Best credit cards for shopping in India 2014

Credit cards can be used in a variety of areas, one of which is shopping. Using credit cards for shopping is extremely convenient, as there is no need to carry cash in huge amount. In addition to this, you get a credit period to make the payment. But the biggest benefit is that you can get cash back, discounts and reward points on certain expenses. We have put out a list of the best credit cards for shopping purposes:

Citibank Rewards Card: As the name suggests, this card focuses on rewards. Rewards are high at 10 points for every Rs. 125 spent at partner outlets and 1 point on all other purchases. Points can be redeemed instantly at 700 partner outlets. You also get 2500 points on card activation. You earn bonus points on special occasions, on crossing certain amount of expenses and on renewal. The points earned do not expire as well. Interest rate is 3.25% per month.

 ICICI Bank Platinum Chip Visa Card: Joining fee for this shopping card from ICICI Bank is Rs. 199, which is reversed if spend is more than Rs.2000 in the first 60 days. Annual fee is Rs. 99, which is waived if the card spent is Rs. 50,000 or more in the previous year. The user earns Rs. 2 for every Rs. 100 spent on all retail purchases other than fuel. There is minimum 15% savings on dining at participating restaurants. You also get 2.5% fuel surcharge waiver at HPCL petrol pumps. Overdue interest rate is 3.4% per month.

American Express Payback Credit Card: With an annual fee of Rs. 750 in the first year and Rs. 1500 from second year onwards, this payback card from AMEX doesn’t come cheap. Nevertheless, you can earn 3 payback points for every Rs. 100 spent and multiple points from more than 40 payback partners. This increases the number of points you earn. You can get discount vouchers and bonus payback points when you enrol and spend over Rs. 15000 within the first 60 days respectively. Other than this, there are also offers on dining, movie ticket and travel spend.

ICICI Bank Sapphiro Credit Card: This is an expensive card with joining fee of Rs. 6000 and annual fee of Rs. 3500 (waived if the spend is more than Rs. 5 lakhs). However, the card is great in terms of the benefits it offers across entertainment, wellness, dining and golf. You enjoy both American Express and MasterCard benefits, with payback points of upto 6 points for every Rs. 100 spent. There is a complimentary membership to priority pass programme. You can also enjoy concierge services, 15% savings on dining, 2.5% fuel surcharge waiver and a lot more benefits.

HDFC Bank Titanium Edge Credit Card: This shopping card entails reward points of 2 points for every Rs. 150 spent and 50% more on dining spends. Reward points can be redeemed as cash back. You can enjoy a fuel surcharge waiver across petrol pumps. Interest rate on revolving credit facility is 3.25% per month. Interest free credit facility of upto 50 days is available from the date of purchase.

Citibank Cash Back Card : The cash back card from Citibank gives you 5% cash back on movie ticket purchases, telephone bill payments and utility bill payments made online. For all other spends, you receive 0.5% cash back. The annual fee on the card is Rs. 500. Interest rate is comparatively nominal at 2.5% per month. You also get 20% savings on dining bills and shopping privileges at partner outlets.

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Balance transfer facility in HDFC Bank Credit Card

Imagine a situation where you have a large balance outstanding on your credit card, but are unable to pay the entire amount within the due date. In this case, the bank will levy a huge interest charge on the unpaid amount. The interest rate charged by the bank is exorbitant, to say the least. It is therefore desirable that one does not get into this situation. But if it is impossible to pay, then there is another way out. It is called ‘Balance Transfer’, where you can transfer the outstanding balance on your credit card to another bank’s new or existing credit card.

How does the customer and the banks benefit from Balance Transfer?

The customer saves on the interest cost he has to pay. Say for example, he is required to pay Rs.40,000 on his credit card, but can manage to pay only Rs.10,000 within the due date. He will be charged a very high interest (in some cases, even 3.6% per month) on the remaining Rs. 30,000. When he transfers the balance, he can either get an interest free credit period on this amount or will have to pay a preferential interest rate, which is much lower (less than half in most cases) than normal interest rates on the card. The interest free period or the concessional interest period varies from bank to bank, but it is generally not more than 6 months. The bank to which he transfers the balance benefits as it receives a new customer. The bank from which he transferred loses the customer, but the outstanding amount is no longer unpaid. The entire amount is paid by the bank to which the balance is transferred. It is therefore a win-win arrangement.

