Pleasant banking with Amex (charge card)
@B@R_0_0_D wrote:
I am enjoying Amex charge card from last 4 years and happy with everything, so thought to share the reasons and experiences.
1- First year it was free, of course to let us enjoy and cherry picking in cc market, which is the norm. Second and third year they waived 75%. Upon telephonic request on spot resolution, just taking the confirmation from senior. Although this time , they waived 100% of charge within flat 3 minutes.
I have happily paid 25% of Rs 4500 (+ service tax) per annum, which is against my blodd being enjoying free cc whole life and staff discount , however I have to recover that in the form of points redemption. They pay 1000 points = rs 250 per month (I.e 3k per annum) in addition to normal points. Points redemption is very easy and transparent. Points can be used during purchase of any online shopping and through site /app against credit in cc.
2- No email I’d for general matters only separate till free nos. For each type of cards. Normally I have to call once in year for fee waiver except 2 disputes.
Is this ur story ?
2 disputes each year?
is it true ?"@B@R_0_0_D":http://www.desidime.com/users/2186 wrote:I am enjoying Amex charge card from last 4 +years and happy with everything, so thought to share the reasons and experiences.
1- First year it was free, of course to let us enjoy and cherry picking in cc market, which is the norm. Second and third year they waived 75%. Upon telephonic request on spot resolution, just taking the confirmation from senior. Although this time , they waived 100% of charge within flat 3 minutes.
I have happily paid 25% of Rs 4500 (+ service tax) per annum, which is against my blood being enjoying free cc whole life and staff discount , however I have to recover that in the form of points redemption. They pay 1000 points = rs 250 per month (I.e 3k per annum) in addition to normal points. Points redemption is very easy and transparent. Points can be used during purchase of any online shopping and through site /app against credit in cc.
2- No email I’d for general matters only separate till free nos. For each type of cards. Normally I have to call once in year for fee waiver except 2 disputes.
Of course @asoka
-———
3- Their executives are always well behaved and before starting conversations usually let’s u cool down and talk in friendly manner. ( means they r properly trained to attend customers and knows to attend them in jolly manner, without dominating and have full product knowledge). At least , on 2 occasions I got so friendly chat with them, which I cant even expect with a friend (casual ) or other call centers, I will share those instances as
A. Once I called them on year end, which happens to be party day aka 31- 12, the executive asked about the party plans and fun , although handling with query resolution smoothly.
B. Last time I called up for waiver , I did not expected the full waiver. Executive started with blah blah benefits u enjoy round the year which can save u 10 k per year. However, ultimately given 100% and asked me to send pizza to them as a party. Of course which was prank, which I can’t respond well.
@bargainhunter wrote:
2 disputes each year?
4- let me explain the disputes, which is not related to Ames at all and they were stringent against those.
a. I got a debit of rs. 300-400 roughly from unknown company ( later on turned out as magzter and renewal of sub’s. for approx. USD 8), I raised the dispute and they suggested to block the card. I was apprehensive for blocking and waiting for new card for 15. days and memorizing new card no. However, I have agreed hesitantly as a sole option. I got new card in 7 days, withing 7 days and no question asked , without any charges. This shows their compliance and security features. I have used the magzter for one service and trapped under their auto renewal feature.
I was using amex online and got suspicious over 4 transaction the. Cc avenue for very odd figures like 1032.14, 1034.23, 1034.67 , 1125.79 on a single day and no name of the merchant shown in the statement. Normally, I don’t spend this way. Actually I have done the transactions on 28th Jan, 29th Jan, 30th jan and 31st Jan, which they were showing done on 6th Feb in a single day. ( I could not recall any such tr.) I made the dispute and hence they happily reversed the entry and put the amount under suspension.They have not released the Payment to cc avenu and cc avenue not released to the merchant Greencart for 6 months, till the final confirmation. Amex lift the suspension and Dr my axcount after sending me the proof of delivery of groceries and order copies ( a huge bunch of xerox submitted by Greencart to satisfy them with signed acknowledgement of mine). So, this shows their commitment towards customer.
Interesting. Thanks for posting! I never had Amex card before. I saw them on Amazon or some sites. Are those the same card? How does one apply for such cards? And are they still worth it? Do they support international payment?
5- initially I was having problem for entering full address as an additional check like vbv. I discussed once with the staff, they told they r working on it and shall introduce something in place of address , which is difficult to match by system due to comma, dash etc. They have introduced safekey with OTP , much earlier than any other bank , only HDFC started later as a option ( vbv /OTP). This is to show their product knowledge. I was having dis-belief over the staff fir being serious in removing address feeding for all online transactions. ( 2-3 year back).
