Best Credit Cards in India 2019

News About Credit Cards

• RuPay credit cards to be launched by SBI Cards

  Rupay credit cards will soon be launched by SBI Cards. It is a pioneer in the domestic credit card and debit card payment network. It is developed by the National Payment Corporation of India (NPCI) which operates settlement systems and retail payments. RuPay cards are currently accepted internationally in select countries such as the UAE, Bhutan, and Singapore.

  In order to expand its acceptance internationally, RuPay is also tying up with the Japan Credit Bureau, Discover, and China Union Pay. A chatbot called ‘ILA’ which stands for Interactive Live Assistance. It was launched on the SBI Card mobile platform to enhance customer experience. It has more than 40 features which provides a host of self-service functionalities to customers. So far, 14 million queries have been resolved with 97%+ accuracy. SBI Card had a market share of 17.9% by the end of July with 90 lakh customers with an addition of 3 lakh cards every month since December 2018.

  

  4 September 2019

• Jharkhand Witnesses A Rise In Digital Transactions

  The eastern state of Jharkhand is witnessing an impressive growth in the number of digital transactions that has increased by over 4 lakh in the past one year. As per a report of the State Level Bankers Committee (SLBC), by the end of December 2018, the number of net banking users went up to 24.37 lakh as compared to the 20.34 lakh at end of December 2017. 

  In terms of the number of net banking users, government banks are comfortably ahead of the private players in the state. One of the largest banks, the State Bank of India (SBI) boasts of as many as 14,96,934 net banking users and is followed by the Bank of India which has 2,89,461 users. 

  In terms of credit card, debit card, and ATM users, the number has grown from 1.54 crore to 2.12 crore from December 2017 to December 2018. It’s particularly impressive that the number of credit cards has gone up from 3.54 lakh to 4.12 lakh during the period. 

  The growth is a result of the intense promotion of digital payments by the Central government of the country and the banks. 

  

  11 March 2019

• Rise In Credit And Debit Card Usage In Fun Categories

  2018 has seen a sharp growth in digital transactions in the country as people are using different modes of digital payments like credit cards, debit cards, and mobile wallets for their daily expenditures. Among these, the use of debit and credit cards has been in the highest in the entertainment category.

  In the entertainment category, movie theatres have witnessed the highest growth in transactions using these cards. The next in the line are liquor shops. However, there has been a drop in the use of cards in categories like apparel and accessory stores. Compared to the card transaction figures for the last year, there has been a growth of 76.66% in terms of volumes at movie theatres.

  In terms of value, the growth is 75.56%. The use of credit cards has witnessed the highest growth in the category of tours and travels. In terms of volume, this has been a growth of 124% and in terms of value, it’s 245%. But since these are high value payments, the tours and travels category did not witness a high growth in debit card transactions.

  

  24 December 2018

• A Few Advantages Of Having A Store Credit Card

  A store credit card, unlike a regular credit card, can be used only at a specific store or a set of retail chains. A store credit card, like a conventional credit card, carries a wide range of perks and benefits but you can only avail them when you use the card at their designated stores.

  Here are a few advantages of using a store credit card

  Discounts: A store credit card usually offers a large number of discounts on a regular basis. On certain occasions, the discounts may be as high as 50% of the selling price. From the card issuer’s perspective, this is a way to attract as many users as possible.

  Reward points: Most store credit cards provide you reward points whenever you use them to make any purchase. Again the accrued points can be redeemed against a long list of options at the designated stores.

  Sign-up benefits: Wherever you opt for a store credit card, you get a discount on all your purchases using the card. So if you are going for a high-value purchase using your newly acquired store credit card, you have the chance to save a lot of money on your purchase.

  

  19 November 2018

• 3 Helpful Points To Remember While Getting A Business Credit Card

  Business credit cards have some obvious benefits over the regular personal credit cards. If you are looking for a credit card for your business purposes, there are a few important points that you must consider before making a choice.

  Fees and charges: Usually, credit cards come with a relatively high rate of interest. So while searching for your business credit card, ensure that you explore multiple options to get the best rate. Another factor to consider is the interest-free credit period – the longer it is, the better. Also, understand the additional fees and charges like annual fee and renewal fee that accompany the card.

  Card limit: A low credit limit would create inconveniences for you to carry out your business transactions but you should also use discretion while considering a very high limit. This is because at the end of the day, it’s you who will have to repay the loan that you get through your credit card.

