Recent posts in Credit cards category

  • A little care can prevent credit card frauds!

    was published at 7:50 AM, August 30th, 2010

    In case you have lost or have been robbed off your card, you’re in double trouble- your card could be used for a fraudulent purchase and you lose the convenience to pay though the card. Besides, you may have lost all your other important documents such as pan card, driving license [...]

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  • Caught in loans you cannot repay? Read this!

    was published at 8:06 AM, August 18th, 2010

    Try to lower your interest rate. Negotiate with your bank. One other way is to convert your credit card debt into a personal loan debt. It will definitely be lesser than the credit card interest rate. Calculate your net worth and see if any of your investments could help you prepay a [...]

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  • All about cash back offers on your credit card

    was published at 7:30 AM, July 20th, 2010

    Normally, banks place a cap on the maximum amount of cash back that it offers. It is important to check this because even if you have spent more doesn’t necessarily mean that you are going to get a cash back amount as per that transaction.

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  • Dangers of using credit cards

    was published at 7:00 AM, June 16th, 2010

    The one thing that he forgot was to be educated about the different features this card offered, read the agreement and understand the cost of using each of these features. The card offered a grace period or free credit period of 30 days. Thereafter, it charged 3.5 percent interest on the outstanding amount due. Mr. [...]

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  • Advantages of using a credit card

    was published at 7:15 AM, June 15th, 2010

    If you are diligent with your money, have a habit of keeping a track of your expenses or run into emergencies that calls for the usage of a credit card, then by all means you can prudently tap the advantages this piece of plastic has to offer! Credit cards do qualify as a good alternative [...]

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  • Credit cards can make money for you!

    was published at 7:14 AM, May 31st, 2010

    Use the bonus points that have accumulated on buying necessities (house hold appliances, clothes, groceries etc.) rather than using it on using it on things (luxuries) that aren’t really important to you. Only if the bonus points are used practically, you are actually saving cash because had to now have the bonus points, you would [...]

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  • The top 7 things to do with your credit report

    was published at 8:00 AM, May 7th, 2010

    Maintain and use your credit card. It serves as an excellent tool to boost a good credit score if utilised properly. However, the trick is to use it well and avoid making late payments. Things like not stretching it too close to your credit limit, regular use of the card but timely payments upfront is [...]

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  • 10 ways to use your credit card right!

    was published at 7:45 AM, May 7th, 2010

    Never exceeding 40% of your credit limit has a very beneficial effect on your credit score. This shows your credit limit is high but you have not burnt it up and have plenty in reserve. This logic helps you attain a much higher credit score. This is the same logic that [...]

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  • How to benefit from credit card reward points?

    was published at 7:37 AM, April 5th, 2010

    It is important that you read and understand the reward offers completely. Say Mr. Gupta had earned 10,000 reward points on his credit card. When he went to redeem these points he was in for a surprise - his reward points had expired in the previous month.  Since he had failed to read the fine [...]

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  • ABN lowers credit limit to a tenth

    was published at 1:00 PM, March 30th, 2010

    ABN Amro India has reduced the credit limit of some credit card clients to a 10th and hiked the minimum amount payable to 7% of total outstanding from 5%, mostly to convince them to give up their cards as it is nearing selling its retail operations to Hong Kong and Shanghai Banking Corp (HSBC).

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  • RBI grants full licence to Experian

    was published at 8:18 AM, February 19th, 2010

    The competition in this arena is expected to further strengthen the infrastructure capabilities of CIBIL, which currently has the first mover advantage and a huge database to its credit, not to mention a huge list of banks and financial institutions as its members. On the other hand the new entrants come with the rich experience [...]

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  • Protect yourself from credit card fraud!

    was published at 7:45 AM, February 2nd, 2010

    Whenever you use your card, always ensure that the transaction is completed in front of you and that no details are written down by the merchant. Do not provide photocopies of both sides of the credit card to anyone. The card verification value (CVV) which is required for online transactions is printed on the reverse [...]

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  • What is CIBIL?

    was published at 7:00 AM, January 18th, 2010

    CIBIL acts as weeding mechanism, that helps identify poor repayment track records. It helps protect lenders from giving credit to people and establishments who are unlikely to repay what is lent. Even if credit is provided, it is done so at a very high rate of interest, thereby ensuring that the bank is able to [...]

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  • A behind the scenes look at how credit cards work

    was published at 7:30 AM, January 4th, 2010

    Credit card is a powerful credit tool to help you tide over short term financial requirements. However they must be used judiciously, as any misuse of the card can attract stiff charges and make you fall into debt trap, besides destroying your credit rating. So the watch word is  - BE [...]

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  • You can’t be too careful with your credit card!

    was published at 7:00 AM, December 16th, 2009

    Closer to home, an 18-year-old IIT student posed as a bank executive, got credit card details from customers, and then used the data to book air tickets and buy laptops. He tied up with a travel agent to cancel the tickets and share the returns, while he sold the laptops across the country at a [...]

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  • Preparing a budgeting plan to save for a rainy day

    was published at 7:45 AM, December 3rd, 2009

    Once you have identified the fund boxes — Spending forecast, contingency fund for job loss and medical expenses, be dedicated and generate your money flow into these funds consistently. This could be once a quarter but it would be more manageable if it’s once a month.

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  • Choose a credit card based on your need!

    was published at 7:00 AM, November 20th, 2009

    The rapidly evolving banking systems have enabled credit cards emerge from a simple tool for cashless transactions to multiple types with different interest rates, fees and reward programs.

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  • UCO bank to raise Rs 900-950 crores from FPO

    was published at 12:36 PM, October 22nd, 2009

    The UCO Bank is expecting to raise Rs 900-950 crore from follow-on-public offer after a rousing comeback in the stock market. The revival of the stock market has encouraged UCO bank authorities to revise estimates of premium for the issue from Rs 50 to over Rs 60 a share.

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  • UCO Bank posts 38% rise in net profit

    was published at 12:11 PM, October 22nd, 2009

    Kolkata-based UCO Bank has reported a 38.40 per cent rise in net profit to Rs 207.72 crore for the second quarter compared to Rs 150.09 crore in the same period last year.

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  • Central Bank eyes 25 pc growth in home loans

    was published at 12:08 PM, October 22nd, 2009

    A top official of Public Sector lender, Central bank of India said in Mumbai that the bank was expecting its home loan segment to grow by 25 per cent in the current fiscal, which would widen the portfolio size to Rs 10,000-crore.

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