The following post is a sponsored post. Most users have a very basic understanding of credit cards and how they work. To most users, these cards simply represent a line of credit, albeit one that attracts interest. This however, isn’t entirely true. While all credit cards allow you to make instant purchases without needing to […]
Here’s something that I found in my Inbox over the weekend (emphasis mine) — I am writing to you on behalf of Standard Chartered Bank to explore an opportunity to review its latest offering — instant online Credit Card approval solution. Please find below details for the same. Standard Chartered Bank, India’s largest international bank […]
Quietly tucked away at the bottom of my credit card statement was this Cash Back offer from HDFC Bank on their credit cards. I opted for the 1.5% cash back on Apparel and Department Store purchases. Having read the terms and conditions, I think this cash back in on top of any reward points earned […]
From the Credit Card Terms sheet: How we apply payments? We may (but need not) apply payments we receive to pay: fees, charges and interest shown on any statement; then any cash balance shown on the statement; then any other balance shown on the statement; then any cash transaction not shown on the statement; then […]
My first tryst with a credit card was about twelve or thirteen years back. My elder sister had just started work at a local software firm where her salary was directly credited into an HSBC Savings Account. Not too later, HSBC offered her a Silver Credit Card with a grand credit limit of Rs 20,000. […]
There’s a general rule of thumb for financial products that you should run away from: “The fancier the product verbiage used in its marketing literature, the faster you should run away from it.” Let me ask you a question. What’s the first thought that comes to your mind when you see a big bold ad […]
From the “Important Information Document” bundled along with the Manhattan Platinum Credit Card application: Death and Insolvency of a Cardholder: The entire outstanding dues in the Card account shall become payable in full by your successors or assignees in the event of your death or insolvency or winding of your business. Credit APR = 37.20% […]
Recently, D and I made two major purchases for our home. On both occasions, we paid for the respective purchases in cash. On both occasions, however, I could have made the choice to use my credit card. On the first purchase, I would have earned 250 reward points. On the second purchase, I would have […]
@ 08.05 AM: From: TD-TXNALERT Thank you for using your XXXX Bank Credit Card for YYY.ZZ in ACQUIRER OPERATIONS @ 10-Mar-2011 08:02 AM. Now, I don’t carry my credit cards in my wallet. My credit cards don’t charge an annual fee. So where did this SMS come from? I was all ready for a fight […]
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Telemarketer. Peddling an SBI Credit Card. Rs 800 in coupons (God alone knows for what) along with the credit card. A Rs 500 charge upon first usage. Seems they’re very upfront about disclosing these charges. I almost asked how much those coupons cost SBI to begin with. What a scam!
From HSBC: You continue to enjoy a reduced interest rate of 3.25% p.m. (39% p.a.) on extended credit on your HSBC Credit Card ending XXXX. I’ve had this card since 5+ years and have never made a late payment. If my interest rate for being loyal and punctual is 39% p.a., you can imagine what […]
Booking a SriLankan Airlines flight, billing amount in $, enter credit card information, successfully Verified by Visa, transaction rejected, call center says I need to authorize the website through Internet Banking. What’s the whole point of being Verified by Visa?
If you find yourself drowning in credit card debt and have no idea on how you’re ever going to repay all that debt, you can try the Dead on Last Payment technique. The method focuses on quick psychological wins — definitely what you need when you’re swamped with credit card debt. Let me know if […]
A random thought had me rummaging through my credit card statements for arriving at this conclusion: The fuel surcharge is indeed zero, but you’re still paying the service tax! A good reminder for what I’ve said before: Always check for service tax charges. Does your credit card do the same?
Reader Gopal asks, I can see my total credit card dues over the Internet. Can I pay off these dues even before I receive a statement from my bank? Sure. You can. In fact, I follow this policy [and I’d advise you to] — each time I use my credit card, I wait for the […]
Because, The Payment Due Date is the last date by which the bank should receive clear funds post processing towards card payment, failing which, future transactions may not be honored and late payment charges and charges on revolving credit plus service tax will be levied as applicable. [sniplet tip tuesdays]
Because the bank has the right to dip into your savings and settle your credit card dues. An extract from HDFC Bank’s Most Important Terms & Conditions for Credit Cards (version 1.23) reads: Right of Lien The bank, at any time and without notice, will have lien and right to set-off all monies belonging to […]
You might be wondering why your credit card dues simply keep spiraling out of control. The basic reason for this is that once you fall into the trap of not paying your outstanding dues in full, the bank levies all kinds of fees, interest, and finance charges and then tries to recover these before applying […]
I’ve previously written about creating a real emergency fund with real cash before you use your credit card for emergencies. It so happens that I’ve had to plan for a personal trip towards the end of the year and which will require me to use my credit card (for accommodation, air tickets, etc.). The earlier […]