Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Advantage & Disadvantage of Credit Card Reviews

    • HDFC Bank Credit Card
      "Good to Hold"
      0.5 5.0/5 "Blown Away!"
      I am holding Titanium visa from HDFC, its a life time free credit card, I am holding it for seven years. HDFC won't charge anything extra, I never face any issue with that. I really appreciate about the billing part. Offers are same like other bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • ICICI Bank Credit Card
      "Interest rate should be nominal"
      0.5 5.0/5 "Blown Away!"
      Recently I done balance transfer from ICICI to HDFC because ICICI offered me 14% of interest on personal loan hence I switch over to HDFC for the interest rate of 12% it was low. I have paid the entire amount with 5% of interest on outstanding amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Axis Bank Credit Card
      "Need Improvement with the customer service"
      0.5 3.0/5 "Satisfactory"
      I tried reaching axis bank customer service but I can't reach them ever. The credit limit with this axis card need to be increased. The rate of interest is nominal with axis. The axis bank executive told its not possible to increase the credit limit because what I was having is a basic card with Axis bank. Even I have applied for the another card but there was no response from them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      For past one year I have been using HDFC Money back credit card, It has good cash back. For all kind of shopping HDFC is providing good cash back offers. I am pretty much happy about that. I used to get good notification and reminder call from HDFC on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • SBI Cards Credit Card
      "Very good card"
      0.5 4.0/5 "Great!"
      I have applied for the Simply save card with SBI. The Sbi executive came to my place and collected all the documents to process for the credit card. They have explained me about the card. I have reward point, cash back offers and other facilities with this card. I would say, It is very good card to use because many of the customers are using it and the credit limit also high when compared with other bank card. The interest rate is high when compared with other bank cards.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Average card to use"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC bank money back credit card for past 4 months. This card has the reward point, cash back offers, the fuel surcharge waiver. I am happy about the credit limit. The rate of interest is low when compared with others. The credit limit can be increased in future. I am happy using this Hdfc bank card.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Communication and Service part needs to be improved"
      0.5 1.0/5 "Really Bad"
      I was holding a HDFC credit card earlier later due to certain issues I had closed it. Without any intimation HDFC charged some credit card fee and I am holding salary account with same HDFC, hence they deducted Rs.40,000 from my account. I tried to inquire about the credit card charges and their customer service, But their response was very bad and they were very rude to me. Hence I closed all my accounts that I had with HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Credit Card
      "Better credit card"
      0.5 4.0/5 "Great!"
      I am using ICICI coral card, it has good reward points. In HP bunk petrol filling they used to get 2 points and for every 100 spent I am getting 1 point, still now I haven't redeem anything. ICICI offered the credit limit around Rs.40,000 its fine for my basic needs.
      Was this review helpful? 0
      , erode
      Reviewed on Jun 28, 2017
    • HSBC Bank Credit Card
      "Unprofessional"
      0.5 4.0/5 "Great!"
      Interaction with the HSBC executive was not satisfactory. The executive was not professional. Not informative. The executive was willing to convince the customer. The executive was well trained and reluctant to provide required information. The executive was only concerned about documents.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "World Best Opportunity Easy To Apply N Easy To Use Go Head.."
      0.5 5.0/5 "Blown Away!"
      Thank you bank bazaar you providing a best opportunity.Its Very Easy To Apply N Very Important Things Is Time Saving.Thanks for giving free registration and not cutting any amount for first year.. Giving more cash back and rewards.. Thanks to bankbazar... Really great.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Credit card application"
