What are the benefits of Axis bank credit card ?

Axis Bank offers a wide range of credit card options. Having a credit card is so convenient. Making payments and purchases becomes much easier and faster when you pay with your card. This saves you the burden of carrying huge amounts of cash with you when you shop or travel. The different types of credit cards offered by Axis Bank are specially cut out to meet the needs of you, the customer. Depending on your reasons for applying for a card, your affordability and other details, you can choose a card that would best meet your needs.

Source: http://www.axisbank.com/images/My_zone_header_Banner.jpg

When you apply for a credit card from Axis Bank, you get to make use of a whole lot of benefits such as payback points, rewards, cash benefits and other exclusive features. Among the large number of options available to you when you choose to apply for a credit card, the benefits you receive from an Axis Bank Card stand out from the rest. Here are some of the main benefits of Axis Bank Credit card:

1. Get cash back and discounts on ticket bookings: when you use your Axis Bank credit card to book flight tickets, bus or train tickets online; you receive a part of the base fair as a ‘cash back’ reward or you receive a discount on your booking amount. The amount or the percentage of cash you receive in return will depend on the type of Axis Bank credit card which you choose. There are platinum cards, My cards, Co-branded and other credit cards.
2. High level of security. One of the main concerns of the modern methods of banking is security and this is something Axis pays close attention to. Your Credit cards from Axis Bank will be pin and chip protected. This gives you additional protection against card frauds.
3. Enjoy discounts while dining. Axis Bank offer their credit card holders special discounts at a wide range of restaurants. Depending on the type of credit card you choose, you will be eligible for up to 33% discount on dining.
4. When you have an Axis bank credit card, you can easily convert large purchases to EMI. If a cash transaction costs more INR 2500 you can convert it into an Equated Monthly Installment by simply contacting the bank regarding the same.
5. With your Axis Bank Credit card, you will also receive exclusive access to VIP lounges in domestic and international terminals in major cities across India and the world.
6. One of the benefits of the Axis Bank’s credit cards is the ‘eDGE loyalty rewards program’ where in, you collect points in your rewards account every time you use your card to make a payment or purchase. The points you collect in your eDGE loyalty account can be redeemed to receive over 500 reward items. For ever INR 200 spent, you gather between 2 to 12 reward points, according to the type of credit card you choose. The number of points you earn are different all the types of credit cards offered by Axis.

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Benefits of Using Axis Bank Credit Card

Credit cards, in the recent years, have brought a revolutionary change in the face of business. With the entry of these cards, consumers’ spending habits have drastically changed, giving them an easy access to money. Credit cards have become a very useful tool for building credit for various purposes, when used responsibly. Banks are using lucrative offers to attract the customers to tap the growth opportunities in this sector.

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 Axis Bank Credit Cards

Axis bank, which is India’s third largest private bank, offers a range of financial services for all the segments, age and income profiles. Axis Bank Credit Card is one card that suits all your needs and comfort and offers exciting benefits and rewards for its loyal customers. The various benefits of axis bank credit cards are:

• Global Acceptance: Axis bank credit cards are globally accepted at over 23 million merchant establishments world-wide which helps the customers to buy in any currency across the world and pay later in rupees.
• Mobile Alerts: Customers using the axis bank credit card have the option to subscribe to enhanced mobile alerts and receive regular updates of their card account.
• PlusPoints Rewards: PlusPoints are a great way to earn rewards on every transaction you make using axis bank credit card. These points, when accumulated can be redeemed for various offers launched by the bank. Usually, one earns 2 points for Rs 100 spent on international transactions and 1 point for Rs.100 spent on domestic transactions.
• Exclusive Benefits: Each credit card is linked with their exclusive benefits to make it more lucrative for that segment of people. For e.g., fuel surcharge refund of 2.5%, complimentary movie tickets, discount on shopping, travel, etc.
• Revolve Facility: Axis Bank also offers extended credit facility to its premium customers owning their Signature Credit Card. This facility gives the customers an option to buy any product and pay in easy installments to the bank.
• Interest Free Period: Axis bank credit card holders are also entitled to up to 50 days free credit period on their purchases without any finance charge being levied to their card account.
• Auto Debit Facility: This facility gives the customers an added convenience of paying their monthly card bills directly through the Axis bank account.
• Balance Transfer: Balance transfer facility helps you transfer any balance from other cards to Axis bank credit card at a special rate.
• EMI Facility: By using an axis bank credit card, customers’ have the convenience of paying for high value transactions in easy EMIs.
• Cash Advance Facility: Axis bank gives privileges to its premium customers to withdraw cash (30% of the credit limit) from any ATM around the world.
• eShop Card: This card is an additional virtual card given to the card holders for secured online shopping as in this scenario, they will not be required to give their credit card details.

As an Axis bank credit card holder, one not only benefits from the credit facility, but also enjoys the best of all worlds as it offers exciting deals and schemes on all the categories making the experience more valuable. Additionally, this bank has also tie-ups and participates with various outlets to grab the best deals for their customers.

