Rental Payment -- Credit Card Offers

[visvin]

I had made the 1st payment in Aug which was successful.
When I tried to make the 2nd transaction in Sep, it was declined due to 'security reasons'.

I raised SR for this and the same was closed with stating there are restriction on rental merchants!

On one hand Axis is promoting use of their card on this merchant and on other hand it is declining the transactions done on this merchant!

On the face of it, this looks fraudulent promotion being conducted by Axis where 1st month's transaction goes through but the 2nd month's for which the accelerated reward points is due is being declined.

Escalated to PNO and RBI via CMS

Got a call from Axis today, due to RBI CMS complaint. The person said, he'll write to the concerned team to rectify the issue of not allowing my Axis card on MagicBricks for to rental payments.
Hence, would definitely suggest escalating to RBI CMS if you have genuine rental payments which Axis is declining

 

[thanix]

Yes, have been paying on MB for last few months. You only have to upload once, after that the discount auto applies.

Nice. Please confirm have you ever made rent payment on MB previously ?
So my question is that last month I uploaded the rent agreement. Do I need to upload it every month?

Question regarding the rental agreement - Does the rental agreement needs to be a registered agreement in stamp paper or normal rental agreement is accepted in MB?

 

[manikP]

Question regarding the rental agreement - Does the rental agreement needs to be a registered agreement in stamp paper or normal rental agreement is accepted in MB?

Normal (notarized) accepted.

 

[thanix]

Normal (notarized) accepted.

Thanks, I realised today that only convenience fee is waived off with HDFC cards and rental agreement. Processing fee is still charged in MB.

 

[gurubhai]

Thanks, I realised today that only convenience fee is waived off with HDFC cards and rental agreement. Processing fee is still charged in MB.

I remember only one of the fees was there earlier. Either Convenience or processing.
For August and Sept I got upto 350 off on that fees. And there were charging 1% + GST only that time.
For Oct Rent I got upto 250 off and they charged 1.5% + GST so I ended up paying some 100 bucks extra above my rent but my reward points were good so it was fine for me.

 

[gurubhai]

Thanks, I realised today that only convenience fee is waived off with HDFC cards and rental agreement. Processing fee is still charged in MB.

Bro you got confused I think. I just checked for myself on MB. The formula is
Processing fees = Convenience Fees(1.49%) + GST
The User interface there is little confusing but if you do the maths, processing fees is total fees charged.
Both are not charged.
.
And for HDFC you get discount on convenience fees upto 250.

 

[thanix]

Bro you got confused I think. I just checked for myself on MB. The formula is
Processing fees = Convenience Fees(1.49%) + GST
The User interface there is little confusing but if you do the maths, processing fees is total fees charged.
Both are not charged.
.
And for HDFC you get discount on convenience fees upto 250.

Ok thanks for the clarification, I didn't notice the 250 INR limit on waiver.

 

[visvin]

Any one has a clue if using Rent Pay on Paytm gets classified as Rent or Wallet?
I can see the Merchant name as Paytm Rental on the OTP page.

 

[kkk]

Any one has a clue if using Rent Pay on Paytm gets classified as Rent or Wallet?
I can see the Merchant name as Paytm Rental on the OTP page.

Rent.