Credit cards are credit instruments. They help users in securing credit on the promise of making payments within the stipulated time as per the contractual commitments between the credit card user and the lending institution. Now, cancelling a credit card comes with its own complexities, issues and problems. It can definitely impact your credit score, … Read more
Many people link an individual’s overall credit behaviour to their credit score. However, the credit score only summarises it with a three-digit number. There is much more beyond the credit score that can be found in an individual’s credit report. It provides comprehensive details of an individual’s credit behaviour. These details help financial institutions underwrite … Read more
Travel credit cards, along with special reward points and deals, provide insurance coverage for travel related emergencies. These cards are accompanied with a variety of benefits like compensation for trip cancellations, flight delays, medical emergencies etc. The coverage amount and benefits will however depend on your card variant as well as the bank’s policy. If … Read more
Credit card users often face serious questions and financial penalties due to missed payment deadlines. That is why it is important for all credit card users to be careful about due dates, pending payments so that they are in the best position to avoid late fees, penalties and associated interest charges. Now to combat the … Read more
Due to the benefits, convenience, and security it provides, it is hard to picture life without a credit card in today’s world. Differentiating between annual fee or non-annual fee credit cards is a crucial step in the process of picking a credit card. Knowing the details of each option allows you to ensure your decision … Read more
Indians are tapping their phones in a big way to spend money. The value of transactions done using mobile phones soared nearly 30% year-on-year (y-o-y) to about ₹198 crore ( ₹1.98 trillion) in the second half (2H) of 2024. To put it in perspective, this amount is 14.5 times the money spent by customers using … Read more
Credit cards can be a smart way to make transactions while saving money. However, this can also make you form a habit of overspending through which you may end up with a big fat bill which may become difficult for you to repay on time. If you are an IndusInd Bank credit card customer, you … Read more
If you have recently started using a credit card, you must be aware that it has a fixed credit limit and you are not supposed to spend beyond this. Although the limit is typically generous, it is recommended not to exhaust all of it for the sake of a healthy credit score. Those users who … Read more
Credit cards are financial instruments that offer flexibility, convenience and seamless digital payments. However, relying too heavily on paying only the minimum amount due can lead to a dangerous cycle of debt. While making only the minimum payment might seem like a short-term solution to avoid late payment penalties, it carries serious risks for credit … Read more
Closing a credit card might seem like a simple and straightforward financial decision, especially if you are trying to cut down on unnecessary spending or avoid hefty fines and late payment fees. However, in India, this move can immensely impact your credit score and your overall credit profile in a negative way. That is why … Read more