Credit Cards News

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Shall we gather all the credit card news in this thread.

With so many credit cards coming up (including our very own Jupiter credit cards) and so many news related to credit cards, I hope one place to see them all would be great.

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No joining fees & No annual fees
Reward rate: 3% on online food delivery, ride hailing apps, online ticketing & 1% on everything else
Max monthly rewards: Rs.1500
Lounge access: 4 domestic airport lounges per year
RuPay/UPI: Yes

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Can you tell what does it say in short?

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In simple, it says, if you are opting for a co-branded card, opt because you love that particular brand/company and to show your affection or loyalty towards that brand, rather than solely for the sake of rewards (never opt for rewards purpose) :grin: :laughing:

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Here you go… Courtesy of Google Bard.

The HDFC-Swiggy credit card offers 10% cashback on Swiggy food orders, Instamart orders, Genie services, and DineOut bookings, but users have complained that they have not been receiving the full cashback amount. The cashback is also capped at ₹1,500 per month. Other features of the card include 5% cashback on e-commerce spends and 1% cashback on everything else, capped at ₹1,500 and ₹500 per month, respectively. Users also get a 3-month membership of Swiggy One for ₹1,299 as a welcome bonus.

Some of the problems that users have faced with the card include:

The cashback is credited as Swiggy Money, which can only be redeemed on the Swiggy app.
Spends on food orders or DineOut are randomly categorized under ‘Bundl Technologies’, Swiggy’s parent company, and users receive only 1% cashback on these orders, instead of the promised 10%.
The total cashback for expenses originating on Swiggy is capped at ₹1,500 per month.
The Swiggy app does not allow users to raise any dispute related to credit card billing.
HDFC’s helpline gets disconnected four out of the five times when contacted.
Many users have complained about the difficulties in getting a card, despite being eligible for one.
Some users have also been unable to link their card to the Swiggy app.

Overall, the HDFC-Swiggy credit card is a good option for those who use Swiggy regularly, but it is important to be aware of the limitations of the card, such as the cashback cap and the fact that the cashback is credited as Swiggy Money.

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Analysts say that the move by banks to essentially devalue cards also signals that they want to tighten their belts.
“They have built a customer base probably with offers that were too good, but now there is some pressure on banks’ profitability,” said Karhtik Srinivasan, group head, financial sector ratings, at ICRA. “One way to look at it is banks are consolidating their customer base, but there has been no real impact on either card issuances or spends so far.”

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  1. SBI Cashback
  2. SBI Simplyclick
  3. HDFC Money-back+
  4. Amazon Pay ICICI
  5. HDFC Millennia
  6. Axis Ace
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I am noticing that in recent times a lot of the entry level cards are in the news.

Is it that the premium and the ultra premium cards are losing their shine? Or is it because of the entry level cards are easier to get and cheaper to maintain.

Any opinions on this?

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“you should evaluate the potential risks, and costs and benefits of any card before signing up. Careful consideration can protect you from unpleasant surprises, and help you maximise your benefits.”

  1. Identify the purpose
  2. Know your spending pattern
  3. Cost-benefit analysis
  4. Number of cards
  5. Credit card devaluation
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The premiums are harder to get and expensive to maintain especially if one owns multiple such cards and does not have a lifestyle that supports the spending milestones

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Anyone heard about upcoming fibe + axis credit card? I have heard a rumour

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I read about in an ET article. That’s it.
That concept sounds intriguing as well as rewards being offered were also okay. Don’t remember the exact offering. Did not install the app.

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@Aswin_Benny The first numberless card in India like the Apple card in the US.

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Thanks. I didn’t notice it. But I don’t feel like creating an account in a such apps :woozy_face:

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hey y’all,

  1. is there any bank that offers secured/fd backed Rupay variant cc which can be linked and used in jupiter/others as upi payments ?

  2. If i make FD in jupiter which is basically fd with federal bank, is there a way to get federal bank’s secured/fd signet card ?

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Given Federal Bank’s stand on their relationship with Jupiter, this would be no.

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I don’t think so. Federal Bank keeps Jupiter accounts separate.

Jupiter Debit Card is not applicable for Federal Bank offers.

Also most of the time, we keep seeing our community members visit the Federal Bank and not get solutions as the Federal Bank employees wash their hands off Jupiter. :slightly_frowning_face:

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Kotak has started issuing kotal virtual rupay UPI cc I got the message for the same today

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