Page 16 - Credit Card

Banks target weaker borrowers as credit growth slips: Why it's a risky bet

Unsecured loans can only offer banks a temporary shelter during a downturn in collateralised credit

Loan against credit card is an expensive way to get immediate liquidity

Loans against credit cards can be availed of quickly, but charge high interest rates, processing fee and prepayment penalty

SBI proposes to dilute stake in credit card business through IPO route

State Bank of India (SBI) on Wednesday said it is planning to dilute stake in its card business through the initial public offer (IPO) route. The country's largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited. The Executive Committee of Central Board of the bank at its meeting held on Wednesday "has given in-principle approval to explore the possibility of diluting SBI's stake in SBI Cards & Payment Services Private Limited, a subsidiary company through IPO route at an opportune time, subject to the approval of RBI and other regulatory agencies in this regard," the bank said in a regulatory filing. Further, specific disclosures on offer for sale (OFS) by promoters will be be given, once the same is finalised by the bank, it said. The bank had launched SBI Card in October 1998. In December 2017, SBI and the Carlyle Group acquired GE Capital's stake in the joint venture. SBI holds 74 per cent, while Carlyle holds 26 per cent in the ...

The right way to cancel your credit card without hurting credit score

When an individual cancels a card, he also reduces his overall available credit

With Cred, we want to make credit cards more powerful: CEO Kunal Shah

Shah believes that Cred, which incentivises credit card payments with reward points, may just help card firms take on the wallets

Want to improve your credit score? Follow these steps to cross 750 mark

Avoid utilising more than 30 per cent of the limit on your card and use a monitoring service to correct errors in your score

Visa, Mastercard preparing to raise transaction charges from April: Report

A Visa spokesperson confirmed that the fee hikes would go into effect in April, 2019, but only for merchant banks, and not merchants

Tokenisation to make your credit, debit card transactions a lot safer

Tokenisation feature will protect card data in transit, but not before and after

Your credit card just got safer: RBI allows networks to offer tokenisation

The mechanism offers an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiration date and security code

Use credit card with discretion: Here're fees, charges and penalties

Among all financial products, it has the highest charges and penalties

Don't need high-end benefits? Zero-fee credit cards may work for you

Everyone likes a good deal, especially in financial products. A low fee is good, and zero fees even better. So, a zero-fee credit card sounds much better than one that attracts an annual fee. But do a cost-benefit analysis before selecting. Says Sahil Arora, vice-president and head of payment products, Paisabazaar.com: "As the name suggests, an annual-fee card means those who charge a yearly fee to continue using the card whereas zero-fee cards do not charge anything." For example, the HSBC Visa Platinum credit card has no annual fees. Arora adds, "A majority of credit card issuers often waive annual fees on spending a pre-set amount in the immediately preceding membership year." Some cards become no annual-fee cards when you spend certain amounts on them within a stipulated time. SimplyCLICK SBI Card is one such card that charges an annual fee of ~499, which is reversed on expenses of ~100,000 in a year.Says Navin Chandani, chief business development officer, BankBazaar: "To start ...

Use balance transfer facility on your credit card to ease interest burden

However, this can be used only for a limited time period. If the amount is too high, go for a personal loan

Why cashbacks are a better option than reward points in credit card space

Unused reward points come with the risk of getting lapsed if you don't redeem them

No credit card? No sweat. You can still eat, dress, shop now, and pay later

With smart new apps, you can buy groceries, clothes and movie tickets or dine today, and pay later, even if you do not have a credit track record

From fuel to travel, how to find right credit card to suit your lifestyle

By owning a variety of lifestyle-oriented cards, you can earn more rewards than those who own just plain-vanilla cards

Credit card attraction goes beyond big cities; loan growth remains flat

With e-commerce companies linking specific credit cards with steep discounts, a lot of the young middle and lower middle income salaried class are opting for credit instead of debit cards

One year of demonetisation: Credit card usage up, outstanding surges 39%

Number of credit cards rose sharply from 26.39 million in August 2016 to 32.65 million in August 2017

Super-premium cards should add value to your lifestyle

Don't get swept off your feet by a card's aura or prestige

Credit card bill payment exempt from cash dealing limit: Revenue department

Income Tax Department has exempted five entities from the purview of this Section

Know all costs before you swipe a credit card

After demonetisation, people are expected to use plastic money more than ever before