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Credit Cards Information

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A credit card is a financial instrument issued by banks with a pre-set credit limit, helping you make cashless transactions. ... Once you get the credit card bill, you can repay the amount you have spent within a certain repayment period without any interest. After this grace period, interest is applied on your balance.

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Credit Card FAQs - Get Answers To All Your Questions
09-03-2022
Credit Card FAQs - Get Answers To All Your Questions
If you’re considering applying for a credit card, it’s important to ensure you know how they work. In this guide, we answer some of the most commonly asked questions….  Q1: How do I choose a credit card? There are many different types of credit cards available so it can be hard to know where to start when deciding which one is right for you. One of the easiest ways to look at it is to consider exactly what you need a credit card for. Click here on this link to know more:- much can I borrow? The amount you can borrow with a credit card will depend on your credit limit, but this is often a few hundred or a few thousand pounds. Your card provider will decide this based on factors such as your credit score (more on this later), how much available income you have after meeting your regular financial commitments, and whether you have other types of credit, such as a mortgage, loan, or overdraft. For more information about credit cards question click on this link. Q How long does it take to get a credit card? Many credit card providers now offer instant approval for credit cards when you apply online. Others take around five to 10 days to make their decision. Once you’ve been approved for a credit card, it should arrive within 10 working days. You will usually need to activate the card once you have received it by calling an automated number. As soon as you have done that and received your PIN, you can start using your new credit card. Q I change my mind after I’ve applied? Yes. Once you receive your card you have 14 days (known as the cooling-off period) to inform the provider that you’ve changed your mind and want to cancel the agreement. If you have already used the card, you’ll need to repay the outstanding balance within 30 days. Q Can I pay off my credit card debt early? Yes. Unlike with personal loans, there are no penalties if you want to clear your balance early. Note that if you have a 0% introductory offer with your credit card, it’s important to pay off the balance in full before the 0% deal ends and interest is charged. Q Can I get a joint credit card? In a word, no – but you can add additional cardholders who will then have their own card. You’ll share the single credit limit on the account, but the primary cardholder will be responsible for clearing the debt. Q Can I use my credit card abroad? Yes, you can, but it may be expensive as many credit cards charge a foreign transaction fee of around 3% every time you spend. You’ll also be charged for cash withdrawals on top, with interest charged from the moment you get your money.
Credit Card FAQs - Get Answers To All Your Questions
09-03-2022
Credit Card FAQs - Get Answers To All Your Questions
If you’re considering applying for a credit card, it’s important to ensure you know how they work. In this guide, we answer some of the most commonly asked questions….  Q1: How do I choose a credit card? There are many different types of credit cards available so it can be hard to know where to start when deciding which one is right for you. One of the easiest ways to look at it is to consider exactly what you need a credit card for. Click here on this link to know more:- much can I borrow? The amount you can borrow with a credit card will depend on your credit limit, but this is often a few hundred or a few thousand pounds. Your card provider will decide this based on factors such as your credit score (more on this later), how much available income you have after meeting your regular financial commitments, and whether you have other types of credit, such as a mortgage, loan, or overdraft. For more information about credit cards question click on this link. Q How long does it take to get a credit card? Many credit card providers now offer instant approval for credit cards when you apply online. Others take around five to 10 days to make their decision. Once you’ve been approved for a credit card, it should arrive within 10 working days. You will usually need to activate the card once you have received it by calling an automated number. As soon as you have done that and received your PIN, you can start using your new credit card. Q I change my mind after I’ve applied? Yes. Once you receive your card you have 14 days (known as the cooling-off period) to inform the provider that you’ve changed your mind and want to cancel the agreement. If you have already used the card, you’ll need to repay the outstanding balance within 30 days. Q Can I pay off my credit card debt early? Yes. Unlike with personal loans, there are no penalties if you want to clear your balance early. Note that if you have a 0% introductory offer with your credit card, it’s important to pay off the balance in full before the 0% deal ends and interest is charged. Q Can I get a joint credit card? In a word, no – but you can add additional cardholders who will then have their own card. You’ll share the single credit limit on the account, but the primary cardholder will be responsible for clearing the debt. Q Can I use my credit card abroad? Yes, you can, but it may be expensive as many credit cards charge a foreign transaction fee of around 3% every time you spend. You’ll also be charged for cash withdrawals on top, with interest charged from the moment you get your money.
