The Diners Club, which was created partially through a merger with Dine and Sign, produced the first "general purpose" charge card and required the entire bill to be paid with each statement. Home Credit Cards Credit Cards. Credit Card- Compare and Apply Online. This deposit is held in a special savings account. If you spend a lot of money on entertainment, compare various cards available in the market that might benefit you. Credit Card- Apply Online Nowadays, it is very easy to avail a credit card if you meet the eligibility criteria. In case of online transactions, a two tier authentication system is followed, where apart from the information on the card such as card number, expiry date and CVV, an OTP or secret password is also required to complete the online transaction which is sent to your registered mobile number.
Use 'credit card' in a Sentence
Credit card fraud is a wide-ranging term for theft and fraud committed using or involving a payment card, such as a credit card or debit card, as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity . A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the . Apply Credit Card Machine for Your Business: Johor Bahru, Kuala Lumpur, Perak, Pulau Pinang / Penang, Kuching, Malaysia. CCM provides credit card .
This fee is payable if the card holder does not make timely payments. Cash Withdrawal Charges- The cash withdrawal interest is an amount that is charged in case the card holder uses their credit card to make cash withdrawals against their card. GST depends on the value of the transaction that is inclusive of interest, fees and other charges.
Foreign Currency Transactions- This fee is a defined percentage of the transaction value for any transactions that are made on a foreign land. Over-limit Fee- If the card holders' fees, purchases or finance charges exceed their credit limit, an over limit fee is charged from the card holder.
How to find the right credit card? With a number of credit cards available in the market offering a variety of benefits, choosing the right credit card depends mainly on where your major spending pattern lies.
It also depends on how you would want to make your credit card bill payments. There are however, a few features that you should take into account before you compare credit cards and decide which one is the best for you.
Cash back is an option available with a number of credit cards. Under this scheme, your purchases will also give you back some credit on your account.
Checking which cards have a cash back option is beneficial in the long run. It is important to check the applicable interest rates of different credit cards. Even though one might have the best intentions, delayed payments are not that uncommon. So, with a lower interest rate, you will lose less if the payments are delayed. A number of credit card providers offer discounts on various goods and services that are purchased through their own or partner organizations. Reward schemes are a prevalent benefit of credit cards and different cards offer points or benefits at particular vendors.
So choose credit cards with rewards programs that suit your needs and match your spending patterns. Card Fees and Charges: It is important that you check all the applicable charges like the annual fees, reward point fees, fees for exceeding credit limit, international transaction fees, cash advance fees, etc.
Another aspect to keep in mind is to take a look at the minimum repayment value required by the card issuing institution, as well as the length of the interest-free period if any. Credit Card - Eligibility Criteria The eligibility for a credit card differs from provider to provider. However, the basic criteria are as follows: You should be at least 18 years old.
Whether salaried or self-employed, you must have a regular source of income to pay back your credit card bills minimum income bracket differs from one card to another. You must not have a bad credit history. Documents Required for Credit Card Application The documentation requirement also varies from issuer to issuer, some of the key documents required to apply for a credit card are as follows: Income proof for Salaried Individual: Latest 3 months' salary slips, Salary account bank statement for six months.
Latest IT Returns with computation of income and other certified financial documents along with business continuity proof. How to use a credit card? A credit card company enters into agreements with various merchants for them to accept their credit cards. The credit card issuer issues a credit card to their customer.
When a bank issues a credit card, a revolving credit line is created for the customer and this line of credit may be used by the card user to make purchases or to get cash advances by using their credit cards as ATM cards. The card holder then receives a monthly bill that can be paid off before the due date without incurring any interest for using the credit provided by the card issuer. When a purchase is made, the cardholder is basically agreeing to pay the card issuer the amount that has been incurred, at a later date.
While making a purchase, the card holder has to swipe the magnetic strip of the card on a card machine at the shop. The merchant copy of the receipt generated needs the card holder's signature for validation. Newer cards feature the more secure chip and pin system, where the chip on the card is read by the merchant's card machine and a four or six digit pin is required to complete and validate the transaction.
Apart from using the card through physical presentation, as discussed above, the booming online shopping industry has also benefited hugely through the availability of credit cards. Credit Card Interest Rates. There are various factors that can affect the credit card interest rates and interest is applied on any balance you owe on your credit card. Credit card interest rates are the highest among various debt instruments available to the customer. Things to Know about Credit Cards.
About Credit Cards When you make a purchase using your credit card, you are essentially taking out a short-term loan. The interest that is applicable on this loan will depend on when you pay it back. If you are able to make payment before the due date, there will be no applicable interest. Credit cards also have a small grace period before the payment is due in any billing cycle, which can be around days.
Paying before the end of the grace period will help you avoid any interest, while paying less than the total balance will accrue interest on the average daily balance. Why get a credit card? With a number of benefits supporting credit cards, the most important one is that it can help you build your credit score.