HDFC Bank’s Balance Transfer Facility

HDFC Bank offers Balance Transfer facility to customers on its credit cards. This means an individual can transfer an outstanding balance from any card in any bank to an HDFC credit card account. The individual may or may not have this card. If it is a new card to which he is applying, he will have to carry out card opening formalities before transferring the balance. On the other hand, if he wishes to transfer the amount to a HDFC credit card which he already possesses, the process is simpler.

The transfer amount should be a minimum of Rs.2,500 and maximum of Rs. 1 lakh. The amount however cannot be more than the outstanding balance on the other card account. The eligibility criteria vary from customer to customer. Banks check the number of times you transfer the balance on your card. Too many balance transfers will lead to rejection, as it is seen as a way to enjoy interest free credit.

HDFC Bank only allows balance transfer from non-HDFC Bank credit card accounts. It is also not applicable from accounts with an overdue status or where the credit limit has been exceeded. The bank will only pay for the outstanding balance and will not be liable for any new charges, interest or overdue payments. HDFC Bank will pay a cheque or DD favoring the other card issuer while taking over the balance amount.

The bank charges 2% of the Balance Transfer amount or Rs.250, whichever is higher as the Balance Transfer processing charges. Customers can enjoy the preferential interest rate on the amount transferred for 3 months only. Beyond this, normal interest rates would apply.

There is a facility to request for transfer from different card accounts. However, this request should be made across cards at the same time and not at different points in time.

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Check out the Best Credit Cards in India 2014

The world has been swept by the plastic money wave, and India is no different. Although the use of credit cards in India is much lower than other developed countries, there are several options to choose from various leading banks in the country. There are cards catering to specific needs like shopping, travel, entertainment, etc. and also catering to specific individuals like salaried class, women, doctors, etc. Here we list the best credit cards in India across different categories:

Citibank Rewards Card: A rewards-focused card, the rewards earned are high at 10 points for every Rs. 125 spent at partner outlets. Beyond this, you can earn 1 point on all other purchases. There is no joining fee, but annual fee is Rs. 1000. This can be waived if total annual spend exceeds Rs. 30000. You earn bonus points on special occasions, on crossing certain amount of expenses and on renewal. The points earned do not expire. Interest rate is 3.25% per month.

HDFC Bank Titanium Times Card: You can earn reward points of 2 points for every Rs. 150 spent. The joining fee and annual fee on this card is Rs. 500 each. There are welcome benefits in the form of gift vouchers across shopping, apparel and dining and discount offers on movie and dining and fuel surcharge waiver. Interest rate is at 3.15% per month. Interest free credit facility of upto 50 days is available from the date of purchase.

Corporation Bank CorpBank Gold Card: At an interest rate of 2.25% per month, this card scores well on account of the cost. There is no joining fee or renewal fee. You should however be a customer of the bank for atleast 3 months with a minimum net annual income of Rs. 2 lakhs. The free credit period is upto 50 days. The card gives you reward points of 1 point for every Rs. 150 spent.

SBI Platinum Card: SBI’s Platinum card is expensive with a joining fee of Rs. 2,999 and annual fee of Rs. 2,999. However, reward points earned are high at 10 points for every Rs.100 spent on dining, department stores and international spends and 2 points for every Rs. 100 spent on other transactions. There are a whole host of other benefits like welcome gift worth Rs. 3000, spend rewards worth Rs.3000, Rs. 3000 worth anniversary gift, airport lounge access, specialized concierge facilities for various services and fuel surcharge waiver. Interest rate is 3.35% per month.

American Express Payback Credit Card: This card is good for shopping purposes and focuses on rewarding payback points. You can get 3 payback points for every Rs. 100 spent on behalf of American Express plus multiple points from more than 40 payback partners, thus giving you extra earning benefit. You can also get welcome benefits in the form of discount vouchers and bonus payback points depending on your expenses in the initial 60 days. There are offers on dining, movie ticket and travel spend as well. However, the annual fee is Rs. 750 in the first year and Rs. 1500 from second year onwards.