Tips For Paying Off Credit Card Debt
08-03-2022
Tips For Paying Off Credit Card Debt
Ready to learn the best ways to pay off your credit card debt? It’s easy to feel stuck when you’re struggling to make minimum payments and frustrated with how far your financial goals seem to be. However, no matter how bad you think your situation is, there’s a way out that will work for you. Here are 10 practical ways you can quickly tackle your maxed-out cards and take your first real steps towards getting out of debt. Click here on this link to know more:- Set a Goal Start by Setting a Goal You Can Achieve It’s important to set realistic goals for yourself, especially when they’re about paying off high-interest credit cards or other types of consumer debt (overdrafts, lines of credit, vehicle loans, etc.). 2. Put Your Credit Cards on Ice Yes, We Mean That Literally This might be hard to hear, but getting out of debt means taking your credit cards out of your wallet so you’re not tempted to use them. 3. Prioritize Your Debts Credit Cards, Loans, Mortgages, etc. Make a complete list of all your debts (outstanding balances, interest rates, and charges) and list them in order of importance. Mortgage and vehicle payments are at the top of most lists because they provide your shelter and transportation for getting to and from your job. 4. Trim Your Expenses Free Up Some Cash to Pay Debt Faster Speed up your debt repayment and get out of debt fast by reviewing your monthly expenses and looking for ways to cut your costs. Click here to know about Tips For Paying Off Credit Card Debt.
Why People Choose Credit Cards?
07-03-2022
Why People Choose Credit Cards?
Advantage & Disadvantage of Credit Card A credit card has become an indispensable part of our lives, with its ease of use and convenient pay-back options. The discount offers and deals that a credit card offers are unmatched by any other financial product and spell a bonanza for the wise user. However, credit cards can become debt traps if not used correctly, or if you spend more than you can repay when the bill comes around.  Click on this link to know more:- you’re new to the world of credit, here’s a list of the advantages and disadvantages associated with your little plastic card.  Benefits of Credit Cards: 1. Easy access to credit: The biggest advantage of a credit card is its easy access to credit. Credit cards function on a deferred payment basis, which means you get to use your card now and pay for your purchases later. The money used does not go out of your account, thus not denting your bank balance every time you swipe. 2. Building a line of credit Credit cards offer you the chance to build up a line of credit. This is very important as it allows banks to view an active credit history, based on your card repayments and card usage. Banks and financial institutions often look to credit card usage as a way to gauge a potential loan applicant’s creditworthiness, making your credit card important for future loans or rental applications. 3. EMI facility If you plan on making a large purchase and don’t want to sink your savings into it, you can choose to put it on your credit card as a way to defer payment. In addition to this, you can also choose to pay off your purchase in equated monthly installments, ensuring you aren’t paying a lump sum for it and denting your bank balance. Paying through EMI is cheaper than taking out a personal loan to pay for a purchase, such as a television or an expensive refrigerator.
Guide to Credit Card Processing
04-03-2022
Guide to Credit Card Processing
Credit card processing is a complicated thing. And it’s just one of the dozens of complicated things that small business owners have to figure out. This means it’s too often put on the back burner or ignored entirely. While we can’t really blame you for not prioritizing processing, there are some things that business owners should be paying attention to. Remember, processing costs are inevitable, but rates vary and it’s possible to reduce the total amount that you’re paying in processing costs each year. In this post, we’ll go over some of the basics of credit card processing and look at ways that businesses can save some money and help out their bottom lines. Click on this link to know more about credit cards:- Is Credit Card Processing? Credit card processing is also commonly referred to as merchant services. This provides businesses with the ability to accept credit and debit card payments. Such payments might be swiped on a traditional credit card machine, dipped into an EMV portal, keyed into a physical machine or eCommerce payment portal, or tapped on a contactless credit card reader. Credit card processors facilitate communication between all parties involved in this process. They also ensure adequate security for the transaction. Businesses must pay a fee for this service. Processing fees are assessed with each transaction and deducted from the payments received by the merchant. What Parties Are Involved in Credit Card Processing? Customer: Without the customer, no purchase is made. Merchant: With the merchant, the customer has nowhere to make a purchase. Processor: The credit card processor is responsible for setting the merchant up with PCI compliance and making sure that all communication of every transaction is seamless. Card networks: Also known as card associations, these organizations are responsible for setting and assessing the interchange rates. The card networks are familiar names: VISA, American Express, etc. POS system: The POS system provides the merchant with credit card terminals and point of payment hardware to allow businesses to make a physical transaction. Issuing bank: The customer’s bank determines if any transaction is legitimate or not. Acquiring bank: The merchant’s bank accepts the final payments after everything has been batched.
