[shashank.nk]

I made a high value transaction using my card and there's a possibility of it being refunded. However, I don't expect the refund to happen before my statement for the month is generated. In this case will I have to pay the entire amount even if the refund is much before the payment date ?

I don't use this card much, so say I've paid the entire due and later my card is refunded, apart from withdrawing at an ATM is there any other way to transfer the funds from the card to my savings account ?

[libranof1987]

Originally Posted by shashank.nk

In this case will I have to pay the entire amount even if the refund is much before the payment date ?

Yes, statement amount has to be paid in full (or minimum amount due if you are okay with interest charges) regardless of that amount (or any other credit) being refunded in the current cycle.

apart from withdrawing at an ATM is there any other way to transfer the funds from the card to my savings account

Using the credit card for cash withdrawal incurs charges, check with your issuing bank. You can't transfer it to any bank account.

If the amount charged is high enough to make it worth the hassle, try
a) cash withdrawal
b) minimum amount due - but check with the bank on the interest

Else, just use the money for usual expenses, or best case scenario, load up Amazon Pay, PayTM and other wallets.

[R2D2]

Originally Posted by shashank.nk

I made a high value transaction using my card and there's a possibility of it being refunded. However, I don't expect the refund to happen before my statement for the month is generated. In this case will I have to pay the entire amount even if the refund is much before the payment date ?

If the transaction isn't reversed on the statement date it will be included in the total outstanding and partly i.e. normally 5% of the transaction value in the minimum amount due.

I don't use this card much, so say I've paid the entire due and later my card is refunded, apart from withdrawing at an ATM is there any other way to transfer the funds from the card to my savings account ?

No you should not withdraw at the ATM because cash withdrawals have heavy interest and other charges. You can request the bank to credit the amount to a bank account of your choice.

[.sushilkumar]

Originally Posted by Samurai

This RBI e-mandate is making it very difficult to subscribe to services from abroad. I was trying to buy a pen testing monthly service, they rejected my card because of e-mandate.

Exactly what I am facing. My One drive subscription is failing each month despite E-mandate. Standard chartered says they cannot see any failed transactions while i can see them on some Sihub.in where they were authorized as recurring transactions.

just wondering if anyone found any solution for play store transactions.

[audioholic]

Originally Posted by shashank.nk

I made a high value transaction using my card and there's a possibility of it being refunded. However, I don't expect the refund to happen before my statement for the month is generated. In this case will I have to pay the entire amount even if the refund is much before the payment date ?

I don't use this card much, so say I've paid the entire due and later my card is refunded, apart from withdrawing at an ATM is there any other way to transfer the funds from the card to my savings account ?

I had got this sort of money transferred back to my account after the statement with negative amount was generated. This was for a HDFC Corporate Airplus credit card in which I would only use for travel expenses when on business travel. Once the travel is over, the bill is settled in the next cycle and after that, no statement gets generated.

However, this one instance, I was supposed to get a refund from an international source due to non usage and that came more than a month later than the statement in which I settled all the expenses. That time a negative balance statement was generated. I thought this will stay as it is until I use the funds, but it was later refunded to my bank account I think by the due date for the payment itself. It would count as a reverse payment.

It made sense since if you get a huge refund, there should not be any obligation to spend the same without getting a refund unless the Terms and Conditions state the same explicitly.

[itwasntme]

Originally Posted by libranof1987

Else, just use the money for usual expenses, or best case scenario, load up Amazon Pay, PayTM and other wallets.

Totally correct. We faced the same situation when we returned a 190K+ paired set of Rado watches, and got back the credit in the next cycle.

All we did was to move all possible expenses to that single card as well as bought the maximum possible Amazon Pay, Bigbasket etc vouchers.

It's amazing how large the monthly figure comes to when collated on a single card!

[Ramon]

Recently SBI Credit Cards had introduced a feature in their App using which you can refund any excess amount (credit balance) in the card to your account

[shashank.nk]

Thanks for the detailed responses everyone. I looked up the ways to withdraw the amount and the only option with my Axis Bank card is to use an ATM and incur 2.5% of transaction value as charges, so thought I'll post here to see if anyone else went through the same and what alternatives are available.

The credit limit is quite healthy, so a refund won't reflect as a credit balance in my statement. I've written a mail requesting a transfer to my savings bank account with them, if that fails will use it for all spends until it gets exhausted.

[speedmiester]

Originally Posted by .sushilkumar

Exactly what I am facing. My One drive subscription is failing each month despite E-mandate. Standard chartered says they cannot see any failed transactions while i can see them on some Sihub.in where they were authorized as recurring transactions.

just wondering if anyone found any solution for play store transactions.

Had same issue with LinkedIn subscription using HDFC card, it used to fail repeatedly inspite of approving the transaction in sihub. Finally moved the payment to Icici card since last three bill cycles, so far no issues.

[Lobogris]

Does anyone know if HDFC reports its secured credit cards (obtained against FD) as ‘secured’ on credit bureau reports? In my experience, I have seen that some banks like Yes Bank and ICICI report them marked as ‘secure’ while others like Indusind and RBL report them as any other regular card.

[alexgv]

Recently when using HDFC Indigo XL Rewards card in Bowring Indian Oil Pump, i notice the change of rs 502.9 was billed as 514.5. Nearly 20% markup for fuel. Anyone else faced similar issue?
To dispute the transaction i need to wait for the monthly statement right?

[Lobogris]

Originally Posted by alexgv

Recently when using HDFC Indigo XL Rewards card in Bowring Indian Oil Pump, i notice the change of rs 502.9 was billed as 514.5. Nearly 20% markup for fuel. Anyone else faced similar issue?

How is Rs 12 20% of 514? It is around 2%.

[alexgv]

Originally Posted by Lobogris

How is Rs 12 20% of 514? It is around 2%.

Right..I mixed up my decimals :(

[Everlearner]

For fuel transactions, a transaction charge is always added to the billed amount. Atleast that's the case with my infinia and Amazon pay ICICI cards.

Whenever I use credit card at a petrol pump, the transaction amount in the statement is more than the amount as per charge slip. The transaction charge then gets refunded as a separate entry in the statement, but the refund is always less than the charge, so I still end up paying a small charge on my petrol transaction.

[dailydriver]

Originally Posted by Everlearner

Whenever I use credit card at a petrol pump, the transaction amount in the statement is more than the amount as per charge slip. The transaction charge then gets refunded as a separate entry in the statement, but the refund is always less than the charge, so I still end up paying a small charge on my petrol transaction.

The tax component of the transaction charge doesn't get reversed/credited back.