Written by Oliver Laker on May 19, 2011.
The largest lender of the country, State Bank of India has seen an improvement in performance of its credit card segment in the fiscal last ended.
After long years of losses, the credit card segment of the bank has finally borne profits and that too at a time when results have been coming negative from all segments of the bank.
The credit card business booked profits worth Rs 7.10 crore in the last fiscal as against losses of Rs 153 crore in the fiscal prior to that.
Customer card spends has increased by 30% to Rs 6452 crore, the bank said.
SBI cards currently has 2.3 million cards.
Written by Tim Peak on May 10, 2011.
If you pay for a meal with a credit card, you may also write the tip in rather than leaving a cash tip. In some restaurants, servers may not get the full gratuity you wanted them to receive. Credit card issuers charge merchants a processing fee on all credit card transactions. Merchants may pass the tip portion of the transaction along to the server.
Steak ‘N Shake recently asked their servers to agree to pay the 2.5% processing fee on credit card tips. So, instead of a $5.00 tips, the server would only get $4.86. The other $.13 would go to the credit card issuer. It doesn’t sound like much, but it adds up. Besides, should servers really have to pay a fee to get the tips they’ve already earned?
Not all restaurants ask employees to pay the credit card processing fee.
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Written by Blake Teen on May 8, 2011.
An instant approval credit card offers approval in just a matter of minutes. There is no need to visit your local bank just to fill out and submit your credit card application. Instead, application is done online so it is very easy and convenient.
If you search the market, you will find several credit cards instant approval offers. How can you pick out the best one? Consider the following tips:
Check the issuer’s credit requirement. An instant approval credit card offer is not necessarily a guarantee that your application will get approved regardless of your credit rating. Some credit card companies do have strict credit requirement so if you have a low credit score or a history of bad credit, your application may be declined. Before signing up, be sure to check the credit card company’s criteria to avoid unnecessary rejection.
Check the rate of interest. Watch out for instant approval credit cards with extremely high interest rates. You
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Written by Oliver Laker on April 20, 2011.
Foreign lender, Barclays Bank is going to take a close review of its credit card business. Sources familiar to the matter have indicated that the bank may even consider selling its business in this segment in India.
“The credit card business is one, which has to be reviewed very closely because it is a business where scale counts a lot,” sources said.
However, no such bid has been invited by the bank so far in this regard, informed sources.
“We do not comment on market speculations,” said Karan Bhagat, managing director and country head, Barclays Corporate denying to comment on the issue.
Recently, another foreign lender, Deutsche Bank sold off its credit card business to IndusInd Bank. “Several private banks were interested in buying Deutsche Bank’s credit card business. Some of them may be interested in Barclays as well.
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Written by Tim Peak on April 14, 2011.
Have you ever wondered what happens behind the scenes when you swipe your credit card? This picture slideshow will give you a look at how credit card transactions are approved, paid, and billed.
How Credit Card Transactions Work