Devaluation Scapia devaluation/cashback points limitations from 7th september

[navdeep22]

 

[telescope]

 

[HumorSimpson]

 

[D₹V]

There was time when everywhere was scapia, scapia,....

Now, nothing 🤣🤣.

 

[D₹V]

View attachment 64193

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Devaluation Thread 'Scapia devaluation/cashback points limitations from 7th september'

Aug 7, 2024

• navdeep22
• credit card credit card devaluation devaluation federal bank federal bank credit card federal bank scapia credit card lounge access points scapia utility bill payment
• Replies: 11
• Forum: Federal Bank Credit Card

• 

Merge .

 

[telescope]

N

Devaluation Thread 'Scapia devaluation/cashback points limitations from 7th september'

Aug 7, 2024

• navdeep22
• credit card credit card devaluation devaluation federal bank federal bank credit card federal bank scapia credit card lounge access points scapia utility bill payment
• Replies: 11
• Forum: Federal Bank Credit Card

• 

Merge .

as it was already published I am asking mods to delete this one

 

[navdeep22]

There was time when everywhere was scapia, scapia,....

Now, nothing 🤣🤣.

i used to use it from credit card to bank transer but now thats gone

 

[HumorSimpson]

 

[Abhishek012]

Dear Cardholder,

Greetings from Federal Bank.

In our commitment to transparency and exceptional service, we're writing to inform you about the updates to the terms and benefits on your Scapia Federal Credit Card that will be made effective from 7th September 2024.

What's changing?

A. Fuel Transactions:

• Enjoy 1% surcharge waiver for any fuel transaction up to Rs.5,000
• Surcharge waiver amount is capped at Rs 500 per billing cycle
• Fuel spends over Rs.50,000 in a billing cycle will attract an additional convenience fee of 1% + applicable GST
• Convenience fee is capped at Rs.3,000 per transaction excluding GST
• Spends on Fuel category are now excluded from rewards

B. Lounge Access: Unlimited domestic lounge benefit will be unlocked on spends of ₹10,000 or more in the previous billing cycle. This updated benefit will reflect in statements generated from October. For statements generated in September, the existing ₹5,000 spending threshold will apply.

C. Utility, Telecom and Cable Transactions (MCC: 4900,4812,4814, 4816 and 4899):

• 10% coins for spends up to Rs.20,000 in a billing cycle
• Spends more than Rs.20,000 in a billing cycle are excluded from rewards
• Spends over Rs.50,000 in a billing cycle will attract an additional convenience fee of 1% + applicable GST
• Convenience fee is capped at Rs.3,000 per transaction excluding GST

D. Other changes:

• Spends on rent, wallet load will now attract a convenience fee of 1% + applicable GST (max Rs.3,000 per transaction excluding GST)
• Spends on Government Services (MCC: 9099 to 9999) and Business Services (MCC: 7399, 7311, 7372, 7538, 7832, 7392, 7997, 7991, 7349, 7941) are now excluded from rewards

E. Interest Rates:

• Interest rates on your Scapia Federal Credit Card stands revised to 3.75% p.m. (45% p.a.). If your bill is not paid in full, 3.75% interest will be charged on the total outstanding every month

Please note: Goods and Services Tax (GST) will be charged on all fees, interest, and other charges.

Thank you for using Scapia Federal Credit card. We're excited to keep offering you a credit card experience that's not only hassle-free but also rewarding. Here's to more adventures together!

Regards,Federal Bank

 

[HumorSimpson]

Dear Cardholder,

Greetings from Federal Bank.

In our commitment to transparency and exceptional service, we're writing to inform you about the updates to the terms and benefits on your Scapia Federal Credit Card that will be made effective from 7th September 2024.

What's changing?

A. Fuel Transactions:

• Enjoy 1% surcharge waiver for any fuel transaction up to Rs.5,000
• Surcharge waiver amount is capped at Rs 500 per billing cycle
• Fuel spends over Rs.50,000 in a billing cycle will attract an additional convenience fee of 1% + applicable GST
• Convenience fee is capped at Rs.3,000 per transaction excluding GST
• Spends on Fuel category are now excluded from rewards

B. Lounge Access: Unlimited domestic lounge benefit will be unlocked on spends of ₹10,000 or more in the previous billing cycle. This updated benefit will reflect in statements generated from October. For statements generated in September, the existing ₹5,000 spending threshold will apply.

C. Utility, Telecom and Cable Transactions (MCC: 4900,4812,4814, 4816 and 4899):

• 10% coins for spends up to Rs.20,000 in a billing cycle
• Spends more than Rs.20,000 in a billing cycle are excluded from rewards
• Spends over Rs.50,000 in a billing cycle will attract an additional convenience fee of 1% + applicable GST
• Convenience fee is capped at Rs.3,000 per transaction excluding GST

D. Other changes:

• Spends on rent, wallet load will now attract a convenience fee of 1% + applicable GST (max Rs.3,000 per transaction excluding GST)
• Spends on Government Services (MCC: 9099 to 9999) and Business Services (MCC: 7399, 7311, 7372, 7538, 7832, 7392, 7997, 7991, 7349, 7941) are now excluded from rewards

E. Interest Rates:

• Interest rates on your Scapia Federal Credit Card stands revised to 3.75% p.m. (45% p.a.). If your bill is not paid in full, 3.75% interest will be charged on the total outstanding every month

Please note: Goods and Services Tax (GST) will be charged on all fees, interest, and other charges.

Thank you for using Scapia Federal Credit card. We're excited to keep offering you a credit card experience that's not only hassle-free but also rewarding. Here's to more adventures together!

Regards,Federal Bank

 

[Mirror108]

All Banks are looting Credit Card Users first with 2% MDR charges (except Fuel 1.18) and now these Crooked Rules. It feels Central Bank has some long term game plan to F*ck citizens and move away from empowering citizens economically and All the Banks (Both National & Private) just following it's order's in their own crooked ways.

There's never a respite from the ever greedy Financial Charges by Banks on Credit Card Payments NOR towards Processing, Preclosure Charges on Loan's.

 

[navdeep22]

All Banks are looting Credit Card Users first with 2% MDR charges (except Fuel 1.18) and now these Crooked Rules. It feels Central Bank has some long term game plan to F*ck citizens and move away from empowering citizens economically and All the Banks (Both National & Private) just following it's order's in their own crooked ways.

There's never a respite from the ever greedy Financial Charges by Banks on Credit Card Payments NOR towards Processing, Preclosure Charges on Loan's.

so what i donot understand is , if they are charging payment gateway 1% or 1.5%, then why are they charging users on utility payment as they are already getting money from merchant 😅