How much is the joining fee and the annual fee? Generally, a credit card with a higher annual fee enjoys more benefits like higher credit limit, higher accident insurance cover, accessibility to airport lounges, travel discounts etc. OF at least the used to be the case. With cutthroat competition between the card issuing banks, players are ready to waive joining fees and also one-year membership fees for anyone. Grab these offers, or negotiate this for yourself. How much is the Add-on card fee? If you are interested in buying add-on cards for your children, spouse or friend, ask for the add-on card fee. Remember that you will be settling the bills on the add-on card that you so touchingly gift to someone dear to you – the statement will come to you, and the responsibility for payment is yours (as far as the credit card company is concerned) What is Continue reading
Personal Finance
How to Save Money with Credit Cards
Credit cards have been vilified by many as being the surest way of getting into irreversible debt. However, this notion and belief is not always true. It is possible to actually save money with credit cards. This is nevertheless only possible if you know how to go about saving money with credit cards. Here are a few time-tested ways in which you can still use your credit card and manage to put some cash into your pocket as well. Rewards are a popular offer given by most credit card providers. They offer the card user certain rewards for using the card to purchase or make payments. These rewards come in the form of cash rebates, travel service discounts and so on. Making sure you use only reward cards means you will be getting at least some value back for the money spent. However, this is just one aspect to reward Continue reading
An Overview of Credit Card
Credit is a method of selling goods or services without the buyer having cash in hand. A credit card is only an automatic way of offering credit to a consumer. A credit card is basically a plastic card with a magnetic strip invented with the intention to simplify the complicated banking process for an individual in case he/she is short of cash, be it something casual like shopping or something severe like an emergency situation. The dictionary defines a credit card as ‘A card which can be used to obtain cash, goods or services up to a stipulated credit limit. The supplier is later paid by the credit card company which in due course is reimbursed by the credit card holder who will be charged interest at the end of the credit period if money is still owing.’ The word credit comes from Latin, meaning “trust. This means that using Continue reading
Customer Relationship Management (CRM) in Indian Banking Sector
In recent years, a rapid revolution is transforming the banking industry around the world. In early 1990s, banks and other financial intermediaries have been affected by greater risk and sharp competition due the wave of deregulation in India. Due to cross-border flows and entry of new players and products, banks are forced to adjust the product-mix and modify their processes and operations to remain competitive. Also, better tracking and fulfillment of commitments, multiple delivery channels for customers and faster resolution of incoordination is possible due to extensive use of technology. Today banks are market driven and market responsive and every bank’s CEO is more concerned about how to increase or at least maintain the market share in every line of business against the backdrop of sharp competition. Additionally, the entries of multiple channels and new players have made customers (both corporate and retail) more perceptive and less loyal to banks. Continue reading
Some Facts Regarding Credit Cards
Know the Credit Card Well Before Applying for One Owning credit cards are quite handy. You need not bring cash but still able to buy anything you want since almost all establishments, including those selling online, accept all types of credit cards. In fact, even if you do not have money yet, you can already make any purchase that may be heavily needed. It therefore provides safety and an answer to emergency needs. However, people who are making use of credit cards should have discipline and be responsible enough not to spend beyond their means or end up being burdened with tons of debt. Those who are uncontrollable can even end up facing bankruptcy. Always keep in mind that credit card interests can be costly once compounded. If you have several credit cards and you have no control with your spending, chances are you will not be able to pay Continue reading
Advantages and Disadvantages of Credit Cards to Students
In this modern era with the rising of e-commerce in the world, the usage of credit cards is getting popular among the world nowadays. The usage of credit cards has actually spread towards college students and has increased visibility. Meanwhile, this is the best chance for the credit card companies to put on target at college students because college students are expected to have higher earning power and this makes the credit card companies believe that as a desirable market. A credit card can be best defined as a small plastic card issued by the bank to the consumers to purchase goods and services in advance with a credit limit on the spending. With a credit card, the users are able to purchase goods without using cash. Users will have the ability to use it as online payment on the internet and use it as monthly installments for large-volume goods Continue reading