ICICI Credit Card - Changing The Flow of Life

Credit cards are so widely used. Earlier they were just a handful of people who used to use credit cards; but now things are the other way around – there are just a handful of people who still don’t use these cards. People are realizing the convenience of carrying a credit card to make payments when they are out of money of when they are low on cash. Banks offer great benefits on their credit card services, which attracts more and more people to make use of cards. ICICI Credit cards come with some of the best benefits offered in the market.

icici credit card

 ICICI Bank offers their customers some special privileges to make their experience more exciting than it already is. They offer various tailor-made services exclusively to the customers who make use of their credit card services. The special benefits offered are made to suit the lifestyle and spending habits of their customers. They make sure you, the customer, have an experience which you will always remember. Here are a few of the privileges you will be entitled to if you get an ICICI Bank Credit Card -

1. They offer complimentary movie tickets so you can enjoy some of your favorite movies at their expense.
2. You will be entitled to some hand-picked privileges at various hotels and airlines across the world. Also, when you travel, whether on business or on a vacation; you will entitled to entry into exclusive airport lounges because of your ICICI credit card.
3. Enjoy a Golf experience by saving on green fees and also by obtaining additional rounds. All of this can be availed at some of the finest golf clubs in India and Abroad.
4. Experience wellness when you take a break now and then from every day’s mundane tasks. Make use of a number of complementary packages and some very refreshing offers at some of the finest places in your city and elsewhere.
5. Get a complimentary insurance cover. This will help you have peace of mind and enhance your life security.
6. Make use of a lot more offers which will be personalized to meet your lifestyle needs.

There are different types of credit cards offered by ICICI bank; you will certainly find one that fits your needs and lifestyle. Each of the specialized ICICI Bank credit cards comes with a lot of benefits and great experiences; some of which are mentioned right above.

You can find details of all the different types of credit cards on offer compare them according to your preferences and pick the one which you would want to apply for. Once you choose which type of credit card you want, you can apply online for your ICICI credit card. Since most of the work is done online, there would be no need of you to keep going to the bank till the work gets done. Once you apply online, your application will be processed and you will be contacted to bring in the required documents.

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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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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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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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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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ICICI Credit Card - Get Informed Before Using One

ICICI bank is regarded as one of the biggest banks in India as they offer a wide range of investment and money making instruments to the consumers. They are also one of the largest credit card issuers in India as they have cards to meet the requirements of all kinds of users. An ICICI credit card can help you enjoy some exciting offers at really competitive rates. They offer value for money cards, classic cards, gold cards, premium cards, EMI cards, affinity cards and co-branded cards to their customers. Due to the presence of so many credit card schemes, you must get informed before choosing a suitable credit card for yourself. Every customer needs to do a little bit of research regarding the credit card schemes being offered by the bank.

With more than 6,000 ATM branches in India, ICICI bank enjoys a huge network that serves millions of customers in the country. With an ICICI credit card, you get the convenient facility of anytime ready cash. You can even make utility payments and get travel discounts when you swipe these credit cards. ICICI bank even facilitates 24*7 online procedures for the application of credit cards in India. You can make several online transactions, using your card, and even keep your funds secure with a single click. For using this credit card effectively, you’ll have to do a lot of important things that help you stay under the limit.

Go through the major details regarding the different ICICI credit cards available in the market.

Card Variant	Joining Fee (1st year)	Annual Fee (1st year)	Supplementary Card Fee (Annual)
ICICI Bank Sapphiro Credit Card	Rs 6,000	NIL	NIL
ICICI Bank Sapphiro Visa Credit Card	Rs 6,000	NIL	NIL
ICICI Bank Signature Credit Card	Rs 25,000	NIL	NIL

As on 20^th March, 2014

Knowing Your Monthly Spending Limit

Even though the ICIC bank credit cards come with a clear policy regarding your monthly spending limit, it is possible that you overlook the fact due to various reasons. It often happens that people don’t really pay attention towards their spending limit and they are the ones who end up going overboard. This might really prove to be costly for you as the bank charges a certain amount of penalty from the card holders who breach their spending limit.

