India Credit Card Help Guide

The Credit Card is a Financial Tool best suited for your needs if you use it carefully and also handle intelligently.

• Credit Card should be used only in case of emergency if you have exhausted all other means. [However, financially sound folks can also use and pay off in full every month]
• What is a Balance Transfer of Credit Card ? This allows a consumer

  Read moreCredit Card as a Finaancial Tool

Here is a list of things you have to do as soon as you get your credit card,

1. Remember your credit card is an unsecurd loan offerd by the bank to be used at your convenience with a grace period for repayment [usually upto 30 days only]
2. Most banks

   Read moreThings to do after you get a Credit Card

Disha Financial Counselling was setup by ICICI Bank with pressure from the Reserve Bank of India to help and educate loan borrowers. RBI has done an excellent job persuading ICICI since the latter has a huge portfolio of retail loans most of which is sold to consumers without properly educating them about the terms and consequences on default.

We have seen so many people borrowing on their credit cards, personal loans etc for events like the wedding or some other extravaganza, just to maintain their status. Once they

Read moreDisha Financial Counselling – Review and Approach or Not To

Here are some important tips which ones MUST carefully read and also follow for their own safety.

• You must always sign at the back of your credit card as soon as it arrives
• Memorize or note down your 3 digit CVV number and blacken it on the card
• Always ensure that your credit card is swiped in your presence. 5 Star

  Read moreTips for Safe Usage

Credit History is a an alien term to 99% of the Indians. So lets explore the necessity of Credit History in India.

Prior to 2003, many businessmen[small / petty traders / contractors etc] including large business houses such as Essar, Jindals etc would borrow heavily from one bank and due to their mismanagement would default on loan payment @ that bank and go and avail a second loan at another bank

Read moreCIBIL and Credit Score in India

Many of you still don’t quite understand how Finance Charge is calculated on balance amount by credit card companies. I found that HDFC Credit Card is one of the better ones who explain it very clearly.

Here is a step by step guide on how Finance Charges are calculated.

• Assume you have Zero balance on your card to begin with.
• You now make a Biz Bazaar household purchases worth Rs 15,000 on April-10th. Then on 18th April you buy a Mobile Phone worth Rs 5,000. Lets say your billing cycle ends on the 18th of every month. So your April-18th credit card statement

  Read moreCalculation of Finance Charge by HDFC Credit Cards