A Paisabazaar report titled “Making India Credit Fit” says that awareness of credit has gone up sharply among young customers.
The key to maximising value is understanding the features and benefits of your travel card and using them smartly.
If the ratio is high and consistently so, it might indicate the individual is relying heavily on credit and may be under financial stress.
With effect from October 1, 2023, the new TCS regulations apply to your international spending such as overseas tour packages, forex, remittances, and so on. Whether you're a business owner, a frequent international traveller, or simply curious about how the TCS would be levied, this video is a must-watch.
There are several benefits that you can derive from having more than one card, including using them as backup and for efficient cashflow management, but these can easily backfire if you don’t have the highest level of financial discipline and responsibility
Look for a credit card that not only amplifies your spending power but also offers you complimentary membership to renowned hotel and airline loyalty programmes.
The government has clarified that standalone purchases of foreign flights or hotel stays are not considered as a purchase of an overseas tour package; they are covered under LRS.
At present, the company has a tie-up with ICICI Bank for a co-branded credit card as part of which over 42 lakh credit cards have been issued as of June 2023.
Businesses are categorised by a unique number called the Merchant Category Code. This determines what rewards you get, or not. When a wrong MCC is configured in the banking system, it could land you in trouble, besides depriving you of your rewards.
Marriott Bonvoy and HDFC Bank have launched India’s first co-branded hotel credit card. For those who like staying mainly at Marriott hotels, this card is a good thing. But keep in mind that it also aims to convert travellers into Marriott hotel loyalists.
Complimentary visits to airport lounges, which were once a big draw to attract new customers, are now a burden. Banks and credit card companies are now cutting down on free visits.
Credit card balance transfer method is one of the many ways to reduce your credit card debt. But make sure you have the discipline to pay off your debt in time. But if the debt is too high, a credit counsellor is a better option.
Equitas Small Finance Bank was also investing in developing a mobile application to serve merchants and help improve their business operations.
Buy now, pay later goes back to at least 1934, when American Airlines and the Air Transport Association issued the first Air Travel Card.
Stretching the card limit, missing payments, and inactive cards are among the few reasons your bank may decide to cut your credit card limit.
As per the New York Fed, the youngest Americans aged 18-29 years had the highest credit card delinquency rates in the first quarter of 2023.
Learning to choose the right shopping credit card is a skill in itself. Weighing the fees and charges against the rewards and benefits you expect from the cards needs some thought. Experts tell you what to look for and prioritise
Credit card debts must be carefully managed for long-term financial security. Most credit card holders tend to make a few common mistakes that take them deeper into debt.
August may be the last month to lock in your investments in special FD schemes offering high interest rates. You'd also need to verify your income tax returns, spend smartly as the festival season kicks off, and track the RBI’s monetary policy announcement for any repo rate hike this August.
Banks and credit card companies frown when users earn faster reward points through dubious means such as swiping personal cards for business purposes. Axis Bank did the same. Here’s what happened
Home loans in the affordable housing segment, below Rs 25 lakh, have slumped. In the quarter ended June 2023, credit card payment defaults increased. The approval rate for loans to new-to-credit consumers, whom lenders typically approach with caution, was lower.
The IDFC First Vistara Card gets you more benefits than the airline’s other two co-branded cards, but you also need to hit higher spending milestones and pay higher joining/annual fees
Axis Bank has recently devalued some of its credit cards. Cards including Axis Bank Privilege, Axis bank reserve credit Card, Axis bank select, Axis Bank Flipkart Credit Card and my zone card will now provide lesser rewards and benefits. Watch this video wherein we explain why do banks devalue credit cards.
Sources said to CNBC-TV18 that credit card networks, banks and authorised dealers are gearing up for this eventuality and once systems are in place to account for individual forex remittances via credit cards, an implementation date will be considered.
The revised features of Flipkart Axis Bank Credit Card nudges the cardholder to spend more to earn the annual fee waiver. It has also removed a host of spends that were earlier for a cashback, thereby making the card less attractive than before