Cardholders may sometimes face one or more credit card debts that they are not able to pay at once. In this case, they may transfer the entire outstanding amount from all the credit card accounts to a single account. The balance transfer credit card that consolidates the outstanding amount usually charges a much lower interest rate as compared to the finance charges. Do note that certain card providers even offer 0% interest rate for a limited period.

To know more about how credit card balance transfers work, visit: https://cardinsider.bcz.com/2022/08/17/how-do-credit-card-balance-transfers-work/

Benefits of credit card balance transfer

Reduced Financial Strain – Balance transfer credit cards charge a significantly lower interest rate when compared to finance charges. Credit card finance charges (interest rates) are about 3.5% p.m. while the interest rate on a balance transfer is usually around 1.8% per month. Some card providers may also offer 0% interest rate. Lower interest rate means lower financial burden.

Stabilize Credit Score – Lowered interest rates will make it easier for the cardholders to make payment and hence stabilize their credit score. They can even improve it with timely payments.

Interest-Free Period – Credit card providers offer an interest-free period on new purchases post balance transfer as well. This way customer can make new purchases without incurring interest rate on it.

Other Benefits – Credit card providers sometimes offer teaser rates or other introductory offers to customers. These benefits may include longer interest-free periods, low interest rates, etc.

There are some fees and interest included in these services

Processing Fee – Customers will be charged a processing fee for a balance transfer that can range anywhere between 1% and 3%. Some banks may also charge a flat fee.

Interest Rate – The interest charged on Balance Transfer can be 0% for a certain period. But, the interest rate is usually around 0.75% and may go up to the particular credit card’s finance charge.

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Buy Now Pay Later Cards Vs Credit Cards: What’s the Difference?

In the past few years, we have seen banks, e-commerce companies and even fintech players offer schemes for shoppers called Buy Now, Pay Later (BNPL). The BNPL is a financing option that allows shoppers to make purchases and pay for them at a future date with an interest-free period.

So, how does buying something using a credit card differ from using the Buy Now, Pay Later Scheme?

To know about credit cards and BNPL cards, visit: Buy Now Pay Later Cards Vs Credit Cards: What’s the Difference? (easyfie.com)

What Is Buy Now, Pay Later?

Buy now, pay later is a type of short-term financing. BNPL plans often charge no interest and no fees, with the exception of late fees for missed payments.

How Credit Cards Differ

Credit cards can be used at retailers. But they can also be used to buy gasoline, make utility bill payments, and accommodate other kinds of expenses. If the cardholder pays their balance in full each month, they won't owe any interest. Otherwise, their balance will accrue interest at the card's annual percentage rate (APR).

Buy Now, Pay Later vs. Credit Cards: Which Is Better?

Buy now, pay later plans and credit cards are both options to consider when making purchases online or in stores. But each has some advantages and disadvantages.

Pros of Buy Now, Pay Later

• Convenience: You can apply online and be approved almost instantly
• Get approved without a hard credit check, which can lower your credit score

Credit Card Pros

• Can be used at a wider array of retailers and for other purposes
• Pay off purchases over time at your own pace, without fixed instalment payments
• Potential to earn cash back, miles, or points on purchases

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How to make travel creditcards work for you

You’ve probably heard of travel credit cards or travel rewards cards, but you may not be clear on how they work. These cards pay you points or miles for making both travel purchases and everyday purchases. Once you accumulate enough points or miles, you can redeem them for rewards like flights and hotel stays.

To know more about travel credit cards, visit https://www.launchora.com/story/1659695603-how-to-make-travel-credit-cards-work-for-you-0

If you travel often, one of these cards can be a smart financial tool. Are you thinking of applying for a travel credit card? Here are the basics of travel credit card rewards to get you started.

Many travel cards come with generous sign-up bonuses. These welcome offers usually require you to spend a certain amount within the first few months of opening the account. Although these bonuses are often an attractive incentive to apply for a card, make sure the spending requirement is realistic for your budget and travel plans.

Credit card fees don’t directly affect the rewards you earn, but the cost of the fees affects a card’s overall value to you. Take note of all the fees associated with any card you’re interested in getting.

Annual fees

Not all travel cards come with an annual fee, but those that do typically range from $95 to over $500. If you’re interested in a travel card that has an annual fee, be sure that the rewards and benefits will offset the cost.

Foreign transaction fees

Some credit cards charge a foreign transaction fee for overseas purchases. This fee is usually around 3 per cent of purchase, and you’ll pay this fee for every transaction. If you travel abroad frequently, you should consider getting a credit card with no foreign transaction fees.

It’s important to find the right travel card for your needs. For example, if you’re partial to a certain airline or hotel chain, a co-branded card can offer higher rewards rates, discounts and perks. Additionally, pay attention to a travel card’s rewards categories. For example, earning points or miles at restaurants won’t deliver a lot of value if you rarely dine out. But if you use services like Lyft or Uber a lot, you may want to look into a card that offers points or miles for rideshares.

