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
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
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
Whether credit cards are useful or harmful depends on the person who uses it. To a prudent spender, a credit card means discounts, cash backs, reward points, easy and interest-free credit. To an irresponsible spender or someone who is struggling with cash flows, credit card may mean high interest rates, minimum payments, penal charges and… Continue Reading
Credit cards can provide you many benefits. You can get discounts and cashbacks on the popular shopping portals. You get discounts at your favourite restaurants. You get discounts while booking flights and hotels. You get rewards point which can be used for future purchases and for exciting gifts or gift coupons. We have seen the… Continue Reading
Credit cards are easily available these days. The banks keep chasing customers with attractive offers (or so they say) on their credit cards. Personally, I am not against credit cards. If you use your credit cards judiciously, you can save a lot of money. You get an interest free credit period of up to 52… Continue Reading
You just received your credit card statement. Your cash flows for the month are already stretched. You realize that you won’t be able to make full payment towards your credit card dues. You are aware that the interest on credit card debt (or unpaid amount) is extremely high. You stumble upon an item Minimum Amount… Continue Reading