What's your take on customisable CC

General
21

I haven’t turned on that feature… I didnt trust that app that much. Stopped using it. My 200rs is still there inside the app :joy:. I should use it next time I buy something.

22

I can relate. @Aswin_Benny and I both fell for their trick of customizable/personalized cards. :rofl: :rofl:
@ManishSaini

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23

I got 700 rs cashback in their halloween :jack_o_lantern: offer.

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24

Do you have any idea about what is overdraft limit and how it is reflected in the credit report?

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25

I hope you find these articles useful.

How does an overdraft affect your credit score | Experian.

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26

Thanks. How is it shown in the credit report? In a loan type or there is written overdraft?

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27

Donno much about it.
May be the financial gurus here can help you. :+1:

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28

Overdraft either get reported as a debt or a revolving Credit. The treatment is similar to any other debt in terms of reporting - make payments on time and do not get marked down. Miss a payment and you get a strike. If you used a BNPL product, use the same approach in terms of payments. Pay down the balance to zero before the statement generation. This reduces the chances of misreporting.

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29

Will it show as a loan on the credit report?

30

A few companies report as a loan and some report it as revolving credit.

31

I have AU LIT card. The only drawback is you have to plan your spends since these features once activated are valid for 90 days. Otherwise it is really good card.

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32

ooops…So the customisation features comes with an expiry date? :thinking: :thinking:

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33

Yes 90 days validity for every pack you activate

34

Oh. 90 days validity sounds like sim validity :man_facepalming:

35

Haha.
It only works if you have offline spends in good amounts. Or else you will be at breakeven almost as you have to spend something around 1500 from the pocket with GST if you opt for it throughout the year

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36

Its a good business feature to encourage users to spend more. Since in those 90 days it will be stressful to breakeven and earn more rewards. Panic buying triggered.

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37

That is precisely why I prefer the premium cards. The upfront fee can be a little pinching. However, there are no moving goal posts on offers and reward point accumulation.

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38

It’s showing me as a loan account, limit with 10k , payment done every month, duration 4 months, loan RNVP(i2i) … It’s good for a beginner, but not pro because a loan downgrade your credit score :expressionless: