In an online chat with readers on October 14, Anil Rego answered their credit card queries.
SBI Cards, like most other credit card issuers in the country, suffered losses during the financial crisis of 2008-09 due to sharp increase in delinquencies. The company, a joint venture between State Bank of India and GE Capital, turned profitable in 2010-11. Kadambi Narahari, chief executive officer, shares the strategy to grow the company's cards business in coming years.
Payments made by any person of an amount aggregating to Rs 100,000 or more in cash towards credit card dues will have to be reported.
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
Settlement promises to trim your debt but going for a settlement isn't really a good idea. Find out why!
In an online chat with Get Ahead readers on April 20 Kunnath Santosh of Perfios gave tips to readers on how they can become smart credit card users.
While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.
Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier.
Often, individuals are offered credit cards with great schemes directly by the bank.
Tech giant Apple has stopped accepting payments via debit and credit cards in India. Apple has stopped accepting cards for subscriptions, and purchases using credit cards issued by banks in India. Apple will also not accept payments for ad campaigns on Apple Search using credit cards issued by Indian banks. All campaigns will be put on hold from June 1.
It all begins with a little overspending on the credit card, and before you know it, you find yourself being sucked into a debt trap. You may think you have a debt pay off plan, but think again!
Credit cards are like Swiss knives: extremely indispensable in an emergency but they need to be handled with care lest they cause serious injuries.
According to the Reserve bank of India data, year-on-year growth for credit card outstandings, or the total balance due to issuers on credit card spends by customers, has plummeted to 1.4 per cent as on May 22, 2009.
A flight may be cancelled for reasons beyond an airline's control. The chaos that follows need not be, points out Air Commodore Nitin Sathe (retd).
While you go about it, please note that if it is difficult for you to keep your spending habit in check, all the benefits of getting a credit card limit increase will be pointless.
Many of us have the tendency to just pay the amount due, without caring to give the bill a proper reading.
Here's why VCCs are the best options for credit and debit card holders for avoiding phishing and frauds
Banks provide incentive for customers who use balance transfer by providing a low interest or interest free period.
After a sequential fall in November, due to high base and waning of the festival season effect, credit card spends have picked up again in December, recording over Rs 1 trillion for the 10th consecutive month. Latest figures released by the Reserve Bank of India (RBI) show that credit card spends in December 2022 touched Rs 1.26 trillion, up 10.21 per cent compared to November. And, on a year-on-year (YoY) basis, spends were up 34.31 per cent during this period.
No matter how attractive a pre-approved offer may seem, bear in mind that there are indeed no free lunches
Some of the most common grounds on which card issuers reject credit card applications in India, along with tips on how to overcome these hurdles.
If allowed to go unchecked, this addiction can wreck you financially as well as emotionally.
Being vigilant while using your credit card is the only way of preventing fraud. Here are some tips.
If you do not overspend, we advise you to get yourself a credit card. It will open up a whole new world of benefits.
Too many EMIs draining your salary? Ramalingam Kalirajan explains the safe borrowing limit that protects your income from a dangerous debt trap.
Balance transfer is a facility in which you can transfer outstanding balance from one credit card to another. It works well if you have multiple cards.
Credit cards that tell you "buy now, pay later" are a great convenience when your cash is stretched for purchases. However wise use of credit cards is very important for your financial health.
Eight months after barring the country's largest private sector lender HDFC Bank from selling new credit cards, the Reserve Bank of India (RBI) has lifted the ban, banking sources said on Tuesday. However, the ban on launching new technology initiatives remains, the sources said. In December last year, the RBI had come out with an unprecedented
Research well all the ifs and buts carefully before accepting such policies.
Mohammed Siraj is poised to lead India's pace attack in the upcoming two-Test series against Sri Lanka, stepping into the crucial role in the absence of Jasprit Bumrah.
The more you know about using a new credit card, the more you reap!
Keep in mind interest rate, tenure and additional charges if you exceed credit card limit
Reward points should not be considered as a primary factor when choosing a card. Always remember these points should be considered as an auxiliary benefit you derive due to using your card or staying loyal; they should never become an inducement to spend more.
Rajiv Raj tells you why a store credit card is not a good idea, even though you are tempted with extra 'savings' of 10 per cent on your purchase or a 5 per cent cash back or a 'sign on bonus'.
There is no such thing as 'free' credit cards. Most of the charges associated with your card are not even told upfront to you. Knowing about these various fees and charges will put you in good stead and help you use your card prudently.
Weighed down by mounting outstandings and non-performing assets (NPAs), credit card companies are taking strong measures that include slashing new card issuances and credit limits for existing customers.
We hope this information can help you save and trigger more money saving ideas in your mind.
The interest rate charged on your credit card makes your ownership a nightmare if you don't know it in perfect detail. Here's a primer for you
If you are the owner of multiple credit cards, here are some dos and don'ts you need to know about credit card management.
Outward remittances under the Reserve Bank of India's Liberalised Remittance Scheme (LRS) saw a 7.85 per cent year-on-year contraction in April 2026, primarily driven by reduced international travel spending due to global uncertainty stemming from the US-Iran conflict.
