Thank you for your interest in Credit Card from HDFC BANK. Unfortunately, we do not have a tie-up with HDFC BANK currently.
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Thank you for your interest in Credit Card from HDFC BANK. Unfortunately, we do not have a tie-up with HDFC BANK currently.
Talk to our experts to apply for a similar offer from our partner banks instead
Credit Cards are a boon for anyone who does not love to carry cash around. Earlier, for every transaction that you made, you had to pay for it in cash. The case is not the same after the invention of plastic money such as credit and debit cards. A credit card allows people to pay for goods and services at merchant stores around the world.
There are many banks and financial institutions in India that offer different types of credit cards such as travel credit card, entertainment credit card, lifestyle credit card, co-branded credit card, etc. Providers generally classify these cards based on the annual income of the cardholders. Different cards offer different rewards so cardholders can choose a card depending on their requirements. For example – if someone shops regularly, a shopping rewards credit card will benefit them more compared to other types of cards.
|How to use a credit card?||Compare Credit Cards||Benefits of Credit Cards||Features of Credit Cards|
|Credit Cards in India||Document Required|
It is very easy to use a credit card. When banks issue a credit card, they create a revolving account for that card. Once the customers receive their credit cards, they can use it to make purchases on credit. This credit is actually the amount that cardholders have borrowed from the card issuer. They have to repay the outstanding amount at the end of every billing cycle. There is a limit on the amount of credit that one can use and cardholders should make sure they don’t exceed this limit.
To make payments using their credit cards, cardholders have to simply get their cards swiped at merchant stores and authenticate the transaction by entering their PIN number. Some credit cards do not require you to enter a PIN number. If you are using your card to make online payment, make sure the website is a secure one. Enter your credit card details on the checkout section and authenticate the payment by entering the PIN or OTP (One Time Password).
|Bank||Tenure (Min-Max)||Interest Rates for Regular Deposit|
|Ranges between 37.2% p.a. and 42% p.a.||Some cards have no joining fee. For others, the fee will be communicated at the time of application.|
|3.83% per month (46% p.a.)||Up to Rs.1,00,000 (the fee is different for different cards. Rs.1,00,000 is the joining fee for one card, which does not have an annual fee.)|
Kotak Mahindra Bank
|Up to 3.5% per month||Up to Rs.19,999|
|Up to 3.4% per month (Maximum charge in case of default is 3.5% per month)||-|
|Up to 3.25% per month||Up to Rs.30,000|
|Up to 3.5% per month (Maximum charge in case of default is 3.99% per month)||N.A.|
State Bank of India
|Up to 3.35% per month||-|
Note – The rates/fees and charges may be changed by the banks at any time.
Banks offer amazing features on their credit cards. These features vary depending on the card provider and the type of credit card that people purchase. Some of them are as follows:
Accepted Globally – Today, most credit cards that are issued in India are international cards and are accepted by various merchants all over the world.
Balance Transfer – Credit cardholders can transfer the outstanding balance of their existing cards issued by one bank to the credit card account of another bank. Doing so helps them in saving money and repaying the amount at a low rate of interest. Banks offer various balance transfer options to their cardholders, which allows them to repay the amount on a monthly basis within a tenure of their choice.
Instalment Payment Plan – Many banks offer the instalment payment option to their cardholders. This feature allows cardholders to convert their transactions into monthly instalments. Cardholders can choose the tenure for their EMI plan. Generally, these plans have very attractive interest rates. There are some banks that offer 0% instalment payment plans to their customers.
Loans on Credit Cards – Some credit cards offer pre-approved loans to their holders at low interest rates.
Utility Bill Payment – Credit Cards have made it easy and quick for people to pay their utility bills. Using their cards, cardholders can pay all their utility bills online at one go.
Alerts – Credit cardholders receive bill payment reminders via SMS and e-mail from their banks every month, which helps them in not missing out on their monthly payments.
E-statement – Most banks today provide e-statements to their credit cardholders at the end of every billing cycle. Cardholders can access this statement at any time online.
Joining Fees – When customers apply for a credit card, they have to pay a certain amount for enrolment, known as the joining fee. There are certain cards that do not have any joining fee as well.
