What's your take on Credit Cards? 💳

Feedback & Ideas Features
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Hey guys,

This will sound exciting…so buckle up! :see_no_evil:

We’re looking to understand top Credit Card features + most important factors when selecting a new Credit Card and we need your thoughts on this.

We’d like to know:

  1. What are your favourite credit card features? Or what is your feature wishlist?
  2. What type of transactions do you use credit cards for (compared to debit card and UPI? Do you use your debit card more than a credit card (or vice versa)?
  3. What’s your preferred way of receiving rewards and what are the favourite rewards/benefits your cards offer?
  4. Some concerns like - You already have a Debit Card, would you want to carry another card? Or maybe…have a 2 in 1 card?! :eyes:

You can share other thoughts as well. Let us know, We’re listening!

Credit Cards

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Scan and Pay for credit card. Basically interoprability with UPI.

I am not sure how RBI regulations will hinder this thing.

But ya… I would like to see this on credit cards.

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  1. Features - Cashback on all transactions instead of reward points, Milestone benefits, Lounge access, partner with lots of websites for exclusive offers
  2. Always prefer credit card.
  3. Cashback is the best way of rewards
  4. Would like to carry another credit card.
14 Likes
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Well… Iam an 19 year old and i live in 3rd tier city i guess… when i applied for slice credit card… i didn’t get it because of the city i live in… pls make sure 19 year olds and ppl from everywhere on india can apply same time.

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  1. Some of the top credit card features are -
  • Low Forex Markup (My top choice - One Card, RBL World Safari)
  • Cashback (My top choice -Axis Ace, HDFC Millennia, ICICI Amazon, RBL Zomato Edition and Axis Flipkart) [even reward points can be good, given the rate of conversion is more than 2%]
  • Lounge Access (Most of the cards have it; some of top - HDFC Millennia, Axis ACE)

  1. I do 90% of all my transactions through a credit card. Debit Card and UPI only for those transactions where credit card is not acceptable i.e., Local Merchants - though they credit card machines, they restrict the usage to only debit cards due to high charges levied on merchants.

  2. Combination of Cashback and Reward Points. I currently hold these cards and the top benefits for which I hold the card are as follows:

  • Axis Ace (5% on Google Pay, 4% on Selected merchants including Ola & Swiggy, and 2% on all other spends, and obviously Axis Bank offers)
  • HDFC Millennia (5% on 10 merchants including Swiggy, Amazon, Flipkart, & others and 1% on all other spends with a milestone benefit of Rs. 1000 voucher each quarter on spending Rs. 1 lakh)
  • Amazon ICICI (5% on Amazon Purchases & 2% of Amazon Pay)
  • PayTM SBI (2% on Paytm App and SBI offers)
  • Zomato RBL (Zomato Pro Membership, 1.5% on Other spends, 5% on restaurants and Zomato App, with Rs. 2000 milestone benefit on spending Rs. 2 Lakhs)
  • Yes Premia (International Lounge Access and No Fees)
  • ONE Card (Low Forex Charges and offers)
  • Yes Premia (Yes Bank offers, might close it)
  • IDFC Millennia (Railway Lounge Access, and other offers)
  1. 2-in-1 card would be great as Jupiter card is already my primary and the only debit card I hold on daily basis, along 2 other credit cards (on rotational basis)
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  1. I prefer Credit cards for Education Fee , Travel , Online Shopping, FoodOrdering.
  2. Prefer to adjust balance against points or use it on Amazon Gift Card
  3. For Online , prefer a one-click experience over OTP verification.
  4. Credit Cards with low interest EMI and option to use it as cash in bank account without any processing fee for 30 days.
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I like credit cards for the benefits. I would like to see scan and pay on credit cards - Interoperability with UPI.

Big purchases and small purchases. I basically put all my shopping and bill pays on credit cards.

Cashback. I think it is simple and less of a hassle.

I would like to see smart cards in India - something like Coin / Fuze / Stratos.

Or maybe one card which can be switched to between a Debit / Credit card through the Jupiter app. I am not sure if the EMV chip would be a problem (both in smart card and phone app control cases.)

4 Likes
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What are your favourite credit card features? Or what is your feature wishlist?

Upi is must , slider notification to confirm payment

What type of transactions do you use credit cards for (compared to debit card and UPI? Do you use your debit card more than a credit card (or vice versa)?
E commerce ( electronics) , grocery and food
Upi is 1st preference followed by credit.

