Having cleaned up their credit card portfolios and sensing a change in the economic environment, issuers such as SBI Cards, Standard Chartered and HSBC are seeing an increase in their credit card base at a marginal pace.
Your credit card could end up being a debt trap if you don't understand how to use it.
We asked Get Ahead readers to send in their opinions on the credit card vs debit card debate. Here are a few interesting and harropwing responses from readers about their credit card experiences.
Credit card complaints were followed by those related to banks' failure to keep their commitments, while complaints related to deposit accounts, remittances and loans and advances accounted for other problems of the customers.
Credit cards are like Swiss knives: extremely indispensable in an emergency but they need to be handled with care lest they cause serious injuries.
Banks provide incentive for customers who use balance transfer by providing a low interest or interest free period.
Tighter norms, better economy reduce credit card non-performing assets.
Here is a quick guide to the course of action a credit card holder should take, to prevent/minimise misuse or losses
Credit cards come with insurance covers that help in circumstances like accidental death or loss of goods, says Amar Pandit.
Can you imagine your life without a credit card? Whether it's to make payments online, shop till you drop, or for use as a lifeline in an emergency, the arrival of the credit card has been fortuitous both for the consumer, as well as the credit card company.
All credit cards and debit cards issued by any Indian Banks (except Canara Bank) and authorised issuers of Visa and MasterCard International or any other affiliated with Visa are accepted for booking of rail reservation tickets.
Does the balance transfer facility on credit cards benefit you? If so, how? What should you do to avail such a facility and what does it cost you to do that? Aditya Prasad explains the finer points of availing balance transfers on credit cards.
Are you actually managing your finances, or do you swing from month to month on pure chance and luck? Now is the time to take control.
Being vigilant while using your credit card is the only way of preventing fraud. Here are some tips.
A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holders promise to pay for these goods and services.
Balance transfer gives you an opportunity to reduce the card burden. However, use this method judiciously.
In 2024, the National Payments Corporation of India (NPCI) approved 20 third-party Unified Payments Interface (UPI) applications, a record since UPI's launch in 2016. This surge reflects growing interest from financial technology (fintech) companies, driven by the integration of credit products like UPI-linked credit cards and pre-approved credit lines.
If you ever face a situation where your card transaction is declined, it is advisable to call your bank and check with them for the cause. In most cases, unless it's a fraudulent issue, the problems will be resolved on the phone.
Credit card companies cannot employ illegal means to recover dues from you. If you are being harassed, this is what you should do.
Bankers are confident that unlike the last time, there would not be significant erosion in asset quality, since their expansion strategies are backed by rich information on borrowers' credit histories.
Here's a checklist you must know before signing up for such a card...
While banks may offer a good credit limit, look at your salary and needs before spending.
Join Rajiv Raj of Credit Vidya on how you can protect yourself from credit card frauds and identity thefts at 2pm today on Rediff ZaraBol.
The card offers special features like multiple reward points, weekend bonanza points, petrol surcharge waiver and 500 special gift reward points to be credited annually on the Teachers day, HDFC Bank said in a statement.
Do you save to spend or spend to save? If you belong to the second category, reward points can only harm your financial health.
Our readers write in with suggestions and tips on how to make your credit card work for you.
Credit cards appear to have found favour with public sector banks, which had, so far, been reluctant in expanding their unsecured loan portfolios aggressively.
Used intelligently, a credit card will get a smart buyer more value than what he pays for. Here's how you can push that plastic further
Used intelligently, a credit card will get a smart buyer more value than what he pays for. Here's how you can push that plastic further
India is pushing for greater disclosures by credit card companies, fintech firms, and payment aggregators (PAs) at the Financial Action Task Force (FATF), so that the sender and recipient in a cross-border financial transaction can be easily identified and the information shared with law enforcement agencies. Separately, the inter-governmental group, which sets standards to curb money laundering, will release the fourth round of its mutual evaluation report on India on September 19. FATF in June had adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category - the highest rating given by the global watchdog and a distinction shared by only four other G20 countries.
State Bank of India, the country's largest lender, on Monday asked borrowers to control credit card debt and get rid of high-cost liabilities at all cost.
For the past few months I have had some hilarious and some utterly infuriating experiences with banks and credit cards and thought of sharing them with you: not just to vent my frustration, but also to ring a warning bell. Please be careful, please read your credit card statements properly, and also please keep a record of all the freebies (read 'life-time free card' offers, etc) that banks promise.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
The central bank says interest on card balance should not be levied till next bill.
Of the 66.56 million cards, co-operative banks have issued about 32.71 million cards. Regional rural banks have issued about 12 million cards while commercial banks about 25.5 million cards.
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.
We hope this information can help you save and trigger more money saving ideas in your mind.
Your monthly credit card statement is the best document that will help you understand your monthly spending.
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