Annual Fees – Every credit cardholder have to pay a fixed amount to renew their card every year. This amount is called the annual fee or renewal fee. This amount varies depending on the card that a person opts for. Some banks waive this fee for their customers for a period of minimum 1 year as benefit for achieving certain spends milestone.
Lifetime Free Card – There are some banks that offer lifetime fee credit cards, which means cardholders do not have to pay any annual fee for these cards.
Lost Card Liability – Many banks offer lost card liability coverage to their credit cardholders. This feature protects the cardholders from fraudulent transactions that made using their cards after they have reported its loss to their card provider.
Insurance Coverage – Some banks offer insurance protection on certain credit cards they offer. For example – travel insurance, life insurance, etc.
Cash withdrawal facility – Credit cardholders can use their cards to withdraw money from ATMs. Banks charge a small fee for the service and cardholders can instantly avail money in any part of the world.
24x7 Customer Care Service – Banks offer 24x7 customer care service to all their credit card holders. Some banks have a separate helpline number for their cardholders. Cardholders can contact on this number to get any assistance related to their card. For example – They can contact the department to avail concierge services, make card replacement requests, report loss of cards, etc.
Credit Card Bill Payment – Banks allow their credit cardholders to pay their credit card bills online and offline. Cardholders can use NEFT, Internet Banking, Cash, Cheques, etc. facilities to pay their bills.
Welcome Gift – Many banks offer a welcome gift to new credit card applicants once the card is issued to them. This gift can be in the form of bonus points, gift vouchers, discounts, etc. The welcome gift differs depending on the card and the bank.
Rewards Program – All credit cards generally have a reward program, which allows cardholders to earn reward points on every transaction they make using their cards. The amount of points that cardholders can earn per transaction is fixed and differs from card to card. The points that card members collect can be redeemed for various gifts that are listed in the rewards catalogue of the cards. These gifts can be discounts, product, services, cashback offers, etc. Some credit cards allow card members to redeem their points against air miles and cash as well.
Fuel Surcharge Waiver – Many banks offer fuel surcharge waiver to credit cardholders when they spend specific amount of money on fuel every month. This offer is available on fuel transactions made at all Indian petrol bunks.
Cashback Benefits – There are certain credit cards that offer cashback benefits to the customers. The amount of cashback that will be offered depends on the provider.
Lifestyle Benefits – Cardholders can enjoy various lifestyle benefits on their credit cards. Lifestyle benefits include dining, shopping, golf, wellness, entertainment, etc. privileges.
Travel Benefits – This is one of the major reasons for credit cards being so popular among people. There are some credit cards that offer amazing travel benefits to the customers. Travel benefits include air miles, airport lounge access, travel insurance, airline offers, hotel offers, etc.
Airport Lounge Access – Some credit cards offer complimentary airport lounge access to the cardholders. The offer varies from one bank to another. Some banks put a limit on the number of visits, while some others allow access only to Indian airport lounges.
Exclusive Privileges from Visa/American Express/MasterCard – Visa, MasterCard and American Express are three popular and recognized credit card variants. Depending on the variant of your card, you can enjoy exclusive lifestyle, travel, etc. offers from MasterCard/Visa/American Express.
Add-on Cards – Many banks allow their credit cardholders to apply for add-on cards for their immediate family members. Most card issuers offer add-on cards for free, but some of them limit the amount of add-on cards that one can apply for. Cardholders can enjoy all the privileges of their primary cards on their add-on cards.
Air Miles – Certain credit cards such as travel or Airline cards offer Air Miles to their customers. These miles can be JPMiles, Air India Air Miles, etc. Cardholders can collect these miles and redeem them to avail flight tickets and other travel benefits.
