Gollum
Collector
Things to remember -
never use your cc in an atm machine - there is heavy surcharge
cc pin either comes along with the card or after a few days automatically - if not call citiphone - number is on your cc
you can ask the bill due date at the citiphone line
never use the auto debit option - it will debit the set amount even if you have paid the bill (this option is enabled by default and you have to disable it online)
never use your cc in an atm machine - there is heavy surcharge
cc pin either comes along with the card or after a few days automatically - if not call citiphone - number is on your cc
you can ask the bill due date at the citiphone line
never use the auto debit option - it will debit the set amount even if you have paid the bill (this option is enabled by default and you have to disable it online)
There is a set limit to which you can spend. You will get option to upgrade the limit by mail once you have had good enough credit history.
Do increase the limit if you think later on it might be useful. I wasn't able to buy Lenovo Y500 using citibank CC as my credit limit was 50k. Before that I just never replied to the upgrade limit mails and now wanted that desperately as there was some cashback offer and 0% EMI charge for Y500.
Also, beware of surcharges at mall, petrol pumps etc if they don't have citibank connected machine.
Do increase the limit if you think later on it might be useful. I wasn't able to buy Lenovo Y500 using citibank CC as my credit limit was 50k. Before that I just never replied to the upgrade limit mails and now wanted that desperately as there was some cashback offer and 0% EMI charge for Y500.
Also, beware of surcharges at mall, petrol pumps etc if they don't have citibank connected machine.
nomad47
Cyborg Agent
For changing PIN in ATM there is no surcharge. And why would you pay the bill if you have set auto debit option. Just set it to pay the entire bill amount on the due date.
Gollum
Collector
its not good if you dont have funds in you account is it?
nomad47
Cyborg Agent
Dude you will anyways have to pay the bill. Else it will attract hefty interest. Also your CIBIL score will go South. So keep your account properly funded for the bill
OP
anirbandd
Conversation Architect
thanks for the warning on that bolded part..
btw, what if i set the bill payment to Least Payable amount, so as not to attract the interest?? any catches in that??
i got the 50K Credit limit.
and the cash limit is 10K.. how is it useful?? does it mean that i can withdraw upto 10K from an ATM??
btw, explain the last bold line.
PS: i also read in the letter that there are surcharges in purchasing train tickets online using CC. can someone confirm and explain this??
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See, basically, i am planning to only spend upto 5000 a month through CC. that means i will be able to waive off the 1K card charges each year, and also keep my monthly bill low.
for other payments, im going to try to use my regular debit card.
you people got any suggestions on this kind of usage?? also, do share how you use your CC. do you entirely depend on your CC for all payments? or do you use your DC too?
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Dude you will anyways have to pay the bill. Else it will attract hefty interest. Also your CIBIL score will go South. So keep your account properly funded for the bill
Yeah, about the CIBIL score... been hearing a lot about it... how does it help a guy like me??
also, i checked on their site. It takes ~Rs. 450 for the score generation.
so, when should i purchase my CIBIL score??
nomad47
Cyborg Agent
thanks for the warning on that bolded part..
btw, what if i set the bill payment to Least Payable amount, so as not to attract the interest?? any catches in that??
i got the 50K Credit limit.
and the cash limit is 10K.. how is it useful?? does it mean that i can withdraw upto 10K from an ATM??
btw, explain the last bold line.
PS: i also read in the letter that there are surcharges in purchasing train tickets online using CC. can someone confirm and explain this??
--------------------------------------------------------------------------------------------------------------------------------------------------------------------
See, basically, i am planning to only spend upto 5000 a month through CC. that means i will be able to waive off the 1K card charges each year, and also keep my monthly bill low.
for other payments, im going to try to use my regular debit card.
you people got any suggestions on this kind of usage?? also, do share how you use your CC. do you entirely depend on your CC for all payments? or do you use your DC too?
- - - Updated - - -
Yeah, about the CIBIL score... been hearing a lot about it... how does it help a guy like me??
also, i checked on their site. It takes ~Rs. 450 for the score generation.
so, when should i purchase my CIBIL score??
