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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
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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.
- June 30, 2023 11:45 AM IST
Do not upgrade or switch to a new card only for better offers and rewards. Also consider applicable fees and charges, impact on your credit utilisation ratio and spending habits.
- June 29, 2023 08:39 AM 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.
- June 29, 2023 07:41 AM IST
On a year-on-year basis, data with the FSR showed that the NPA for credit cards has increased from 9 percent in March 2022 to 18 percent in March 2023
- June 28, 2023 01:37 PM IST
Kotak Mahindra Bank customers can select from seven RuPay Credit Cards to use seamlessly on UPI, the bank said in a statement.
- June 28, 2023 08:41 AM IST
For SBI Card, the downside of the spends is ironically its focus on growth. Chasing growth has meant tapping into geographies with lower per capita income and spending power such as small towns
- June 23, 2023 05:47 PM IST
The UPI is expected to account for 90 percent share of retail digital transactions volume in the next five years
- June 30, 2023 03:50 PM IST
Forex cards work like debit or charge cards that you can load up before you travel abroad. Every swipe deducts the amount from your card. On the other hand, your credit card gives you reward points at every swipe.
- June 23, 2023 11:24 AM IST
Morgan Stanley in a note assigned an ‘overweight’ rating on SBI Card with a target price of Rs 1,155, indicating a 32 percent upside for the current market price
- June 21, 2023 10:15 AM IST
According to RBI data, in April 2023, India had over 8.6 crore credit cards outstanding, a growth of around 15 percent from 7.5 crore in April 2022.
- June 08, 2023 06:06 PM IST
Do not be tempted to overspend, pay your credit card dues in full before the due date, and do not chase milestone benefits linked with your card. Most of all, learn to live within your means.
- June 02, 2023 04:54 PM IST
When using roadside assistance, it's crucial to understand that this service is not meant to replace comprehensive auto insurance coverage. Roadside assistance typically covers immediate breakdowns and emergencies, but it does not provide coverage for accidents, repairs or general maintenance
- May 30, 2023 02:31 PM IST
In value terms, payment transactions carried out through credit cards increased by 47.3 percent.
- May 29, 2023 09:55 AM IST
Credit cards are just a mode of payment not a permanent source of funds. They cannot and should not be a replacement for having a separate emergency fund. Or for living within your means, for that matter.
