Instant Discount Trap On Credit Card

227°
Deal Cadet
Desidime User

I have come to notice that we cardholders are getting into mania to get instant discount on credit card. In this process we keep lot of LTF garbage credit cards to get so called 10% instant discount. These garbage cards don't have any attractive core reward structure or banks might have killed these cards by devaluation.

Instant discount offers are designed as trap which require minimum purchase of 5k or 3k to get instant discount. Do not make unnecessary purchase to meet minimum purchase limit. Do not keep garbage card to get only into this trap. If banks decide to make any card garbage, it's not your duty to keep that garbage at home just because it's free. There are also lot of TnC for instant discount, like cobrand card not accepted and no reward point after instant discount.

To summarize, this is Sales strategy by banks to make profit out of Garbage cards by instant discount which last only for week.

Pick Heavenly cards which gives you heavenly return as per you spending pattern. To do that you need to do deep research.

Prefer core cashback or reward, this is what you get 24x7.

Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Hotshot Hotshot
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what i do is i maintain Wishlist and only buy in offer times. by maintaining Wishlist for 2-3 months you can get discount as well as time to think if you really need it or not. As for cc I hold around 15-20 of most banks to get 10% off. problem is you have to know how to use cc which most people dont, Till now I have in my 7-8 year cc journey never bought a item in emi nor have defaulted on any payment

Deal Cadet Deal Cadet
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I think it's your problem if you shop every time when you see a instant discount sale, i have to buy home furniture and all this sales i shopped for around 20L, these instant discounts saved me a 2L in Just a single month. So instead keep control on your impulsive buying & FOMO.

Deal Cadet Deal Cadet
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Our relationship with banks is business, not romantic relationship. If banks screw customers, we can screw back

Deal Lieutenant Deal Lieutenant
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when or how did romance come into play by holding LTF cards? or more number of cards?


btw LTF cards are not bad smile


if you know how to handle multiple cards, then LTF is best

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Deal Subedar Deal Subedar
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Yes, it's a real fact.  plus1  it's better to maintain a single credit card in case of emergency.

Deal Cadet Deal Cadet
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It's not about single card, we can keep multiple cards. But all cards should be beneficial 24x7

Hotshot Hotshot
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what i do is i maintain Wishlist and only buy in offer times. by maintaining Wishlist for 2-3 months you can get discount as well as time to think if you really need it or not. As for cc I hold around 15-20 of most banks to get 10% off. problem is you have to know how to use cc which most people dont, Till now I have in my 7-8 year cc journey never bought a item in emi nor have defaulted on any payment

Deal Cadet Deal Cadet
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Exactly my point. Banks encourage you to make unnecessary purchase with CC instant discount. Buy only the things you need with CC.

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Deal Cadet Deal Cadet
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I think it's your problem if you shop every time when you see a instant discount sale, i have to buy home furniture and all this sales i shopped for around 20L, these instant discounts saved me a 2L in Just a single month. So instead keep control on your impulsive buying & FOMO.

Deal Cadet Deal Cadet
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HAHA, you can find such user like.. Imperial penny in my previous thread. He or She I don't know, keep collecting garbage LTF cards to make unnecessary purchase with CC instant discount
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Deal Lieutenant Deal Lieutenant
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Let me guess, your inspiration for this post is coming HDFC floater card stripped from instant discount, recent devaluation i guess


btw its not wrong to keep holding LTF cards which dont have huge limits (it wont affect anything if you dont have huge limit locked in LTF) 


I suggest keep all the cards if its LTF -> PROVIDED LIMIT IS NOT HIGH to avoid over leverage condition



Side note: Even if limit is high IN LTF CARDS, we can reduce it by calling customer care and still keep LTF cards in our stack

NEVER CLOSE A CREDIT CARD EASILY (is my personal opinion)

Deal Cadet Deal Cadet
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My inspiration for this post comes after seeing instant discount mania of cardholders. Banks take this opportunity to push thier donkey cards to donkey people. I have LTF cards, which are really good, you know me DEEP


Deal Cadet Deal Cadet
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Our relationship with banks is business, not romantic relationship. If banks screw customers, we can screw back

Deal Lieutenant Deal Lieutenant
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when or how did romance come into play by holding LTF cards? or more number of cards?


btw LTF cards are not bad smile


if you know how to handle multiple cards, then LTF is best

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Deal Cadet Deal Cadet
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Here is example of instant discount trap by random bank. You need to analyze your need and also Tnc. You need to make minimum purchase to get instant discount. Sometimes this minimum purchase limit is high. Don't stretch your budget to meet this limit. Also analyze what will be final discount on fare deducting convenience fee. You may get better deal at EMT with zero convenience fee and core reward of CB card. For hotel, don't stress budget for room rent to get instant discount. I get such instant discount mails daily on my all cards for various products. So, there is no shortage of offers that i have to keep dozens of credit card.

Screenshot2024-11-06-13-43-41-849com.microsoft.office.outlook

Deal Cadet Deal Cadet
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Total bus prices are double regular price 600-800 not sure what is the occasion now for1200 or 1400 ticket you can get 180 discount if you have Indus CC see how useful. Just know I check seat layout no visible on yatra. There offer from HSBC as well

Comrade Comrade
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I dont find problem except Minimum purchase value. If banks giving instant discounts, one can not see it as a trap. Also i disagree on calling banks and users ### just because they having credit cards "Banks take this opportunity to push thier donkey cards to donkey people." These days getting credit card itself is not easy. Many rejections are there.

Deal Cadet Deal Cadet
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Buy whatever you want from your CC, don't cry after you fall into debt trap
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Deal Cadet Deal Cadet
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People complain about everything. It is not a trap. It is you who will decide to spend or not. Bank has just communicated it you can unsubscribe if you don't want those emails why blame the bank? There is in fact a easy trick for 5k spend apply common sense you can figure it out.

Deal Cadet Deal Cadet
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You don't have brains to understand banking trap. I was talking about offers not mails. You better mind your own business and stay out of my post. Your comments are useless.

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Finance Mentor Finance Mentor
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People here are making money by purchasing items for other users using their instant discount card. They charge a commission of Rs. 200 to Rs. 400, depending on the instant discount offer.

Hey balak, jise tum narak (hell) samajh rahe ho wohi swarg (heaven) hai.

phir-hera-pheri-paisa-hi-paisa-hoga

Pro Community Angel Pro Community Angel
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Aur chilla chillake sab ko scheme batado 😉
Deal Cadet Deal Cadet
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LTF is lobh, no problem. I hold a SBI simplysave for 590 a year, use it to get 10% card discount in sales. Lend this card for friends' purchases in sales. Similarly, friend shares their uncommon cards like HSBC, DBS, BMS, KOTAK Myntra when I need for sales. Everyone in the circle got some cards which we share during sales. So it gets well utilised. 

Deal Cadet Deal Cadet
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Finally his account got deleted?

Benevolent Benevolent
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😂lol account deleted 

Deal Cadet Deal Cadet
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customer care closed his credit cards and desi dimer account  as well 😂
Benevolent Benevolent
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You are approaching it the wrong way. Most LTF cards are meant to be taken and kept at the back of your drawer.

When sales happen, you need to first identify what your really need. Then see which card gives the best offer and use it. Not the other way round.

replyuser
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