ICICI Bank Instant Titanium Credit Card: This card is issued against your fixed deposit and can be got instantly. The card gives you Rs. 200 worth movie tickets every month. You also get minimum 15% discount on dining through the bank’s Culinary Treats program. You can earn 3 payback points for every Rs. 100 spent and also enjoy a fuel surcharge waiver in select HPCL petrol pumps. Interest rate is comparatively low at 2.49% per month.

For more information visit the given link hope that helps you -  http://www.bankbazaar.com/credit-card.html

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Apply for Indusind bank credit card online in just a few minutes

Indusind Bank, one of India’s upcoming private sector banks is gaining tremendous popularity for its banking operations including loans and credit cards. Indusind Bank is rated IND A1+ for short term debt instruments by India Ratings and Research along with various creditable rating by CRISIL India. Unlike a number of public sector banks notorious for their slow workflow mechanism, Indusind bank offers swift working operations. Indusind bank offers credit cards for both salaried as well as self employed individuals. As Indusind bank understands the significance of time, the bank allows credit card applications online offering quick approval and processing time. Indusind Bank has collaborated with financial marketplace BankBazaar.com offering credit card solutions with instant eligibility check and card approval. 

Indusind bank offers two main types of popular credit cards mainly Indusind Bank Platinum Aura Credit card and Indusind Bank Platinum credit cards. Each of these is well designed credit cards catering to the needs of various sections of society. Applying for any of the Indusind Bank credit card has been made simple with online application process facilitated by BankBazaar.com.

Advantages of Indusind Bank Credit Cards:

Indusind Bank offers various credit card options catering to the needs of a wide section of society. From co-branded credit cards to travel centric credit cards, Indusind bank offers a host of customized cards for user convenience. The main advantages of Indusind credit cards include a quick application and processing time which is much faster than most of the rival private banks as well as public sector banks. Credit cards from Indusind bank require minimal documentation and come with a high purchase limit.

Features of Indusind Bank Platinum Credit Card:

Indusind Bank platinum series credit cards come with a host of features and benefits. Indusind Bank platinum credit cards offer 4x reward points for selected merchant categories for both online and store shopping. The reward points accumulated of Indusind Bank platinum credit cards can be exchanged for outstanding cash credit.

Online Application for Indusind Bank Credit Card:

Applying for an Indusind Bank credit card online has been made simple by BankBazaar.com credit card application tool. A user simply needs to fill the form with basic details and submit the same along with his or her contact details. BankBazaar.com's credit card finder tool then checks for the best credit card deal and provides assistance in completing the application form. BankBazaar.com offers instant approval and the details are electronically sent to Indusind Bank credit card division. The bank directly gets in touch with the card applicant within one working day to facilitate the card process after submission of relevant documents. BankBazaar.com does not charge the users any fee for online submission of credit card application and never shares user information with any third party.

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Citibank titanium cash back credit card offers

Citibank India is one of the most popular private sector banks operating in the country. Citibank offers a number of credit card options catering to the needs of wide sections of society. From Travel centric credit cards to fuel related card, lifestyle credit cards and shopping oriented credit cards, Citibank offers a credit card for just about each segment of the society.

Along with various rewards and offers, Citibank credit cards come with a host of added benefits like insurance benefits including smart cash and travel insurance benefits. Citibank titanium cash back credit card is one of the most popular credit cards from the house of Citibank offering various exclusive features along with the common features common with other variants of Citibank credit cards. Citibank titanium cash back credit card also offers various time centric special features making it one of the most highly sought out credit card scheme from Citibank.

Special Features of Citibank titanium cash back credit card:

Citibank titanium cash back credit card offers a host of special features for its subscribers. The interest rate offered by Citibank titanium cash back credit card is the lowest in its class at 2.5% per month. Citibank titanium cash back credit card has a specially drafted reward program allowing users to earn reward points of each and every purchase irrespective of the spending across all products and services. Weekend spending using the credit card offer for a 5 times cash reward point accumulation making the card ideal for families seeking to shop of weekends. Cash back redemption is also allowed on travel bookings. The annual fee charged for Citibank titanium cash back credit card is Rs. 500 while the card offers complimentary tickets for two persons for domestic travel.

Exclusive Features Offered by Citibank titanium cash back credit card:

Citibank titanium cash back credit card offers two multiple special features that make the card stand out amid other credit cards. It offers a wide range of cash rewards advantage allowing users to redeem rewards points for a wide range of goodies and gifts in cash and kind. Citibank titanium cash back credit card allows users the chance to earn 1 reward point for every purchase of Rs. 200 on weekdays.

The reward point for weekend purchase gets multiplied by 5 and the same quantum of money when spent over the weekends fetch 5 reward points. The reward points can be redeemed for cash back against the outstanding balance as per your credit card statement. The users have the options to choose other exciting gifts listed in the Citibank reward catalog with instant redemption and free home delivery of gifts. Furthermore Citibank titanium cash back credit card reward point redemption allows shopping discounts at various online websites including indiaplaza.com

Charges for Citibank titanium cash back credit card:

Citibank titanium cash back credit card comes with a joining fee and an annual fee to the tune of Rs. 500. The boarding interest rate charged by the card is 2.50% per month or 30% annual. The interest rate is changed periodically based on the spending, payback and individual credit card utilization pattern. Citibank titanium cash back credit card charges a cash advance fee of 2% subject to a minimum cash withdrawal of Rs 300 an US$ 7.5 in case of international ATMs. It also charges petrol transaction charges to the tune of 2.5% of the amount of the credit limit subject to a minimum of Rs. 500.

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ICICI Bank Credit Card Special Offers

As the world moves ahead on the technological pathway and become more aware of the latest developments, how can the daily lives be left untouched by the impact of the ongoing change? One of the classiest examples of this change is the increasing popularity of using plastic money instead of carrying bales of cash to the market. A credit card not only makes it easy and secure for users to carry on minor as well as major transactions conveniently, but also presents them with a whole host of rewards and promotional benefits, thereby facilitating additional savings.

Image credit : www.icicibank.com

Among all the different banks and financial institutions that offer credit cards to people from all different walks of life, ICICI Bank always emerges to be the top choice of an average Indian customer. Being the largest issuer of credit cards and related products in India, ICICI bank offers a wide range of plastic money instruments to its customers, which are specially designed while keeping in mind the flexibility and convenience of managing the finances in mind.

ICICI credit card comes with a whole host of benefits and offers, which are provided to match personal lifestyle and spending needs of different types of customers. As of now, with the aim of expanding its customer base and providing more streamlined credit card services to the customers, ICICI banks offers a great deal of special offers with all the varied cards in its impressive line-up.

HPCL ICICI Coral Credit Card

In a special offer, which the bank extended from March 31, 2014 to May 31, 2014, ICICI bank is offering its coral platinum and titanium credit card to new customers. Under this special scheme, the bank will offer bonus 1000 payback points upon card activation and full waiver of joining and annual fees to the customers who apply for this ICICI Bank credit card online. Apart from this, the users are entitled to a 5% savings on fuel purchases within a billing cycle and 5 payback points on every Rs.100 spent on fuel at any HPCL fuel stations all across the nation.

DMRC Smart Card

In its latest scheme, focused on Delhi based customers, ICICI bank has joined hands with the Delhi Metro Rail Corporation. The DMRC Smart card is a prepaid ICICI bank credit card that can be used for paying Delhi metro fares. The customers can set up a top up amount which serves as a stand-up instruction for the auto top-up facility. In this facility, the top up amount is automatically credited to the DMRC smart card from the ICICI bank credit card once the amount reaches its threshold limit. This smart card is linked to the existing credit card owned by the customer and can help customers avoid the hassle of standing in long queues for having balance credited to their metro card. As of now, all stations on Line 6, Line 5 and Line 2 extension provide services for enabling auto top-up, however stations on Line 1, Line 3 and Line 4 are enabled with auto top-up.

These are some latest offers and schemes provided by the ICICI bank for its existing as well as new credit card customers. One just needs to assess the personal needs and wants and make the most of these offers.  

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