Try and Get Rid of the Outstanding Balance Each Month

Every month of credit card usage should begin as a fresh chapter for you. For the best results, you should get rid of all the outstanding balance on your credit card as soon as possible. You shouldn’t let the amount get any bigger as you might face a lot of difficulty, while paying the interest on the total accumulated amount.

Know the Additional Fee being Charged by the Bank

ICICI bank charges a nominal amount of the annual fee against the usage of credit cards. Therefore, it is important for a card holder to know about any such charges so that he can be well prepared to reimburse them on time.

Use Your Rewards Wisely

When you use your ICICI credit card, you get plenty of rewards from different shopping outlets and brands in the country. These reward points add up to your account each time you shop using your card. If you’ve got a good number of accumulated points, then you must use them wisely to shop for an air ticket or a movie ticket. There are even some special privileges associated with your card and you must make use of them to your maximum advantage.

Choosing the Right Card

There are various types of credit cards being offered by the ICICI bank. If you’re a frequent shopper, then you could consider going for a shopping credit card and if you are more into flying regularly then you could opt for a travel credit card. It is crucial to choose a card according to your requirements rather than your wants.

The significance of getting informed before purchasing a credit card is immense. As a user, you should do everything that you can to make your experience worthwhile. 

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Apply for Credit Card and Make Payments Conveniently

Vikram was a little hesitant while applying for his first credit card because he knew that even a small mistake could cost him a lot of money. For this reason, he decided to wait and research regarding the best credit cards available in the market. This is actually what a user needs to do as acquiring a credit card can prove to be one of the most intimidating tasks ever. When you apply for credit card, the bank does a complete background check on you and ensures that you have a good credit history. If they find your creditworthiness and credit score to be good, you can get your credit card in no time. In case you fail to fulfill the eligibility requirements, you might have to start afresh which will cost you a lot of time and money.

In actuality, there are various things to know about credit card application and a user needs to ensure that he/she keeps a track of all the essential pointers so that a good credit card can be acquired.

Information and Documents Required

Anyone who wants to apply for credit card needs to provide certain information and documents to the bank so that their application can be processed smoothly. 

• Full name and birth date

• Email address, home address and address proof

• Information on present and previous employers

• Key information on other cards you hold (If any)

• Income proof

• Salary slips

• Bank account statements

• ID proof

The photocopies of all such documents are to be submitted along with the application form. 

These documents must be duly attested by the borrower and any failure in this may result in the application getting rejected.

Comparing the Interest Rates and Special Features

The process of applying for credit cards usually starts when you choose a bank for granting you credit card services. This is also the most significant step that you’ll take because you have to share all your personal details with the bank that offers you a credit card. There are innumerable factors which are to be taken into consideration such as the reward points offered by the bank, the cash back discounts and the processing charges levied by the bank. As a smart user, you must apply for credit card only when you’ve thoroughly gone through the different credit card schemes available in the market. 

Have a closer look at the top features being offered by the banking institutions providing credit cards.

Banking Institution	Special Features
HSBC Credit Card	Domestic flight ticket vouchers, movie ticket vouchers, enhanced rewards program
American Express Credit Card	5X membership points, exclusive dining offers, exceptional reward point programs
ING Vysya Credit Card	No annual fee, 0% fuel surcharge, double reward points for international expenditures
SBI Credit Card	Discount deals on hotels, best airfare deals, car rental deals
ICICI Credit Card	Discount on airfare, exclusive reward points programs

As on 18th March, 2014

Go for a credit card that offers a moderate limit :

Some credit card companies offer the kind of credit history required to get approved for the listed credit cards. If you’re planning to get your first credit card, it is crucial for you to choose a card which offers a moderate purchase limit. Usually, people tend to spend unabashedly when they get credit cards for the first time. Avoiding such a situation will help you in not just choosing the right card but also using it in the right manner.

Don’t take denials too seriously

Anyone who applies for a credit card must stay aware for the impending rejection. So, you should never take such denials seriously, but instead you must focus hard on improving your credit score so that you don’t get rejected the next time. Find a secured credit card which comes along with innumerable reward points and exclusive programs such as free airline and movie tickets.

The process of applying for a credit card can be made much more convenient if you already know the different schemes being offered in the market.

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