Credit cards are an integral part of the financial lives of most Indians today, bringing convenience and several advantages, including reward points. Reward points are highlighted as one of the key advantages but the question that has to be taken seriously is: Are they worth it? It is important for card users to understand their … Read more
If you are planning to go abroad and rely on a credit card for your day-to-day expenses – be mindful of the fact that each credit card levies a small fee for the transactions incurred in a foreign currency. This fee is also known as a forex conversion fee. This is a fee levied by a … Read more
In the last few years, the cashback category has gained a lot of popularity among customers. Taking note of this trend, banks have launched cashback-specific credit cards. The HDFC Bank Millennia Credit Card is one such cashback card. What are the features and benefits of this card, the fees and eligibility criteria, and should you … Read more
No-cost EMI facility on credit cards is gaining traction in India, especially during the festival season. In this, customers can buy premium products and pay for the amount in easy and convenient monthly instalments without incurring any extra burden of interest. This provides an opportunity to facilitate easy and seamless buying through credit card users … Read more
Digital lending apps have changed the face of money borrowing for Indians in recent years, as instant and hassle-free loans are getting offered with minimal paperwork. Now it is a given that digital lending applications have been a credit revolutioniser, they also raised some valid questions and concerns about credit scores. Hence, let’s see how … Read more
With gold prices rising rapidly, there are investors who are contemplating investing into the precious metal with an intent to earn profits in the near future. While most investors use a debit card or UPI payments to buy gold, some also prefer to use credit cards for these payments as well. However, is it advisable to use … Read more
The National Payments Corporation of India (NPCI) has been expanding UPI’s global footprint since its first international collaboration with Singapore in 2020. Countries that now accept UPI payments include Singapore, the United Arab Emirates, Sri Lanka, Mauritius, Bhutan, Nepal and France. Arun Panicker, a 56-year-old traveler from India, recently experienced this firsthand during a trip … Read more
The increasing use of credit cards are a part and parcel of life now-a-days with the advantage of rewards, cashbacks etc., for everyday purchases. Credit cards, however, have a hidden psychological trick attached, which eventually, leads you to over-spend. You can manage your finances better if you understand the psychology of spending with a credit … Read more
Q: What do lenders see when they look at my credit report for sanctioning loans? Lenders check your credit report to assess your creditworthiness. They evaluate the risk associated with lending to you based on the credit score and your borrowing and repayment history. Lenders will look at A) Your credit utilisation, or the amount … Read more
The rule of 72 tells you how long it takes to double the money at the current interest rate. This is quite a valuable and insightful metric which tells you the time period during which you can increase your investment by 100 percent. Importantly, this also tells you the tenure during which your credit card debt … Read more