Good credit, in turn, will help you obtain loans much easily in the future and also negotiate for a lower rate of interest. It also helps in getting lower insurance premiums.
Apart from this, there are a number of credit cards with rewards programs that can offer card holders with a number of extra benefits like reward points, shopping benefits, etc.
Credit Card Grace Period Say you have a credit card billing cycle of 5th January through 4th February, and the due date is 1st March, then any purchases that are made within the period will remain interest free until the due date. This is the grace period that is offered for credit cards in India, after which the balance will be subject to interest. Any cash advances that are taken on your credit card do not enjoy the benefit of a grace period. Interest Rate If the cardholder does not pay the full credit card bill before the due date, the entire outstanding balance will attract the applicable rate of interest for credit cards.
Not just the balance, any new spending on the card will also have these interest rates applicable, until the entire balance has been paid off. However, in the case of a cash advance, unless the card holder pays off the entire bill balance each month, there will be no grace period for them. Low interest credit cards are available, and should always be looked into whenever you compare credit cards.
When the credit card holder does not pay the credit card bills on time, then interest is applied on it which leads to accumulation of credit card debt. Being late on paying credit card bills is referred to as default.
Late penalty fee can also be applied on the accumulated credit card debt. Understanding Credit Card Numbers On the front side of your credit card, there are 16 numbers which are unique to your card. American Express and Diner Club cards have 15 digit numbers. These are not just random numbers; you will be surprised to know that every single number carries a specific meaning. Let us break down these numbers and understand what they mean.
In fact, it is only the first number that defines the major industry, that is, the banking and financial industry. Next is the account number which identifies the user. Different banks and card issuers may have different lengths and number sequences when it comes to the account number of the user. It is used to confirm the initial digits of a credit card and prevents casual attempts to make up new credit card numbers.
This is how you can implement this formula- Step 1- Double every odd number on credit card starting from the right. Suppose your card number is Step 2- Now add these digits to the un-doubled numbers. Add the double digit numbers to form a single one. So now the sequence is- 1, 5, 2, 9, 1, 8, 4, 8. Since the above number is 67 and it is not divisible by 10, this credit card number that we started with in step 1 is a fake number.
Apart from these, a CVV and issue and expiration dates are assigned to your card. CVV are security codes for different credit card providers. Credit Card Reward Points. Every time you use your credit card, you earn some reward points.
Accumulated reward points can be redeemed against gift vouchers, merchandise or direct statement credit. The rate of rewards differs from one card to another and also on the basis of spending. For example, some cards may offer extra rewards on grocery spend while another card may give you more rewards when you book flight tickets or hotels.
These are credited directly into your credit card account unlike reward points which have to be redeemed. Add-on credit cards are issued under a primary credit card and all transactions are directed to a single account for the payment of dues. It is useful for students who are living away from their parents and also for those who cannot have a credit card of their own.
Add-on cards supplementary card facility is mostly offered on premium credit cards. Mostly, the credit limit on an add-on credit card is the same as that of the primary credit card, but according to certain bank conditions, the credit limit for supplementary cards is set lower than that of the primary card. If you have been issued more than one add-on card, the sub limit decided will be distributed equally among the add-on cards to match the total limit of the primary card.
This sub limit will also be applicable on any ATM withdrawals. The terms and conditions related to add-on credit cards may vary from one bank to another. The information about all the transactions that will be conducted is recorded on one primary account. So if you hand over the additional card to someone else, you can also keep track of the withdrawals and transactions along with the exact dates.
Benefits of Add-On Credit Card Add-on cards mostly enjoy the same credit card reward programs as the primary cards. This, however, may vary with each issuing bank, but the basic benefits are: Most credit cards allow the card holder to use these cards in India as well as in foreign countries for conducting various transactions like shopping. Supplementary credit cards too offer card holders the same benefits.
Both online and offline shopping can be done with add-on credit cards. The withdrawal limit set on a supplementary card may be the same as the primary card, or it might be less. But supplementary cards too have the option for cash advance. This implies that the card holder can withdraw cash from the ATMs any time of the day.
Reward or bonus points are added to your account each time you swipe a credit card. After you have accumulated a certain amount of reward points you can avail a benefit or a boost from your bank.
All supplementary credit cards also have the same features, the same amount of reward points are given for subsequent swipes, as is the case with the primary card. Monitoring the usage, spending habits and transactions made via a supplementary card is very easy as all cards are basically under the same account. Supplementary credit cards given to children or even parents provide them with financial freedom.
These cards are also very useful in case of emergencies. All transactions of supplementary cards and primary cards are recorded in the same statement. This can help the card holder in easy tracking. Upgrading to a New Credit Card. When it comes to getting your first credit card, it is usually one that is associated with your salary account.
Most of the times, the credit card is taken without any research into the features and the benefits, and without much comparison. Of course, all credit cards are not the same, which would make one wonder whether their card is the best card for them. Taking a new credit card, or getting an upgrade seems like the obvious solution to this, so here are the factors that you should consider before you opt for a new credit card: Credit limit If you upgrade your present credit card, you will be choosing an increased credit limit.