@sidbhai wrote:
Interesting. Thanks for posting! I never had Amex card before. I saw them on Amazon or some sites. Are those the same card? How does one apply for such cards? And are they still worth it? Do they support international payment?
Yea, international Dr. Is allowed , but without OTP .
Its risky if u failed to notice any suspicious transaction. They might have target profile for offering card. We usually get promotion mails or u can look for site American express.co.in.
@B@R_0_0_D wrote:@sidbhai wrote:
Interesting. Thanks for posting! I never had Amex card before. I saw them on Amazon or some sites. Are those the same card? How does one apply for such cards? And are they still worth it? Do they support international payment?
Yea, international Dr. Is allowed , but without OTP .
Its risky if u failed to notice any suspicious transaction. They might have target profile for offering card. We usually get promotion mails or u can look for site American express.co.in.
What is this 25% charge you talked in your earlier post? Can you elaborate on that? I am tempted to get another card with less upper limit exclusively for shopping. Yeah – international transaction has no OTP. All I fear is one day I will have some suspicious transaction of massive amount. Hence a new card will be useful.
When they levy annual charge it is 4500 + 652 for service tax. , if they waive 75% means u have to pay 25% of total which is nearly 1300 pa, but no surety of that, at least u can request them to close the cc without any further charge and cancelling the renewal
However, gold charge card offers 1000 points per month if u r able to do 4 transactions per month (> each above 1000), they count month from 1-31/30, ie calendar month.
So its a neat saving of 1700 per year in addittion to normal reward points.
Caution
1. I am using charge card , which ia not a credit card means no revoling of dues, no EMI.
2. They waive the fee based upon payemt record.
3. They did not put any upper limit for using the card , practically the upper usage monitored thr. System only . they might be monitoring large value transaction/jewellery or international debits normally.
@B@R_0_0_D wrote:
When they levy annual charge it is 4500 + 652 for service tax. , if they waive 75% means u have to pay 25% of total which is nearly 1300 pa, but no surety of that, at least u can request them to close the cc without any further charge and cancelling the renewal
However, gold charge card offers 1000 points per month if u r able to do 4 transactions per month (> each above 1000), they count month from 1-31/30, ie calendar month.
So its a neat saving of 1700 per year in addittion to normal reward points.
Caution
1. I am using charge card , which ia not a credit card means no revoling of dues, no EMI.
2. They waive the fee based upon payemt record.
3. They did not put any upper limit for using the card , practically the upper usage monitored thr. System only . they might be monitoring large value transaction/jewellery or international debits normally.
Thats Good . just a question what you have said as an excuse to waive the charges .. do we have to request ?
For waiver , I say that I have many other cards with huge limit, all of them r free , so why should I pay for the similar facility ?
If u Dont waive, I may think about renewing or not renewing ! Pretty simple in polite way. That’s all.
Thanks for the share @B@R_0_0_D
Not really interested in Amex cards though…
din me read krunga..achi post he maja arha thodi c read kia to 
Apply for another Platinum Reserve card and merge points of both the cards you will earn 2000 points every months for 4 transactions of above Rs 1000/- on each card. (I usually use it on paytm and back to my account) and get 7500 worth gift card from AMEX twice each year man. U can use at any merchant instead of conversion of points to pay at Points/4, Redeem against gift card @ points/2.4 almost.
@syed_muzakkir786109 wrote:
Apply for another Platinum Reserve card and merge points of both the cards you will earn 2000 points every months for 4 transactions of above Rs 1000/- on each card. (I usually use it on paytm and back to my account) and get 7500 worth gift card from AMEX twice each year man. U can use at any merchant instead of conversion of points to pay at Points/4, Redeem against gift card @ points/2.4 almost.
Wonderful, redemption against card is also
4 point = 1INR OR seems better ?
Redemption to be allowed on each card separatly or some merging facility is there ?
Whether they waive thee fee if 10k per annum ?
@syed_muzakkir786109 wrote:
Apply for another Platinum Reserve card and merge points of both the cards you will earn 2000 points every months for 4 transactions of above Rs 1000/- on each card. (I usually use it on paytm and back to my account) and get 7500 worth gift card from AMEX twice each year man. U can use at any merchant instead of conversion of points to pay at Points/4, Redeem against gift card @ points/2.4 almost.
