Reckless spending on credit cards will lead you into a maze of spiralling debt before you realise what hit you!
Kotak Mahindra Bank would enter credit cards business to enhance the portfolio of services offered by it, vice-chairman and managing director of the bank, Uday S Kotak, said on Wednesday.
Indians withdrew about $50 billion from their credit cards, including $26 billion through Visa cards, from ATMs in the country last year, Uttam Naik, deputy country manager, Visa International (South Asia) said on Monday.
Just like our older generation, you should realise that a penny saved now would come in handy when you need a penny.
The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform. At present, UPI facilitates transactions by linking savings or current accounts through users' debit cards. "...it is proposed to allow linking of credit cards to UPI," RBI Governor Shaktikanta Das said while announcing the regulatory moves, along with the bi-monthly policy review.
and three times when you should actually use them
Mumbai Police's 1930 cyber helpline has successfully intercepted and frozen over 101 crore defrauded from citizens in the last five months, preventing significant financial losses.
'AIS helps taxpayers check whether all income streams and reportable transactions -- such as interest from old bank accounts, small dividend receipts or transactions across multiple brokers -- have been properly disclosed.' 'Mismatches between these transactions and declared income may trigger automated notices or scrutiny.'
Watch out what you do with that piece of plastic
NPCI BHIM Services Ltd is expanding the BHIM app to feature phones to increase financial inclusion and diversify revenue through financial product distribution. The app aims to double its market share and is focusing on partnerships with banks and new features like UPI Circle.
ICICI Bank on Wednesday said its credit card base has crossed the 2 million mark, making it the largest credit card issuer in the country.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
Here's how you can do it without burning a big hole in your pocket.
Here's a quiz on credit card designed to test your basics. Take it!
Most people do not understand how minimum payments are calculated on credit cards and thus end up paying much more interest than they should to the card issuers.
Credit card spending has hit a record high of Rs 1.4 lakh crore in May, the latest data from Reserver Bank of India showed. The total spending or outstanding dues on credit cards, which remained rang-bound throughout the year in the previous fiscal, have been rising by 5 per cent month on month this year. Similarly, the number of cards in use has also jumped by more than 5 million since January and crossed 87.4 million in the reporting month, making this also an all-time high in May, according to the RBI data.
It is therefore important that precautions are taken so that you do not have to pay financially for the misdeeds of others.
If your loan was rejected because you had just 'settled' your outstanding dues and not 'closed' it altogether, then here's how you can get this loan approved.
Used prudently, plastic money is among the most useful, powerful and non-polluting kind of plastic invented. Be smart with it!
While Barclaycard, the card arm of the Barclays group, has informed some of the credit card holders that the cash limit has been reduced to zero 'to help manage the credit situation'. The new entrant to the cards business in India has sent text messages to card holders informing them about the change. A customer care executive said that the limit has been lowered for all card holders.
Awareness about need to have good credit record prompts users to pay on time.
Credit card frauds are on an upswing these days. How can you make sure your credit card is not misused?
Are you repenting not covering valuables you purchased using credit card? Fret not!
Here's your chance to find out if a credit card number is valid or not in three simple steps.
You can gift your sister a Women Special Credit Card, which is not only loaded with exciting rewards for women, but they are also your sister's first step towards a better credit management.
Whether it is the virtual world or the physical one using your credit card with a few precautions go a long way in keeping it safe. Be cautious and do not become a statistic in the growing credit card fraud!
According to the latest data released by the Reserve Bank of India (RBI), the number of credit cards in the country increased by 128,000 in May. HDFC Bank added the most number of cards in May (69,974). State Bank of India (SBI) was next with 34,183 cards. SBI sells credit cards through SBI Cards, its joint venture with GE Capital. However, ICICI Bank and HSBC have reduced their credit card portfolios by 11,029 and 11,024, respectively.
Air Deccan has introduced credit card masking system to enhance security for its passengers paying through credit cards.
There is a general tendency to carry more and more credit cards nowadays. But how many credit cards should one hold?
Credit card is a powerful credit tool to help you tide over short term financial requirements.
A political controversy has erupted in Navi Mumbai after Maharashtra Deputy CM Eknath Shinde's name was omitted from official invitation cards for a civic event, leading to protests by Shiv Sena workers. The incident has also exposed infighting within the BJP, with an MLA accusing a minister of sabotaging her projects and falsely claiming credit.
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.
Take the Rediff Business Quiz and find out how much you know about the credit card and its origins.