Most credit cards provide a grace period to the cardholders. Grace period is the time given to credit cardholders to pay off their credit card bills without incurring any interest on the outstanding amount. Grace period is also known as interest free credit period. The time period varies depending on the banks and the type of card. Generally, banks provide a minimum grace period of 20 days to their cardholders, starting from the day they receive their credit card bills. In India, most banks offer a maximum grace period of 50 days.
|Bank||Rewards||Annual Fee (varies depending on the card)|
|Citibank||Travel Rewards – Up to 10 miles per transaction. Up to 10,000 bonus miles a year. Reward Points – Up to 10 points per transaction. First Citizen Points – Up to 7 points per transaction. Turbo Points – Up to 4 points per transaction Cashback – Up to 5% cashback on transactions.||Up to Rs.20,000|
|IndusInd Bank||Reward Points – Up to 4 points per transaction. SpendMiles and PartnerMiles – Up to 3 per transaction. JP Miles – Up to 75,000 Miles a year. FlightMiles – Given based on the percentage of the ticket price. Savings Point – Up to 4 points per transaction.||Up to Rs.4,000|
|Kotak Mahindra Bank||Reward Points – Up to 10 points per transaction. Saving Points – Up to 10 points per transaction. Dining Points – Up to 10 points per transaction.||Up to Rs.5,000|
|HDFC Bank||Reward Points – Up to 8 points per transaction. More than 2,880 bonus points a year. JPMiles – Up to 30,000 Bonus Miles. Up to 18 miles per transaction. JP Tier Point – 1 point on reaching certain milestone. Amazing Cashback and Discount offers on certain cards.||Up to Rs.10,000|
|Axis Bank||Reward points – Up to 20 points on spends. eDGE Reward Points – Up to 20 points on spends. CV Points – Up to 6 points on spends. Award Miles – Up to 6 miles on spends.||Up to Rs.30,000|
|American Express||Membership Points – 1 points for transactions. Up to 11,000 bonus points on joining. PAYBACK Points – Up to 5 points on transactions. JP Miles – Up to 16 miles on transactions.||Up to Rs.50,000|
|State Bank of India||Reward Points – Up to 20 points on transactions. Up to 1,00,000 bonus points a year. Empower Points – Up to 500 points on achieving milestone.||Up to Rs.4,999|
Note – The above mentioned fees can be changed at any time by the banks. With regards to the rewards section, only the top rewards have been mentioned in the table. The banks offer other rewards besides these on their cards such as discount offers, cashback offers, etc.
Proof of Identity/ID proof – Applicants can submit one of the following documents as ID proof:
Proof of Address - Applicants can submit one of the following documents as address proof:
Proof of Income – All the applicants have to submit their income proof when they apply for a credit card. Salaried individuals have to submit the following documents as proof:
Apart from the above mentioned documents, banks can ask the applicants to submit other documents, if required.
The eligibility criteria for credit cards differs depending on the card you are applying for and the bank providing it. Most banks require the applicants to be at least 18 years old and earn a certain amount of income annually to apply for a card.
BankBazaar has made the process of comparing and applying for personal financial products very easy. The website has a user-friendly interface that allows people to navigate easily without getting confused at all. There are many reasons for applying for a credit card through BankBazaar. Some of them are as follows:
Simplifies the application process – BankBazaar has simplified the credit card application process for Indians. Now, you do not have to visit the bank’s outlet or every bank’s website to compare cards and then apply for them. You just have to make a few clicks and you can get the same done online on BankBazaar website in no time.
Compare – Before buying any personal finance products, it is advisable that you compare them. The process of comparing these products can be tedious and a lot of people tend to avoid it, which leads to them buying products that do not benefit them. To solve this problem, BankBazaar introduced a platform where people can compare credit cards offered by different banks online at one place. This not only helps them in making an informed decision, but also in getting the best credit card available in India.
Apply – After comparing the credit cards, you can easily apply for the card you like on BankBazaar’s website itself. You can find the cards you are eligible for easily and then click on the ‘Instant Apply’ button that is present next to the card of your choice. You can then fill up the application form and submit it online and within 30 minutes you will get a response.
Information – On the website of BankBazaar, you can find every single detail about credit cards. Besides this, the site also provides you with the latest credit card news and keeps you updated about the happenings in the Indian financial market.
24x7 Support – Apart from the above, BankBazaar provides 24x7 support to all its customers throughout the year.