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Bad Credit Cards - 10 Things You Need To Know

Bad Credit Cards : 

A credit card can be a blessing in disguise when you have no cash in your pocket. It is also a convenient way to carry money and is much easier to make payments with credit cards. But there are instances when credit cards can become bad for you. In fact, if not used with proper care, a credit card can ruin your finances completely. Here are 10 things you should know to recognize that your credit card is bad:

1. When you do not pay your bills on time: The first rule of using credit cards is to pay before the due date. If you fail to do this, you will be charged an exorbitant interest on the unpaid amount, which can be as high as 3.5% per month. Continuing this will not only entangle you in a financial mess, but it will also harm your credit score significantly. Further, late payment fees can harm you as well.
2. When you exceed your credit limit: Banks set the credit limit based on your credit standing, spend patterns etc. It is advisable not to spend more than 75% of the credit limit. If the credit limit is breached, it will again harm your credit score. Some banks stop usage of card when this happens.
3. When you regularly pay only the minimum amount payable: Paying the minimum amount can allow you to continue using the card. But remember that the unpaid amount goes into revolving credit and attracts interest. This ballooning of credit can definitely land you in trouble.
4. When you spend excessively albeit within the credit limit: Some credit card users take care not to exceed the credit limit, but do not think much about spending prudently. Remember that spending too close to the credit limit can also harm your credit score. Further, when you spend excessively, your finances can be greatly harmed, because at the end of the day, you will be the one to pay the bill.
5. When you use it to regularly withdraw cash: Credit cards allow you to withdraw cash. This feature should be used in an emergency. However, when this is made a habit, it can burn a hole in your pocket, as the charges for cash withdrawal are quite steep.
6. When you use your card only to get reward points: Sometimes, one uses the credit card only to gather reward points. If this becomes a habit, then you may end up spending excessively on unnecessary things.
7. When you use multiple cards: Using multiple cards can again land you in trouble. You may end up paying bills throughout the month as the payment becomes due for the different cards on different dates.
8. When you spend excessively while traveling abroad: Almost all major credit cards allow you to use them when you are traveling abroad. While this looks convenient, remember to check on the charges for such usage. Also don’t forget the exchange rate differential. It may be less expensive to use other payment modes when traveling abroad like using prepaid cards or travelers cheques.
9. When you are not careful about your CVV and PIN: Carelessness on the CVV or PIN of your credit card can again make your credit card ‘bad’ for you. This means you are giving an opportunity for someone else to use your card. This is disastrous and therefore you must be extremely careful of such passwords.
10. When you constantly transfer your balance to new cards: Some people transfer their unpaid balance to a new card or another existing card, if they are unable to pay it. You may save on the interest temporarily, but the interest will start to accrue after the initial period. Further, you will also have to pay balance transfer charges.

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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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Will a Balance Transfer on a Credit Card Help You Save Money ?

Since the credit card boom in India, shopping has been relatively easy for the middle class population. What people forget is the ‘buy now pay later’ option that a credit card provides, makes them pay it for a long time. They ignore the fact that credit card loans are probably the most expensive loan they can possibly incur (thanks to the spending power they get). It gets extremely difficult to make timely payments and coping up with the heavy interest.

The Vicious Circle of Credit Card Payments

Most people just pay the minimum due balance on the credit card along with the interest. What they don’t realize is paying the minimum due doesn’t help their credit situation at all. Rather, the outstanding amount stays as it is and if they still keep using your card for random purchases, the amount just keeps on getting intensified. One fine day they realize that they owe a huge sum to the credit card company and don’t have the means to pay it off.

Yes, the truth is credit card payments are a vicious circle, which entangles your finances in a bad way. Now if you see yourself in this position where the debt is going higher and the minimum payments are not helping in reducing the amount, what would be your first line of defense? Believe it or not, there are a lot many who take a personal loan or borrow money to pay off the credit card. What they are doing here is in fact incurring more debt.

The Role of Balance Transfer to pay Credit Card Bills

So how does one come out of this financial fiasco of credit card debt? Well the fact is there are some easy ways that can help in avoiding the high rate of interest and concentrating on knocking off the principle balance. But for that you need another credit card, with a balance transfer facility. Well of course it may sound a little lame when we say this, because superficially it looks like you are paying one credit card and still incurring debt on another. But the fact is balance transfer credit cards come with hordes of options that help you save money.

Here is how you can save some money for yourself in the bargain and manage your credit card fiasco.

• As long as the outstanding amount on your credit card is under 80% of the new card limit, you can do a balance transfer from one card to another.
• There may be a small processing fee in some case (usually 2% or less), while some other offer free balance transfers.
• Once you transfer your balance, your outstanding credit card gets paid off. Of course you have to pay the new card but most of these cards come with a 0% interest for three months. So whatever you pay on these cards will go purely towards the principle amount
• Some companies don’t offer a 0% for 3 months but a 1.5% for six months, which is a fair deal as opposed to paying the high APR on your other credit card.
• So now instead of struggling with interest + minimum due, you are purely paying the principle amount, which will be much easy to manage as opposed to the previous situation.

This option will work best for those who can pay lump-sums towards the new balance transfer card because only the first 3 months are at 0% interest (in some cases 1.5% for 6 months). The bottom line, you should be able to pay the entire outstanding amount on the new credit card within the stipulated period or you may get entangled again in the interest and credit debt web.

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