Amex Gold is best in first year
12000 points (spend Rs. 1000, 4 times every month)
+
1000 (Standing Instruction once)
+
1000 points (Earn 1 Membership Rewards Point for every 1 Rs.50 spent)
+
5000 (intro points on annual fee payment)
.i.e. minimum 19000 points which makes you eligible for 7500 against 1st year fees of Rs. 1000
one can always close card in 13th month or ask for fee reversal or reduction…
Then next year onwards it good only if you get fee waiver or reduction as fee reduces overall benefit
- – - -
One more card is lucrative if one is travel freak and travels by Indigo
American Express Platinum Travel Credit Card
Under current new scheme, Get Rs.500 IndiGo Voucher on becoming eligible and an additional Rs. 500 IndiGo voucher on final card approval
Spend Rs.1.90 lacs in a year and get IndiGo Vouchers worth more than Rs.7,700
Spend Rs.4 lacs in a year and additionally get IndiGo Vouchers worth more than Rs.11,800
Also get a voucher worth Rs.10000 from the Taj Group
- – - –
Visit following thread also
http://www.desidime.com/forums/freebies-all-fre...
For super rich people, they have stopped providing entry level payback card now
9 MISTAKES WE MAKE USING OUR CREDIT CARDS
Credit cards are lovely. They give us the freedom to experience things without stressing too much about the money aspect of it. Credit cards really help us out, whether it’s buying the awesome television we always dreamed of or taking that vacation we longed for.
But the convenience it offers also aids in clouding our judgement. Acting as a safety net for our desires in life, credit cards are also big time trouble makers. It is like a honey-trap that often lands us in situations we try our best to avoid.
Here are some really helpful credit card hacks that’ll help you walk the fine line without unknowingly tipping over to the dark side of greedy banks.
1. Late bill payments
9 Critical Credit Card Mistakes You Didn’t Know You Were Making
It is, of course, better than not paying your bill at all, but not a lot. Two things happen when you pay your bills late. You are levied a penalty worth a substantial amount, most often costing more than your minimum payment amount. Secondly, not paying up on time affects your credit score, which might not be a problem now, but will be a big problem when you apply for loans of a large sum, like a house loan or car loan.
2. Making minimum payments
Banks do give you the option of paying a nominal sum as a ‘minimum payment’ on your purchase every month but it’s not something you should fall for. The interest that banks charge on your outstanding amount is quite high, and if you keep paying just the minimum amount, you would end up shelling out a lot more as interest. Many times even more than the actual value of the product. So best practice would be to save by cutting costs on other things and pay as much of the bill as you can. Remember, more the amount, more the interest.
3. Some of us get way too many cards
Credit cards are a boon when in need. But the greedy bunch that we are, we always ‘need’ more. Which is great for the banks, but definitely not for us. It is simple logic, more credit cards means more spending, more spending means deeper debt. Additionally, it also affects your credit score and the annual fees also adds to your expenditure. Having one card is ideal because it’s much easier to track with all your expenses in one place. Credit is not an added income so getting another card when you max out your limit on one is not the solution. It’ll only make things worse.
4. Using a credit card for everyday items
Until and unless you’re caught in a massive shitstorm in life, you should be able to pay for your basic necessities with your monthly salary. Using your cards for purposes like buying groceries and paying off utility bills is often the first step of losing control of your spending. You don’t wish to make the Rs 100 you spent buying vegetables cost you Rs 1000 with interest, do you? Not using your card will also help in keeping your expenses under control. Keep your cards for a purchase that you perhaps don’t wish to make with the money you have. Like buying electronics or getting flight and hotel tickets.
5. Ignore the T&Cs
Scratch that. In fact, never ignore the T&Cs of card companies. Actually, never ignore the T&Cs of anything that involves money because more often than not, the devil is in the detail. Most often, we only end up signing for additionals we didn’t know and definitely didn’t need. So make sure you read all the documents thoroughly, even twice for that matter, just so it doesn’t backfire at a later stage.
6. Exceed your credit limit
It’s self-explanatory really. Like mentioned before, a big amount means a bigger interest rate. So never bite off more than you can chew.
7. Ignoring monthly statements
Never, ever ignore your monthly statements. Not knowing how much you owe to the bank can very quickly land you in a lot of trouble. Be aware of your monthly statements to know where and what you’re spending on, if you’re being charged for something you didn’t purchase, and to keep a check on your budget. It is always important to know where you stand and the monthly statements will help you get a grip on things.
