One of the biggest challenges of international travel is the additional cost of foreign exchange (forex) markups. Whether you swipe a debit or credit card, you pay an extra 1.5-4% charge on every transaction. Even purchasing foreign currency in cash incurs a fee, not to mention the inconvenience of carrying large amounts of cash. When … Read more
India is celebrating its 78th Independence Day tomorrow.This Independence Day is a good time for you to take concrete measures to be debt-free. When the debt level is exorbitant, it not only puts your wealth creation plan in jeopardy but also whittles away a sizeable part of your income in the form of interest. Let … Read more
Axis Bank will complete Citi’s credit card portfolio migration on July 15. While this is a major shift for Citi credit cardholders, Axis Bank has assured them that the transition will be smooth. In March 2023, Axis Bank acquired Citibank’s India consumer business for ₹11,603 crore. Here’s how the transition will change credit card transactions … Read more
Credit card debt presents a dual challenge for both consumers and the economy, particularly during adverse economic conditions. High payments towards credit card debt reduce disposable income, leaving fewer funds for necessary expenses and discretionary spending. Consequently, this can dampen overall consumption and hinder economic growth. The ensuing financial stress can weigh heavily. Debt often … Read more
Being a millennial with student loans and new careers can be overwhelming. However, by making strategic financial decisions, you can secure your future. This guide offers essential tips to help millennials manage their money wisely and achieve long-term financial goals. Gain financial literacy: Financial literacy is crucial for solid financial planning. It provides the knowledge … Read more
The devil as the saying goes, lies in the details. And with your credit scores this very much holds true. Three numbers, i.e. your credit score will reflect on how they view your approach towards money and how far your discipline towards money goes. And these three numerals make a world of difference whether you … Read more
Students planning to go abroad for higher studies tend to apply for a forex prepaid card with foreign currencies loaded into it. Almost all major banks in India offer forex prepaid cards. One such card, Student Sapphiro Forex Prepaid Card, was launched by ICICI Bank recently. Meant for students who are planning to study abroad, … Read more
Spending money overseas through credit card does not come under the liberalised remittance scheme limit yet, but it may change in the near future. And if it does, credit card users may have to cough up 20 percent tax collection at source (TCS). As per a media report published recently, bringing credit card spend under the … Read more
HDFC Bank will implement revised credit card terms effective August 1st, 2024, aligning them closely with industry standards observed by other banks. The revised credit card terms include: HDFC Bank will introduce a new fee structure for credit card rent payments made through third-party apps such as CRED, Paytm, Cheq, MobiKwik, Freecharge, and others. The … Read more
Dr. Bhalla’s creditworthiness was severely affected by the incident, hampering his access to credit. He pursued legal recourse and successfully resolved the case. This situation is not unique, as many individuals frequently suffer from credit card issues caused by errors and unnecessary complications, resulting in significant personal and financial repercussions. Many fail to grasp the … Read more