Credit Card

You can get the limit raised by giving a call to the customer care centre or place a request at the nearest branch of the concerned lender. If the repayment track remains good, the lender can raise the limit of the credit card.

The unbilled amount refers to the spends made after the bill generation date. You can see the unbilled portion in the next billing cycle of a credit card.

The credit card statement often shows the minimum due, which gets calculated at about 5% of the total outstanding balance in a billing cycle.

No, if you pay the entire outstanding balance on or before the due date of the payment.

No, the payment of minimum due only inflates the bill by inviting interest and taxes. The subsequent shopping will further pile on the misery if you continue to pay minimum due only.

Yes, there will be charges on revolving card dues at around 2%-3.5% per month. So, if a bill worth INR 25,000 comes and you pay INR 15,000 only, the remaining INR 10,000 will be added to the next billing cycle. The interest would thus be charged on the unpaid balance. Plus, on the interest amount, the GST at 18% would also be charged.

The payment delay will negatively impact your credit health by lowering your score. If you continuously delay the payment of credit card dues, not only your credit score goes down but even the late payment charges, interest and taxes mount.

Timely payments would constantly raise your CIBIL score, hence increasing the scope for a credit limit enhancement. It would also brighten your future credit prospects.

Debt settlement is an agreement you sign with the lender to reduce the debt to an amount you would find it easy to pay. Normally, lenders agree to reduce the interest liability while discussing a debt settlement deal with customers.

Not at all. Your status will be recorded as debt settled, which clearly means your inability to pay off the dues in full. The CIBIL score may not come down but would negatively impact your credit history. As a result, you may find it tough to get a loan or credit card approval in the future.

Yes, you can, by servicing different kinds of debts responsibly. The effective management of debts raises your creditworthiness, resulting in a pre-approval for credit cards.

Yes, you can by the following ways.

• From a bank where you have a salary account
• From a bank where you have been maintaining a savings account or any other relationship for long
• A card can be issued against fixed deposit, with the credit limit likely to be 80%-90% of the FD amount

If the credit score is found to be low, you can apply for a credit card against the fixed deposit. Just check with the lender about the minimum amount needed to open a fixed deposit.

Yes, you can transfer your outstanding amount on one credit card to another credit card with the Balance Transfer Facility. This facility allows you to repay the outstanding balance in easy monthly installments at a lower rate of interest. Almost all the banks and financial institutions provide this facility to their customers.

Yes, you can, provided you have a good CIBIL score and conform to the requirements with respect to age and income as stipulated.

Yes, you can get a credit card. However, banks won't feel comfortable offering you an unsecured credit card in the absence of income proof. You can thus apply for a card against the fixed deposit. This is called as secured credit card.

Yes, if the existing card lacks offers that are there in competing products. You can request for an upgrade at the bank branch and get exciting features added to your card. The upgrade would eliminate the requirement of applying for a fresh one. With that, you won't need to manage different credit cards which can be the case otherwise.

Mobile companies and other firms display brand new products on e-commerce websites to gain more user traction. When you go to shop these products, you would need to choose from several payment modes such as credit card, debit card, internet banking and even EMIs. You can thus choose the EMI option to pay over a select tenure of 3, 6, 9,12, 15,18 or 24 months. The interest rate on EMI transactions comes anywhere between 14%-18% per annum, much unlike 30%-40% on revolving dues.

These are offered to spouse, father, mother, son and daughter of the primary cardholders.

Yes,credit cards offer protection through the following.

• Certified EMV Chip
• Zero lost card liability, wherein you just need to report the incident to the customer care of the concerned credit card issuer to stay protected against fraudulent transactions made after the loss of the cashless instrument.

Immediately dial the 24x7 customer care executive of the concerned lender if and when such an incident takes place. Get the credit card blocked immediately to prevent an unauthorized use of the same. You can check the customer care number on the card issuance letter and even on the website of the lender.