What’s your preferred way of receiving rewards and what are the favourite rewards/benefits your cards offer?
Vouchers and cashbacks , instant discount on e commerce sites like Amazon Flipkart

Some concerns like - You already have a Debit Card, would you want to carry another card? Or maybe…have a 2 in 1 card?!
If this is possible and limit is combination would be really great. I don’t want to carry any card :worried:

5 Likes
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  • What are your favourite credit card features? Or what is your feature wishlist?
  1. UPI AND SCAN QR PAYMENT USING CREDIT CARD. [REWARDS/CASHBACK NOT EXPECTED IN THIS METHOD]
  2. CASH BACK (NOT REWARD POINTS) PER TRANSACTIONS.
  3. LIFE TIME FREE

  • What type of transactions do you use credit cards for (compared to debit card and UPI? Do you use your debit card more than a credit card (or vice versa)?
    I USE 99% CREDIT CARD ONLY FOR BOTH ONLINE & OFFLINE.

  • What’s your preferred way of receiving rewards and what are the favourite rewards/benefits your cards offer?
    CASH BACK REWARDS IS MOSTLY PREFERRED.

  • Some concerns like - You already have a Debit Card, would you want to carry another card? Or maybe…have a 2 in 1 card?!
    I HAVE 12 CREDIT CARDS, STILL SEARCHING FOR THE BEST ONE WHICH WOULD OFFER ME UPI/SCAN & PAY AND CASHBACK REWARDS

5 Likes
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I consider my self a simple user… so these would important features for me that I look in credit card .

  • Clear easy to understand fees and other changes.
  • Cashback and reward points like 1% cash back on every transaction.
  • festival season offers on amazon or Flipkart.
  • fuel surcharge waiver
  • yearly and joining fee.
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UPI on credit cards might be tricky. There is no incentive for the credit card companies…

As of now there is no MDR (Mechant Discount Rate - basically the fees that credit card companies charge the merchants for using their service ~ 2%) for UPI. So why would the credit card companies want to get into UPI when they can’t make any money there?

And RBI regulations may also be tricky. Even Jupiter’s Bullet (pay later platform) is having problems (I am not sure if it is sorted out now).

If anyone knows how to navigate through these issues or if I am wrong anywhere, please let me know. Thanks.

5 Likes
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Who don’t wish to have , I was depressed to have . After days of research I got " OneCard Credit card ( partner SBM Bank India) " .

  1. Favorite Feature : Life Time free card and 1 month intrest free usage.

  2. Shopping Only ( for EMI too :laughing: )

  3. I use online shopping & my 1 card gives rewards on Mobikwik Wallet Tx. too .

  4. I’ve to Secure Credit Card, want one Unsecured Credit Card .

As per my knowledge : :slight_smile:

There are mostly 3 Types of Card -

  1. Prepaid Card :
    Prepaid card is not linked with Bank account , so before use you’ve to add money in it .
    Example : Dhani Card, Mobikwik Blue Card ( prepaid Amex Credit Card ) , Paytm wallet debit Card etc .

Pro : safe to use , no hesitation to use , no fear of showing main card , no charge on issuance ,virtual is free , free replacement on virtual card.

Cons : Extra charges on usage upto 2.7% , not useful for general user, Not acceptable at many places. Can’t pay PayLater , loan dues.

  1. Debit Card :
    This card is linked with Bank Account . It’s " Old is Gold " type .

Pros : Acceptable at all place and every country . No Extra charges on every platform, virtual is free , free replacement on virtual card .

Cons : yearly charges , mostly physical card only , Replacement charges.

  1. Credit Card :

Credit card is not linked with your existing account , on general you can say there is no bank account is inherent in credit card .
But technically , for calculation , maintenance and repayment is has virtual account which cannot use anywhere.

Credit Card is type of Loan , and it reflects in your credit Score .

Pros: EMI , upto 50 days* intrest free usage , improve credit Score if repayment on time ,

Cons : addict to using for EMI which is most of time unbalance your monthly income , heavy anual charges ( some are free) , to cash out tooks upto 3% charges . Loading in wallet is also chargeable , can’t pay load/PayLater due .

There are 2 types of credit card -

  • Secured Credit Card : Need certain amount of " Fixed Deposit " .

  • Unsecure Credit : No need to any " FD" . You can use freely as upto limit .

