SC Ultimate usage for only wallet loads - Any issues?

[Lord Of Darkness]

Hey CC enthusiasts,

I am planning to use my SC Ultimate for only Wallet loads for about a lakh or more each month. My limit is 5.6 lakhs.
Is there any threat of the card being cancelled for heavy usage for wallet loads?

Has anyone used this for a long time for heavy wallet loads without any issue ? I just got the card this month and have used it for wallet loading of about 65k so far.

 

[supperman]

SC can classify such heavy transactions as commercial and refuse to credit reward points. It has happened to some and everyone's favourite remedy suggestion, the RBI Ombudsman, won't help in these cases. Further, if this goes on, SC Ultimate, which has already been devalued recently due to misuse, may be devalued again for everyone by getting stripped of this option. Please use card features responsibly.

 

[Lord Of Darkness]

SC can classify such heavy transactions as commercial and refuse to credit reward points. It has happened to some and everyone's favourite remedy suggestion, the RBI Ombudsman, won't help in these cases. Further, if this goes on, SC Ultimate, which has already been devalued recently due to misuse, may be devalued again for everyone by getting stripped of this option. Please use card features responsibly.

Wallet loading for personal expenses cannot be deemed as commercial (even though bank might argue).

The recent devaluation also if you do notice - had nothing to do with wallet loads. Wallet loads is still rewarding at 3.33% and I am pretty sure, this is one of the few cards in the market's which gives rewards for Wallet Loads.

Having said that what would you recommend be an ideal spend for wallets monthly from this card? (% of total limit of in terms of amount)

 

[supperman]

Wallet loading for personal expenses cannot be deemed as commercial (even though bank might argue).

The recent devaluation also if you do notice - had nothing to do with wallet loads. Wallet loads is still rewarding at 3.33% and I am pretty sure, this is one of the few cards in the market's which gives rewards for Wallet Loads.

Having said that what would you recommend be an ideal spend for wallets monthly from this card? (% of total limit of in terms of amount)

My post didn't say recent devaluations had anything to do with wallet reloads. It did caution that devaluations had taken place across categories which were being abused. Practically every CC issuer has imposed restrictions on earning points via wallet loading. If SC sees that wallet loads are causing too much pain, then they can devalue the card further by cutting off this option as well, hence the remark about responsible spending.

As far as personal / commercial goes, you can certainly argue with the bank once they decide to mark a spend as commercial, and spend time writing and responding to mails. It can be a time consuming affair with no guarantee of success. As I mentioned, it has already happened to a few, and their pleas to either the bank or nodal officers or obmudsman didn't help. Their spends were also routinely high and almost always on wallet loads and so on.

I cannot vouch for a safe amount which doesn't look absurdely safe. Maybe you can try alternate cycles of 75K-50K every month, but banks have a range of ways to classify payments as suspect. Maybe you'll even be fine with 2L...it all depends.

 

[Lord Of Darkness]

Thanks for your observations and comments on this issue. It is enlightening

 

[Wealth is my birth right!]

Hey CC enthusiasts,

I am planning to use my SC Ultimate for only Wallet loads for about a lakh or more each month. My limit is 5.6 lakhs.
Is there any threat of the card being cancelled for heavy usage for wallet loads?

Has anyone used this for a long time for heavy wallet loads without any issue ? I just got the card this month and have used it for wallet loading of about 65k so far.

Mix with some pos purchase like groceries and cloth no radar will catch u easily

 

[Slayer]

Mix with some pos purchase like groceries and cloth no radar will catch u easily

+1

9L spent on Cashback card with 40k in cashback
Wallet load was roughly 5L out of it

 

[Wealth is my birth right!]

+1

9L spent on Cashback card with 40k in cashback
Wallet load was roughly 5L out of it

Truly inspiring 🤔😊

 

[supperman]

+1

9L spent on Cashback card with 40k in cashback
Wallet load was roughly 5L out of it

There're professionals, and then there's this person. Which wallet did you favour with these blessings?

 

[Lord Of Darkness]

+1

9L spent on Cashback card with 40k in cashback
Wallet load was roughly 5L out of it

That's my plan ...mix it up with 30 to 40% POS/ online TXNs.

 

[Wealth is my birth right!]

There're professionals, and then there's this person. Which wallet did you favour with these blessings?

Currently payzapp else all time paytm I guess

 

[S.S.]

Currently payzapp else all time paytm I guess

Both charge high fees, is there anyway we can wallet reload from sc ultimate with less fees?

 

[ak93]

+1

9L spent on Cashback card with 40k in cashback
Wallet load was roughly 5L out of it

Do you get cashback for wallet load in sbi cashback card?

 

[Rocky Bhai]

Do you get cashback for wallet load in sbi cashback card?

Sbi cashback gives 1% for wallet loading

 

[superuserv]

Sbi cashback gives 1% for wallet loading

No, 0 cashback for wallet Load on SBI Cashback Card

 

[Rocky Bhai]

No, 0 cashback for wallet Load on SBI Cashback Card

No lying but I got 1% for Bajaj wallet loading

 

[Wealth is my birth right!]

No, 0 cashback for wallet Load on SBI Cashback Card

Icici apay will give 1% cb
Sbi conditions apply

 

[Wealth is my birth right!]

Both charge high fees, is there anyway we can wallet reload from sc ultimate with less fees?

A quick fix u will get 3.3% in ultimate for wallet load
Paytm permits with some offer’s running on first week of month 1.5% cb on loading wallet in form of fuel wallet credit.
So ur net charges is reduced
When paying scb bill use hdfc bill pay for 1% cb
It’s not easy to make all this ends meet together but worth for the time

 

[ak93]

Icici apay will give 1% cb
Sbi conditions apply

Not sure if I will even use sbi cashback card then since I have magnus and DCB for all other transactions. Will close it out before annual fees is charged.

 

[Slayer]

Not sure if I will even use sbi cashback card then since I have magnus and DCB for all other transactions. Will close it out before annual fees is charged.

Cashback is gonna be like ACE
Probably not gonna be issued later