Applying for credit cards online is not something new and we all know that many banks are offering the facility through their websites. A new twist to this is the AIP facility launched exclusively for credit cards, which has recently been introduced in India. It is getting widely accepted and found to be a very… Read More »
Never exceeding 40% of your credit limit has a very beneficial effect on your credit score. This shows your credit limit is high but you have not burnt it up and have plenty in reserve. This logic helps you attain a much higher credit score. This is the same logic that suggests you should not… Read More »
In case you have lost or have been robbed off your card, you’re in double trouble- your card could be used for a fraudulent purchase and you lose the convenience to pay though the card. Besides, you may have lost all your other important documents such as pan card, driving license etc. which may have… Read More »
A recent press report said that HDFC Bank has launched three premium credit-cards – Regalia, Superia and Platinum Edge in Bangalore. The cards have been launched to facilitate frequent travelers. Mr. Pralay Mondal, Country Head – Retail Assets and Credit Cards, HDFC Bank, said that about 80 percent of the bank’s credit-cards are sold to… Read More »
A recent press report said that Mr. Diwakar Gupta, Managing Director, and CFO, State Bank of India, has cautioned banks from issuing free credit cards. He said that the issuing of credit cards should be made against a fee so that only those who value it will get it. He asked banks not to push… Read More »
It is important to ask certain questions: Have you chosen the right card? Do you know the interest rate on your credit card? Did you stop to read the fine print? Do you depend on your card and spend the maximum credit limit? Do you buy impulsively and purchase things you don’t really need? Have… Read More »
Use the bonus points that have accumulated on buying necessities (house hold appliances, clothes, groceries etc.) rather than using it on using it on things (luxuries) that aren’t really important to you. Only if the bonus points are used practically, you are actually saving cash because had to now have the bonus points, you would… Read More »
Normally, banks place a cap on the maximum amount of cash back that it offers. It is important to check this because even if you have spent more doesn’t necessarily mean that you are going to get a cash back amount as per that transaction.
Use chip based credit cards. These cards offer better security than credit cards with black magnetic stripes. This is because in a chip based card, all information is stored in the small chip in encrypted format and it also uses a PIN. This makes changing or copying this data extremely difficult. So, the chance of… Read More »
It is important that you read and understand the reward offers completely. Say Mr. Gupta had earned 10,000 reward points on his credit card. When he went to redeem these points he was in for a surprise – his reward points had expired in the previous month. Since he had failed to read the fine… Read More »