Credit Cards Plastic Money Never Saw It Better In India Than Now!

Credit Cards in India:

India has came out of self-binding shackles to look “young” again and the enthusiasm shared by the young work force of the country is driving the economy like never-before. In the present day world, no one wants to be bothered by the presence of huge cash in his or her wallet and the Indians are no exceptions. The unprecedented growth in the number of credit card users has stimulated the Indian economy by a significant extent. The arrival of malls, multiplexes, online shopping stores and shopping complexes have contributed to the growth of the use of plastic cards.

It will not be wrong to say that such a scenario in context of the Indian market is not driven by style statement and is driven more by needs. The benefits of plastic money have offered unmatched ways to create an equilibrium and offer an amicable solution when it comes to purchases and the inability to possess or carry cash. The modern day Indian customers find it more easy to make physical payment (credit card payments) rather than carrying too much cash. The introduction of credit card facilities to pay for mobile, electricity, movie tickets and other related transactions have also contributed to the growth of plastic money in the country.

Best credit cards (India):

Read more

Understanding The New Credit Card Rules

Credit card companies had to start complying with new regulatory rules designed to help and protect consumers as of February 22, 2010. You’ve probably received a bevy of notices and agreement changes from them leading up to this date. Since most of these are in legalese, let’s take a look at what the real changes are now that they are implemented.

The basic idea behind the new regulations is really two fold. The first is to make things much clearer for you, the debtor. The second is to protect you from predatory practices or at least those that were perceived as being outrageous.

The first big change is the payoff date. You are going to see notices on the front of your credit card that will tell you how long it will take to pay off the debt if you make the monthly payment. This can be a shocking number for many people. I can tell you that I was certain shocked to see it would take 11 years to pay off one of my cards!

Read more

Kids Using Parents Credit Cards Online

CPP, the online identity protection company have warned parents that they might be at risk of identity fraud due to their children secretly using their credit cards for online purchases, subscriptions and games.

Regulated by the Financial Services Authority, CPP carried out an extensive survey which shockingly revealed that around 23 per cent of children have secretly used their parents credit card online.

In addition, they found that a massive 77 per cent of children in the UK use the internet completely unsupervised.

Read more

Credit card debt, what it does to us, and how to deal with it.

Are you overwhelmed by the amount of debt you have? Have you been late on your credit card payments or struggled to make a payment? Does debt just keep piling up? Being in debt can be such a great burden on your life keeping you form taking care of other important expenses.

Having debt will also negatively affect your credit. This can prevent you from obtaining a loan for a home or a car, a student loan, renting, and even keep you from employment. It can also affect your interest rates. If a lender sees your credit score is low, they will give you a higher interest rate on your loan.

There are also the negative effects on your health. Often being in financial trouble will make you stressed and anxious, keeping you from sleep and affecting your physical activities.

Read more

How 0 Balance Transfer Credit Cards Work

There are a number of creditors that offer 0 balance transfer credit cards as an introductory rate for new card applicants. Some cards also have fixed low-percent APR when you transfer your balance to another card. This lets you take advantage of paying low fees for transferring your balances to pay off credit card debts.

Some VISA credit card offers provide 0% intro APR balance transfers with APR percentage of as low as 11.99%8 (V). If you use your zero balance transfer card to pay off your other card bills can lower your balance as long as you pay them off steadily during the introductory period. It is an ingenious trick to repay your remaining balances without additional interest or fees.

Most credit companies offer 0 balance transfer credit cards to attract new clients to switch services. This lets you consolidate all your card debts into one card making you pay just one bill at affordable rates without interest for as long as the promo period lasts. After the introductory promo rate of 0% expires, creditors are able to make more money by hiking the APR and late fee penalties.

Read more