      0.5 4.5/5 "Excellent!"
      Credit card application make easy with exciting gift coupon other than applying it from out side vendor. You can upload all documents online too. It will not take more than 5 minutes from your schedule. Thank you Bank Bazaar team to fulfill my banking needs
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Good to use"
      0.5 4.0/5 "Great!"
      I do have HDFC credit card but I use very rarely, because I had an experience. I tried to pay the hospital bill by HDFC credit card but the machine was accepted my credit card then paid through my debit card, I use 99% only debit card. I am holding HDFC diner club card its a life time free credit card.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "CREDIT CARD"
      0.5 5.0/5 "Blown Away!"
      THIS IS ONE OF THE MOST COMFORTABLE SITE AND VERY FRIENDLY SITE TO UPDATE ONLINE FOR THE CREDIT CARD AND HELPED ME OUT AND GIVEN SUITABLE CREDIT CARD DEPENDS ON OUR ELIGIBLITY. AND MY ADVICE TO YOU ALL IS, TO USE ONLY BANK BAZAAR .COM FOR ANY FINANCIAL NEEDS.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 5.0/5 "Blown Away!"
      On the website itself, I have completed all the formalities easily like adhaar card details company details etc. They all require information for a basic application without wasting time and once again thanks to Bank bazaar. com. Thanks & regards Haroon Rasheed Hyderabad
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Excellent service by bankbazaar.com"
      0.5 5.0/5 "Blown Away!"
      User friendly excellent service from Bank bazar.com This is the only website which will assist you the best by giving the product information Bank credit cards packages my mails messages phone calls and the response from bankbazaar it's excellent. Bankbazaar.com which is helping to get our needs in limited time with best offers this website is helpful for the public. So thank you for giving me the best support from customer service care.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • HDFC Bank Credit Card
      "Better service for customer"
      0.5 4.0/5 "Great!"
      HDFC is good they not adding any over limit charges, I am using jet privilege card. I could redeem the reward points only for the flight ticket bookings. HDFC bill are clear, they updated everything on time an every month they gives gentle reminder and proper updates about the offers.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 27, 2017
    • SBI Cards Credit Card
      "Looking for better feature"
      0.5 2.5/5 "Just OK"
      SBI taking too many charges for the credit card, example If I have a credit limit of Rs.50, if I use upto Rs. 49,000. SBI taking some over limit charges. Many times I raised the complain to waiver off the charges its very bad. Points are good in SBI for the transaction, for every spent of 100 points, I would be getting two points.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 27, 2017
    • HDFC Bank Credit Card
      "Better card to use"
      0.5 4.0/5 "Great!"
      I haven't used HDFC bank diners club card much. The reward points cash back offers are available in this card but I haven't used it. I am happy with the credit limit. The rate of interest is nominal with this credit card. The service which I get on my credit card is really great. I was holding this card for the past 5 years.
      Was this review helpful? 1
      , madurai
      Reviewed on Jun 27, 2017
    • HDFC Bank Credit Card
      "Very good card to use"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank money back is really good to use, because it has so much of offers with it, like cash back offers, reward points and etc the reward points can be redeemed as cash. I am happy with the HDFC bank money back credit limit. The rate of interest is nominal with HDFC bank card. I am satisfied using HDFC bank card.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Axis Bank Credit Card
      "Very good card to use"
      0.5 4.0/5 "Great!"
      I am holding this axis bank credit card for past 5 years. I am happy about the credit limit. The rate of interest is nominal with axis, when compared with others. The customer service and the response part is good with axis bank. I am a happy customer to axis bank.
      Was this review helpful? 0
      , kakinada
      Reviewed on Jun 27, 2017
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    Advantage & Disadvantage of Credit Card is Rated as "Excellent!" by 35853 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Credit Card BYTES FROM OUR KITCHEN