Getting a new card, on the other hand, will raise your overall credit limit. This would imply that you would be able to spend more without putting an undue burden on your credit usage.
Spending value This depends on the type of card that you choose. There are a number of benefits that you can avail from the numerous offers and rewards. If you already have a credit card that offers you benefits on fuel, maybe the next card you choose could have rewards on shopping or even fine dining. In other words, do your research and apply for a card that covers benefits on spends that were not previously covered.
It is not an uncommon occurrence and if you are one of the people who fall in this category, getting your card upgraded or getting a new card will make sense for you. With this, as long as you are able to keep your expenses under check, you will not have to worry about putting stress on your credit score. Loan approval An increased credit limit is able to sway a lot of people into extra expenses.
But if you are able to resist that and keep your expenditure in control, it will reduce your risk factor and you will be viewed as a 'safe' borrower by the banks.
The simple reason behind this is that you show limited card usage and have access to more credit; this will improve your credit score gradually. You will also be able to receive negotiated interest rates on loans. Cash flow management An additional credit card can actually help you in better managing your cash flow. You can ensure that you are able to manage your monthly budget perfectly with a simple step.
Ensure that the new card that you take has a billing cycle that is different from that of your present card. If you have a billing cycle for your present card that is billed at the end of a month, when you apply for a new card, opt for a billing cycle that is billed mid-month.
This way you will be able to split your expenses. Annual fee, penalties and interest rates One of the main factors that you should consider is that by taking a new card your total annual fee will increase. The same is the case when you upgrade your card. With an upgrade, you will also see a hike in the annual fee that you are already paying.
The penalties that are applicable on exceeding the credit limit of credit cards will also increase, along with the charges imposed on ATM withdrawals or purchases made overseas. If you are unable to make the repayments on time, you will also be charged a greater interest rate on the outstanding balance.
Upgrading your credit card or even applying for new cards may seem like a great idea, but it is a decision that must be taken only after due consideration of your needs and capabilities. Frequent upgrading or purchase of new credit cards will make you seem as financially irresponsible and will end up affecting your credit score. Ineligibility due to income All credit cards have a varying requirement for the minimum income of an applicant.
If you do not meet that minimum requirement, your credit card application may get rejected. It is recommended that you should try to search for cards that are aligned with your income bracket to avoid any rejection on this basis.
Banks have a list of areas that are blacklisted and where they do not provide any services. Incorrect Information False or even incomplete information on your application form is also one of the reasons that your application gets rejected.
The bank will not call you to supply any missing information, but will straight away reject it. So, it is a good idea to spend some time going over your filled application form and correcting anything that seems out of place, wrong, or incomplete. Discrepancies in the Credit Report When a change is to be made in your credit report, it usually takes some time.
It is also possible that some previous debt of yours that has been cleared are not updated on your credit report. Bad credit history A credit history is what shows your prospective card issuer your risk perception. The following are a few of the situations that would show you as a risky customer: If you already have too many loans, the issuer would presume that your finances are already stretched thin and that will cast doubts on your repayment capabilities. Too many credit card applications: Applying for a number of credit cards simultaneously will make you come forth as desperate and again cast doubts on your repayment capabilities.
Excessive credit card usage: Credit Score This is one of the most common and obvious reasons for the rejection of a credit card application. This will ultimately affect your credit card applications. Just visit our website and check whether you qualify for a credit card or not.
Once you check your eligibility for a credit card online at Paisabazaar, it displays a list of popular credit cards based upon your eligibility. You can then go in for a comparison which helps you to make an informed choice. Post comparison, you can apply for a credit card online at Paisabazaar. Paisabazaar gives you the leading-edge, here's how: Go for an exhaustive credit card comparison.
Apply online for a credit card, with reference to your credit card eligibility we offer you the best credit cards in India. You can then compare credit cards against different criterion. Finally, you can make a choice from the list of best credit cards in India. The main reason why people wish to take a credit card is so that they can convert their high-value purchases into easy Equated Monthly Instalments EMI.
So, what are these EMIs? EMIs are used to pay off both interest and principal on your borrowing so that over a period of time the entire loan is paid off in full. Credit card EMIs can be calculated manually or using an excel sheet to cross-check whether your bank is charging you fairly.
The result will come in negative or red highlight, which indicates that it is cash outflow. Using the above formula, you will get the same result as you got from the excel sheet. However, both these calculations are lengthy and complicated.
There are numerous credit card providers in the market offering several benefits and features on their cards. So, it is a difficult task for an individual to find the perfect card. Here are a few reasons why you must apply for a credit card through Paisabazaar. Financial decisions need thorough research and comparison. Credit card debt, defaulting on your monthly repayments or drawing up a massive pile of credit card purchases and consequently, a stiff interest rate are things to be constantly aware of.
