Sach4life Posted January 2, 2023 Report Share Posted January 2, 2023 9 minutes ago, AtheK said: I applied for CB card, they gave me a limit of 10K, when my Simply CLick has limit of 10 lacs, I have not even opened the card, I think I will just close it. Bade log 1 Quote Link to comment Share on other sites More sharing options...
AtheK Posted January 2, 2023 Report Share Posted January 2, 2023 12 minutes ago, Sach4life said: Bade log Kahan yaar SBI click card has the least of limit of my other cards, kahan ke bade log. 1 Quote Link to comment Share on other sites More sharing options...
Root Posted January 5, 2023 Report Share Posted January 5, 2023 On 1/1/2023 at 4:49 PM, KunjanPSD said: You have to be quick with Magnus. Devaluation is inevitable with such a reward rate, maybe a few more months and once Citi acquisition is up, they will roll back. make hay while the sun shines. Its just matter of when Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 11, 2023 Report Share Posted January 11, 2023 SBI does it again. If anyone bought any vouchers from SBI Gyftr sale at 3% discount and used SBI Cashback card, guess what? No cashback being credited. 1 1 Quote Link to comment Share on other sites More sharing options...
rushab oswal Posted January 11, 2023 Report Share Posted January 11, 2023 On 1/2/2023 at 11:23 AM, KunjanPSD said: I remember people vouching for SBI Cashback here few months ago, knew this will happen ? @Root himself is now a Magnus Guy. still a good card though. 21 minutes ago, KunjanPSD said: SBI does it again. If anyone bought any vouchers from SBI Gyftr sale at 3% discount and used SBI Cashback card, guess what? No cashback being credited. DUDE WTF????? Dumb a*s mofo's pehle batate toh direct amazon se hi lete na. Quote Link to comment Share on other sites More sharing options...
rushab oswal Posted January 11, 2023 Report Share Posted January 11, 2023 27 minutes ago, KunjanPSD said: SBI does it again. If anyone bought any vouchers from SBI Gyftr sale at 3% discount and used SBI Cashback card, guess what? No cashback being credited. Any source where did you read this? Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 11, 2023 Report Share Posted January 11, 2023 58 minutes ago, rushab oswal said: Any source where did you read this? For some people statement has been generated and cashback not credited. If you are lucky, you might get Cashback credited later but knowing SBI, that will probably be forfeited later. 1 Quote Link to comment Share on other sites More sharing options...
SkinTightTuna Posted January 12, 2023 Report Share Posted January 12, 2023 On 1/2/2023 at 2:23 PM, AtheK said: I applied for CB card, they gave me a limit of 10K, when my Simply CLick has limit of 10 lacs, I have not even opened the card, I think I will just close it. Call up sbi customer care and ask them to transfer xx amount of credit limit into cashback card. Ive done the same and can confirm this works. 1 Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 23, 2023 Report Share Posted January 23, 2023 If anyone holds Niyo SBM card and was planning on using it, then unfortunately RBI has imposed a stop on SBM bank. All transactions will be stopped. Except Niyo, providers like IND, vested etc are also hit. Quote Link to comment Share on other sites More sharing options...
0verlord Posted January 23, 2023 Report Share Posted January 23, 2023 55 minutes ago, KunjanPSD said: All transactions will be stopped Not all transactions it seems, only LRS remittance transactions are stopped from what is appearing on media outlets Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 23, 2023 Report Share Posted January 23, 2023 (edited) 53 minutes ago, 0verlord said: Not all transactions it seems, only LRS remittance transactions are stopped from what is appearing on media outlets That was the whole point of such cards. If you can't do forex online/merchant/cash txns then why will you use Niyo? Unless you have Niyo issued DCB/Equitas cards. Edited January 23, 2023 by KunjanPSD Quote Link to comment Share on other sites More sharing options...
