SBI Credit card payment information

SBI Credit card payment information

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This is regarding my recent experience with SBI card. I thought It will be helpful to other dimers.

My experience with SBI card

There was a transaction on SBI card which I did 4 months back. I had cleared the due for the transaction at that time. Now this month, I got the refund just after 4 days from bill generation. I cleared the due deducting that amount since total outstanding and unbilled amount was same in SBI card website after the payment. I have been using this card since last 3 years so well aware of SBI card website/system. Also Credit card company considers the merchant refund as the payment if the customer had paid for the transaction. I have personal experience with Amex, ICICI, HSBC. I was charged 5.1k as the penalty in this month statement. I have escalated to SBI Customer care head since I didn’t get proper response from Nodal officer.

I created this post since, many dimes would be expecting 10% cashback (8000 Rs) for GIF. So if 8000 cashback is credited after bill generation but before due date, it might not be considered as the payment. You might need to pay full outstanding as per bill even if you don’t use the card.

Brace yourself. More charges are coming since many banks have posted losses in the last quarter due to NPA

60 Comments  |  
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Deal Subedar
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""So if 8000 cashback is credited after bill generation but before due date, it might not be considered as the payment. You might need to pay full outstanding as per bill even if you don’t use the card.""

this is the always have been the norm followed. you need to pay amount generated in bill.

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Deal Subedar
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Bottom line here – we need to keep an eye on statements. OR ELSE we need to sell our properties to pay bills……….

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“Also Credit card company considers the merchant refund as the payment if the customer had paid for the transaction” – this is not the case with icici too. They mention it explicitly on every refund mail

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rogerthat wrote:

""So if 8000 cashback is credited after bill generation but before due date, it might not be considered as the payment. You might need to pay full outstanding as per bill even if you don’t use the card.""

this is the always have been the norm followed. you need to pay amount generated in bill.

this is considered as the payment if the customer has paid for that transaction before. I have been using credit card since 3-4 years and I have personally experience with Amex, HSBC, ICICI, CITI. Can share the statement if you want.

Hypothetically, if the transaction amount is 1-2 lac and customer has not used the card after that. Why customer should pay 1-2 lac provided if customer has credit of 1-2 lac

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schumacher wrote:

“Also Credit card company considers the merchant refund as the payment if the customer had paid for the transaction” – this is not the case with icici too. They mention it explicitly on every refund mail

yes, they have to

if they do not consider as payment, then in case of high value transaction its too risky

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makeourdeal wrote:

this is considered as the payment if the customer has paid for that transaction before. I have been using credit card since 3-4 years and I have personally experience with Amex, HSBC, ICICI, CITI. Can share the statement if you want.

Hypothetically, if the transaction amount is 1-2 lac and customer has not used the card after that. Why customer should pay 1-2 lac provided if customer has credit of 1-2 lac

i m using my Axis , Bob CC from 4 yrs too.


what i said holds true for these Atleast


any credit after bill generated is counted in next cycle.

maybe the case different banks following different rules.

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schumacher wrote:

“Also Credit card company considers the merchant refund as the payment if the customer had paid for the transaction” – this is not the case with icici too. They mention it explicitly on every refund mail

Their system doesn’t consider but higher officer do consider it.
Amex, HSBC, CITI system itself consider while next bill generation, no manual intervention is required.

My order post for ICICI.
https://www.desidime.com/forums/dost-and-dimes/...

Merchant refunds are not considered as the payment if you have not paid for it.
Otherwise people will just do some transaction and get it cancelled to consider as the payment for last bill.

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rogerthat wrote:

i m using my Axis , Bob CC from 4 yrs too.


what i said holds true for these Atleast


any credit after bill generated is counted in next cycle.

maybe the case different banks following different rules.

because all employees including senior officers are shit in these banks. These banks are using 20th century software and employees don’t have any brain. Their system can’t differentiate between unbilled transaction merchant refund and billed transaction merchant refund.

Even SBI used to consider as payment in this case. I don’t remember now. Need to check old statement. Even interest calculation is not clear in charges. charges comes to 12% on current outstanding amount which comes 106 days interest in the worst case considering 3.39% per month.

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Any refund (no matter the amount and transaction date) credited after bill generation and beford due date of bill payment is considered in next month’s bill only.

