If you paid through online modes like cards or netbanking ..... The refund will be processed to source account*

Mostly all banks are deducted the points for reversal transactions.

By luck if the transaction refunded partially, the few banks like axis are not deducted the points
 
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