Information guides of Credit Cards

REASONS WHY YOU SHOULD GET AN HDFC BANK CREDIT CARD

Credit cards are safer to carry than cash and offer stronger fraud protections than debit. You can earn significant rewards without changing your spending habits. It's easier to track your spending. Responsible credit card use is one of the easiest and fastest ways to build credit.
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Here’s a list of key Credit Card benefits:​​​​​​​
Convenience: Why carry wads of cash around when you can pay with a simple swipe of your card? A Credit Card is one of the simplest ways to pay for anything – no more counting out change or writing cheques, just present the plastic! You can even link your card to your digital wallet, which allows you to scan and pay without even having to carry your card in your wallet.
Recurring payments: While Credit Cards are great for one-time payments, you can also set it up to automatically make recurring payments such as your phone, electricity or gas bills. No more will there be a chance of forgetting to pay bills on time and facing penalties or disconnection.
Recharges and tickets: One of the biggest Credit Card benefits over cash is the ability to pay for a wider range of online services. For example, you can’t buy flight tickets or recharge your mobile phone with cash on delivery. You can easily pay for them through a Credit Card.
Interest-free credit: A Credit Card comes with a grace period between purchase and payment (could be up to 50 days) during which the bank does not charge any interest. This is a perfect example of buy now and pays later.
Rewards: Every time you pay using an HDFC Bank Credit Card, you earn Rewards. You can redeem these rewards for exciting gifts and vouchers such as free shopping trips or even free flight tickets.
CashBacks and discounts: From fuel surcharge waivers to great online shopping deals, your HDFC Bank Credit Card opens the doors to a host of CashBacks offers and Reward Points, especially with selected offline and online merchants.

How To Use Credit Cards Responsibly

It’s easy to get in the habit of using a credit card when you make purchases. It can be a simple and fast way to pay—whether you like the convenience of not carrying cash or are all about earning rewards when you spend. But what about your other credit card habits? Are you using your card in a way that helps—or hurts—your credit?
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1. Read Your Card Agreement and Know Your Terms
When you open a new credit card account, be sure to carefully read the credit card customer agreement and the account opening disclosures. This way, you’ll know what to expect when it comes to due dates, fees, interest rates, and other information.
2. Make Payments on Time
As the Consumer Financial Protection Bureau (CFPB) explains, you should make your payments on time, every time. That’s because your payment history is an important factor when it comes to your credit scores. And missed or late credit card payments can not only affect your credit—they can lead to late fees and interest rate increases, too.
3. Pay More Than the Minimum
Making your credit card minimum payments on time every billing cycle helps you avoid penalties and fees. And paying the minimum keeps your account in good standing. But if you only pay the minimum, you’ll be carrying a balance. And you’ll be charged interest on that balance.
4. Stay Below Your Credit Limit
Only use the credit you really need. Better yet, stay well below your credit limit.
Why? Your credit scores could be affected by your credit utilization ratio—how much of your available credit you’re using. And the lower your credit utilization ratio, the better your credit score might be. In fact, the CFPB recommends using no more than 30% of your credit limit.
5. Check Your Monthly Statements Carefully for Accuracy
Regularly checking your credit card statements—either online or when they arrive in the mail—can be a great way to keep your spending top of mind. It can help you spot transactions you don’t recognize. And that could help protect you from fraud.
6. Report a Lost or Stolen Card Immediately
Report your card lost or stolen if you’re missing your card or think someone stole your account number. When you do, your card issuer will deactivate your old card so no one else can use it. And you can tell the issuer if there are purchases on your account that you didn’t make.
7. Monitor Your Credit
It’s always a good idea to keep a close eye on your credit. Monitoring your credit can help you keep track of where you stand. And it’s another way to help you spot errors and potential fraud attempts that could be hurting your credit.
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Different Types Of Credit Cards Explained!

Different Types Of Credit Cards Explained!
Credit Cards are small-sized plastic cards that can make life very simple. These cards allow you to purchase goods and services on credit, the money for which you can return at the end of every month. You can choose to pay the full amount of credit that you have borrowed from your credit card issuer or a minimum fixed amount every month. In case you pay only the minimum amount, remember that you will be charged interest on your outstanding balance. There is a credit limit set for you by your card provider.
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Mentioned below are the top Gold credit cards available to customers in India:
SBI Gold & More Credit Card
SBI Student Plus Advantage Credit Card
SBI Advantage PlusCardredit Car
BMB Gold & More Credit Card
HSBC Bank Gold credit card
PNB Global Gold Card
Canara Global gold credit cards
Bank of India Navy Gold
Bank of India visa Gold Card
Bank of India Visa Gold International Card

What to Do If You Miss a Credit Card Payment?

Missing a credit card payment is not the end of the world if you act fast. Learn how to minimize the damage of a missed payment to protect your credit score.
Missing a credit card payment is not the end of the world if you act fast. Learn how to minimize the damage of a missed payment to protect your credit score.
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Key Points:
If you miss a credit card payment, try to make at least the minimum payment as quickly as possible.
By moving quickly, you can avert damage to your credit score.
The consequences of missed payments are grave and long-lasting if you fail to act quickly.
Seek credit card help if you can’t keep up with your payments.
Even though you know that you should never miss a credit card payment, accidents sometimes happen. You may run into a financial emergency or forget to pay your bills on time. Juggling several credit cards can make it difficult to remember the different due dates.
Despite your best efforts, the unthinkable has happened. You have missed your credit card payment. What do you do to contain the damage?
Swing into damage control mode as soon as you become aware of your missed payment.