The best way to enjoy your credit card is responsibly and with caution and tolerance. While the temptation may be high to unleash a shopping spree with your brand new credit card, remember, the money you spend is not your own- it must be returned back, with interest and on time!! Use your Credit Card wisely to positively impact your Credit Score. Paying only the minimum due, maxing out your credit limit, skipping payment due to a dispute and multiple rejected applications affect your Credit Score negatively.
Avoid these and your Credit Score will thank you for it. Check out our Credit Card offers! After the demonetisation drive, a large number of people have started using their Credit Cards. Banks are seeing an increase in Credit Card applications. To avoid the rush, apply today! We have plenty of cards to choose from.
Going overboard with your Credit Card can dent your wallet. We have some advice for you. Follow a strict budget, pay more than the minimum amount due, try balance transfer and clear high-interest debt first - you're set! Take a look at our amazing Credit Card offers. Did you know that your payment history plays a big role in determining your Credit Score?
Every time you miss a payment or delay one, you're putting your Credit Score at risk. The good news, however, is that you can improve your payment history and rebuild your Credit Score over time with the help of a Credit Card. Take a look at our offers. Did you know that a Credit Card can help you bring back your lost confidence?
If you would rather check out our offers, you know what to do. Well, the beautification part is done. The clothes you wear reveal a lot about yourself.
A positive body image can boost your confidence. Hit the gym, enrol for Zumba classes or kickboxing, or jog in the park. No more cash worries to stop you from hanging out with people. Go out, enjoy with your friends and let your Credit Card take care of the bill. All it takes is a Credit Card to save your dying self-esteem. Apply now and get your confidence back.
The most important part of your card is the magnetic strip on it. Exposing it to magnets or strong magnetic fields might stop the card from working. Avoid storing your card in a location or manner that will result in bending or scratching the card. It isn't all that difficult, right? Just some precaution and your card will stay with you for a long time.
Take a look at our offers on Credit Cards. Applying for a Credit Card and using it are fairly simple tasks. But is that all there is to it?
Read on to find out a few lesser-known facts about Credit Cards. Don't have a card yet? Credit Cards rule your Credit Score. Your Credit Card usage impacts both. Make sure that your Credit Card issuer reports your credit activities to all four credit bureaus in India. Not all card issuers share information with all the four bureaus.
Not paying your Credit Card dues will only send your Credit Score spiralling downwards. Closing a Credit Card account can reduce the total credit available to you. Get a Credit Card that suits your lifestyle, spend wisely and pay your dues on time. Then watch the magic unfold. For starters, how about a Credit Card with zero joining fee? Yes, you heard it right. It offers free airport lounge visits too! Hooked on online shopping? This card offers 5X reward points for all online spends.
Also, earn 10X reward points on spends with exclusive partners. What're you waiting for? Bitten by the travel bug? Also, earn a reward point on every Rs. Who doesn't want that? Want to feel special?
Also, get one-day approval on all of these cards. Good things don't last for long. Grab these offers NOW! Uh-oh, not eligible for these cards? We have other equally amazing Credit Card offers exclusively for you! You thought a Credit Card was all about using credit and paying bills?
Credit Cards can actually be rewarding. Batman may not have superpowers, but his alter ego is a financial superpower in his own right. Give it a shot? Credit Cards give you reward points every time you swipe.
Redeem these points for goodies! Cashback Credit Cards can give you cash back on selected purchases. With the Kotak Delight Credit Card, get cash back on all dining and movie spends. You could get fuel surcharge refunds, shopping coupons and more with your Credit Card. Get free flight tickets using your Credit Card! Legend has it that Batman is almost done paying off the instalments on his Batmobile. Did you know Batman sits on rooftops every night looking for his lost wallet?
Just slip it in your pocket. Even Batman needs to keep track of how he spends his fortune. There are things you must never use your plastic buddy to pay for. Credit Card for big ticket purchases? Think about your budget before burdening yourself with a huge debt.
Remember, you still have to repay the bank. What looks good on TV might not look as good in reality. Think twice before spending on all those fancy gadgets. Frequent fine dine can make you whine. Pick your card and get started now. Did you know that some people can't really handle a Credit Card?
If you think you're a responsible user, please take a look at our awesome offers. Chronically irresponsible, we say. And they're usually on a tight budget. A Credit Card is clearly not for them. Cash remains the preferred choice of payment for most of us. However, going cashless is a better option. If you agree, explore our offers right away. Tired of queuing just to withdraw money to pay for your food delivery?
How about paying online using your Credit Card, Debit Card or any digital wallet the next time? Getting paid via cheques is a headache. Quick money, it is! When you go cashless, there is less risk as compared to carrying a lot of currency notes in your wallet or bag. A cashless mechanism can help plug the loopholes in the public systems, prevent black money, smother grey economy and increase tax compliance.