5 Reasons Why Consumers Like The Amazon Pay ICICI Credit Card
24-02-2022
5 Reasons Why Consumers Like The Amazon Pay ICICI Credit Card
5 Reasons Why Consumers Like The Amazon Pay ICICI Credit Card Issued by ICICI Bank in association with Amazon Pay India Pvt Ltd. and Visa, Amazon Pay ICICI Bank Credit card is a lifetime free credit card. Yes, it means there are no joining fees or renewal fees! It provides earnings for every purchase, both on and off the Amazon website.  You would be getting rewards in the form of Amazon Pay balance under the Gift and Credits section on the Amazon website.  Earn 5% cash back on purchases made through the Amazon website (for Amazon Prime cardholders). Earn 2% back on 100+ Amazon Pay partner merchants.Non-prime cardholders earn 3% back on purchases made through the Amazon website. No joining fees or annual fees.No limits on earnings.No expiry date to your rewards and cashback. Click on this link:-   What is special about Amazon Pay ICICI Bank credit card? Amazon Pay ICICI Bank Credit Card is issued by ICICI Bank in association with Amazon and Visa. This is a lifetime free credit card with no joining and renewal fees. This is a major benefit in itself. Not only this, purchases made by Amazon Pay ICICI Bank Credit Card lets you earn back—both on and off Amazon. in—in the form of Amazon Pay Balance, which can be redeemed across 16 crores + products on the Amazon website and across 100+ Amazon Pay partner merchants.  Amazon Pay ICICI Credit Cards. Amazon Pay ICICI Bank Credit Card Highlights Earn 5% back in the form of Amazon Pay balance on Amazon. in for Amazon Prime customers Earn 3% back in the form of Amazon Pay balance on Amazon. in for non-prime customers Earn 2% back in the form of Amazon Pay balance on 100+ Amazon Pay partner merchants by using this card on Amazon Pay  Earn 1% back in the form of Amazon Pay balance on other payments
What is Medium Duration Mutual Funds?
23-02-2022
What is Medium Duration Mutual Funds?
Medium duration Funds are the conservative type of investment instruments, this type of mutual fund is the debt funds investment option offering the duration of three to four years. When compared with other debt funds, liquid funds, overnight funds, etc., these funds offer higher returns ranging from 7 to 9%. These funds invest in money markets and debt securities for a duration of 3 or 4 years to offer fruitful returns and the end of the tenure. Click on this link to know more:- it comes to investment options, there are many ways to invest your money. Based on financial status, risk-bearing capacity, holding period, etc. an investor will choose the investment instruments. Medium Duration Mutual funds when compared with the holding period works as the same as Fixed deposit schemes but offer higher returns than FD. What are the factors to be considered to invest in Medium Duration Funds? Risks: These funds come with 3 types of risks credit risk, interest rate risk, liquidity risk. So before investing into these debt funds, consult the fund manager and consider the objectives that you can handle then go for it. Expense ratio: It is the fee that is charged by the investment companies, whenever you go for investing your money look for a low expense ratio, lower the expense ratio higher will be your gains. Taxation: If the holding period is less than 36 months, then the short-term capital gain tax is applied. If more than 36 months long term capital tax gain applied say 20%. The dividends received are tax-free (Terms apply). What are the advantages of Medium duration Funds? Comparatively less volatile than equity fundsStable investment optionLower risksMore chances to gain stable returns.Offers liquidity (Terms Apply)  Click here to know more about credit cards.
What is Floater Fund?
