September 05, 2023 07:26 AM ISTBusinesses 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.
August 31, 2023 04:14 PM IST 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.
August 23, 2023 09:48 AM IST 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.
August 21, 2023 10:54 AM IST 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.
August 20, 2023 07:30 PM IST Equitas Small Finance Bank was also investing in developing a mobile application to serve merchants and help improve their business operations.
August 12, 2023 03:28 PM IST Buy now, pay later goes back to at least 1934, when American Airlines and the Air Transport Association issued the first Air Travel Card.
August 11, 2023 08:10 AM IST Stretching the card limit, missing payments, and inactive cards are among the few reasons your bank may decide to cut your credit card limit.
August 08, 2023 10:17 AM IST 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.
August 04, 2023 06:00 PM IST 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
August 03, 2023 03:15 PM IST 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 01, 2023 07:42 AM IST 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.
July 24, 2023 12:09 PM IST 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
July 20, 2023 09:25 AM IST 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.
July 17, 2023 10:06 AM IST 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
July 14, 2023 08:32 PM IST 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.
July 14, 2023 09:41 AM IST 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.
July 13, 2023 09:51 PM IST 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
July 07, 2023 05:30 PM IST A tax plan should be designed to minimise distortions and promote economic efficiency. This involves aligning tax rates and incentives with desired economic behaviours, avoiding excessive complexity, and encouraging productivity, investment and innovation
July 06, 2023 07:30 PM IST RBI in the draft circular said that card issuers shall issue cards across more than one card network and they should provide an option to the customers to choose any one among the multiple card networks.
July 05, 2023 12:02 PM IST Before the pandemic, 60 percent of credit card spending was face-to-face, while 40 percent was through e-commerce. However, data from Visa now indicates this pattern has almost reversed.
July 04, 2023 12:40 PM IST Experts interpret the new TCS rule, but cannot agree on whether it applies to international credit card transactions done from India
June 30, 2023 04:50 PM IST A higher tax deducted at source or TCS of 20% on certain categories of overseas spends will now come into force from October 1, 2023, the finance ministry has said. This will apply to debit cards and forex cards. But if you use your credit card overseas, you will escape the TCS for now, until banks are ready with their IT infrastructure.
August 16, 2023 09:48 PM IST Do not upgrade or switch to a new credit card only for better offers and rewards. Also consider applicable fees and charges, impact on your credit utilisation ratio and spending habits.
August 16, 2023 09:58 PM IST Credit cards usually come with attached advantages, like joining benefits, free complimentary lounge access, air miles, club memberships and so on. This involves cost. The question then is: Do credit cards make money? You would be surprised
June 30, 2023 09:08 AM IST RuPay credit cards issued by banks which can be linked to the UPI facility offer benefits across categories, including travel, shopping and fuel. But such convenience comes with the risk of overspending, which can lead to high credit card dues.