Credit Cardholders can choose to convert certain transactions of theirs into monthly instalments. Card providers allow customers to choose the repayment period for their EMI (Equated Monthly Instalment) plans. Some banks nowadays offer 0% interest instalment payment plans to their credit cardholders. According to this plan, no interest is charged on the monthly instalments, which means cardholders have to pay the principal amount in parts within the tenure they have chosen.
Some banks charge a low interest rate on the EMI plans of credit cards. In this case, the EMI amount comprises of the principal amount and the interest rate. So, every month cardholders are supposed to repay this amount, until they clear off their debt. They can calculate their instalment amount per month before applying for the plan by using an EMI Calculator online. This calculator will help them in figuring out how much they will be paying every month if they opted for a certain EMI plan. To use the EMI calculator, they have to simply enter details like the interest rate, principal amount and the tenure in it.
Banks charge a particular percentage as the interest rate on the borrowed amount and this is applicable if the monthly outstanding amount has not been repaid by the card holder. The interest rate is calculated as the Annual Percentage Rate (APR) and always depends on the type of credit card held. The applicable finance charges are determined on a monthly interest rate percentage and is generally calculated on the average daily balance basis for credit cards. While picking up a credit card, customer can always compare the APRs offered on each card and then choose according to their requirements. Customers who can make regular monthly repayments, can choose credit cards with rewards programs and travel loyalty programs. These type of credit cards tend to have a slightly higher APR. If a customer is looking for flexibility with regards to payments and mainly for purchases, then a credit card with a lower APR should be taken. The APR is always determined based on the applicant’s credit score by any financial institution. All banks offer an interest free period ranging from 20 to 50 days to credit card holders as an additional feature.
Of course, the million dollar question. While the mechanics of using a credit card on a day-to-day basis isn’t too complicated, the associated back-end process associated with a simple card swipe is too technical for a common individual to comprehend. In actuality, the procedure is very simple and safe-
Borrowing from a popular axiom, ‘With great power comes great responsibility’, and the same holds very true in the case of credit cards. While a handy financial help, a source of ready cash and a safe and beneficial way to pay for your purchases, the misuse of this facility could be detrimental to your long term financial health. Credit card debt, defaulting on your monthly repayments or drawing up a massive pile of credit card purchases and consequently, a stiff interest rate are things to be constantly aware of. The best way to enjoy your credit card is responsibly and with caution and tolerance. While the temptation may be high to unleash a shopping spree with your brand new credit card, remember, the money you spend is not your own- it must be returned back, with interest and on time!!
A credit card can be used to purchase services and goods on borrowed credit from the bank that has issued the card. Every credit card comes with various privileges and benefits to suit the lifestyle of a customer.
Premier credit cards are signature cards from banks which come with flexible spending limits, lifestyle privileges, travel benefits, cashback offers, VIP lounge access, concierge services emergency assistance and complimentary insurance cover. Most premium credit cards can be procured only through invitation.
The cashback that is earned by a customer can be automatically got as statement credit from the bank.
A secured credit card is generally issued against a fixed deposit, which has been placed by the customer while availing the card. Any minimum amount due or late payment fee that has to be paid will be taken from the deposit. Secured credit cards help customer build a good credit history
A prepaid credit card works like a debit card, where the money is taken from an account associated with the card. Users can load cash on the prepaid credit card and can spend up to the available amount limit on the card.
Business credit cards come with features like business savings plans, rewards programs, cash advance facility, lounge access and customers can also get their company name embossed on the card.
Any customer should select a credit card according to his everyday needs and lifestyle requirements. The privileges offered with a particular credit card should be beneficial and should add value to a customer.
A credit card can be procured by an individual with a regular income and also having a good credit score. Most banks mandate that applicants should be above a certain age limit and should also meet a stipulated income criteria.
The minimum requirement to be met while applying for a credit card would be the age criteria. According to the bank, the age criteria varies from 18 to 21 years for a credit card approval to be got.
Customers can easily consolidate multiple credit card balances onto a single card and repay back with flexible tenure options at low interest rates.
Yes, most banks generally levy a certain percentage as processing fee, when a balance transfer on a credit card is done. The processing fee varies with different banks and customers have to pay this amount with the first monthly instalment.
