Good News CheQ the new alternative to Cred for Credit card bill payment with better cashback rewards

[Siva]

Freecharge offers lowest fee 1.5%.

False advertising then.

 

[Esmail]

Yeah, it's the lowest they say!

But I don't get the whole idea of why people choose to pay rent through credit card in the first place instead of a direct UPI bank transfer to the landlord? If they were earning reward points or cashback on the transaction it would still make sense to pay by card but here all banks have excluded rent pay transactions from cashback and even levy a processing fee on it, then why?

 

[Siva]

But I don't get the whole idea of why people choose to pay rent through credit card in the first place instead of a direct UPI bank transfer to the landlord? If they were earning reward points or cashback on the transaction it would still make sense to pay by card but here all banks have excluded rent pay transactions from cashback and even levy a processing fee on it, then why?

There are no strong reasons as far I can see. Some weak reasons could be,

1. Increase credit utilization and if one pays the due on time, credit score may increase
2. Keep the amount for longer time in Savings account
3. Save cash for another month or so, if you expect any emergency expenses during the month

 

[hike]

But I don't get the whole idea of why people choose to pay rent through credit card in the first place instead of a direct UPI bank transfer to the landlord?

Paying landlord is just an excuse this is another way to transfer money from credit card to bank account.

 

[Siva]

Limited period offer for select accounts.

 

[HitmanFan]

No more processing fee.

 

[Esmail]

No more processing fee.

They learnt it the hard way
But I doubt that the users that left will consider returning unless there are attractive rewards.
Right now the only option is to redeem the chips for cash which translates to a 0.25% reward rate, not that great but still better considering that Cred has reduced the reward in the daily spins to ₹1 on an average.

 

[Esmail]

Right now the only option is to redeem the chips for cash which translates to a 0.25% reward rate, not that great

Even the redeem for cash conversion rate has been reduced to 0.1% so the removal of processing fee is just an eyewash to fool the users.

 

[HitmanFan]

Even the redeem for cash conversion rate has been reduced to 0.1% so the removal of processing fee is just an eyewash to fool the users.

So postpe stands first with 0.2% cashback offering.

 

[Kmr]

So postpe stands first with 0.2% cashback offering.

Mobikwik is best