Easy to create and convenient to use, virtual credit cards also offer superior safety against frauds and misuse in online transactions.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
So how does one protect themselves from misuse of their credit cards? Here are a few helpful suggestions.
Delhi Police have arrested five individuals for allegedly abducting and robbing a man after luring him through a dating application in the Kalkaji area. The victim was assaulted, forced to transfer money, and later abandoned.
It is possible that this experiment might see a rise in the Union government's cost incurred on tax concessions, without any increase in the tax base or coverage, says A K Bhattacharya.
How crooks try to trick the system and defraud credit card transactions and how you must protect yourself from such scams.
While cash cards are not a new concept and the user need not have a bank account, they are yet to gather steam in India. Most cash-card companies are taking the next big step with mobile wallets.
What if after making some hefty purchases at a store you pull out your credit card only to be told that your transaction has been declined?
Credit cards have made our lives easier in more ways than one. But they also leave us susceptible to frauds. Here's how to protect yourself.
Here's why VCCs are the best options for credit and debit card holders for avoiding phishing and frauds
In an online chat with readers on October 14, Anil Rego answered their credit card queries.
One must be extremely cautious while shopping with a credit card.
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.
The Delhi Police's Economic Offences Wing (EOW) has dismantled a GST fraud cartel, arresting six individuals involved in swindling Rs 128 crore through shell companies and fake invoicing.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
Did you know that credit cards can in fact help you to improve and build your credit score if used responsibly and wisely!
Here's how to get out of this situation without hurting your CIBIL score.
Banks have started charging customers for payment of credit card bills through cheque and so paying online makes more sense.
According to the latest data released by the Reserve Bank of India, the growth was significantly higher than the 24.51 per cent rise in the value of plastic money transactions in 2006-07 and was partly attributed to banks encouraging people to use cards for transactions. In recent months, banks have increasingly put in place schemes, like cash-back offers, to entice people to use more of debit cards.
Who could have thought that credit card spending offers a peep not only into the financial health but also into the behaviour of a person!
Here are 5 ways you can get a credit card even if you do not have a job.
'In restaurants, the waiter takes your card and then comes back with the machine. Don't allow that.' 'Let him come to you with the machine and then enter the card and the PIN yourself.'
While it is a convenient mode of payment, it is not an efficient way of borrowing. Repay your dues fully every month if you decide to use it
A consumer court in New Delhi has directed the Bank of India to refund Rs 10,000 to a woman and provide additional compensation for a failed ATM transaction that was not reversed for several months, citing deficiency in service and violation of RBI guidelines.
When you pay by cash, the pain is the highest and when you pay by credit card, the pain is reduced considerably.
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.
The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost.
Come August 1, it will be compulsory to have a personal identification number (PIN)/password for all online credit and debit card transactions in the country.
A primer on how to choose correctly between swiping your card and applying for a loan...
You may forget about your mistakes but CIBIL keeps an eye and maintains a record of each and every transaction right from your first credit card!
Travel is now the dominant spending category for India's affluent consumers, who are prioritising experiences and luxury goods over retail buying, according to a new report.
More cases of international credit card fraud with links to India have come to light in Britain, even as authorities refused to rate the problem from Indian cities as very high.In a latest incident, a British journalist discovered that money was withdrawn from his bank account in Chennai this week, while nearly 500 others in Bournemouth suffered the same fate.
Here's what's in it for you!
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
Often, individuals are offered credit cards with great schemes directly by the bank.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
Today pay-later services are available for practically anything under the sun. And these include small purchases like clothes, gadgets, movie tickets, and even food.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
