Credit Card Charges

February typically sees a slight dip in spends compared to other months because it has fewer days. In January, spends had touched Rs 1.26 trillion, the second highest figure ever

Beware that on some expenses you could be levied a fee for card usage

When you are considering canceling a card, it should be taken into account how the cancellation of your credit card will affect your credit score

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

Spends have topped Rs 1 trillion level for five consecutive months now

RBI had barred the loading of prepaid payment instruments (PPIs) from credit lines

Paying hefty annual fee is justified if you can extract higher benefits from the card

HDFC Bank plans to aggressively issue cards after central bank withdraws ban, helping sector to make more gains.

Private banks put up a better show than other card financiers

A credit card does have some virtues; it can be beneficial in an emergency

Moreover, the number of credit cards outstanding is also projected to grow at fast pace of 23 per cent CAGR in the next five years

Credit cards: Avoid the minimum amount repayment trap

Yes, you will have to take some kind of loan, but it's better than paying usurious charges

The race to offer loans to customers who do not have any collateral to offer has prompted innovators to look at new sources of data on them

Here's how the charges and features of credit cards by different banks stack up