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Did credit cards succeed in their operation.

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Deal Subedar
playdime

Now that creditcards have become integral part of any earning family, the question did the credit cards succeed in their motives.

lets see what are they

1. Govt. perspective everything will now be in electronic and traceable.

2. The visa and master card successfully proved their dominance in emerging indian market.

3. The customer spend behaviour changed drastically.

4. We are slowly into the hands of west. Why? Just see how Russia is suffering.

5. Cashback offers, points etc trapped us into ever spending nature.

6. There are un necessary things bought. Just imagine buying a stupid thing in cash. Giving a lakh rupee in cash and just swiping card has different experience.

how many feel the same and still avoid using cards.

i practiced using cash for past 3 months instead of cards and save ~30k. Wow man.

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Deal Lieutenant Deal Lieutenant
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Credit card is a double-edged sword… It depends on the wielder on how they use it…

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LOL. Use UPI, RuPay debit cards.

If you save 30k on cash then you will save more than 50k on UPI, RuPay debit cards.

For example -

Grocery purchase – You will get huge discount offers on Jiomart, Amazon fresh etc but discount/cashback offers only apply through electronic payment modes. Use UPI and RuPay debit cards.

You are right Cashback offers points trapped us into ever spending nature but this thing only apply on credit cards. you can also use Prepaid cards like Junio RuPay cards or Dhani Freecashback cards etc.

Note – Use eWallet Prepaid cards, i am not recommended you to use Credit cards and BNPL cards.

Deal Subedar Deal Subedar
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abhishek012 wrote:

LOL. Use UPI, RuPay debit cards.

If you save 30k on cash then you will save more than 50k on UPI, RuPay debit cards.

For example -

Grocery purchase – You will get huge discount offers on Jiomart, Amazon fresh etc but discount/cashback offers only apply through electronic payment modes. Use UPI and RuPay debit cards.

You are right Cashback offers points trapped us into ever spending nature but this thing only apply on credit cards. you can also use Prepaid cards like Junio RuPay cards or Dhani Freecashback cards etc.

Note – Use eWallet Prepaid cards, i am not recommended you to use Credit cards and BNPL cards.

that 30k is possible because i went to physical stores. Prices are cheaper in dmart and others than jiomart or amazon. 

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playdime wrote:

that 30k is possible because i went to physical stores. Prices are cheaper in dmart and others than jiomart or amazon. 

Jiomart price is too much cheaper.

Anyways Dmart also accept UPI & RuPay debit card or Prepaid cards.

Share your Dmart price - Aashirvaad Atta (5KG), Sugar, Mustard Oil, Amulya, Surf Excel (1.5kg), Parle Real Elaichi Premium Rusk, TATA premium Tea & TATA Gold Tea etc price.

I will compare, i am in loss or profit. 😀

Oh, by d way some people also use Amazon-RuPay Platinum debit card 20% discount add money offer and then buy Reliance Retail gift card to purchase through local Reliance smart/fresh stores + get 10% extra cashback on Reliance purchase and used 20% cashback for previous purchase.

Deal Subedar Deal Subedar
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It really depends on how you use. As said earlier it’s a double edged sword. It helps government to collect taxes. For eg. Restaurants charge you 5% GST on food bill, if you pay by cash they don’t show that bills in sales. And if you pay by card/UPI etc they are forced to show the sales, pay GST and pay income tax. I always make sure of paying restaurants by card only. I am paying taxes, why should they not pay ?

Deal Subedar Deal Subedar
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abhishek012 wrote:

Share your Dmart price - Aashirvaad Atta (5KG), Sugar, Mustard Oil, Amulya, Surf Excel (1.5kg), Parle Real Elaichi Premium Rusk, TATA premium Tea & TATA Gold Tea etc price.

Aashirvaad Atta (5KG) => this time i took pilsbary atta – 29 per kg, bogo.

, Sugar => 31.50

Mustard Oil => not sure as i use sunflower=> 164ltr

Amulya => not sure, is it amul butter? Then 48rs per 100g

Surf Excel (1.5kg) => ariel 4kg 580rs, 

Parle Real Elaichi Premium Rusk => 22rs 

TATA premium Tea => not sure i buy liption green tea 100 dips bogo, => 280 rs.

note the advantage i have seen in dmart is if its bogo you can buy only one for half unlike jiomart etc.

