Written by Oliver Laker on May 9, 2011.
Usage of credit cards have again taken a rise as is evident from the rise in transactions reported last fiscal. Transactions via credit cards have risen by 22.15% in the fiscal last ended, figuring to Rs 75,515.68 crore.
The number of cards in circulation has however seen a dip by about 1.5% amounting to 1.80 crore by the end of last fiscal as against 1.83 crore.
Transactions by debit cards have risen by 46.46% to Rs 38,691.88 crore as against Rs 26,418.11 crore in 2009-10.
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
Written by Tim Peak on April 5, 2011.
Citi has revamped the reward credit card lineup for its ThankYou Rewards Program. The bank now offers three tiered rewards credit cards that have varying annual fees and point reward systems.
The Citi ThankYou Preferred Card is the lowest tier card, with no annual fee, great rewards in the first year, and a 12-month introductory interest rate.
The Citi ThankYou Premier Card is in the middle. It’s a travel rewards card with a higher annual fee – $125 – that’s waived in the first year, up to 1.2 points on each dollar spent, several opportunities for bonus points, and no foreign transaction fees.
The Citi ThankYou Prestige Card is the most expensive with a $500 annual fee that’s not waived in the first year.
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