8. Using card to withdraw cash
This is the worst of the lot. A number of people still use their credit cards as debit cards to withdraw cash from the ATM. Any cash withdrawn from the ATM is considered ‘cash advance’ by the banks. It’s considered more like a short term loan. A loan doesn’t come without interest and cash withdrawals attract a mammoth interest rate. So don’t even think of touching your credit card at an ATM unless it’s a matter of life and death. Stick to your debit cards otherwise.
9. Thinking foreign transactions are the same as domestic ones
Each bank has different exchange and transaction rate. So before you make a transaction while traveling abroad, make sure you check and use the card that gives you the best rates.
@B@R_0_0_D wrote:
9 MISTAKES WE MAKE USING OUR CREDIT CARDS
Credit cards are lovely. They give us the freedom to experience things without stressing too much about the money aspect of it. Credit cards really help us out, whether it’s buying the awesome television we always dreamed of or taking that vacation we longed for.
But the convenience it offers also aids in clouding our judgement. Acting as a safety net for our desires in life, credit cards are also big time trouble makers. It is like a honey-trap that often lands us in situations we try our best to avoid.
Here are some really helpful credit card hacks that’ll help you walk the fine line without unknowingly tipping over to the dark side of greedy banks.
1. Late bill payments
9 Critical Credit Card Mistakes You Didn’t Know You Were Making
It is, of course, better than not paying your bill at all, but not a lot. Two things happen when you pay your bills late. You are levied a penalty worth a substantial amount, most often costing more than your minimum payment amount. Secondly, not paying up on time affects your credit score, which might not be a problem now, but will be a big problem when you apply for loans of a large sum, like a house loan or car loan.
2. Making minimum payments
Banks do give you the option of paying a nominal sum as a ‘minimum payment’ on your purchase every month but it’s not something you should fall for. The interest that banks charge on your outstanding amount is quite high, and if you keep paying just the minimum amount, you would end up shelling out a lot more as interest. Many times even more than the actual value of the product. So best practice would be to save by cutting costs on other things and pay as much of the bill as you can. Remember, more the amount, more the interest.
3. Some of us get way too many cards
Credit cards are a boon when in need. But the greedy bunch that we are, we always ‘need’ more. Which is great for the banks, but definitely not for us. It is simple logic, more credit cards means more spending, more spending means deeper debt. Additionally, it also affects your credit score and the annual fees also adds to your expenditure. Having one card is ideal because it’s much easier to track with all your expenses in one place. Credit is not an added income so getting another card when you max out your limit on one is not the solution. It’ll only make things worse.
4. Using a credit card for everyday items
Until and unless you’re caught in a massive shitstorm in life, you should be able to pay for your basic necessities with your monthly salary. Using your cards for purposes like buying groceries and paying off utility bills is often the first step of losing control of your spending. You don’t wish to make the Rs 100 you spent buying vegetables cost you Rs 1000 with interest, do you? Not using your card will also help in keeping your expenses under control. Keep your cards for a purchase that you perhaps don’t wish to make with the money you have. Like buying electronics or getting flight and hotel tickets.
5. Ignore the T&Cs
Scratch that. In fact, never ignore the T&Cs of card companies. Actually, never ignore the T&Cs of anything that involves money because more often than not, the devil is in the detail. Most often, we only end up signing for additionals we didn’t know and definitely didn’t need. So make sure you read all the documents thoroughly, even twice for that matter, just so it doesn’t backfire at a later stage.
6. Exceed your credit limit
It’s self-explanatory really. Like mentioned before, a big amount means a bigger interest rate. So never bite off more than you can chew.
7. Ignoring monthly statements
Never, ever ignore your monthly statements. Not knowing how much you owe to the bank can very quickly land you in a lot of trouble. Be aware of your monthly statements to know where and what you’re spending on, if you’re being charged for something you didn’t purchase, and to keep a check on your budget. It is always important to know where you stand and the monthly statements will help you get a grip on things.
8. Using card to withdraw cash
This is the worst of the lot. A number of people still use their credit cards as debit cards to withdraw cash from the ATM. Any cash withdrawn from the ATM is considered ‘cash advance’ by the banks. It’s considered more like a short term loan. A loan doesn’t come without interest and cash withdrawals attract a mammoth interest rate. So don’t even think of touching your credit card at an ATM unless it’s a matter of life and death. Stick to your debit cards otherwise.