     A credit card has become an indispensable part of our lives, with its ease of use and convenient pay-back options. The discounts, offers and deals that a credit card offers are unmatched by any other financial products, and spell a bonanza for the wise user. However, credit cards can becomes debt traps if not used correctly, or if you spend more than you can repay when the bill comes around.

    If you’re new to the world of credit, here’s a list of the advantages and the disadvantages associated with your little plastic card.

    Advantages of Credit Cards:

    Easy access to credit- the biggest advantage of a credit card is its easy access to credit. Credit cards function on a deferred payment basis, which means you get to use your card now and pay for your purchases later. The money used does not go out of your account, thus not denting your bank balance every time you swipe.

    Building a line of credit- credit cards offer you the chance to build up a line of credit. This is very important as it allows banks to view an active credit history, based on your card repayments and card usage. Banks and financial institutions often look to credit card usage as a way to gauge a potential loan applicant’s creditworthiness, making your credit card important for future loan or rental applications.

    EMI facility- if you plan on making a large purchase and don’t want to sink your savings into it, you can choose to put it on your credit card as a way to defer payment. In addition to this, you can also choose to pay off your purchase in equated monthly instalments, ensuring you aren’t paying a lump sum for it and denting your bank balance. Paying through EMI is cheaper than taking out a personal loan to pay for a purchase, such as a television or an expensive refrigerator.

    Incentives and offers- most credit cards come packed with offers and incentives to use your card. These range from cash back to rewards point accumulation each time you swipe your card, which can later be redeemed as air miles or used towards paying your outstanding card dues. Lenders also offer discounts on purchases made through a credit card, such as on flight tickets, holidays or large purchases, helping you save.

    Flexible credit- credit cards come with an interest-free period, which is a period of time during which your outstanding credit is not charged interest. Ranging between 45-60 days, you can avail free, short-term credit if you pay off the entire balance due by your credit card bill payment date. Thus, you can benefit from a credit advance without having to pay the charges associated with having an outstanding balance on your credit card.

    Record of expenses- a credit card records each purchase made through the card, with a detailed list sent with your monthly credit card statement. This can be used to determine and track your spending and purchases, which could be useful when chalking out a budget or for tax purposes. Lenders also provide instant alerts each time you swipe your card, detailing the amount of credit still available as well as the current outstanding on your card.

    Purchase protection- credit cards offer additional protection in the form of insurance for card purchases that might be lost, damaged or stolen. The credit card statement can be used to vouch for the veracity of a claim, if you wish to file one.

    Disadvantages of Credit Cards:

    Minimum due trap- the biggest con of a credit card is the minimum due amount that is displayed at the top of a bill statement. A number of credit card holders are deceived into thinking the minimum amount is the total due they are obliged to pay, when in fact it is the least amount that the company expects you to pay to continue receiving credit facilities.

    This results in customers assuming their bill is low and spending even more, accruing interest on their outstanding, which could build up to a large and unmanageable sum over time.

    Hidden costs- credit cards appear to be simple and straightforward at the outset, but have a number of hidden charges that could rack up the expenses overall. Credit cards have a number of taxes and fees, such as late payment fees, joining fees, renewal fees and processing fees. Missing a card payment could result in a penalty and repeated late payments could even result in the reduction of your credit limit, which would have a negative impact on your credit score and future credit prospects.

    Ease of overuse- with revolving credit, since your bank balance stays the same, it might be tempting to put all your purchases on your card, making you unaware of how much you owe. This could lead to you overspending and owing more than you can pay back, beginning the cycle of debt and high interest rates on your future payments.

    High interest rate- if you do not clear your dues by your billing due date, the amount is carried forward and interest is charged on it. This interest is accrued over a period of time on purchases that are made after the interest-free period. Credit card interest rates are quite high, with the average rate being 3% per month, which would amount to 36% per annum.

    Credit card fraud- though not very common, there are chances you might be victim of credit card fraud. With advances in technology, it is possible to clone a card and gain access to confidential information through which another individual or entity can make purchases on your card. Check your statements carefully for purchases that look suspicious and inform the bank immediately if you suspect card fraud. Banks usually waive off charges if the fraud is proven, so you will not have to pay for purchases charged by the thief.

    How To Use Your Credit Card Right:

    To avoid being debt-laden due to unfettered spending on your credit card, keep the below tips in mind:

    • Read the fine print so you’re aware of all the charges and conditions that govern your card.
    • Don’t spend more than you can pay back.
    • Avoid putting daily purchases on your card so that you’re aware of how much you’re spending.
    • Periodically check your credit limit and rein in spending when you’ve crossed 40% of your available credit limit.
    • Choose an EMI option for large purchases put on your card to avoid having to pay interest on outstanding card amounts.
    • Always keep at least 40% of your credit limit for emergencies.
    • Plan your purchases and use your card only for planned purchases. Avoid impulse buys on your credit card.
    • Always try to pay your credit card bills in full each month to avoid the interest charges.
    • Never miss a card payment, as this will result in higher charges and a hefty penalty.
    • Approach the bank if you’ve overspent on your card. They could help you devise a pay-back plan with a fixed rate of interest to avoid you falling deeper into debt.

    Use the above tips to avoid the pitfalls of card debt so you can enjoy a stress-free future with your credit card.

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