Debit Cards, Credit Cards & More

[mreccentric]

I don't think there's a thread for General Discussion on Debit Cards, Credit Cards. So, here's one.

Just a few days ago, i came to know that my bank is charging a lot for one of my cards. I then, on enquiry came to know that it is because it is an Platinum Variant. After which, i came to know that i get extra facilities with such a card.

I was told that i get free airport lounge access with such a card. Having not had a airline travel in past three years, i think it was not worthy having. But still the card has validity. My question is how do i get to know what facilities they provide? I had no idea that these cards are more than just for swiping.

How does free lounge access work? How do i use it next time? What other facilities do these cards provide which i am not aware of.

 

[Sushubh]

lounges are still not free i think. there is still a charge like 17 dollars? basically if you are not using cards properly with yearly fees, time to switch to a lower end variant without fees. i even downgraded my yes bank debit card last year because they were charging 500+ for it and in the end, you still are only able to take out 20K in one go from ATM machines since 2K notes disappeared from them. it still costs me 250+ iirc but i really do not miss any of the 'extra feature' of the premium debit card. all my credit cards at the moment are free for life.

 

[mreccentric]

Yes. The lower cards are charged 250 per year. But, mine was 750 (if i am correct that is excluding GST), since i had not noticed that at all. But, still was happy since it was better than the previously allotted (nearly useless) Rupay cards.

I did hear that i can encash upto 1 lakh with this. But, the point is after demonetization year (2016), it's been hard to maintain the minimum balance only. :shameless:

 

[Pankaj]

You can go to the bank site and search for the debit card you are holding.
For domestic lounges, they usually charge 2rs.

 

[Rajneesh Rana]

Premium cards are many times free for higher variant customer segment.

 

[mreccentric]

I have traveled via various International Airports in India. I didn't notice anything as a different lounge section in India (at least). May be, i must have noticed in duty-free section but not remembering. A lounge access for Rs 2/- seems to be affordable to anyone. But, does all banks provide the same lounge or different ones?

Can you tell me what facilities are available in Indian airports, and is it a must to travel anywhere to check these lounges anytime?

 

[Sushubh]

yeah i mean in the end, 500 note in atm has removed most of the advantages of having a premium debit card. and with upi, and how cash has become a taboo for larger payments (except for real estate maybe?)... you rarely need to take out a lot of cash from atm machines. so it is all about other benefits which most folks do not really have much use of.

 

[mreccentric]

Firstly the government doesn't have any regulation in controlling the rates and facilities provided by these Banks. I more of feel like these different variants in Cards is just for marketing, and suitably exploiting the customer. The Modi Government would start charging money for UPI usage in the future. I think this will substantiate/replace Debit Cards in the future.

But, yes, by that time they will find a way to activate UPI without the need of Debit Cards.

But, isn't there any limit on swipes for debit cards? I'm aware of such limits in Credit Cards, but haven't come across such an instance with which i can't swipe the larger amount on any Debit Cards.

 

[JB701]

i think it would be a big mistake to start charging for UPI considering they are pushing for a 'cashless society'. hopefully they understand that UPI/Rupay is a public service that benefits economy in other ways and doesn't necessarily have to make a profit.

as for debit/credit cards, there are still great uses. my primary use for them is for foreign exchange, secondly there is cashback offered on certain sites.

and with credit cards you get fraud protection/chargeback too

 

[mreccentric]

I just went and checked on the official bank website. It says that to have 1 lounge access quarterly, i need to make 5000 expenditure in the previous quarter. With dependence of UPI for transactions, i think it is not easy make 5000 Rs for a normal Indian only through Debit Card. So, lounge access is a bogus of a sense.

Again, there are some nuisance like cashback points, where on expenses of 100 you get a point. I don't know how this works, but i haven't seen any of my connections keenly making use of it. As far as discounts is concerned, yes, certain ecommerce website have seasonal discounts for some banks.