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A business credit card is a card specifically designed for business expenses rather than for an individual's personal use. Business credit cards help businesses and corporates in streamlining their expenses and avail several business-specific benefits. A number of banks are offering business credit cards with multiple advantages. Here we have listed some of the credit cards for business units which would help you choose the ideal card as per your requirement.

Click on the link to know more about Best Business Credit Cards in India: https://ello.co/cardinsider/post/ijv1zgvhuzyktgxp5ccr7a

SBI Platinum Corporate Credit Card.

• Track and control your organisation's expenses with Visa Intellilink spend management tool
• Card is accepted at over 38 million outlets across the globe including 03 million outlets in India
• ICICI Bank Business Advantage Black Credit Card
• Up to 1% cashback on eligible domestic and international spends (Eligible only on Airline, Hotel and restaurant spends)
• Savings on fuel surcharge at 1% (assuming monthly spends of Rs 5,000 at HPCL Petrol Pumps)

HDFC Business MoneyBack Credit Card

• Zomato Gold complimentary Membership for a year
• 5% Cashback on Telecom, Electricity, Government/Tax, Railway, Hotels Dining and Taxi
• Check other Cashback Credit Cards in India
• 5X Reward Points on Fuel capped at 1000 Rewards per calendar month (valid for 1st year only)

Axis Bank My Business Credit Card.

• 2 complimentary airport lounge visits every quarter (2 times in 3 months)
• Withdraw cash up to 30% of your credit limit from over 1 million Visa ATMs
• 1% fuel surcharge waiver on all fuel transactions in India

Citi® Corporate Credit Card

• Complimentary access to domestic airport lounges
• 2 reward points per Rs.125 spent
• Up to 15% on dining across participating restaurants

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There are many credit card companies that will offer you cash back rewards for credit card purchases that are made using your card. For a lot of those companies, if you use the credit card as a debit card you will miss out on some of those rewards and also have to pay transaction fees. The credit card companies encourage the use of non-pin transactions because it helps to fight against and prevent fraud. If you are asked to enter a pin number for your purchase, then you can be certain that the purchase is being counted as a debit card transaction instead of a credit card transaction, since credit card transactions do not require pin numbers.

Click on the link to know more about the How to Use a Credit Card Without a Pin Number: https://ello.co/cardinsider/post/3fupdw8q90jyjuqzu2f0ka

Credit Versus Debit Transactions

Historically in the United States, debit card transactions have been PIN based and credit card transactions have been signature based. Today, however, most of the major credit card companies including Visa and Mastercard allow their networks to be used for debit as well as credit card transactions. As a consumer, you have the option of paying via debit or credit with the same card. You can typically choose to sign or enter a PIN at the cash register.

How to Pay By Credit

To make sure you're using your card as a credit, look at the Point of Sale or POS machine to see if there is a "credit" option to pay for your purchase. Most POS machines will have debit and credit buttons. If you can't see the POS machine, ask the sales representative whether or not there is a "Credit Card" option for payment. If there is, swipe the magnetic stripe that is on the back of your credit card through the POS machine or insert the card into the designated slot if it has a chip. All you have to do then is sign the credit card receipt to complete your credit card payment.

Things to Watch Out For

If you're using your card as a credit card, be sure to keep the "customer copy" of the receipt for your records. You will need this to reconcile the transaction with your credit card statement when it arrives at the end of the month. Be aware that many locations will only require you to sign for your purchase if the purchase amount is more than $25 and some will not require a signature at all; where a signature is not required, swiping your card should suffice. As long as you selected the "credit" option at the point of sale, the transaction will still count with your credit card company as a credit card purchase.

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It's a simple fact that in order to establish credit, you have to use credit. For that reason alone, it's a good idea to use credit from time to time. Beyond that, there are also certain types of purchases that you should always use credit cards for because of the increased security that cards offer. Many credit cards also offer additional perks like points earned on purchases, which can really add up over time, essentially equating to "free money" for those who are consistently able to pay off their card balances, never having to pay costly interest fees.

Click on the link to know more about the purchase you should always make a credit card: https://www.kooapp.com/koo/cardinsider/9a201bbb-d986-4314-8c22-fe93f5e97070

Note, however, that cardholders should fully understand the perks, features, and limitations of their cards' programs such as cash back, and use those categories of purchases as “credit only” as well. For example, the Amex BlueAdvantage card offers 6% back on groceries up to a certain dollar amount each year. That’s a huge discount on the weekly grocery bill and makes it a must-have for families with large grocery orders. Those “key purchase” categories also extend to affinity cards like the GM credit card where the perk itself can be directed to a specific purpose, such as a new car.

