Information guides of Credit Cards

How To Automate Your Late Payment Collection?

Collectors gain a position of prominence in the company as they are the ones who bring in revenue and are the first point of contact for debtors. More productive agents mean more efficient collections and higher company income. Although ‘debt collection’ has traditionally been a “call-and-respond” industry in the past, today, more automated tools are available to improve the process and reduce the limitations of humans.
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What is an Automated Debt Collection System?
An automated debt collection system is software, that allows lenders to keep track of the loans disbursed and follow-up with their respective debtors, estimate, and prioritize debt collection and recovery. A debt collection software is integrated with the enterprise resource planning (ERP) software of the lender. A loan management system will help the lenders get an overview and hold over the debt management procedure while automating debt collection using technology.
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should i cancel my credit card if i don’t use it anymore?

the answer might surprise you.
if you own a credit card that you don’t use anymore, canceling the card seems like a no-brainer. however, credit card pundits would disagree. unless it comes with an annual fee, you’re better off keeping the card. even if your card does come with an annual fee, cancelling the card should be your last option as there are other solutions you could consider.
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is it worth keeping unused credit cards?
assuming you have a credit card that has no annual fee and you care about your credit history, it is definitely worth keeping your credit card even if you don’t use it. here are a couple of reasons why:
it does no harma free unused credit card does not cause any harm apart from occupying more space in your wallet. even if you don’t use a lot of its benefits, for the sake of your credit score, you should consider keeping it.
emergency line of creditit’s always good to know that you have backup funds on a rainy day. while it is generally not advised to use a credit card for emergencies, it still brings about a sense of financial peace of mind.
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Universal Account Number

Universal Account Number or UAN is generated and allotted by Employee Provident Fund Organization which is authenticated by the Ministry of Labor and Employment, this unique code is provided for every employee who is contributing to the EPF, by the government of India. As EPF service is operated online UAN is very important as the whole process is linked to the unique number with UAN the individual can access his/her personal PF account for services like withdrawal. to check the EPF balance by self, and application for a loan could be very easy with the help of UAN.
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What are the Features of UAN?
UAN Number is permanent (remains same) for the employee even if the employee changes the job, but the employee will be provided with the new Member ID when the employee switches to a new job.
UAN keeps track of how many times the employee changes the job.
It helps in getting access to the bank and KYC of the employee with EPFO.
It has reduced the number of withdrawals from EPF with the introduction of UAN.
It makes the easy verification of the employee for the company and organization.
What is the procedure to get the UAN?
The individual can get UAN by 2 methods one is from the employer, and it is found on the salary slips itself, from where the employee can get the UAN.
The other method is one can get from the UAN portal.
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Standard Chartered Ultimate Credit Card

contactless transactions feature, targeted on the high-net-worth individuals, this card is packed with multiple benefits like traveling, dining and offers 24/7 ultimate concierge helpline for its users. This credit card offers the reward rate up to 3.3% which is more than that of the other cards like the HDFC Infinia, Diners Club Black and other credit cards available in the market. Additional information about this black plastic card is mentioned below that will help you decide whether this is the right one for you or not.
Benefits and Features:
Welcome Benefit -
Get 6000 reward points as Welcome bonus, this reward itself covers the joining fee.
Renewal Card Benefits -
Get up to 5000 reward points upon renewal.
Reward Program -
Get up to 5 reward points on every Rs 150 spent.
1 reward point is equal to Rs 1.
Travel Benefits -
Get 1.5% cashback on international spending’s.
On duty free transactions get up to 5% cashback
Get 4 complimentary domestic airport lounge accesses per quarter.
Get 1 complimentary international airport lounge access per month (Terms Apply)
Dining Privileges -
Via Dine out plus membership get up to 25% discount at the partnered restaurants
Golf Privileges -
Get 1 complimentary golf game per month for sure.
User will get 1 complimentary golf lesson per month.
Insurance Coverage-
The credit card holder will get insurance coverage on air accidents, baggage loss, etc. (Terms Apply)
Bottom Line -
If you are not satisfied with the HDFC Bank Infinia or Diners Club Black Credit Card, then get Standard chartered ultimate credit card for your wallet as it is the best one that fits for your wallet and lifestyle as it has wide range benefits as the rewards, dining Privileges, travel, insurance, etc.
But the irritating feature of the card is that though the reward rate is 3.3% but the redemption procedure is a bit headache as the reward redemption is limited but keeps on changing, the user must track regularly to get the meaningful redemption. And to get the complimentary lounge access depends on the monthly spending criteria (more than 20,000). But the default 3.3% reward rate makes it the best credit card.
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Best Reward Cards in India

From groceries to fuel to movies, rewards cards help you earn cash, points or miles from your everyday purchases. You can redeem your rewards for cash, shopping, or travel. We analyzed different reward cards to give you the best recommendations. You'll learn how to choose the best rewards credit card for your lifestyle. The best rewards credit cards are about as rewarding as they’ve ever been, offering signup bonuses and with reward rates up to 2%+ on purchases.
Should I use only one credit card?
Though managing one credit card is easy so that you can keep your spending and payments manageable, using a single card in most cases does not provide the best overall benefit. It is a choice you make between easy maintenance and enjoying overwhelming rewards. Because not all cards are made to provide equal benefits, every card is unique and card issuers partner with service providers to offer specialized offers, so it is advisable to do the math to see if utilizing more than one credit card offers you an overall best reward.
For example, if you have 2 credit cards one will give the best value for fuel and another card gives the best cashback on groceries, departmental store, and payments to utility bills. You can maximize your benefits by using two best cards from the respective category.
Maintain a credit utilization below 30%
Just because you have a high spending limit doesn't mean you should use all of it, keeping the utilization below 30% can help you maintain a high credit score. It is not only to maintain a high credit score, but you are also advised to have lower utilization of your credit, having a buffer on your credit limit can help you out during emergency situations, though 100% utilization cards affect your credit score.
Redeem your rewards regularly
We all save for the future but rewards have an expiration and in some cases, you won't even remember you have rewards. So making a habit of redeeming your rewards regularly is as important as choosing the right credit card that offers you the best rewards. There is no point in finding the right card if you don't utilize the benefits offered. Usually, most of the credit cards have a reward expiry of 2 years, so better use it to recharge your phone or redeem a gift card of your favorite store. If you have long term goals like a vacation trip, you can accumulate enough points to pay for a plane ticket to your vacation trip.
If your reward card has a redeemed option of a statement credit or direct deposit to your bank then redeem it as soon as you hit the minimum redemption amount.
Pay credit card monthly balance on time
The rule of thumb for maintaining a good credit score is to pay your monthly dues on time. Regularly paying monthly dues not only helps your credit score but also helps you avoid paying late fees and accumulating interest.
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