Credit card frauds — nobody wants to experience one. However, there is no dearth of charlatans who want to pull one over on you. In the past, I have written many times about how to prevent credit card frauds. But this is an evergreen topic and it never harms to revisit some of the common… Continue Reading
ICICI Bank has launched an EMI facility for UPI payments under its ICICI PayLater product. With this, you can scan a UPI QR code from the UPI app and purchase using an instant EMI facility. So, you purchase an item worth Rs 15,000 and instantly convert this into 3 EMIs of say Rs 5,200 each.… Continue Reading
How do you make UPI payments? 3 broad ways. Link bank account to a UPI app: Your account gets debited, and the merchant/peer account gets credited. You can only spend the money in your account. Link RuPay credit card to a UPI app: Not Visa, not Mastercard. Only Rupay card. You get credit for UPI… Continue Reading
You do not pay any interest during the interest-free period on the credit card. But the bank cannot afford to lend you money for free. The bank must be compensated — two major ways and a few minor ways. High Interest on Unpaid Amount First, when you do not pay your bill on time, the… Continue Reading
If you use BNPL (Buy Now, Pay Later) service or cards from Slice or Uni Pay, this development will interest you. BNPL has emerged as a competitor to credit cards. Easy onboarding. Seamless and convenient process. Easy repayment terms. Instant credit. Who needs a credit card? However, RBI, in its latest notification to non-bank PPI… Continue Reading
In the monetary policy announcement on June 8, 2022, the Reserve Bank hiked the repo rate by 0.5%. Bad news for borrowers. The interest on floating rate home loans would soon go up. Either the EMI or the loan tenure will go unless you part prepay your loan. Apart from the rate hike, the Reserve… Continue Reading
Have you received messages from your bank that the standing instructions on your credit card will not be honoured from April 1, 2021? And that you must make payments to the service providers/merchants directly. Thus, if you have automated your payments to streaming service providers (Netflix, Disney Hotstar, Sony Liv etc) or for utility payments… Continue Reading
Paytm has launched a feature where you can pay your house rent using your credit card. Usually, we pay house rent through cheques or direct bank transfers. No credit involved. The credit card feature is interesting. From Paytm’s perspective, this feature makes good sense. House rent payment is one of the biggest monthly recurring payments.… Continue Reading
I am a bit paranoid about using credit cards online. Therefore, I prefer to use wallets (such as PayTM) or UPI on new sites or the sites I do not trust much. A problem with this approach is that you cannot use wallets or UPI on international websites. In addition, there are a few minor… Continue Reading
UPI transactions have boomed over the last couple of years and are giving serious competition to credit/debit cards and net banking in online transactions. The only problem is that you cannot make UPI payments on credit. i.e., the money gets debited from your savings bank account. You must have the money in our bank account… Continue Reading