OneCard (Secured) CC - To Continue or Discontinue?
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I've been living in my hometown, Patna, since 2020 after pandemic hit. So, I took OneCard (secured) credit card by creating FD of Rs. 1 lac, Rs. 50k would've been fine too in my opinion.
At the time of taking it, there was an issue, I was being shown 7.5% interest rate FD but after creation, it changed to 6.4%. I fought hard with them and they gave 10,000 reward points as compensation which eventually made it 7.4% interest rate FD.
Cut short to today, the renewal date for FD is on 7th November, 2023 and I use OneCard mostly for instant discounts and fuel transactions. Since I'm using a scooty, one-time fuel purchase doesn't go beyond Rs. 300 or Rs. 350 at maximum. In such cases, this credit card comes in handy even if the usage case is very narrow.
I did try emailing OneCard team to change my card to unsecured one as it's not feasible for me to continue parking that much amount in FD. I even suggested them to either change the FD amount to Rs. 50k at the time of renewal but they're pretty much not even listening.
I wouldn't mind keeping the credit card lifetime free but I don't even know if they're ever going to change my secured credit card to unsecured one.
If anyone has successfully negotiated with them for changing card type from secured to unsecured, please let me know.
If anyone got their FD amount reduced, please let me know.
If anyone got OneCard to agree to their terms by retention team, please let me know.
I would've closed the card but their rule that I can't ever take OneCard again is the pain point.
Also, if anyone has any point of contact / email address / contact number of higher official who can help, please let me know.
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It won't be a big deal closing the card, dishonesty is over and above anything for me.
just close it and move to other cards - teach them lesson
UPDATE :
I put up a post on X (formerly Twitter), here's the link for it : https://twitter.com/sahil1033/status/1718248258567368939
Immediately I got a call back from one of the representatives and had almost an hour long talk. I specified everything, even gave them 4 options (workaround) yet they didn't budge even a bit.
I'll give them a call on 7-Nov-2023, on the day of renewal of FD and even then they won't be able to do anything, I'll part ways with them, as simple as that.
I got this credit card with minimum FD of Rs 2k just to get the referral cashback. Used it mostly for Zomato, Swiggy offers and for fuel. After using it for sometime, I wanted to increase the FD as I can't use it for most of the offers due to small limit. But I am not able to increase the FD. It get failed everytime. Tried for atleast 10-12 times. Everytime, the amount is refunded after 2-3 days. Customer care is also of no clue on this issue.
So, I gave up on this and using it just for small offers.
onecard is unsecured LTF .. otherwise no point in taking this stupid card
UPDATE :
I closed the card on 8th November, 2023 by raising a ticket within the app which was honoured a day or two later because they goofed up and didn't take action on closure request right away, instead replied to my previous query I had sent via email.
Long story short, I was instantly kicked out from the app and could no longer see any detail whatsoever. Since I had paid off my bill and didn't make any transaction later on, things went smooth, I was careful enough to take necessary screenshots for proof later on.
By the time of closing the FD, new FD was renewed exactly on 7th November, 2023 at the current FD rate for an year.
On 13th November, 2023, got the maturity amount as promised refunded back to account through which payment for FD was made.
If at later point of time OneCard allows to onboard previous customers and I'm offered LTF unsecured credit card, I may choose to take it, else I won't even try with another mobile number and email address as I've heard from someone that by this method, one can get OneCard again but my guess is, if they'll cross check with PAN then it will be evident that it's an existing customer.
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They won't change OneCard from secured to unsecured.
So now you can decide for youself if you want to keep it or close it.