Have you ever received an unsolicited card? OR received a card that you applied for but now think that you shouldn’t have applied for this card. As per regulations, the banks are prohibited from issuing unsolicited cards and are required to seek consent from the customer before issuing a card. Reproducing an excerpt from RBI… Continue Reading
Have you come across a friend or a colleague who cannot keep a check on monthly credit card expenses and struggles to come to terms with the size of the card bill? Vows to keep expenses under check from next month, but the story keeps repeating. I am sure you have. You wonder why. They… Continue Reading
Ever wondered how Amazon Pay ICICI Bank Credit Card and Flipkart Axis Bank Credit Card can offer 5% cashback for purchase transactions on Amazon and Flipkart respectively? 5% is a lot of money. While I am not privy to internal arrangements between the banks and these retailers, 5% is still a hefty cashback. In this… Continue Reading
A loan for one is an investment for another. And vice versa. Your loan (liability) is an investment for the bank. Your investment in a bank FD is a liability for the bank. Similarly, your insurance investment is a liability for the insurance company (in cases where the returns are guaranteed). We have seen how… Continue Reading
Your daughter studies in a different city. You transfer money to her bank account every month for her regular expenses. Or whenever she asks for it. UPI payments are accepted everywhere, and she has no problems getting by. She conveniently makes payments from her favorite UPI app for her purchases. Now, imagine she needs Rs… Continue Reading
Our brains are not wired to perform very complex calculations without assistance. Either we need pen and paper to solve. Or a calculator or spreadsheet software to solve complex problems. Now, if you really want, it is not difficult to find a pen and paper. And mobile phones provide 24X7 access to calculators and spreadsheet… Continue Reading
Recently, I signed up for a RuPay credit card from a leading private sector bank. I already had a couple of credit cards, but I still signed up more out of curiosity and excitement than anything else. UPI is ubiquitous now and I didn’t want to be left behind in understanding how credit card payments… Continue Reading
There are two schools of thought on borrowing. Both are right in their own way. Don’t borrow. Don’t waste your money on EMIs. Debt is evil. Invest for your financial goals, grow your money, and enjoy only when you have enough money. OR Money can be earned later too, but the time won’t come back.… Continue Reading
A common answer is 35-40% of the net take home salary. If you search on the internet, you will get an answer in a similar range. The banks may also have internal guidelines where they may not let your loan EMIs exceed a certain percentage of your net salary. When it comes to financial planning,… Continue Reading
Have you ever lost your credit/debit card? If you have, how did you react? Did you panic? What is the first thing you did? However, do you really need to worry? Don’t credit cards have inbuilt security features? For instance, when you swipe your credit card, you must enter your credit card PIN. And unless… Continue Reading