Get yourself a Credit Card and make the move now. Some say that Credit Cards are the new way of life. Here are the reasons why:. Spendthrifts say Credit Cards lead to debt. The rest are using their cards to earn rewards, cashback and special discounts on purchases, cushioning the pressure arising out of the rising cost of living. Everything is sold at a marked-up price nowadays and paying in full will definitely burn a big hole in your pocket. Instead of borrowing, wise people pay for small, unexpected expenses with their Credit Card.
There is a grace period from your time of purchase to the payment due date in which you can pay it all off without any interest. A Credit Card statement is a record all your purchases. Get a Credit Card, mate! Spending on experiences rather than material things tends to make you happier.
For example, shopping alone versus a hiking trip with friends. What makes you happier? Do something to make someone smile. Every little effort counts. Take a vacation with the ones who matter to you or go solo. Travelling can make you happy.
Spend more on the simple joys of life. A long drive, your favourite ice cream and someone you love. It beats shopping for expensive stuff. Money can make you happy if you use it right - with the perfect Credit Card, of course! Choosing the right Credit Card is as easy as We tell you how. Do you already know how to choose a Credit Card that suits your needs?
If you hate charges, choose one with zero annual fees. Annual fees can go as high as Rs. Fuel surcharge waiver - check. Reward points - check. Free vouchers - check. Choose the card that gives you the rewards that you want. The lower the APR, the better. Choose one that works for you. Then, start exploring our many Credit Cards that offer you a world of benefits that you so deserve.
It takes some self-control and some thought. Here are some tips to keep in mind. You could take a look at our offers in the meantime.
Once you get a Credit Card do not let it sit idle. Make small purchases, which can be easily repaid. This will help you build a good credit score. Using up all your credit every month is not ideal financial behaviour. Stick to utilising percent of your credit limit. You can have as many Credit Cards as you like. Just be mindful to leave a gap of a few months between each application.
Your Credit Card details are precious. Once you get your card, do not flash it around. Keep it securely in your wallet and do not divulge the PIN to anybody. With these tips, you should be ready to get a Credit Card.
Get started, right away. Here are some handy Credit Card tips before you get your plastic mate. Go all out and clear the bill in full. Move to a new card issuer offering a lower interest rate on dues. Get the right Credit Card for yourself. A Travel Card for the globetrotter, a Cashback Card for the shopaholic. Make the perfect choice and save big. No need to fret about payment due dates any more. Give instructions for a direct debit to your bank and automate your Credit Card bill payments.
Setting up a website is the best way to tell people about your business. Buying a domain is not too expensive and doing so with your Credit Card can earn you reward points. Use your Credit Card to purchase the necessary items and earn cashback. Get an Airlines Credit Card if your work demands travelling. The joining bonus in the form of flier miles and discounts on hotels will help you lower the operating cost of your business.
You can beef up your Credit Score by paying your dues on time. You can explore our range of Credit Cards and get the one that best fits your business requirements. Here are some useful tips for all you beginners. Interested in a second? Make sure you stop swiping as soon as you cross your budget. Your Credit Card bill will give you the option to pay a minimum amount or the full amount.
Pay the full amount. Making part payments will attract interest on the unpaid amount. Banks consider your finances thoroughly before setting your credit limit.
Credit Cards give you the option to withdraw cash from ATMs. Using a Credit Card is very simple. Allow us to change your views. Or are you looking for the one that best matches your profile? Banks allow you to set geographic limits to use your card. There is no chance of your card getting used in Timbuctoo by a hacker. Banks provide you with apps that you can use to block and unblock your card. You can fix a daily transaction limit for your Credit Card. This way, you can lend your card to the most irresponsible of your friends without worrying about misuse.
You can choose merchant categories that your card can be used at. Great way to curb that shopping impulse that your spouse has, eh? Most cashback card issuers offer free joining reward points.
More points mean more goodies. Shopping gets better with a Credit Card. You can get rewards , choose to pay in EMIs , get cashback and save money with great discounts. Still looking for a Credit Card? There are so many Credit Cards that give you amazing rewards when you shop. Why do you need cash? With a Credit Card, you can choose to pay in installments that are easy on your pocket. If you shop with a Credit Card, get ready to enjoy discounts on online shopping websites.
Shop more, save more. Here are a few factors to consider when you choose your perfect Credit Card. Interest on your Credit Card is charged on a yearly basis. It is a fee that you pay for using the card. Credit Cards have an annual fee that is charged to the cardholder. Some charges that are included as a part of the annual fee are late payment charges, cash advances, any requests for increased credit limit and balance transfer.
A grace period is the number of days you will get to pay your Credit Card bill after the due date. The grace period is usually days to clear any outstanding dues. But, remember that cash withdrawals on your Credit Card attract high interest rates. Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners.
In the current time and age, when a small pin to large plane is available online, transactions have also been moving from POS terminals to online, which does not require a credit card or debit card to process the transaction.
