What is an unsettled amount?

[Hanush Kumar]

I purchased a gift using my hdfc iocl card on an online shop. The order is confirmed and I received the order id also. Similarly, I got the transaction details also. But in the my cards app, the amount (399) I spent on the gift is categorized as unsettled. I made some earlier purchases also. Those amounts were categorised as unbilled (4342). But the total outstanding amount clubs both the categories on the app, but on net banking, it doesn’t consider the unsettled bill.

Should I report this to my branch or should I wait for it to move to unbilled. also, should I pay the unsettled amount also while repaying my CC due?

 

[hitirfan]

Every transaction you make with Credit Card goes to unsettled first, then it moves to Unbilled on next day or in some case 2-3 days.

In normal in all Credit Cards. You can pay the amount through IMPS. BBPS allows only the billed amount.

 

[Skylar]

I purchased a gift using my hdfc iocl card on an online shop. The order is confirmed and I received the order id also. Similarly, I got the transaction details also. But in the my cards app, the amount (399) I spent on the gift is categorized as unsettled. I made some earlier purchases also. Those amounts were categorised as unbilled (4342). But the total outstanding amount clubs both the categories on the app, but on net banking, it doesn’t consider the unsettled bill.

Should I report this to my branch or should I wait for it to move to unbilled. also, should I pay the unsettled amount also while repaying my CC due?

Unsettled: -
These are transactions that have been authorized but not yet fully processed or cleared by the merchant.

For example, imagine you go to an ice cream shop and buy an ice cream cone. You give the shopkeeper your card, and they say, “Okay, you can have the ice cream!” But the shopkeeper hasn’t taken the money from your card yet. This means the bill is unsettled. Once the shopkeeper takes the money from your card, the bill is settled


Unbilled: -
These are transactions that you have made but have not yet been included in your current billing cycle.

If your billing cycle ends on the 15th of the month and you make a purchase on the 16th, that purchase will be an unbilled transaction until the next billing cycle.

After bill is generated it

 

[Hanush Kumar]

Thank you all. Is this the case with all network companies or just with rupay?

 

[Skylar]

Thank you all. Is this the case with all network companies or just with rupay?

This applies generally to credit cards, regardless of the network.

- I recommend watching “Credit Card 101” 3 videos on YouTube, where they explain everything regarding billing dates, payment settlements, and other related topics.

 

[Hanush Kumar]

Since I own an HDFC IOCL CC, should I only use it at HDFC POS machines to get fuel points or would I get fuel points on swiping at all POS machines?

 

[Skylar]

Since I own an HDFC IOCL CC, should I only use it at HDFC POS machines to get fuel points or would I get fuel points on swiping at all POS machines?

You'll get fuel points on all POS machines.

 

[Hanush Kumar]

Thank you for your replies

 

[hitirfan]

In addition you can ask them to credit IOCL points for fuel transaction you make. Double faida

Since I own an HDFC IOCL CC, should I only use it at HDFC POS machines to get fuel points or would I get fuel points on swiping at all POS machines?

 

[Hanush Kumar]

So even in petrol pumps, I can use my card on any POS machines, and it doesn't have to be an HDFC POS machine to earn the 5% fuel points, right?

 

[hitirfan]

So even in petrol pumps, I can use my card on any POS machines, and it doesn't have to be an HDFC POS machine to earn the 5% fuel points, right?

Yes. I also have HDFC IOCL. But these 5% aren't given instantly like other normal 1% but in next month

 

[launchcraft]

Since I own an HDFC IOCL CC, should I only use it at HDFC POS machines to get fuel points or would I get fuel points on swiping at all POS machines?

You will get points for every fuel transactions on Indian Oil petrol pump only regardless of the pos machines.

 

[Hanush Kumar]

Yes. I also have HDFC IOCL. But these 5% aren't given instantly like other normal 1% but in next month

I made a fuel purchase worth Rs. 3000 on 24th August, and the points haven't been rewarded. When can I expect the same?

 

[zacobite]

I purchased a gift using my hdfc iocl card on an online shop. The order is confirmed and I received the order id also. Similarly, I got the transaction details also. But in the my cards app, the amount (399) I spent on the gift is categorized as unsettled. I made some earlier purchases also. Those amounts were categorised as unbilled (4342). But the total outstanding amount clubs both the categories on the app, but on net banking, it doesn’t consider the unsettled bill.

Should I report this to my branch or should I wait for it to move to unbilled. also, should I pay the unsettled amount also while repaying my CC due?

settlement happens when the accounting is closed between the 2 banks and the provider ( Mastercard, Visa, Rupay) etc after the nett. amounts are claimed... This take a day or two max ( usually not later than 48 hours).. until then it shows unsettled.. sometimes merchants wont claim as well in case of error transactions etx which will get reversed

 

[hitirfan]

I made a fuel purchase worth Rs. 3000 on 24th August, and the points haven't been rewarded. When can I expect the same?

Coming statement or the one after that.

I got June fuel spend rewards in July statement and July rewards in August

 

[abhimarda]

BBPS allows only the billed amount.

You can pay unbilled amount as well in BBPS and I have paid in many cards in this month also. There was unbilled outstanding and it allowed me to pay. At least SBI does not allow to pay in card if there is no outstanding amount. Say if you are planning to make a major purchase or card which will cross 30% of your limit and currently there is no outstanding. If you try to prepay in CC and then make purchase SBI does not allow that. I am not sure of other banks though. However, all banks allow to pay in unbilled outstanding.

 

[Hanush Kumar]

You can pay unbilled amount as well in BBPS and I have paid in many cards in this month also. There was unbilled outstanding and it allowed me to pay. At least SBI does not allow to pay in card if there is no outstanding amount. Say if you are planning to make a major purchase or card which will cross 30% of your limit and currently there is no outstanding. If you try to prepay in CC and then make purchase SBI does not allow that. I am not sure of other banks though. However, all banks allow to pay in unbilled outstanding.

What is BBPS?

 

[launchcraft]

What is BBPS?

Bharat Bill Payment System
It is a system that allows users to pay bills online or through a network of agents like cred, paytm, etc.