Smart Shoppers can explore American Express & Payback Credit Card

American Express PAYBACK Credit Card FeaturesWorld’s 3rd Largest Credit Card issuer, American Express has joined hands with Payback Network and launched American Express Payback Credit Card for the Smart and Savvy Shoppers with multiple benefits. Yes this is a Credit Card and not a Charge Card like AMEX Platinum or AMEX Gold Card [Charge Cards are the ones where you have to Payback the Bill in full at the end of every Billing Cycle]

The Payback card is designed for consumers who shop and organize their

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Private Banks Ride Retail Credit Lending Boom backed by CIBIL,Experian & Equifax

CIBIL Credit Bureau Conference IndiaIndian private sector banks are focused on retail lending, largely on account of process-driven lower turnaround time for lending decisions in the retail segment. Bureaus such as CIBIL, Experian and Equifax have played a key role in meaningfully reducing the probability of adverse selection by lenders, facilitating more sensible targeting and deeper mining of existing customer relationships. However, in the current cycle, the thrust is equally split between secured and unsecured (50:50) in contrast to 2007 where the mix was skewed towards unsecured (nearly 70%-80% of the proposals during 2007 were unsecured in nature).

Indian Credit Bureaus, CIBIL, Experian and Equifax also believes that banks are more comfortable in disbursing top-up loans on an existing loan product resulting in rising leverage,

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HDFC Credit Cards Roll-Out “One Time Password” for Online Transactions

HDFC Cards OTP-1India’s Largest Credit Card issuer, HDFC Credit Cards today informed us that they have rolled out One Time Password [OTP] authentication for Online Transactions. Consumers now have a choice to use either MasterCard SecureCode / Verified by Visa OR One Time Password which will be sent to the customers registered e-mail id as well as mobile phone.

As soon as we received the call, we decided to test it out by paying Reliance Communications bill online. As shown in the image above, you are provided a choice.

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