North Posted January 26, 2023 Report Share Posted January 26, 2023 On 1/23/2023 at 10:19 PM, KunjanPSD said: If anyone holds Niyo SBM card and was planning on using it, then unfortunately RBI has imposed a stop on SBM bank. All transactions will be stopped. Except Niyo, providers like IND, vested etc are also hit. That card was great all through my travels in Singapore and Vietnam. Also I think only international transactions are stopped, the card can still be used domestically? I may be wrong though. I however have now gotten a mail regarding the Niyo Global Secured Credit Card. Need to make an FD of 5000 or more within the app, and the credit limit will be the FD amount. Perks seem to be similar to the regular old Niyo Global debit card. This is also with SBM so why is this not hit? If someone can assess this better, worth getting the card? there isn't a charge. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 26, 2023 Report Share Posted January 26, 2023 19 minutes ago, North said: That card was great all through my travels in Singapore and Vietnam. Also I think only international transactions are stopped, the card can still be used domestically? I may be wrong though. I however have now gotten a mail regarding the Niyo Global Secured Credit Card. Need to make an FD of 5000 or more within the app, and the credit limit will be the FD amount. Perks seem to be similar to the regular old Niyo Global debit card. This is also with SBM so why is this not hit? If someone can assess this better, worth getting the card? there isn't a charge. 1. Domestic txns won't be stopped. 2. Secured Credit Card has lower limit as one has to make an equivalent FD. 3. Features aren't the same. They are offering 6% on FDs. Every major bank is offering 7-8% on FDs, so one is basically nullifying the forex charge and markup with the reduced interest rate. Must have some pre-mature withdrawal charges as well. 4. I am not sure if they are offering 6% even on short term FDs (<30D), if yes then it can work out as you can basically create an FD only for the duration of your trip. Highly unlikely though. 5. I can't trust these Neobanks and brokers with my money for FDs. 6. CC usage doesn't come under LRS i.e. Liberalised Remittance Scheme, which is what powered Niyo Global, Vested etc. So this secured CC will work. 7. Niyo mentions no CIBIL check as it is secured but this will go on to your CIBIL as a credit account. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 26, 2023 Report Share Posted January 26, 2023 I would suggest to ditch Niyo and get Fi. Exactly the same thing but with Federal bank. Quote Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted January 26, 2023 Report Share Posted January 26, 2023 1 hour ago, North said: That card was great all through my travels in Singapore and Vietnam. Also I think only international transactions are stopped, the card can still be used domestically? I may be wrong though. I however have now gotten a mail regarding the Niyo Global Secured Credit Card. Need to make an FD of 5000 or more within the app, and the credit limit will be the FD amount. Perks seem to be similar to the regular old Niyo Global debit card. This is also with SBM so why is this not hit? If someone can assess this better, worth getting the card? there isn't a charge. Just get Fi. Used it in recent travel, worked without hiccups. Quote Link to comment Share on other sites More sharing options...
0verlord Posted January 26, 2023 Report Share Posted January 26, 2023 2 hours ago, KunjanPSD said: can't trust these Neobanks and brokers with my money for FDs. FDs upto ₹5L are insured by RBI Quote Link to comment Share on other sites More sharing options...
North Posted January 26, 2023 Report Share Posted January 26, 2023 (edited) 6 hours ago, KunjanPSD said: 1. Domestic txns won't be stopped. 2. Secured Credit Card has lower limit as one has to make an equivalent FD. 3. Features aren't the same. They are offering 6% on FDs. Every major bank is offering 7-8% on FDs, so one is basically nullifying the forex charge and markup with the reduced interest rate. Must have some pre-mature withdrawal charges as well. 4. I am not sure if they are offering 6% even on short term FDs (<30D), if yes then it can work out as you can basically create an FD only for the duration of your trip. Highly unlikely though. 5. I can't trust these Neobanks and brokers with my money for FDs. 6. CC usage doesn't come under LRS i.e. Liberalised Remittance Scheme, which is what powered Niyo Global, Vested etc. So this secured CC will work. 7. Niyo mentions no CIBIL check as it is secured but this will go on to your CIBIL as a credit account. Yeah I wasn't eyeing the card as my new choice for FDs by any means so that isn't too relevant. Just as an alternate option to keep handy. 5 hours ago, Bird Bird Bird said: Just get Fi. Used it in recent travel, worked without hiccups. Yeah just needed a good alternate, I'll check it out! Fi does seem good, looks similar enough to the Niyo global card. don't have international travel on the horizon but will get it when needed. Edited January 26, 2023 by North Quote Link to comment Share on other sites More sharing options...
achilles Posted January 26, 2023 Report Share Posted January 26, 2023 7 hours ago, Bird Bird Bird said: Just get Fi. Used it in recent travel, worked without hiccups. 8 hours ago, KunjanPSD said: I would suggest to ditch Niyo and get Fi. How’s it better than HDFC regalia forex card? Quote Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted January 27, 2023 Report Share Posted January 27, 2023 8 hours ago, achilles said: How’s it better than HDFC regalia forex card? Forex cards will have issuance charges, loading fee, refund fee etc. Fi is just like a debit card with zero forex markup. You can spend whatever you've in the account. No charges. 1 Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted January 27, 2023 Report Share Posted January 27, 2023 8 hours ago, achilles said: How’s it better than HDFC regalia forex card? You should absolutely never use forex card as that will use the forex rate set by the bank and not the visa/MasterCard interchange rate, which will be around 4-5% higher. Infact, you should just use Infinia. Infinia has 3.3% reward rate with 2% markup. With GST, it comes to 2.36%. That means on every swipe, you will actually gain 0.94%. And further, you should call customer care and enable Global Value program on Infinia. Costs 450 bucks or so a year and provides 1% cashback for upto 1L forex spend every month. That means over the current 3.3% reward rate, you get 1% more. That means a net 1.94% gain for forex txns upto 1L in a month. Forex cards me aag lga do. 1 Quote Link to comment Share on other sites More sharing options...
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