KEY TAKEAWAYS

• Many credit cards feature rewards or points programs that make it beneficial to use those cards for particular purchases.
• Credit cards also often feature consumer protections such as warranties, insurance coverage, or fraud protection.
• There may be lots of perks offered by the card issuer, but keep in mind that the money to cover those perks is coming from somewhere—and that's typically from the wallets of unwitting consumers who have failed to pay on time.

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It's more important than ever to learn about credit card security and make it part of your online shopping routine. These credit card security tips can help.

Using a credit card online is one of the great conveniences of modern life — but that convenience can also be costly if you aren’t careful. You shouldn’t assume that the technology you use to shop online couldn’t also be used to make you a victim of fraud just as easily.

Even reputable companies have fallen victim to massive cyber attacks, which means that you need to take appropriate measures to protect your finances yourself. It’s more important than ever to learn about credit card security and make it part of your online shopping routine.

Click on the link to know more about 5 safety tips for your credit cards: https://anynote.co/post/25273_in-this-post-you-will-learn-about-10-safety-tips-pertaining-to-your-credit-card.html

5 credit card safety tips

Here are ten simple steps you can take to keep your credit card information secure when using the card online:

Do a security check

Encryption technology scrambles personal information, such as your credit card number, as it is transmitted from your computer to the merchant’s system.

Know your retailer

It doesn’t take much to start a website; so unless you are familiar with a retailer, take the time to get some background information on them before you provide sensitive financial information like your credit card numbers.

Use a dedicated card for online shopping

You might want to open a credit card account specifically for online use. This would allow you to choose a card with a small credit limit so you can contain the potential for unauthorized charges.

Look for card-issuer protection programs

When looking for a credit card to use online, consider those that offer strong consumer protection programs. You want a card from an issuer that protects its customers from liability for fraudulent charges.

Don’t use your credit card on public computers or wifi networks

It is too easy to tap into public machines and networks for the purpose of stealing information; plus, when you are outside your home, you can’t always tell whether circumstances are secure for you to take out your credit card and start doing business. Shopping on your own device and on your home server is the safest way.

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Fuel prices are constantly fluctuating around the world. you can save on fuel purchases by applying for credit cards from some of the top banks. the best credit card for fuel consumption offers savings on both fuel and other purchases. go through the following section to find out more:

Click on the link to know more about the top 5 best fuel credit cards in india: https://www.launchora.com/story/1658730009-top-5-fuel-credit-cards-in-india-0

1. IndianOil Citi Platinum card

IndianOil and Citibank tied up to provide this Platinum credit card. you will earn four turbo points or TP for every ₹150 spent on purchasing fuel at any IndianOil outlet. moreover, you can earn up to a maximum of 267 points in a single transaction.

here, one TP equals to ₹1 worth of fuel. however, you need a minimum of 250 points to redeem them. additionally, you can enjoy the following credit card benefits:

₹250 worth free TP on successful card activation.

two TP for every ₹150 spent on supermarkets or grocery purchases.

2. IndianOil HDFC Bank credit card

alternatively, you can opt for the HDFC Bank credit card that has tied up with IndianOil as well. you can earn one ‘fuel points’ or FP for ₹150 spent on fuel at any IndianOil outlet. besides, you can earn up to 250 points during the first six months, and up to 150 points post six-month period.

here, one FP equals to ₹0.20 worth of fuel. however, these points expire after two years post their accumulation. other card benefits include:

earn one FP for every ₹150 spent on credit card bill payments and groceries.

get automatically registered for PayZapp on the first transaction of ₹500 within 90 days.

3. HDFC Moneyback credit card

there are many other options for fuel savings when you don’t purchase from IndianOil outlets. HDFC Moneyback credit card earns you two reward points (RP) for every ₹150 spent at any petrol pump.

here, one RP equals to ₹0.20 worth of fuel. however, you need a minimum of 500 points to redeem, and these expire two years from the date of accumulation. accordingly, you can avail the following additional benefits:

get a bonus of 500 RP on sign up.

earn two RP for every ₹150 spent on other purchases.

4. HDFC Bank Business MoneyBack credit card

in comparison to the previous MoneyBack credit card, the business version offers more rewards for higher purchases. you can earn four reward points (RP) for every ₹150 spent on fuel at any outlet.

one RP equals to ₹0.20 worth of fuel. apart from that, you’ll earn the following exclusive benefits:

four RP on every ₹150 spent on online purchases, travel bookings, flight bookings, hotel reservations, and restaurants.

5. ICICI Bank HPCL Coral credit card

the ICICI Bank HPCL credit card is a tie-up between ICICI Bank and the HP fuel stations. here, you can earn both cashback and Payback points on your purchases. cashbacks of 2.5% are applicable for purchasing fuel at an HP outlet. accordingly, you can earn five Payback points for every ₹100 spent.

you can redeem 2,000 Payback points for free fuel worth ₹500. moreover, you can enjoy the following benefits:

five Payback points for every ₹100 spent on purchases.

15% savings on any dining outlets.

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