22-02-2022
What is Floater Fund?
Floater Funds offers different types of returns based on market performances and benchmark indices. These funds comprise debt securities, and they consist of the liability of issuing entities and they invest in corporate bonds, treasury bills, Certificate Deposits, and other debt tools. These funds return completely depending on the market rates if the interest rate rises the floater fund returns also increase and in counter any downfall in the interest rates then it will affect the returns like there will be the risk of lower returns.  Click on this link to know more:-   are the Features of Floater Funds? Portfolio: The debt floater mutual funds investment portfolio invests in both private and government companies about 65% of the corpus. Risks: When we talk about risks these funds have limited risks, though it is linked to the market performances as they invest their corpus in debt securities that mitigate the risks substantially. Tenure: Short term plan is for 1 year and these types of funds are invested in government securities, for example, treasury bills, certificates of deposits. Long-term tenure plans are for more than 1 year and these are invested in corporate bonds, government bonds, etc. Taxation: Two types of tax are applicable if the holding period is less than 3 years then it is the short-term capital gain tax and if the holding period is more than 3 years then the long-term capital gain tax is applicable.  What are the advantages of Floater Debt Funds? They offer higher returns. Lower risksOpen-ended schemeComfortable Holding period  Click here to get more info. about the credit cards.
Arbitrage Mutual Funds
15-02-2022
Arbitrage Mutual Funds
Arbitrage Mutual Funds are a hybrid fund that is equity-oriented, it is the scheme that offers grip over the markets. These schemes have pricing variations, the fund manager purchases the stocks at this variational pricing over two exchanges and earns profits over the selling price and buying price, respectively. Unlike the other funds where the fund manager sells the funds when the market is offering better pricing, in this scheme, the fund manager sells the funds only when there is scope e of earning definite returns.  And when it comes to inquiring about risks, the risk factor is like that of the debt funds. But the arbitrage fund is the best way of investment who wishes to invest in an equity fund or equity-related instruments but do not want any risks, for that kind of people these hybrid funds are a better opportunity to park their money to earn higher returns than the other debt funds. Click here to get information about credit cards List of India's Top Arbitrage Funds: Mahindra Dhan Sanchay Yojana provides approximately 8.15% of returns.Nippon India Arbitrage Fund offers 6.29% for 3 years.Edelweiss Arbitrage Fund offers 6.22% returns for 3 years.BNP Paribas Arbitrage Fund offers 6.22% returns for 3 years.L&T Arbitrage Opportunities Fund gives about 6.08% returns for 3 years tenure. Factors effecting the Arbitrage Mutual Funds: Risks: In these schemes there is no guarantee of returns, though there is no equity exposure risk, the returns are low but if an investor holds for a period of 5 to 8 years then an investor could expect 8% returns.  Click on this link to get more info:-
RBI Monetary Policy
11-02-2022
RBI Monetary Policy
Monetary Policy is the policy provided by the RBI and during the monetary policy committee meeting, RBI exposed that they left the repo rate unchanged at 4% since August 2020 and the committee maintains the accommodative stance. Apart from that the also the reverse repo rate remains unchanged at 3.35%.  Click here to know about credit cards. RBI Monetary Policy Highlights: Repo Rate - It is the rate where the bank borrows money from RBI.Reverse Repo Rate- It is the rate where RBI borrows money from banks.Marginal Standing Facility- It is the rate bank borrows funds from RBI, during the inter-bank liquidity interest rates, are volatile.Bank Rate - It is the rate where RBI lends money without any security to commercial banks.MPC Inflation - Rise in the vegetable price, fuel process, when it comes to the inflation RBI expects for January to March at 5.2%, from 2021 April to September 5.2 -5%, and for the remaining quarter of the next financial year 4.3%.Growth- As per MPC the sales, services, infrastructure, and other units are reviving also the COVID vaccination drive has also shown positive growth. Be it transportation, importing. exporting and other according to the economic survey the growth is in line.Online access to the Retail investors - RBI offers online access to the government security markets directly from the Reserve bank that is Retail Direct.24x7 Help Line - RBI has created a 24/7 helpline for the customers to inquire about their queries, etc.  Click on this link for more info:-