  Other benefits: Generally, the offers and benefits that accompany business credit cards are way more in number and greater in value than those offered by personal credit cards. Some of the best offers in credit cards are air miles, free access to airport lounges, dining and entertainment benefits, and benefits on fuel transactions.

  

  15 November 2018

• Credit card offers on Google Pixel 3 and Pixel 3 XL

  Google has announced some good news for the existing Nexus and Pixel users in India. The news is that these customers will be getting a Google Home Mini for free if they upgrade to the latest Pixels. The Home Mini can be picked up from the sale point itself and in the event of its unavailability with the retailer, customers will be intimated as soon as it’s back in stock. This offer can be availed at select offline stores from 1st November to 7th November.

  In addition to the Home Mini, customers can also opt for cashback of up to 5% through cards of select banks and no cost EMIs. The cashback can be availed by customers using Citibank credit card, HDFC Bank debit or credit card, BFL super cards, and RBL credit card. This offer can be availed by all buyers and not only Pixel or Nexus users.

  The flagship duo is being offered in 3 colours - Clearly White, Not Pink, Just Black. The price for the Pixel 3 is Rs.71,000 for the 64GB variant and Rs.80,000 for the 128GB variant and that of the Pixel 3XL is Rs.83,000 for the 64GB variant and Rs.92,000 for the 128 GB variant.

  

  2 November 2018

• All About Pre-approved Credit Cards

  If you have been offered a pre-approved credit card, it usually means that the card issuer is convinced that you are eligible for the credit card as you meet the necessary criteria. This is determined by doing a soft credit check and it does no harm to your credit.

  You chances of getting approved go up as you continue to meet the standards and the income as required by the card issuer. One of the major benefits of getting offers of pre-approved credit cards is that you may receive a very tempting introductory annual percentage rates (APR). If you receive several offers, you get the chance to learn different credit products and then choose the one that is offering the best deal.

  If you are looking for a pre-approved credit card but have not received any offer in the mail, it doesn’t always mean that you are not eligible for one. It’s just that some card issuers make it easy for individuals to check their eligibility by just entering their basic information.

  

  24 October 2018

• NFC-Enabled Debit And Credit Cards Set To Make Commute Easy

  In the next step towards powering digital transactions, the Ministry of Finance has requested the incorporation of Near Field Communication (NFC) chips into credit and debit cards. The Ministry believes that since a majority of the point-of-sale (PoS) terminals are compatible with NFC chips, an innovation of this nature could promote card security and convenience. These cards could soon be integrated with mass transit commute viz. metros, buses and local trains. The consumers would be able to make payments for the ticket by merely tapping their card while using public transport. In an attempt to curb complications, the NFC chips could be integrated only while reissuing debit and credit cards. RBI data shows that the debit card use at PoS terminals has escalated by 24% in April i.e. 333 million from 264 million transactions. This innovation could be a boost to the already growing rate of digital transactions.

  

  25 July 2018

• How To Be Safe From Credit Card Fraud

  • Do not share your credit card information with anyone on phone calls, messages, or emails. Even if you feel the other person communicating to you is reliable.

  • When you share your credit card information over the phone with your loved ones, make sure no one overhears you.

  • Do not write your credit card information down anywhere.

  • Do not write your credit card PIN at the back of your card. If you lose your card, the person who find it will be easily able to use it using the PIN.

  • If you notice anything suspicious on your credit card, report it immediately to the credit card provider and make sure you block the card.

  • If you use your card to make your retail payments and other bills, follow the news from time to time. If the database of your retailer or any other biller is hacked, please get in touch with the bank and inform them about the same and block the biller from auto-debiting your credit card.

  Please educate yourself about credit card fraud and make sure you take precautions before swiping your card.

  

  17 July 2018

• Good Growth is Reported in Credit Card Loan and loans to SMEs and Individuals

  According to research conducted by Credit Rating Information Services of India Limited (CRISIL), a global analytical company, unsecured loans to individuals, small and medium-sized enterprises (SMEs) and credit card loans has performed considerably well and have outpaced the growth in the total bank credit in the last 3 fiscal years. The unsecured loans clocked a compounded annual growth rate of 27% which is four times the growth in bank credit.

  Financiers are focused to concentrate on these segments going forward as the yields or return on assets are 2.5-3.0% for personal and SME loans, and 3-4% for credit cards. Whereas, the yields are less than 2% for home loans and new passenger vehicle loans.

  

  12 July 2018