vireshverma2594
TF Buzz
Many of us must be putting some money in invoice discounting through some common platforms online. There are two platforms I know of which allow us to pay for that using CC.
In the case of one platform, while they clearly mention payment allowed by bank account only, however, you may select UPI payment where you pay by Rupay Credit Card (instead of bank account) and payment gets accepted. In this case, the amount added to their wallet (through Credit Card UPI) can also be withdrawn to bank account, which almost makes it a CC to cash conversion system- which seems very shady.
In the case of the other platform, they very clearly have an option to pay via any Credit Card.
I want to know if this is even legal (at least second case should be legal since they themselves allow payment by CC very clearly), and if there is any risk of my card being flagged/ cancelled if I pay this way? I paid it once last month (and out of guilt + fear, paid off my card before due date) but I would definitely not do it if there is a risk of bank cancelling my card because of this. I'd much rather keep my card than lose it just for a few reward points.
(I am not naming the platforms as of now, however, if moderators think I can/ should, I am open to naming them).
In the case of one platform, while they clearly mention payment allowed by bank account only, however, you may select UPI payment where you pay by Rupay Credit Card (instead of bank account) and payment gets accepted. In this case, the amount added to their wallet (through Credit Card UPI) can also be withdrawn to bank account, which almost makes it a CC to cash conversion system- which seems very shady.
In the case of the other platform, they very clearly have an option to pay via any Credit Card.
I want to know if this is even legal (at least second case should be legal since they themselves allow payment by CC very clearly), and if there is any risk of my card being flagged/ cancelled if I pay this way? I paid it once last month (and out of guilt + fear, paid off my card before due date) but I would definitely not do it if there is a risk of bank cancelling my card because of this. I'd much rather keep my card than lose it just for a few reward points.
(I am not naming the platforms as of now, however, if moderators think I can/ should, I am open to naming them).