There is one more catch. The moment shopkeeprs come to know that you are paying by card, they hike their rates. The logic- that you are anyway going to get 5% back so do not crib about us charging 1or 2% extra.
This is a good topic to be aware of by everyone. One thing you probably did not cover is regarding the hit to membership reward points. For example, ICICI bank reverts the membership reward points earned on the amount you received cash back offer benefit.
Credit cards issuing companies are marketing their products... The consumer should be vigilent enough to choose only to the extent it benefits consumers.
Really vital info about credit cards,various hidden charges that cheat on our pockets.I would appreciate if more such eye openers are posted regularly.
After reading your article and all your messages, I am happy I don't have a ICICI credit card. In fact I don't have any relationship with any ICICI name. I somehow don't get myself to trust them after I opened a SB A/c with them and closed it later after discovering lots of hidden charges for not maintaining AQB. I have other credit cards and now do balance transfer wisely every few months between the cards. I have also learnt to control my card usage. Not reading the many things in fine print, I got taken for a ride on many occasions earlier. Now I am wiser. I use my credit card only when required and pay the dues on due date without fail. If possible spend on the 1st day or very early and pay on the 50th day promptly. This is perhaps the only way we can utilise the banks funds without interest. Even if you have to transfer funds from elsewhere or even borrow, do so and clear the dues on the due date. You cannot do any better.
without any information they are putting hell of charges.if customer will not complaint they do these thing in routine.so my suggestions is that dont pending ur bills.clear before due date.particularly take care with ICICI bank
This was a tremendous briefing on CBS, people get to think before they attempt to do it and repent later. Thank you for this post and keep doing for other various operations.