Teaching Kids How to Handle Money At A Young Age Can Really Pay Off

Helping children to build a strong financial foundation is an important lesson that contributes to lifelong well-being. It’s a lesson parents and caregivers play a key role in teaching. Here are several ways to share lessons about money with children.
One way to help children understand finances is to allow them to open their own savings accounts, pay them allowances, and give them some control over how they spend their money.
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For older children, you can ask them to contribute to the cost for items they really want, such as a subscription to a streaming service or an online gaming system. This can help children appreciate the value of budgeting, saving, and spending.
Another lesson is to help children identify the difference between needs and wants. Wants are desires for goods and services we would like to have but do not need. Needs refer to things we must have to survive, such as food, water, and shelter.
To help children save for their wants, start with savings goals. Children can earn money through allowances for doing chores around the house. Then, you can take them to their financial institution to make deposits. They can even set up subsaver accounts within their main savings accounts and name them for various goals.
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Having kids watch their savings grow and use their own money to buy things is a great way to demonstrate the value of saving.

How to create a Budget ?

Create a Budget In Three Steps
While there are many methods and tools you can use to establish a budget, it can still be a challenge to stick with it. Here are some steps you can take to learn how much money you have available to spend, and how to decide where to spend it.
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First, determine your monthly income. This includes what you earn from your job, plus any other sources of income, such as side jobs. Then determine your net income — the amount you receive after taxes and other deductions (health and life insurance, 401(k) contributions, etc.). These are the funds available to spend in your budget.
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Next, identify your priority bills like your mortgage or rent payment; basic utilities; auto payment; groceries; gas; debt payments, such as credit card balances; and insurance premiums. To budget for bills not paid on a monthly basis, calculate by dividing the amount of the expense over the appropriate number of months. For example, a quarterly payment would be divided over three months.

SBI Credit Card Features

SBI Credit Cards are among the most preferred Credit Card options in the country since their entry into the market in the year 1998. Today they have become the second-largest Best Credit Card Provider in India, with millions of satisfied customers who are availing a wide range of SBI Debit Card & credit card benefits.
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Some features and benefits that set SBI Credit Cards apart from the rest are as follows:
Email and SMS notification: With every transaction, you have the advantage of real-time transaction details and Credit Card limit alerts that are sent to you via emails and SMS.
Safe and Secure Cards: These cards use pin and chip technology, which is accepted worldwide and can be used in millions of outlets across the globe.
Increase Credit Limit: You have the option of increasing your Credit Card limit when you deem it necessary.
Online Account Access: You can access your Credit Card account from anywhere in the world to check transactions and limit on your card.
Control your spending: You can add daily, weekly, and monthly limits to limit your spending on the card.
Insurance: You can choose insurance options for card theft in addition to accessing health, mobile phone, automobile, and travel insurance on your SBI Credit Card for emergencies.

Best SBI credit cards with their features and benefits

In today's expensive world, credit cards are a necessity.
now, it is easier than ever for salaried individuals to apply for a credit card due to a quick approval process. since SBI is the largest lender among all banks, more people are applying for SBI credit cards for the benefits they offer.
SBI credit cards offer some of the best discounts, rewards, and benefits to their customers, as compared to other banks in India. however, choosing the best credit card can be challenging; every credit card has its pros and cons.
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in this article, we have compared and reviewed the top SBI credit cards to help you choose the best SBI credit card for your needs.
Best SBI credit cards in India
1. SBI SimplySave credit card
2. SBIsimply click credit card
3. SBI Card Prime
4. SBI Elite card

credit card cash withdrawal: pros and cons

your credit card doesn't work like your debit card
withdrawing cash from an ATM seems a normal thing to do. but the road to credit cards often run deeper than just that because withdrawing from a debit card does not work the same as withdrawing from a credit card. although the transaction process is the same as your debit card, there are certain fees and charges that come attached to withdrawing money from a credit card. let us help you understand how withdrawing cash from a credit card is vastly different from a debit card.
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what is credit card cash withdrawal?
the credit card cash withdrawal feature, technically known as credit card cash advance, allows you to withdraw cash using your credit card at an ATM. this does not involve any documentation or approval from a bank as it is a feature that comes with your credit card. the cash withdrawal feature may not be available on all credit cards, and the withdrawal limit and charges may differ from bank to bank.
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credit card cash withdrawal: fees and charges
withdrawing cash using your credit card is generally discouraged by banks since you are borrowing hard cash. for that reason, there are certain fees and charges associated with credit card cash advance.

How to pick the best visa or MasterCard

1. Check your credit Find out what credit card offers you might be eligible for by checking your credit score. The better your score, the greater your chance of being approved for cards with better perks. Among ways to check your score: NerdWallet offers free access to credit scores. Many credit card issuers give cardholders free FICO scores. The three major credit bureaus (Experian, Equifax and TransUnion) sell credit scores.
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2. Identify which type of credit card you need There are three general types of credit cards: Cards that help you improve your credit when it's limited or damaged. Cards that save you money on interest. Cards that earn rewards. The best card for you is one with features designed to meet your specific needs. If you don't travel much, for example, then the best travel card in the world isn't going to do you a lot of good.
3. Narrow your choices by asking the right questions Visit NerdWallet’s credit card comparison tool and search for the type of credit card you're looking for, filtering results according to your credit score and monthly spending. As you go through the top picks, consider these questions.
4. Apply for the card that offers you the highest overall value Narrowing your choices is the easy part, but deciding between two or three similar cards can be quite difficult.
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If you've already found a clear winner after Step 3, go with that one. If not, it’s time for a tiebreaker round. Look closely for differences. All other values being equal, here are some factors that might set a card apart:
For student and secured cards: Credit limit automatically increases. Certain cards let you increase your limit after a few consecutive on-time payments.
Interest paid on your deposit. Some secured cards place your security deposit in an interest-earning CD. This way, you can earn a small amount of money on it.