https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9133990
First Time in History of Credit Cards , Pay For Increasing Preapproved Credit Card Limit In Kotak
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https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134002
see this.... i know annual fee for credit cards,... but never saw monthly fee fore credit cards.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134008
Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134014
hese wrote:see this.... i know annual fee for credit cards,... but never saw monthly fee fore credit cards.
Card with monthly fees are there from long , ICICI started some time back...
RBL , SCB already have cards with monthly fees from long
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134026
abhishek012 wrote:Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134086
abhishek012 wrote:Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
Hmm. Bilkul sahi kha btw to whom they will charge this fee when majority will surrender their cc in such scenario?
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134156
abhishek012 wrote:Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
While we are at it, make it 500+gst for every 10k increase in credit limit 
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134217
abhishek012 wrote:Fill in the blanks.Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134316
Kotak is a beggar bank.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134331
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134339
abhishek012 wrote:Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
I know that's sarcasm but you do know that banks earn ton of money by using pos both sides, sbi CARD swiping on kotak will generate revenue for both so I hate that ppl are paying annual charge and on top of that they are asking me to pay for increase limit.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134388
Expand
Only 60% of the MDR amount goes to issuer bank.
60% means banks earn 1% or 1.2% only and banks already give more than 1% cashback for credit card spend.
2nd thing, many TSP providers and companies also work with issuers banks, they also get they cuts.
Now card operating cost, card BIN issuing cost, visa/mastercard annual charges, lounge access and other premium services bill also paid by banks.
Banks actually lose money from credit card spend.
Banks only earn money from EMI, interest charges, non-LTF cards and defaulters.
MDR is no profit no loss making business for banks to recover all additional expenses.
CMGG wrote:MDR charges is not a source of income for credit card companies.I know that's sarcasm but you do know that banks earn ton of money by using pos both sides, sbi CARD swiping on kotak will generate revenue for both so I hate that ppl are paying annual charge and on top of that they are asking me to pay for increase limit.
Only 60% of the MDR amount goes to issuer bank.
60% means banks earn 1% or 1.2% only and banks already give more than 1% cashback for credit card spend.
2nd thing, many TSP providers and companies also work with issuers banks, they also get they cuts.
Now card operating cost, card BIN issuing cost, visa/mastercard annual charges, lounge access and other premium services bill also paid by banks.
Banks actually lose money from credit card spend.
Banks only earn money from EMI, interest charges, non-LTF cards and defaulters.
MDR is no profit no loss making business for banks to recover all additional expenses.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134397
Bhikari bank
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134634
Nai chahiye credit limit waise bhi bekaar card hai
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134731
100+gst ka ubala hua aloo khilado ek baar mein in bhookhe banks ko, mazaa a jayega aur phir na maangega...
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134776
Expand
abhishek012 wrote:
MDR charges is not a source of income for credit card companies.
Only 60% of the MDR amount goes to issuer bank.
60% means banks earn 1% or 1.2% only and banks already give more than 1% cashback for credit card spend.
2nd thing, many TSP providers and companies also work with issuers banks, they also get they cuts.
Now card operating cost, card BIN issuing cost, visa/mastercard annual charges, lounge access and other premium services bill also paid by banks.
Banks actually lose money from credit card spend.
Banks only earn money from EMI, interest charges, non-LTF cards and defaulters.
MDR is no profit no loss making business for banks to recover all additional expenses.
How do banks afford to give 5% especially something like sbi cashback with no tie up.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134793
Sooner or later, they will charge for looking at their credit card
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134978
Expand
abhishek012 wrote:
MDR charges is not a source of income for credit card companies.
Only 60% of the MDR amount goes to issuer bank.
60% means banks earn 1% or 1.2% only and banks already give more than 1% cashback for credit card spend.
2nd thing, many TSP providers and companies also work with issuers banks, they also get they cuts.
Now card operating cost, card BIN issuing cost, visa/mastercard annual charges, lounge access and other premium services bill also paid by banks.
Banks actually lose money from credit card spend.
Banks only earn money from EMI, interest charges, non-LTF cards and defaulters.
MDR is no profit no loss making business for banks to recover all additional expenses.
No one wants to know the real thing. People just think that apart from them, everyone is looting in this world.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9134981
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135103
I prefer using lifetime free cards knowing the fact that they are offering low rewards. And almost all cards are lowering down reward values on top of that pre approved limit increase fees.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135458
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135462
Kotak bank is not in line with competition offerings
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135525
abhishek012 wrote:Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
Hope?
Whom are you supporting here? 😳😞
Galat logoka saath na do....
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135554
I was thinking about it when my hdfc cc limit increased by 20% last month, why the banks use the term "free cl upgrade offer"
Now, i got the answer
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135700
dhruvjan21 wrote:This is first of a Kind move by any bank, prior to this no bank has ever charged a single penny for Credit limit inhancement.
I was thinking about it when my hdfc cc limit increased by 20% last month, why the banks use the term "free cl upgrade offer" Now, i got the answer
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9135895
I too got same sms, mentioning to pay 100+GST for limit increase.
Got another msg to upgrade to other worst card by paying 1500 annually.
By seeing above sms I thought Kotak kya maal phuk Raha hey 
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9141403
If there is an oscar for chors, Kotak will get it. Every possible fee can be charged by them, be it savings account or credit card or loan. They can charge a fee for a fee too.
https://www.desidime.com/discussions/first-time-in-history-of-credit-cards-pay-for-increasing-preapproved-credit-card-limit-in-kotak?page=1#post_9142118
brucelee wrote:If there is an oscar for chors, Kotak will get it. Every possible fee can be charged by them, be it savings account or credit card or loan. They can charge a fee for a fee too.
In the meantime
Axis Bank: Hold My beer 
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Only 60% of the MDR amount goes to issuer bank.
60% means banks earn 1% or 1.2% only and banks already give more than 1% cashback for credit card spend.
2nd thing, many TSP providers and companies also work with issuers banks, they also get they cuts.
Now card operating cost, card BIN issuing cost, visa/mastercard annual charges, lounge access and other premium services bill also paid by banks.
Banks actually lose money from credit card spend.
Banks only earn money from EMI, interest charges, non-LTF cards and defaulters.
MDR is no profit no loss making business for banks to recover all additional expenses.
Nice move by Kotak bank, hope other banks will also follow 👍🏼👍🏼
But it should be Rs500+GST for next 1 year. After 1 year banks should decrease the credit card limit, if we dnt pay Rs500+GST.
Bank should also charge Rs1000+GST to Rs10,000+GST for HNI holders. They will happy to pay for increasing their credit card limits.
I know that's sarcasm but you do know that banks earn ton of money by using pos both sides, sbi CARD swiping on kotak will generate revenue for both so I hate that ppl are paying annual charge and on top of that they are asking me to pay for increase limit.