In this scenario, some industry experts are wondering about the future of plastic money. Are the physical credit cards and debit cards fade away? Do we get digital alternatives for the same? The questions seem more relevant as the credit card and debit card usage in India has been rising since the last decade.
However, regarding the physical usage of the cards, data from the Reserve Bank of India RBI shows that the number of transactions through payment cards is also on the rise.
The increase in debit card usage during the period is largely attributed to the launch of RuPay cards in India under the Pradhan Mantri Jan-Dhan Yojana scheme which aims to increase the access to home-grown financial services. The RBI data also revealed the number of credit cards and debit cards in usage as of June While the number of credit cards reached 3.
The amount of credit card transactions in the month of June reached Rs. The use of debit cards for online transactions as well as POS transactions increased post demonetisation. One of the prominent features advertised by credit card issuers is the worldwide acceptance of a specific credit card. However, the issuers often fail to tell you that the global feature comes with a cost.
The same applies even for online transactions conducted in another country or on a foreign website. The primary fee charged on your credit card for using it abroad is the mark-up fee or foreign currency transaction fee and cash advance fee.
The percentage may look small, but for bigger transactions, the amount may run into thousands of rupees. Secondly, the cash advance fee is charged when you use your credit card to withdraw cash from an ATM in a foreign location. While the cash advance fee in India is typically Hence, in order to avoid the additional expenses, one must be cautious while using a credit card in a foreign location.
A pre-paid forex card is another alternative for a credit card. You can pre-load it in India and use it in required foreign currency abroad. The cards can be reloaded online at any time you want.
The contactless payment technology which is popularly known as tap-to-pay, is all set to pave the way for digital transactions. The move comes from RBI in order to expand the usage of the credit and debit cards can be expanded beyond merchant transactions.
The government is targeting billion digital transactions in the current year. A large number of banks are gearing up to roll out contactless debit and credit cards owing to the deadline. The adoption of contactless payment transactions is still in an early stage even though the NFC near-field communication -enabled payments already work on a majority of card machines.
A majority of the retailers have point-of-sale PoS devices that support NFC payments, however they are not aware of its usage. Most of the credit or debit cards issued lately come with a NFC icon on the back. The NFC-enabled contactless credit and debit cards can also be a smart move against card fraud. This initiative comes at a time when payment companies have been experimenting and working to promote tap and go around the world.
Usually, when you use your credit card to pay your other credit card bill, a balance transfer fee will be levied. This fee is fixed by the bank and is conveyed to the cardholder while issuing the card. However, there are a few credit card providers who do not charge a balance transfer fee on such transactions. While Standard Chartered Bank does not charge a processing fee, they charge a 0. Kotak Mahindra Bank does not charge interest on such transactions either.
If you are considering to use the balance transfer option available on your credit card, get in touch with your credit card provider to know the fees associated with it. Before initiating a balance transfer, it is always recommended to check for the associated fees and go ahead with it only if it is financially beneficial. When you take a close look at your credit or debit card, you can notice many symbols and abbreviations that denotes the features of the card.
However, there is a new symbol which looks like the WiFi symbol on phones that may are talking about. This symbol indicates that your card is a contactless card and does not have to be necessarily swiped to make a transaction. If your card has this symbol, you just have to tap your card on a PoS terminal and your payment will be processed within few seconds. Contactless cards are gaining immense popularity worldwide.
Some of the benefits of contactless cards are that you do not have to give your card away to make a purchase, the payment is processed quicker, you do not have to enter your PIN to authorise a payment, and all the transactions are digitally tracked. So, go ahead and check if your card has this feature. Banks tend to meticulously gauge the financial history of a potential borrower before lending them credit. One of the most crucial parameters that they look into is the credit score.
A good credit score i. On the other hand, a poor credit score indicates that the person has low credit-worthiness and will not be able to make timely payments. It is observed that salaried employees stand a higher chance of availing credit with more ease than self-employed individuals or applicants of irregular income. One can improve their chances of being approved for credit by repayment of existing debts, controlled use of credit and not immediately availing for a loan or closing a current credit card.
Another method is to avail a secured credit card, which involves opening a fixed deposit at the bank as collateral. A score around has more chances of being approved for credit as it reflects acceptable credit repayment history and debt-income ratio.
Furthermore, it is noted that salaried employees have a higher chance of credit sanction as opposed to self-employed individuals. In order to boost up your credit score and work through failed application, one is recommended to avail for secured credit cards. A credit card surcharge fee is an additional fee charged by a merchant who receives your payment via credit or debit card.
As the credit card providers impose service fee for merchants to receive payments via credit or debit cards, merchants in return charge the cardholders a surcharge. Merchants can charge a surcharge as per the instructions received from their partners. There is a lot of debate if charging a surcharge on credit card payments is legal. Get in touch with your credit card provider or ask the merchant if you will be charged a surcharge if you swipe your credit card before making a payment.
