Hi all, Please could anyone tell me which is The Best credit card service provider ? Regards, Manju
From India, Pune
1From India, Pune
it basically depends on what service do you want.
eg if you are a happy go lucky kinda person who wants a high limit , moderate spending and is PROMPT in repayment then SBI holds good because it cuts your other expenses substantially.
on the other hand if you want to spend on luxury goods and is living in bigger cities (metros n 7-8 other major cities) , ABN_AMRO n HSBC are also good choice having many tie-ups with malls , hotels and high-end brands.
if you don't mind paying hefty annual fee for the credit card and believe in a no-nonsense , less phone no. sharing co. then HDFC is a good option.
if you are frequent flyer , you may opt for a co-branded card of some banking company and airlines depending upon the sector you travel.
credit card can be use for 0% EMI but then you ll have to find out , what products you want to buy n which card provider has a tie up in with firms in that sector.
personally , what i feel , with no intention of advertising for any co. , is that a person should have SBI credit card (due to high credit limit and lower recurring fees) alongwith ABN_AMRO / ICICI credit card (due to their nil yrly and joining fee so that even if you dont use it very much , you don't end up paying a fee more then your benefits). afterwards one may opt for other cards based onistinct advantages and tie ups. but again , this advise is based on my personal manner of spending , it may and WILL difffer for different people for their different requirements . so first make sure why you want a credit card and then go for it after reading THOROUGHLY regarding their different charges and fees.
and remember to repay it as early as possible in order to avoid accrued exponential interest.
From India, Madras
eg if you are a happy go lucky kinda person who wants a high limit , moderate spending and is PROMPT in repayment then SBI holds good because it cuts your other expenses substantially.
on the other hand if you want to spend on luxury goods and is living in bigger cities (metros n 7-8 other major cities) , ABN_AMRO n HSBC are also good choice having many tie-ups with malls , hotels and high-end brands.
if you don't mind paying hefty annual fee for the credit card and believe in a no-nonsense , less phone no. sharing co. then HDFC is a good option.
if you are frequent flyer , you may opt for a co-branded card of some banking company and airlines depending upon the sector you travel.
credit card can be use for 0% EMI but then you ll have to find out , what products you want to buy n which card provider has a tie up in with firms in that sector.
personally , what i feel , with no intention of advertising for any co. , is that a person should have SBI credit card (due to high credit limit and lower recurring fees) alongwith ABN_AMRO / ICICI credit card (due to their nil yrly and joining fee so that even if you dont use it very much , you don't end up paying a fee more then your benefits). afterwards one may opt for other cards based onistinct advantages and tie ups. but again , this advise is based on my personal manner of spending , it may and WILL difffer for different people for their different requirements . so first make sure why you want a credit card and then go for it after reading THOROUGHLY regarding their different charges and fees.
and remember to repay it as early as possible in order to avoid accrued exponential interest.
From India, Madras
Dear twrmanish,
Thank you very much for your contribution.
I wanted to have a credit card in the matter of emergency cases, like if there is any emergency in the case of hospitalization, some times shopping, or for petrol..
Lets see i am approaching HDFC, SBI and ICICI.
How about Citibank? What you feel about citibank and standard chartd?
Manju
From India, Pune
Thank you very much for your contribution.
I wanted to have a credit card in the matter of emergency cases, like if there is any emergency in the case of hospitalization, some times shopping, or for petrol..
Lets see i am approaching HDFC, SBI and ICICI.
How about Citibank? What you feel about citibank and standard chartd?
Manju
From India, Pune
Manju:
Generally, the nationalized Bank Credit cards have lesser hidden costs. Whichever card you choose, you please check on the following:
* Billing Dates - Usually bills are raised once a month, and there will be a fifteen-day period by which the payment needs to be made. If you plan your purchases accordingly, you can actually enjoy free funds for 45 days!
* Minimum Payment - Most cards let you pay a minimum of 5 % of the total outstanding. But please remember: if you carry forward a balance on your credit card, interest ranging from 1.99 % to 3 % PER MONTH is levied on the outstanding balance. This will work out to an annualized 24 % to 36 %.
* Interest Calculation - If the total amount is not paid on due date, some cards attract interest on your purchases FROM Date of purchase itself. This will mean that you are paying interest for a greater period than you have availed.
These points need to be checked along with the usual processing fee, other charges (like, if a minimum purchase amount is not reached).
But please ensure that, no matter how tempting it may be, you do NOT work up an outstanding balance and that you pay up the entire amount on due date.
All the best!
Sanath
From India, Mumbai
Generally, the nationalized Bank Credit cards have lesser hidden costs. Whichever card you choose, you please check on the following:
* Billing Dates - Usually bills are raised once a month, and there will be a fifteen-day period by which the payment needs to be made. If you plan your purchases accordingly, you can actually enjoy free funds for 45 days!
* Minimum Payment - Most cards let you pay a minimum of 5 % of the total outstanding. But please remember: if you carry forward a balance on your credit card, interest ranging from 1.99 % to 3 % PER MONTH is levied on the outstanding balance. This will work out to an annualized 24 % to 36 %.
* Interest Calculation - If the total amount is not paid on due date, some cards attract interest on your purchases FROM Date of purchase itself. This will mean that you are paying interest for a greater period than you have availed.
These points need to be checked along with the usual processing fee, other charges (like, if a minimum purchase amount is not reached).
But please ensure that, no matter how tempting it may be, you do NOT work up an outstanding balance and that you pay up the entire amount on due date.
All the best!
Sanath
From India, Mumbai
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