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drsa478 wrote:

Any refund (no matter the amount and transaction date) credited after bill generation and beford due date of bill payment is considered in next month’s bill only.

which bank?

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makeourdeal wrote:

which bank?

HDFC. Btw I guess this is the case in most of the banks.

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makeourdeal wrote:

because all employees including senior officers are shit in these banks. These banks are using 20th century software and employees don’t have any brain. Their system can’t differentiate between unbilled transaction merchant refund and billed transaction merchant refund.

Even SBI used to consider as payment in this case. I don’t remember now. Need to check old statement. Even interest calculation is not clear in charges. charges comes to 12% on current outstanding amount which comes 106 days interest in the worst case considering 3.39% per month.

too much frustration is evident .

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drsa478 wrote:

HDFC. Btw I guess this is the case in most of the banks.

and HDFC and ICICI and bob and sbi many more.

these are all using advanced softwares.

this has nothing to do with the technologies but the bill cycle .

there is always a line.

using cc is governed by rules of xxx bank.

no universally accepted rules

billing dates , cashback adjusted , all being followed in different ways.

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rogerthat wrote:

and HDFC and ICICI and bob and sbi many more.

these are all using advanced softwares.

this has nothing to do with the technologies but the bill cycle .

there is always a line.

using cc is governed by rules of xxx bank.

no universally accepted rules

billing dates , cashback adjusted , all being followed in different ways.

Yeah. And have seen in the past, many people gets charged for this particular reason of thinking that refund will be adjusted in the bill amount.

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rogerthat wrote:

and HDFC and ICICI and bob and sbi many more.

these are all using advanced softwares.

this has nothing to do with the technologies but the bill cycle .

there is always a line.

using cc is governed by rules of xxx bank.

no universally accepted rules

billing dates , cashback adjusted , all being followed in different ways.

This is not frustration. I am a software engineer, so I know how these systems work.
As a system, you need to identify the difference between the merchant refund of already paid and unpaid transaction.

Anyway, it is a difference between benchmark people have. For some just using smart phone for calling is a rocket science, but using smartphone app for some work is a real use of advance technology

If most of banks are not having this practice, then how Amex, HSBC, CITI adjusted this without any complaint. In my experience, BOB takes 2 working days for payment reflection. Do you think it is an advance technology?

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drsa478 wrote:

Any refund (no matter the amount and transaction date) credited after bill generation and beford due date of bill payment is considered in next month’s bill only.

True. This is how it works with all the credit card issuers.

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makeourdeal wrote:

This is not frustration. I am a software engineer, so I know how these systems work.
As a system, you need to identify the difference between the merchant refund of already paid and unpaid transaction.

Anyway, it is a difference between benchmark people have. Some just using smart phone for calling is a rocket science, but using smartphone app for some work is a real use of advance technology

If most of banks are not having this practice, then how Amex, HSBC, CITI adjusted this without any complaint.

these are all international banks/products.  their policy is different , it appears to be , as per your experience with cc credit adjusting.

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rogerthat wrote:

these are all international banks/products.  their policy is different , it appears to be , as per your experience with cc credit adjusting.

it is not about policy it is about system they are using.

I talk only logical

ICICI is an Indian company. If this was against the policy then how senior officer reversed the charges in this case.
https://www.desidime.com/forums/dost-and-dimes/...

I have talked with many seniors officials who mention what kind of system limitations they have. There was one Tata Docomo nodal officer who personally remembered me as I had pointed out many issues in their system.

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makeourdeal wrote:

it is not about policy it is about system they are using.

I talk only logical

ICICI is an Indian company. If this was against the policy then how senior officer reversed the charges in this case.
https://www.desidime.com/forums/dost-and-dimes/...

I have talked with many seniors officials who mention what kind of system limitations they have. There was one Tata Docomo nodal officer who personally remembered me as I had pointed out many issues in their system.

XXIII. CREDIT TRANSACTION

A debit for a purchase and a subsequent credit for cancellation of goods / services are two separate transactions. The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied. On cancellation the refund will only be credited to the Card Account (less cancellation charges) as and when received by ICICI Bank. However, on successful submission of credit charge slip by the Card Member, the credit shall be posted to the Card Account. If the credit is not posted to the Card Account within a reasonable time, the Card Member must notify ICICI Bank.


source

https://www.icicibank.com/terms-condition/tnc-f...?



it’s a policy matter.