9. Thinking foreign transactions are the same as domestic ones
Each bank has different exchange and transaction rate. So before you make a transaction while traveling abroad, make sure you check and use the card that gives you the best rates.
-————————-
All is fine if you use credit card like a debit card, so don’t agree with 4.
@disclaimer of above
Use card for everything,
But it should be in ur control
@disclaimer wrote:
For super rich people, they have stopped providing entry level payback card now
that entry level payback card had heavy fees with no corresponding benefits
Using icici card since 08’ wid no annual fee….
Not much additional benefit apart from payback points….
But didn’t pay single penny yet such as joining fees or annual charges.
@sharma_ji wrote:
Using icici card since 08’ wid no annual fee….
Not much additional benefit apart from payback points….
But didn’t pay single penny yet such as joining fees or annual charges.
Those were the days!!! All banks provided life long free cards. Payback points no more attractive after levy of redemption charges.
@disclaimer wrote:Icici used to have imint membership which was additional rewards. Which was inturn acquired by London based loyalty rewards Payback.@sharma_ji wrote:
Using icici card since 08’ wid no annual fee….
Not much additional benefit apart from payback points….
But didn’t pay single penny yet such as joining fees or annual charges.
Those were the days!!! All banks provided life long free cards. Payback points no more attractive after levy of redemption charges.
ICICI having collaboration started issuing cards with payback points.
But at that time also they had few cards with handpicked rewards which are different from payback. And much much more lucrative. For 1250 points you get 1000 gift Voucher.
Still same ratio. Luckily my card was icici Amex gold card which they now renewed to icici Rubyx signature visa card with same benefits.
@A2Zdeals wrote:@disclaimer wrote:Icici used to have imint membership which was additional rewards. Which was inturn acquired by London based loyalty rewards Payback.@sharma_ji wrote:
Using icici card since 08’ wid no annual fee….
Not much additional benefit apart from payback points….
But didn’t pay single penny yet such as joining fees or annual charges.
Those were the days!!! All banks provided life long free cards. Payback points no more attractive after levy of redemption charges.
ICICI having collaboration started issuing cards with payback points.But at that time also they had few cards with handpicked rewards which are different from payback. And much much more lucrative. For 1250 points you get 1000 gift Voucher.
Still same ratio. Luckily my card was icici Amex gold card which they now renewed to icici Rubyx signature visa card with same benefits.
Payback is owned by a subsidiary of Amex.
Earlier for many cards 1300 pts were redeemed for Rs.1000 vouchers, but no longer the case.
Seems you are a high value transactor. Amex Gold and Icici rubyx card holder!!
@B@R_0_0_D wrote:
I am enjoying Amex charge card from last 4 +years and happy with everything, so thought to share the reasons and experiences.
1- First year it was free, of course to let us enjoy and cherry picking in cc market, which is the norm. Second and third year they waived 75%. Upon telephonic request on spot resolution, just taking the confirmation from senior. Although this time , they waived 100% of charge within flat 3 minutes.
I have happily paid 25% of Rs 4500 (+ service tax) per annum, which is against my blood being enjoying free cc whole life and staff discount , however I have to recover that in the form of points redemption. They pay 1000 points = rs 250 per month (I.e 3k per annum) in addition to normal points. Points redemption is very easy and transparent. Points can be used during purchase of any online shopping and through site /app against credit in cc.
2- No email I’d for general matters only separate till free nos. For each type of cards. Normally I have to call once in year for fee waiver except 2 disputes.
+1
I am using Amex card for past 4 months, only risk I see is while making payment card number and amount will not default and we have to enter manually, worry is what if we enter 1 wrong number, whether it will goes to other member or payment will be reversed.
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I am enjoying Amex charge card from last 4 +years and happy with everything, so thought to share the reasons and experiences.
1- First year it was free, of course to let us enjoy and cherry picking in cc market, which is the norm. Second and third year they waived 75%. Upon telephonic request on spot resolution, just taking the confirmation from senior. Although this time , they waived 100% of charge within flat 3 minutes.
I have happily paid 25% of Rs 4500 (+ service tax) per annum, which is against my blood being enjoying free cc whole life and staff discount , however I have to recover that in the form of points redemption. They pay 1000 points = rs 250 per month (I.e 3k per annum) in addition to normal points. Points redemption is very easy and transparent. Points can be used during purchase of any online shopping and through site /app against credit in cc.
2- No email I’d for general matters only separate till free nos. For each type of cards. Normally I have to call once in year for fee waiver except 2 disputes.