Credit card holders can refer to their monthly statements to get the available credit limit. The other options offered to customers are via SMS banking or internet banking services. All banks provide these facilities, where customers can check the available credit by sending an SMS and receiving an alert or by accessing the statements on their internet banking accounts.
When a credit card balance transfer is done, every bank offers an interest free introductory period to the credit card holder. This interest free payment period ranges from 3 to 6 months after which the card holder has to repay the instalments with an additional interest rate.
A credit card can be used to purchase goods, book travel tickets, perform online transactions and also make reservations for services.
Yes, there are various co-branded credit cards available in the market from different card issuers. The privileges available in a co-branded credit card are generally determined by the issuing bank.
Yes, most banks give the option of increasing the credit limit available based on the usage pattern. Sometimes the banks might automatically increase the credit limit after reviewing the customer’s spending pattern. Otherwise if a cardholder wishes to increment the credit limit, then a special request has to be placed with the concerned bank.
The purchase introductory rate is the low interest rate that is offered during the first few months of the credit card usage. This introductory rate is generally given to customers with good credit scores. These rates might be applied only to purchase transactions or balance transfers done by the card holder.
Yes, most credit cards come with preset cash withdrawal limits, which is generally communicated by the bank to the customer at the time of approval. Banks might also levy additional withdrawal charges on every transaction done at an ATM within India or abroad.
A credit card is a payment card issued by a particular bank for customers looking to avail instant credits to easily purchase goods and services without spending a single penny from their pockets. The bank extends a line of credit with which the user borrows money, to be paid to a merchant. The cardholder is required to pay back the borrowed sum of money subsequently to the lender bank along with extra interest rates.
Customers need to get in touch with an executive from a bank of their choice and submit a filled-in application form with the required documents. The bank will process your application after appraising your credit history and will then approve the new credit card according to your requirements.
In India, banks charge the highest rate of interests for credit cards, from 36% to 42% per annum. A bank decides the interest rate for a particular customer based on his credit history, financial capability and also depending on the type of card he chooses. Applicants with good credit scores and regular payment patterns get the best deals on their credit card interest rates.
Banks in India have tied up with Visa, MasterCard and American Express (AMEX) to process credit card payments, connecting merchant accounts with the acquiring banks.
In India, banks generally offer credit cards to individuals above the age of 21 and with a steady monthly income. As part of their verification process, banks do a deep dive into the customer’s credit history and assess previous payment patterns to understand the customer’s financial situation. Only after ensuring that the applicant has the financial capability to repay the expenses incurred using a credit card, will the bank approve the customer’s application.
Yes, in India applicants are required to earn a minimum of Rs 75,000 to 1 Lakh per annum, though this criterion varies depending on the type of the card.
Annual Percentage Rate (APR) or the ‘’cost’’ at which a customer takes credit from a bank, is the simple interest rate charged by a bank on expenses incurred on a credit card for a year.
The best mantra while managing a credit card is to ‘’Pay as and when you can”. Delaying a credit card payment is not a wise option, as banks tend to impose high late payment fees and gradually increase the interest rates charged. The customer would actually end up paying way more than his original purchase amount.
Add-on cards can be taken for family members of the primary card holder with extra charges anywhere between Rs 125 to Rs 1000. The credit limit of the primary card gets carried over to the new card with similar features. Also customers can get a comprehensive bill with details of both the cards.
Global credit cards give a customer the leeway of instantly performing cashless transactions from any corner of the globe. Accepted worldwide, global cards give you the flexibility of spending in any foreign currency and later paying your bills in your local currency. A customer can also avoid the hassle of carrying huge amounts of cash or using traveller’s checks.
Credit card reward programs have been introduced by lenders to popularize the various cards they offer by rewarding a customer for transacting using their credit card. The cardholder is awarded points as per his expenditure for purchasing goods and services. The accumulated points can later be redeemed by customers for certain discounts and gifts as per the bank’s guidelines.
The Reserve Bank of India mandates the provision of multiple levels of authentication from banks, for customers using credit cards to make an online purchases. Additionally, customers are advised by banks to use their credit card credentials only in encrypted internet connections to avoid fraudulent transactions.
