Blog - India Credit Cards

ABN cuts credit limit on cards to a tenth- News-Credit Cards-Personal Finance

sofia — Mon, 08 Mar 2010 15:48:57 +0000

ABN Amro India has chopped the credit limit of some credit card customers to a tenth and raised the minimum amount payable to 7% oftotal dues from 5%, possibly to persuade them to surrender their cards as it draws closer to selling its retail operations to UK’s Hong Kong and Shanghai Banking Corp, or HSBC. ABN [...]

Credit cards base shrinks by a fourth in less than 2 yrs

sofia — Thu, 11 Feb 2010 12:21:34 +0000

The popularity of credit cards has taken a severe beating in India over the past couple of years. The base fell by 16.4 per cent, or over 4 million, to 20.64 million in the nine months ending December 2009.In fact, in the period since April 2008, the base has shrunk by more than a fourth, [...]

PayPal: India Payments Suspended for ‘at Least a Few Months’

sofia — Wed, 10 Feb 2010 12:41:30 +0000

PayPal said a ban on personal transactions to and from India will continue for “at least a few months” while the online payment service tries to resolve a problem with local regulators. The ban, which began Saturday and caught PayPal users in the country by surprise, relates to whether personal payments constitute “remittances,” or money sent [...]

Banks to pull out 20 lakh credit cards by March 31

sofia — Fri, 05 Feb 2010 13:11:39 +0000

Around 20.35 lakh credit cards will be flushed out of the system by March-end, according to a study done by Venture Infotek, India’s leading payment solutions provider. It has shown a sharp drop to 226.64 lakh cards by March-end, from 246.99 lakh cards as on March 2009, says the report titled ‘Payment Card Industry 2009’. On [...]

4 Principles to Follow to Avoid Credit Card Debt During the Holidays

sofia — Thu, 12 Nov 2009 12:53:41 +0000

The holiday season has arrived. It is time to celebrate, make merry, and have fun. Travel plans have been made, lists of gifts for family and friends have been drawn up, and arrangements for parties are in full gear. It is indeed the season to be jolly, but also the season when spending runs wild.

Barclays Launches Platinum Credit Card in India

sofia — Fri, 07 Aug 2009 15:48:17 +0000

New customers will get a welcome gift from Armani worth Rs.17,995 which includes a wrist watch and a pair of steel cuff links.

New Online Security Feature for Credit Card transactions: Explained

sofia — Wed, 15 Jul 2009 16:34:28 +0000

As per a notification by the RBI, starting August 1, 2009 your online transaction will require an additional security measure.

Make the Most of your Credit Card Points

sofia — Sat, 09 May 2009 11:01:25 +0000

Consumer reports say that a majority of airline miles accumulated through credit card points are often unused and expire before you make that free trip.

Banks deactivating inactive Credit Card customers

sofia — Mon, 20 Apr 2009 16:15:08 +0000

When was the last time you used that credit card? If the answer is I don’t know then you could soon receive a deactivation notice from the bank informing you that your card has been blocked.

Banks chasing away credit card customers?

sofia — Mon, 16 Mar 2009 13:22:56 +0000

According to RBI data over 22 lakh credit cards have gone out of circulation since April 2008 either due to non renewals or cancellations.