Credit cardholders opt to close an unused card due to multiple reasons like purchase of more credit cards or restraint on credit card usage. There is no thumb rule on what must be done with unused credit cards. If your credit card has been dormant for more than 12 months, many credit card issuers can close the credit card. It is thus advised that one must use the card at least once in a couple of months.
An advantage of owning a card with a large credit limit is the positive effect on your credit score and lowered credit utilization. However, it must be noted that a cardholder is expected to pay the annual fee despite not using the card.
Closing your credit card could decrease your credit limit and subsequently decrease your overall credit score, thereby, lowering your chances for credit in the future. In case of closing the card, one can spread out the closures to avoid a hike in utilization, preserve the oldest card and the cards with the highest limit so that the credit score is not heavily affected. It is also highly recommended to not close a card right before applying for a loan. The past two years have witnessed a widespread expansion in the cashless economy of India.
Credit cards are rapidly shaping up to become an integral mode of payment with a surge in number of cards being issued from 2. According to the Reserve Bank of India, the transactional value has grown from Rs. The volume of transactions has also seen an increase from The leading banks of the country are issuing new cards at a rapid rate to keep up with the increasing demand.
SBI issues about two lakh cards every month. The active efforts put in by the banks to expand their credit card customer base and the new RBI guidelines have added to the sudden rise. Revised regulations that enable the customer to open fixed deposits to the credit limit has also boosted the surge. In cases of fraudulent transactions, the RBI has further declared that if the respective bank has contributed to the same or remained negligent, the customer will not be held liable.
Get More News on Credit Card. Santa Claus comes around just once a year. In the meantime, there are Credit Cards.. Enter your number below. Home Credit Cards Credit Cards. Select All Clear Filter. Show offers with 1st year fee upto:. Citi Rewards Card 4. IndusInd Bank Platinum Card 4. Kotak Royale Signature Credit Card 4. Close Compare, check your eligibility and apply for credit cards online. What is Credit Card? Credit Card-Apply Online How to use a credit card?
Bankbazaar Credit Card Special Offers: Super Duper Deals by BankBazaar: Apply for a credit card to avail Amazon gift voucher worth upto Rs. No Annual fee for the first year This is applicable for all the customers The offer is valid till further notice. Depends on the kind of card one is applying for. American Express Ranges between Up to 10, bonus miles a year. Reward Points — Up to 10 points per transaction.
First Citizen Points — Up to 7 points per transaction. SpendMiles and PartnerMiles — Up to 3 per transaction. JP Miles — Up to 75, Miles a year. FlightMiles — Given based on the percentage of the ticket price. Savings Point — Up to 4 points per transaction. Saving Points — Up to 10 points per transaction. Dining Points — Up to 10 points per transaction. More than 2, bonus points a year. Up to 18 miles per transaction. JP Tier Point — 1 point on reaching certain milestone.
Amazing Cashback and Discount offers on certain cards. Axis Bank Reward points — Up to 20 points on spends. CV Points — Up to 6 points on spends. Award Miles — Up to 6 miles on spends. American Express Membership Points — 1 points for transactions. Up to 11, bonus points on joining.
JP Miles — Up to 16 miles on transactions. Up to 1,00, bonus points a year. Empower Points — Up to points on achieving milestone. Credit Card Interest Rates Banks charge a particular percentage as the interest rate on the borrowed amount and this is applicable if the monthly outstanding amount has not been repaid by the card holder.
Different Types of Credit Cards Airline credit cards: Some of the benefits of holding an airline credit card are as follows: It helps you save on your flight tickets. Most airline credit cards also offer discounts and cashback on hotel bookings. Depending on the credit card you own, you might also get free lounge access in domestic and international airports. Co-branded credit cards exclusively designed for travelers usually have a strong reward program which allows the cardholder to earn reward points.
Most credit card providers allow their cardholders to redeem these reward points against flight tickets. What are the key benefits that Premium credit cards offer?
How is redemption done on a cashback credit card? How is a secured credit card issued by a bank? Secured credit cards help customer build a good credit history How does a prepaid credit card work? What are the features of a Business credit card? How can a customer select the best suited card for himself?
Can a credit card be procured by any individual in India? What is the minimum criteria for applying a credit card in India? What are the key benefits of the balance transfer option on a credit card? Do banks levy any balance transfer fees on customers choosing this option on their credit cards?
How can users check the available credit on their credit cards? What are the highlights of the introductory period of a credit card balance transfer? What are the type of purchases that can be made using a credit card?
Do credit card issuers in India offer co-branded credit cards? Can customers increase the predetermined credit limits on their credit cards?
What is a Purchase introductory rate? Do credit cards come with specific cash withdrawal limits? How does a credit card work as a cashless payment instrument?
How do I own a credit card in India? How important is it to understand the interest rate charged by a bank on a particular credit card? What are the different payment networks utilized by banks in India for credit card transactions? What are the eligibility requirements to be fulfilled while acquiring a credit card? Is there a minimum salary criterion required to be met while applying for credit cards in India?