Customers can also use their credit cards as ATM cards and withdraw a stipulated amount of cash, preset by the bank as cash advance. Though this feature gives a customer access to instant cash, the bank charges very high interest rates for credit taken using this facility.
A. Customers can make outstanding credit card bill payments using the following online modes - Net Banking, NEFT / RTGS Transfers, Debit Cards, Mobile Applications, Standing Instructions, Visa Money Transfer, Bill Desk, etc. Offline modes include cash, cheques, demand drafts, etc.
What’s the fuss all about, huh? Let’s show you why.Reward #1
You can save up to 10% on your regular expenses including phone bills. Pile it on.Reward #2
Get free movie tickets by swiping your cashback card regularly. More spending = More moviesReward #3
Get up to Rs. 10,000 off on hotel bookings. Costless travel? Hell, yes!Reward #4
Most cashback card issuers offer free joining reward points. More points mean more goodies.
Go on, explore our myriad cashback cards and take home one you love.
Credit Card on your mind? Find out if you are eligible. Higher the income, higher is your eligibility. Poor credit history makes you less eligible. Age matters. Minors and senior citizens are less likely to get one. Your eligibility increases if you are working for a reputable company. There are several types of Credit Cards: Airline Credit Card (Free Air Miles for those who love travelling), Shopping & Cashback Credit Card (Exclusive offers and rewards for shopaholics), Premium Credit Card (Luxurious offers for entrepreneurs/self-employed individuals), Lifestyle Credit Card (Exciting rewards and offers in diners, movie theatres and other shopping outlets) and Fuel Credit Card (Fuel surcharge waived and turbo points for those who drive a lot). Wondering which documents you’ll need handy? Keep these ready: Photo ID for identity proof, Signed application form with photograph, Residence proof and Proof of income. If you are a salaried applicant, you will need: Salary payslip for the last 3 months, Letter of employment and Salary Certificate. If you are self-employed, you’ll need: Latest Income Tax Returns, CA Certified / Audited Balance Sheet and Profit & Loss Account and Business Continuity Proof. Well, you are now ready to own a Credit Card. Go ahead and find your perfect plastic mate, right away!
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22nd August 2016
Travellers all across the country can now book their flight tickets through a new mobile application launched by IRCTC called IRCTC Air. Users can use their existing IRCTC credentials to make their bookings through the app, while uses without any existing credentials can book their tickets through the guest login feature. IRCTC has stated that no fee will be charged when booking through their app, unlike many other online travel agents, although a Rs. 10 charge will be applicable per flight PNR if a booking is made via net banking. However, bookings made through the app via credit cards will incur a fee of 1.8% of the total flight fare. Customers can also make bookings by paying through cash cards from ItzCash, OxiCash, Beam Cash Card, which will incur a fee of Rs 10 or 1.5% of the total flight fare, depending on whichever is lower. In any case, when a booking is made through the IRCTC Air app, the customer will be provided with an entire list of any fees or charges that may be applicable.
20th July 2016
A recent study conducted by the Reserve Bank of India showed the number of credit cards as well as debit cards are steadily on the rise across the country. However, from the data gathered, Indians still seem to hold a preference for debit cards in comparison to their credit counterparts. As of March 2016, the number of credit cards in circulation in India stood at 24.51 million, while the number of debit cards in circulation at the same time stood at a whopping 661.8 million. Over the course of the last year, the country has seen an addition of 0.38 million credit cards and over 3.44 million debit cards. However, there has been a drastic rise in card usage over the last year, with the number of credit card transactions growing rapidly by 27 per cent, while debit card transactions grew by 48 per cent over the same amount of time. March 2016 saw a total of 72.22 million credit card transactions, and 112.87 million debit card transactions take place across the country.