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rogerthat wrote:

XXIII. CREDIT TRANSACTION

A debit for a purchase and a subsequent credit for cancellation of goods / services are two separate transactions. The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied. On cancellation the refund will only be credited to the Card Account (less cancellation charges) as and when received by ICICI Bank. However, on successful submission of credit charge slip by the Card Member, the credit shall be posted to the Card Account. If the credit is not posted to the Card Account within a reasonable time, the Card Member must notify ICICI Bank.


source

https://www.icicibank.com/terms-condition/tnc-f...?



it’s a policy matter.

The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied.

You not understanding the policy correctly. I had paid for the transaction when it was charged for 4 months back.

The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied.

There is no clarity on the paid merchant refund.

Also many times settlement takes time 2-3 to 6-7 working days.
The reason for mentioning this if the refund is not reflected at the credit card company end before due date even if customer has initiated cancellation before due date. Logically, how credit card company will get to know about the refund if the merchant haven’t inform credit card company.

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makeourdeal wrote:

The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied.

You not understanding the policy correctly. I had paid for the transaction when it was charged for 4 months back. Also many times settlement takes time 2-3 to 6-7 working days.
The reason for mentioning this if the refund is not reflected at the credit card company end before due date even if customer has initiated cancellation before due date. Logically, how credit card company will get to know about the refund if the merchant haven’t inform credit card company.

can you elaborate your problem .

from starting to end from your view point.

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sunnie wrote:

Bottom line here – we need to keep an eye on statements. OR ELSE we need to sell our properties to pay bills……….

1000% true… Interest charges comes to 12-13% excluding GST on total outstanding amount, which comes to 100-110 days of interest period with 3.39% pm.

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makeourdeal wrote:

1000% true… Interest charges comes to 12-13% excluding GST on total outstanding amount, which comes to 100-110 days of interest period with 3.39% pm.

In that case best way is to either pay full or lift hands smile

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Standard Rule is you have to pay minimum pay amount as per statement even if you received the refund. If you are paying more than minimum payment then you can adjust the refund. I am paying in the same way to SBI and other cards, no issues till date

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manishkumar.ca wrote:

Standard Rule is you have to pay minimum pay amount as per statement even if you received the refund. If you are paying more than minimum payment then you can adjust the refund. I am paying in the same way to SBI and other cards, no issues till date

I had paid the more than minimum pay amount. Moreover, use CC as DC, I mean credit the amount first and then transact, you will never face any issue. But that is not the benefit of CC)

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Why complain? CHECK STATEMENT, whatever is the full amount or minimum amount, you have to pay that, no made up amount in your head by yourself. Outstanding amount and others are real time, what you have to pay is what is on the statement, Straight and simple.

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sobirvs wrote:

Why complain? CHECK STATEMENT, whatever is the full amount or minimum amount, you have to pay that, no made up amount in your head by yourself. Outstanding amount and others are real time, what you have to pay is what is on the statement, Straight and simple.

The full payment was done before due date. (Considering my payment + merchant refund which I paid for 4 months back)

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makeourdeal wrote:

The full payment was done before due date. (Considering my payment + merchant refund which I paid for 4 months back)

No considering whatever number you made up. Merchant refund is not considered payment. End of the story. Don’t considered whatever you want to consider.

Whatever amount statement shows (FULL or Min) is the one you need to pay.

Merchant refund is a credit(not a payment -, please understand the difference b/w credit and payment) and it will be adjusted only before “Bill Generation Date” If refund comes on the same date as bill generation date or after, then it will be adjusted in the next month billing cycle.

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sobirvs wrote:

No considering whatever number you made up. Merchant refund is not considered payment. End of the story. Don’t considered whatever you want to consider.

Whatever amount statement shows (FULL or Min) is the one you need to pay.

Merchant refund is a credit(not a payment -, please understand the difference b/w credit and payment) and it will be adjusted only before “Bill Generation Date” If refund comes on the same date as bill generation date or after, then it will be adjusted in the next month billing cycle.

Suppose the customer has 0 outstanding and he made a transaction of Rs 2 lac, but the booking got failed. The merchant processes the refund and credit card company receives it after 5-6 days (before due date). Meanwhile bill was generated with 2 lac. On what basis you expect the customer to pay Rs 2 lac for a failed transaction? (the refund amount is received by the credit card company before due date)?

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