Deal Subedar Deal Subedar
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myfungang829 wrote:

It really depends on how you use. As said earlier it’s a double edged sword. It helps government to collect taxes. For eg. Restaurants charge you 5% GST on food bill, if you pay by cash they don’t show that bills in sales. And if you pay by card/UPI etc they are forced to show the sales, pay GST and pay income tax. I always make sure of paying restaurants by card only. I am paying taxes, why should they not pay ?

thats the overall issue. If you dont demand a gst bill the shops have multiple current accounts with different names registered and they will be in composite schema  its a big topic, deal with it later.

pay by cash demand for a gst bill.

Cool Cool
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I follow a simple principle:- “If you need you buy, if you don’t need don’t buy”. Helped me to save a lot using cc too.

Deal Cadet Deal Cadet
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We’re slowly into the hands of the West. I wonder how people get these types of mindset.

Deal Subedar Deal Subedar
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deep_ wrote:

We’re slowly into the hands of the West. I wonder how people get these types of mindset.

Because of the war effects of russia and just because they need paymenygateways not controlled by west. Just this reason makes them close to evil countries. 

while you calculate household budgets by looking at savings, the companies look for something else.

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tenon09 wrote:

I follow a simple principle:- “If you need you buy, if you don’t need don’t buy”. Helped me to save a lot using cc too.

i believe you are here to buy only needed items for cheaper price.

Edit: Here as in desidime

Deal Cadet Deal Cadet
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I agree with OP on a lot of aspects.
Being in the financial services and investment banking industry for last 3.5 years, I can confidently say that our entire business model exists because people want to buy things they can’t truly afford.

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playdime wrote:

Aashirvaad Atta (5KG) => this time i took pilsbary atta – 29 per kg, bogo.

, Sugar => 31.50

Mustard Oil => not sure as i use sunflower=> 164ltr

Amulya => not sure, is it amul butter? Then 48rs per 100g

Surf Excel (1.5kg) => ariel 4kg 580rs, 

Parle Real Elaichi Premium Rusk => 22rs 

TATA premium Tea => not sure i buy liption green tea 100 dips bogo, => 280 rs.

note the advantage i have seen in dmart is if its bogo you can buy only one for half unlike jiomart etc.

Sugar => 31.50 per KG ? Wow! its really cheap. Hope! The quality would be good too.

Other product price is slightly cheaper on Jiomart.

No, Amulya is Milk powder.

Anyways, dnt use cash, use UPI, RuPay debit cards or ewallet prepaid cards. Pay digitally.

Junio RuPay prepaid card also offer 10% cashback on DMart purchase. Load money and use, 2% extra on UPI load.

Deal Cadet Deal Cadet
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Here you go… I hav 12 credit cards.. My spending in cards is less than 7k in a month including bills, groceries. It all depends on how really you wanted to make use offers.. Even though there is offers, hav a rule- buy what you need, buy only when you need

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playdime wrote:

that 30k is possible because i went to physical stores. Prices are cheaper in dmart and others than jiomart or amazon. 

I don’t agree with you on paying in cash, because there are lots of benifits of online payment methods. But you are right about influence of west, their ideas are implemented all across the world (everyone is growing with their ideas), because of which whatever West do everyone things they are doing right, we are slowly forgetting our cluture..

Deal Lieutenant Deal Lieutenant
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BlueFlash wrote:

Credit card is a doubled-edged sword… It depends on the wielder on how they use it…

Maybe someone should have got stabbed by both the edges to take digital payment sanyasa joy
I think my cards are useful for me rather than harming.

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decideaim wrote:

Maybe someone should have got stabbed by both the edges to take digital payment sanyasa joy
I think my cards are useful for me rather than harming.

as far as I am concerned. No stabbing. But financial realisation happen one day or other. Before it hits I attack is the strategy learned from Russian war.

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playdime wrote:

as far as I am concerned. No stabbing. But financial realisation happen one day or other. Before it hits I attack is the strategy learned from Russian war.

Good for you bro that the financial realisation is helping you save money plus1

You stopped the Russian war strategy in the middle “Before it hits I attack and become a pauper/pariah.”

Deal Cadet Deal Cadet
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I use credit cards only because I am using banks money and not others. In case of any fraud or charge back, my own money is safe. For international transactions, mist banks are buyer friendly.

For my expenses, use only how much you need and always look at outflow of cash, whether it is ok? If you need INR 20 worth items, is it worth spending INR 100 minimum order online and buying it or go down and buy it.