What does APR refer to with respect to a credit card? Do banks levy any charges for late payment of credit card bills? Do add-on or supplementary cards carry the same features as their primary credit cards? How do global cards help a frequent traveller? What do credit card reward programs offer? What measures are Indian banks required to take to avoid credit card fraud? How does the cash advance facility help an Indian credit card holder?
What are the different online and offline modes available to customers for making credit card bill payments? In actuality, the procedure is very simple and safe- Purchase over, you hand the credit card to the retailer to pay for your purchase. He swipes, with an accompanying smile, of course.
The verification is with regards to your credentials, validity of the card and availability of sufficient balance to pay for the purchase. Next, it generates an approval code that is transmitted to the merchant.
At the merchant outlet where you stand for the clearance to affect quickly, the retailer receives this code and must key it in to obtain two charge slip copies from the POS system. One of these slips signifies your agreement with the card issuing bank to pay for the current purchase. You sign on this slip and return it back to the retailer. The other copy is yours to take away from this transaction. Safe, comprehensive and fast, all of these steps were affected in less than 2 minutes.
How a Credit Card can boost your confidence Did you know that a Credit Card can help you bring back your lost confidence? Pump Some Iron A positive body image can boost your confidence. Hang Out More Often No more cash worries to stop you from hanging out with people. Tips to protect your Credit Card Here's how to avoid physical damage to your Credit Card and ensure a long, healthy life.
Magnetic Strip The most important part of your card is the magnetic strip on it. Extreme Temperatures Too much heat or cold isn't good for your card. Room temperature - cool! No Bending Avoid storing your card in a location or manner that will result in bending or scratching the card.
Protective Cover Most banks provide a protective sleeve along with the Credit Card to store it in. Cover All Bases Make sure that your Credit Card issuer reports your credit activities to all four credit bureaus in India. Get Rewarded Credit Cards give you reward points every time you swipe. Fly Away Frequent Flyer? Track Your Expenses Even Batman needs to keep track of how he spends his fortune.
Get your Credit Card from us and we will make it even more rewarding for you. Go on and explore! Big Ticket Items Credit Card for big ticket purchases?
Teleshopping What looks good on TV might not look as good in reality. Fine Dine Frequent fine dine can make you whine. Can you handle a Credit Card? The Reckless Spender These guys love to spend money. And they never think twice before spending too. The Careless College-goers They're inexperienced.
Go ahead and get yourself a Credit Card. Goodbye, Queue Tired of queuing just to withdraw money to pay for your food delivery? Ciao, Cheques Getting paid via cheques is a headache. Au Revoir, Risk When you go cashless, there is less risk as compared to carrying a lot of currency notes in your wallet or bag.
Adios, Fraud A cashless mechanism can help plug the loopholes in the public systems, prevent black money, smother grey economy and increase tax compliance. Here are the reasons why: Affords You Luxury Everything is sold at a marked-up price nowadays and paying in full will definitely burn a big hole in your pocket. Best Form of Instant Loan Instead of borrowing, wise people pay for small, unexpected expenses with their Credit Card. Experiences Matter Spending on experiences rather than material things tends to make you happier.
Annual Fee If you hate charges, choose one with zero annual fees. Rewards Fuel surcharge waiver - check. Balance Control Using up all your credit every month is not ideal financial behaviour. Research Well Get the right Credit Card for yourself. Direct Debit No need to fret about payment due dates any more. Always remember, good credit habits mean a good Credit Score. Are you set for a Credit Card now?
How a Credit Card can help start a B. Do you know a Credit Card or two can help you start a business? Here are some tips: Buy a Website Setting up a website is the best way to tell people about your business.
Stay Within your Means Banks consider your finances thoroughly before setting your credit limit. Set Limits Banks allow you to set geographic limits to use your card. On And Off Banks provide you with apps that you can use to block and unblock your card. Fix a Number You can fix a daily transaction limit for your Credit Card. Place Restrictions You can choose merchant categories that your card can be used at. Now that security is sorted, shall we take a look at your offers?
We have plenty of them! Reward 2 Get free movie tickets by swiping your cashback card regularly. Reward 4 Most cashback card issuers offer free joining reward points. Go on, explore our myriad cashback cards and take home one you love. Raining Rewards There are so many Credit Cards that give you amazing rewards when you shop. Credit Cards also give you cashback discounts. Are you still waiting to start shopping?
Discounts If you shop with a Credit Card, get ready to enjoy discounts on online shopping websites. Interest Rates Interest on your Credit Card is charged on a yearly basis. Annual Fees Credit Cards have an annual fee that is charged to the cardholder. Grace Period A grace period is the number of days you will get to pay your Credit Card bill after the due date. Have you found a Credit Card that suits you yet? Credit Cards from Top Banks. Credit Cards by Category.
Credit Card Bill Payment.