11th July 2016
In a bid to tap into the cashless, electronic payment system, the Indian Railways is looking to introduce card payments at ticket counters across railway stations in India. With approximately 50 per cent of all passenger tickets sold through the Indian Railway’s online portal (IRCTC), the new plan aims to bring the remaining 50 per cent of tickets that are sold physically at reservation counters under the electronic payment system. By doing so, passengers will soon be able to buy tickets at these reservation counters with their credit cards, debit cards or RBI prepaid cards via the passenger reservation system (PRS). The Indian Railways also hopes that the new plan will not only bring the unreserved ticketing system (UTS) under the electronic payment system, but will see a reduction in transaction time and long queues, as well as an increase in the ease of payment. The plan also hopes to encompass freight transactions by Indian Railways, and is also looking at collaborating with digital wallet companies such as Paytm and many more.
7th July 2016
The Civil Aviation Ministry is planning to announce a host of passenger-friendly measures that include higher compensation for denial to board planes because of overbooking.
If you have reached the airport on time with a valid ticket that has been booked beforehand, but have been denied boarding pass by the airline, then you will soon be liable to get double the amount of the original ticket or the cost of the ticket on the given date, whichever is less. This will save you the trouble of spending up to 400% more on another ticket.
Similarly, the Ministry plans to hike the compensation for flight delays and cancellations. There will be a grievance redressal cell that passengers can access online too.
At present airline compensations range from Rs. 2,000 to Rs. 4,000, full refund of ticket amount or option to board another plane. The refunds usually take a long time unless the tickets have been booked via credit cards.
1st July 2016
Credit cards are registering exponential growth over the years, with the figures for 2015-16 showing that 3.4 million cards have been added to the economy, up 16 percent from the previous year. The total credit cards in India stands at 24.5 million at the end of March 31, 2016. Spending through credit cards has also increased by 26.7 percent over the year.
Axis Bank was the biggest gainer, with a 39 percent rise in credit card customers. It has 2.41 million cards in circulation and card-based expenditure of its customers recorded a growth of 46 percent. HDFC Bank, the top credit card provider in the country, saw a 22 percent increase to 7.28 million in the number of credit card customers.
27th June 2016
Students looking to apply under the Centralized Allotment Process or CAP for the undergraduate programs run by Mahatma Gandhi University, need not stand in long queues and wait for their turn to pay the application fees. MGU has launched its online payment platform where students can deposit the application fee and expedite the application process.
MGU has offered a “”Pay Now” button which when clicked will navigate the user to the online payment page which has options of paying by debit card, credit card or online banking. The last date for the filing of application is 9th June. All government college seats in Karnataka come under CAP and can be applied for using the online payment channel launched by MGU.
13th June 2016
Mobile wallet company Mobikwik and remittance company Suvidha Infoserve have tied up to help Mobikwik customers to load their Mobikwik wallets from any of the 90,000+ Suvidha stores across the country. This tie up will help customers load money in their e-wallet without using their credit cards or internet banking accounts.
The tie-up is innovative since it enables customers who do not have debit or credit cards to load money in their Mobikwik e-wallet which is an important payment option for the currently popular, e-commerce transactions. Customers who do not wish to share their private financial details like account number etc. can now freely make use of Suvidha outlets to deposit cash in their Mobikwik wallet and then make online transactions.
9th June 2016
San Francisco based taxi aggregator Uber has partnered with Paytm, the mobile payment platform to offer commuters the option of paying for taxi rides at foreign locations using Indian rupee. In a similar arrangement, Uber has also tied up with Alipay, backed by Alibaba to offer a similar payment solution to Chinese commuters using taxi services outside the country.
Uber is leaving no stones unturned to ensure it stays ahead of the competition in two of these biggest and critical markets in the Asian region. It faces stiff competition from homegrown players such as Ola in India and Didi Kuaidi in China. In a recent development, leading players in this segment from around the world have formed an alliance to compete against Uber to offer a network of services for commuters using local taxi apps for travelling in the respective countries.
25th May 2016
The India division of Michelin Tyres has decided to offer its products to the consumers on an equated monthly instalment basis. This offer is valid on passenger car and light truck tyres.
The EMI option can be chosen by customers who are making tyre purchases of more than Rs. 5,000 through their credit cards. This option will be available at Michelin Priority Partner and Tyreplus stores in the country.
The tenures available for the EMI purchases are the 3-month repayment plan and the 6-month repayment plan. No documents or signings are required to avail this alternative.
19th May 2016