Unless and until you are willing to take a loan there us no necessity to purchase it. You can purchase it if a loan application or a credit card application gets rejected. Else it is of no use.
Pay your CC bills on time and you would not have to worry about the score.
Don't withdraw cash using your CC unless and until you are absolutely in a tight corner without any other option. It has a higher interest charge and the interest is charged from the moment you withdraw it (no interest free period)
Also if you pay only the minimum amount due the unpaid amount will still attract interest. And any new transaction will not have any interest free period.
The usage of CC and DC depends on you entirely. Its better to rack up reward points in one card as its more beneficial. But I personally avoid using CC where there is a surcharge.
Always keep in mind that CC is a loan from your future self. So plan your purchases accordingly.
nomad47
Cyborg Agent
that last line kinda sums it up nicely!!
regarding increasing credit limit, does it apply when i regularly pay the bill, no matter the amount[i am planning to take smaller credits on the CC], or only when the credit amount is larger than a certain amount..
Different companies have different policies and the credit limit also depends on your monthly income. If you pay your bills regularly and spend hefty amount in CC the company may offer you a limit enhancement. You may also apply on your own for increasing the limit. They generally ask for form 16 and some last 3 months salary slips for that.
I spend for anything that doesn't incur surcharge using the Citibank CC. This way I get to increase the reward points.
And then before the due date arrive pay the entire sum of CC bill from main account at once.
Till now haven't used CC to get things on EMI. And I hope I don't need to do it either.
And then before the due date arrive pay the entire sum of CC bill from main account at once.
Till now haven't used CC to get things on EMI. And I hope I don't need to do it either.
Zangetsu
I am the master of my Fate.
Remember these rules and u will enjoy the CC for a Lifetime with a good CIBIL rating
1) Never Exceed Credit Limit in a billing cycle.
2) Always pay before or on due Date.
3) Never Withdraw Cash from a CC (use Debit instead) bcoz of higher interest rate (only in extreme/urgent conditions u can withdraw)
4) Never Use multiple CC for transactions in fact don't use many CC (2 or 3 CC is more than enough)
1) Never Exceed Credit Limit in a billing cycle.
2) Always pay before or on due Date.
3) Never Withdraw Cash from a CC (use Debit instead) bcoz of higher interest rate (only in extreme/urgent conditions u can withdraw)
4) Never Use multiple CC for transactions in fact don't use many CC (2 or 3 CC is more than enough)
OP
anirbandd
Conversation Architect
thanks.. i do plan to increase the ,limit a few months from now, depending on how much i need it.
I spend for anything that doesn't incur surcharge using the Citibank CC. This way I get to increase the reward points.
And then before the due date arrive pay the entire sum of CC bill from main account at once.
Till now haven't used CC to get things on EMI. And I hope I don't need to do it either.
have you done transactions on IRCTC through Citibank CC? do you know if charges anything extra?
multiple CCs?? no, i didnt want to even take this one.. but everything everywhere uses CC, so i took it..
thanks a lot!!
Zangetsu
I am the master of my Fate.
heh heh...i was on the same boat 1yr back but once I started using CC felt so convenient in using it.
u will also feel the same Buy now...Pay Later
OP
anirbandd
Conversation Architect
[MENTION=154031]nomad47[/MENTION] put it very aptly, and in an easy to remember way.
OP
anirbandd
Conversation Architect
all right... so i activated the card and linked the card to my account..
i bought some items.
i also bought some items from steam. amounting to USD 4.9... I got an sms stating the same, and also that "Final FX rates and charges are applicable."
whats that?? and when is the USD gonna convert to INR?
i bought some items.
i also bought some items from steam. amounting to USD 4.9... I got an sms stating the same, and also that "Final FX rates and charges are applicable."
whats that?? and when is the USD gonna convert to INR?
OP
anirbandd
Conversation Architect
please do so.
Zangetsu
I am the master of my Fate.
Forex rates which is different from bank to bank
OP
anirbandd
Conversation Architect
how much will i be charged????