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Onecard- Now you can choose 1st of month as billing date

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Deal Cadet
ansh7

Update your onecard app and you will get option to change your billing date to 1st of every month. This means last date to pay bill will be 18th of that month.

Click on profile icon in right corner of upper side on homescreen of app and go to 'billing details' .

PS- its very useful because many due dates fall in 1st week of the month like slice, postpe, lazypay zestmoney, paytm postpaid etc

1 more feature- You can add your bank account for refund of excess amount in your credit card (valid only if credit amount is beyond 1% of credit limitlimit or Rs 5000- whichever is lower)

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Entertainer Entertainer
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I’m ok with old billing style.

Deal Lieutenant Deal Lieutenant
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- 1st condition is good - changing billing date. This would be convenient for some.

- 2nd condition seems to be incorrect  /Illogical.

You can add your bank account for refund of excess amount in your credit card - valid only if credit amount is beyond 1% of credit limit limit or Rs 5000- whichever is lower.

As per this, if I have paid 12000 in excess, I will get refund of only 1% or 5k whichever is lower. If 1% of my credit limit is only 2k. They will refund 2k and excess amount can be utilised in future.

If anybody can help me understand, would appreciate it. TIA

Shopping Friend Shopping Friend
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Good option. Did it thanks.
Finance Ninja Finance Ninja
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Smak wrote:
- 1st condition is good - changing billing date. This would be convenient for some.

- 2nd condition seems to be incorrect  /Illogical.

You can add your bank account for refund of excess amount in your credit card - valid only if credit amount is beyond 1% of credit limit limit or Rs 5000- whichever is lower.

As per this, if I have paid 12000 in excess, I will get refund of only 1% or 5k whichever is lower. If 1% of my credit limit is only 2k. They will refund 2k and excess amount can be utilised in future.

If anybody can help me understand, would appreciate it. TIA

It's the condition to be eligible for credit refund , not the refund amount.
Deal Captain Deal Captain
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Showing 14th & 20th to me 😬

Deal Cadet Deal Cadet
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Gaurav_G wrote:

Showing 14th & 20th to me 😬

card issued by which bank? @Gaurav_G

Deal Captain Deal Captain
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ansh7 wrote:

card issued by which bank?

Federal Bank
Pro Shopping Friend Pro Shopping Friend
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Smak wrote:
If anybody can help me understand, would appreciate it. TIA
excess amount paid to card should be > 1% of card limit
or
excess amount paid to card should be > 5000

in ur case xcessCredit 12K > 2K(1% of card limit) so u can get 12K to bank

Billing date should be of our choice as per RBI rules so onecard not following RBI guidelines
Deal Subedar Deal Subedar
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caks2006407 wrote:

excess amount paid to card should be > 1% of card limit
or
excess amount paid to card should be > 5000

in ur case xcessCredit 12K > 2K(1% of card limit) so u can get 12K to bank

Billing date should be of our choice as per RBI rules so onecard not following RBI guidelines

If that circular is handy, would you mind sharing the link to the circular? Want to uniform the cycles for all of my CCs

Edit – found the source

https://www.rbi.org.in/scripts/FS_Notification....

CHAPTER – I   , 

10. Billing 

(d) Card-issuers do not follow a standard billing cycle for all credit cards issued. In order to provide flexibility in this regard, cardholders shall be provided a one-time option to modify the billing cycle of the credit card as per their convenience.

Deal Cadet Deal Cadet
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Anyone got limit upgrade? After how many bills? Did you ask for it or via app?

Critic Critic
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Only 22nd option is there for me. Current is 16th. Card issued by SIB.
Finance Ninja Finance Ninja
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I need credit refund ... Thanks...had got 18k refund from flipkart stuck till date.. onecard also became waste no good offers now..
Deal Subedar Deal Subedar
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One card Federal Bank has only two options.... 14th and 20th.....
Deal Cadet Deal Cadet
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agnivo007 wrote:

Anyone got limit upgrade? After how many bills? Did you ask for it or via app?

+1

Critic Critic
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Fanil wrote:

I need credit refund … Thanks…had got 18k refund from flipkart stuck till date.. onecard also became waste no good offers now..

This card has one unique feature since its launch, effectively 0 forex markup for doing online international txns(1% forex markup-1% reward points = 0). I took this card mainly for that reason apart from being full metal card. No credit card, especially newly launched & from small bank/fintech, can afford to keep giving good offers continuously for long.

Finance Ninja Finance Ninja
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guest_999 wrote:
This card has one unique feature since its launch, effectively 0 forex markup for doing online international txns(1% forex markup-1% reward points = 0). I took this card mainly for that reason apart from being full metal card. No credit card, especially newly launched & from small bank/fintech, can afford to keep giving good offers continuously for long.
I get it that it has financial implications but removing all the main offers is not good. Travel offers reduced, bms offer also disappeared, swiggy instamart gone, no sale offers also recently, dineout offer removed etc etc.. this card now not only has pathetic reward points system it also has pathetic offers... As for foreign transactions , i hold fi debit card which by default has zero markup.
Critic Critic
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Fanil wrote:
I get it that it has financial implications but removing all the main offers is not good. Travel offers reduced, bms offer also disappeared, swiggy instamart gone, no sale offers also recently, dineout offer removed etc etc.. this card now not only has pathetic reward points system it also has pathetic offers... As for foreign transactions , i hold fi debit card which by default has zero markup.
I mentioned this earlier also in another thread. Basic point of credit card is not reward points/cb/offer but an interest free period of up to 45 days. If someone is getting some good sale offer on a product but don't have the entire amt to buy that product then using credit card is the way. In India ppl have instead made reward points/cb/offers as the cornerstone of credit cards resulting in such situations where India's biggest banks are forced to change their credit card policies because of rampant misuse(can you imagine how much money is large enough for such banks to make them change their policies?). I am not aware of any major credit card company abroad forced to change their reward program outside of financial difficulties.

Also, it is always suggested to do online txns(especially international ones) using a credit card as they come with better fraud prevention/dispute redressal mechanism(also any international txn refund comes faster to credit card compared to debit card).
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