Deal Cadet Deal Cadet
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For me Credit cards, Virtual Prepaid cards, Debit Cards, E wallets, Pay later is blessing as it’s my daily bread earning by rotating money. I run my shop and Travel agency both depending on all these credit lines and cards. Always get lower price than wholesalers. I save time , save fuel, save money ,save energy. I don’t have to buy in bulk.Just single item that too even too much lesser than wholesalers. Flights ,trains tickets hotels at lowest price just because of Credit cards. Too much transactions that I have to tally my statement every 2 days. Annual transactional turn over total is 64 lacks. 50 Percent contribution goes to Desidime. 25 Percent appreciation for contribution goes to @abhishek012

Deal Cadet Deal Cadet
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playdime wrote:

that 30k is possible because i went to physical stores. Prices are cheaper in dmart and others than jiomart or amazon. 

gye na lene? time waste hua na? let deliver people do grocery shopping for you. Upskill yourself so you make more money instead

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noobDealer wrote:

gye na lene? time waste hua na? let deliver people do grocery shopping for you. Upskill yourself so you make more money instead

😄

Deal Subedar Deal Subedar
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 UPI sucks big time , never used nor will bother to use . The time to get failed transaction back is not worth it . They fail so frequently. 

Plus why pay from my own pocket when I can use Banks money  free for 50 days ?

Plus I can park the same money in some liquid  funds to get interest 

Btw CC are only for the most credit disciplined . Most people dont fall in this criteria and I thank god for that. Coz if they did CC business would have been long gone 

Min payment guys are the real heroes . Salute 🙌🏼

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EkdamSastaRaju wrote:

 UPI sucks big time , never used nor will bother to use . The time to get failed transaction back is not worth it . They fail so frequently. 

Plus why pay from my own pocket when I can use Banks money  free for 50 days ?

Plus I can park the same money in some liquid  funds to get interest 

Btw CC are only for the most credit disciplined . Most people dont fall in this criteria and I thank god for that. Coz if they did CC business would have been long gone 

Min payment guys are the real heroes . Salute 🙌🏼

UPI is best payment system in the world. 😀

Use Paytm bank UPI, superfast transaction and if by chance your transaction will get failed then super fast refund, 99%+ success rate.

and last thing all transaction proceed by bank, UPI is just a platform, if your bank server or acquirer bank server can’t handle digital transaction then UPI can’t do anything.

Same way, credit card transactions are also proceed by bank.

Deal Subedar Deal Subedar
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I feel amazed wen ppl post abt getting enhancement in credit limit… I fail to consume even 20% of limit and I keep the limit to lowest so as to avoid risk in case of fraud

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abhishek012 wrote:

UPI is best payment system in the world. 😀

Use Paytm bank UPI, superfast transaction and if by chance your transaction will get failed then super fast refund, 99%+ success rate.

and last thing all transaction proceed by bank, UPI is just a platform, if your bank server or acquirer bank server can’t handle digital transaction then UPI can’t do anything.

Same way, credit card transactions are also proceed by bank.

 UPI has too many parties involved ,  hence transaction failure is very high .

To get back that money we have to continuously follow up as its our own money which is stuck . Waste of time  , waste of interest 


If NCPI can make 99% of  transactions success and instant refund within T+2days without constant nagging then maybe , it will be worth to look into 


If you think UPI is the best payment good , I think its the worst payment .

For it provides no purchase protection , high failure rate and most of all no high discount or RP


Havent checked Paytm , will do once their ban is lifted 




Deal Cadet Deal Cadet
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24karat wrote:

I feel amazed wen ppl post abt getting enhancement in credit limit… I fail to consume even 20% of limit and I keep the limit to lowest so as to avoid risk in case of fraud

There’s a benefit actually. You can use the balance for emergency purpose, say hospital. And for example, 1lakh credit limit & buying 50/80k Laptop will make your credit utilisation ratio 80%. And let me tell you CIBIL report makes a persistent record of highest credit used & total credit limit (say for ICICI). Even if banks increase your limit it’ll forever be in your credit report that highest credit used is 80k. Later if bank increase your credit limit say to 8 lakhs then 80k will seem only 10%, but if you keep your limit to only 1 lakhs, then for lifetime your credit utilisation ratio will be 80%. And new bank may not give you good card / good limit.

Deal Cadet Deal Cadet
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And yes I agree that we should not be too dependent to any foreign payment gateway. Feel proud as an Indian that we have alternative Rupay. Agree with point 6.

Deal Cadet Deal Cadet
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As Warren Buffett said- “If you buy things you don’t need, soon you’ve to sell things you need”

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