Note :

  1. Don’t use more than 30% of your credit card limit , this may bad impact on Credit Score/CIBIL .

  2. EMI Card , PayLater , Loan Card : there are not credit card so it act as " Personal Loan " which may small negative impact on Credit Score.
    Example: UniCard , Bajaj EMI Card, Dhani Freedom card etc.

5 Likes
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RBL Bank already providing UPI transaction via VCard for years…

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I have 18 credit cards. I love collecting credit cards.

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A solid cashback rate (>=2.5%) on all transactions, while maybe rotating through a list of higher % cashback offers with different merchants. That and a low 1% or zero forex markup fee would already have me sold. Lounge access isn’t a priority for me if it makes the card more expensive to maintain, I don’t personally use it much and my other card provides it anyway.

I do the vast majority of my transactions on a credit card, for the rest I use the Jupiter debit card. The gem system for receiving cashback already works much better than the arbitrary point systems of other banks, so I’d prefer if that was kept. Wouldn’t be opposed to a 2 in 1 card, but I don’t really mind having more cards either.

4 Likes
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Instead of NBFC led credit lines like Uni, Slice or PostPe (assuming that the idea is to revive Bullet as a card)…
…it would be great having a card from either of the partner banks i.e. Axis Bank or Federal Bank.

  1. Scrap the approval process of banks. Axis Bank (and most traditional banks) do a terrible job of KYC and onboarding. Instead approve on the basis of Jupiter usage and/or Credit Score.

  2. Give an option of both secured and unsecured credit card, secured being based on FDs and unsecured having higher ARR.

  3. Integrate Bullet Scan and Pay with the Card to pay for merchant UPI QRs

  4. Give industry standard 3% Cashback/Jewels on timely repayments.

  5. Premium Lounge Access on Train Stations and Airports.

  6. Free Cleartax ITR packages for spends over 2,00,000 pet annum.

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18 Credit Cards?! :exploding_head:
Isn’t that bad? What does it effect exactly?

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First of all @Shawnpinto great idea Jupiter should definitely bring credit cards
if u all are bringing credit cards for the user here are some the things I suggest

  1. For issuing credit cards to the people pls try to use their existing CIBIL or Experian Scores if in case a person does not have any kind of credit history then you can your some kind of model for their approval or give them credit card against a FD
  2. The credit card should not look boring like the other credit cards offered by other banks or apps try to give some good graphic options for the cards or give users the option to customize their own card as for pricing it’s up to u all guys or if u can provide for free even better
  3. Credit card should not have any kind of joining fees or annual fees and should be lifetime free as even now a days many major banks provide this kind of feature and even your competition is doing the same
  4. Option for a metal Credit Card against some charge or by making spending some amount in a time duration enables u for a free metal card
  5. Should have nfc and be able to add to Gpay or Paytm for tap to pay options as every time we don’t carry card but we have our mobile.
    6)Don’t try to limit the merchants on credit card like u did on debit card people mostly use amazon pay or Paytm for bill payments and Paytm is blocked by Jupiter even for making bill payments which should not be done here
  6. Provide cashback instead of reward points as it would be a better option then rewards points and on all category of payments.
  7. Option to have a scan and pay feature like UPI using the credit limit (this can be optional feature i don’t intend to use it as much but some are providing and some people like it)
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I have OneCard (yes metal one) and it has almost all the features that you listed but I use it very less because rewards are really poor.

If Jupiter needs me as their credit card customer just add these things to your debit card

  1. Good rewards (like 2.5% cashback on all expenses, frequent discounts on Amazon, Zomato)

  2. Smooth onboarding

  3. GOOOD CUSTOMER SERVICE PLEASE

I’m willing to pay annual fee also if all three points are covered well. I already like Jupiter app and current debit card design. Metal card is useless if rewards are useless.

Jupiter team should prioritise rather than spending needlessly on things like metal cards.

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yes i agree with u on this cashback are more imp as they are driving force for the people to use your product and cashback on amazon flipkart myntra zomato swiggy are really must as people mainly use cards for these kinds of stuff more and spend a good amount on shopping and as for the metal card it is there choice to provide and if they provide they can charge or not upto them i just tried to laid all the points as people ask for it but even for the plastic one they should have atleast provide a variety of selection to the users so that their cards can stand out from the others and not be boring like others

4 Likes