Did you recently purchase a product on the No-cost EMI? Are you planning to avail moratorium on such a loan? If the answers to both the questions is YES, how will the moratorium affect the No-cost EMI structure? Will this still be a No-cost EMI? Let’s find out. How Do the No-Cost EMIs Work? You… Continue Reading
22-May Update — RBI has extended EMI moratorium on all term loans by another 3 months till 31-August-2020. Following RBI’s Covid-19 regulatory package, your bank may have provided you an option to not pay loan EMIs or credit card payment until May 31, 2020. As a borrower, should you opt for this? In this post, let’s… Continue Reading
My current credit card expired recently and I was issued a fresh card by the bank. An interesting thing about the new card was the it permitted contactless transactions. Call me paranoid but I was not very comfortable with the contactless feature. I asked the bank to switch off the feature but the bank declined.… Continue Reading
Credit card have a closer cousin, Charge Cards. Charge cards are not very common. As I understand, only American Express offers charge cards in India. To add to the confusion, American Express offers credit cards too. With respect to the usage, there is little to differentiate between a credit card and a charge card. You… Continue Reading
Online frauds are on the rise. Almost on a weekly basis, I hear new ways of customers being duped of their hard-earned money. Of late, the UPI frauds have been on the rise, where the fraudsters call/text you on one pretext or the other. You eventually end up installing malicious software on your phone or… Continue Reading
Who does not like to get things for free? Credit card reward points is a case in point. Many of us accumulate huge reward point balances either due to inertia or wait to use those points in the best possible manner. If you belong to the this category of card holders, you need to appreciate… Continue Reading
You are struggling with your loans and credit card debt. And you don’t have just one loan. You have quite a few. Your cashflows don’t permit you to attack all of them at once. At the same time, you don’t want to let your cashflows affect your credit score in a big way. To put… Continue Reading
Online shopping is getting increasingly popular these days. There is convenience, variety and yes, discounts. Moreover, these online retailers keep running offers on various credit cards. As a buyer, even if you don’t like to use credit cards, you wouldn’t want to let go of easy discounts or the No-cost EMI option. Despite your dislike,… Continue Reading
You must make a purchase or spend some money, but you don’t have the money. If we leave out informal options like hand loans from friends and family, you must fund the expense through credit. Let’s assume the amount is not big enough for you to go through the pain of applying for a secured… Continue Reading
Recently, I read an excellent article from Uma Shashikant about the signs of a person battling with debt. Remember, the person who is in debt trap or nearing one may not tell you if that’s the case. However, if you see such signs and realize that your friend or family member is struggling with debt,… Continue Reading