Ways to Avoid Credit Card Fraud

While credit cards are a dream come true for many people, falling prey to a credit card fraud can be a serious issue. The banks will always alert you about the different types of frauds that might happen on the card. It is always better to know the different tips on how to avoid card fraud. 

https://www.flickr.com/

Some tips are :

• Security software: If you generally access your credit cards online, it is imperative to install security software on your computer. Whenever you visit any site, there might be a malicious website, which might just try to open. However, when you have security software, the site will be blocked by a firewall. This malicious site might just capture your credit card login details, which can be used for any fraudulent transaction.

• Notification to the card issuer: You should always update your latest information with the card issuer. The credit card issuer should have your residential and billing address and phone number. With the introduction of e-bills, it is very important to update your latest email address with the card issuer. If the wrong address is given, your credit card details might just fall into the wrong hands.

• Password and pin protection: With RBI’s regulation for the requirement of pin for all swipe transactions, fraudulent transactions on credit cards at the merchant’s place have dropped. However, you will still need to ensure that your passwords and pin numbers are strong enough. While it might be difficult to remember all of them, it is necessary for you to keep on changing them once every month. Always make long passwords with more than 8 characters. The longer the password, the more secure your credit card will be against fraud.

• Travel decisions: Always inform your bank about your travel plans. In case you are travelling to a foreign country, do let them know. This will ensure that you’re the credit card issuer knows about your whereabouts. Apart from this, they will not block any transaction on the card in case it is a huge amount. Banks block or confirm different foreign currency transactions to safeguard their customers from fraud.

• Receipts of your credit cards: There are many people who throw away their credit card receipts. However, you should store them with you so that you can verify it against your billing statement. If you see any unfamiliar transaction on the statement, you should contact your card issuer immediately to get it checked.

• Avoid phishing mails: No card issuer or bank will send emails to you asking for the credit card details. Hence, if you receive any such mail then delete it at once. These are phishing mails that scammers generally send to get the login details for your credit cards. Never click on any link that you do not recognize. Also, never sign in to any account that was sent to you through a link on email especially by an unknown source. If the link has come from someone you know then cross check with them before proceeding.

All the above tips can surely help you avoid credit cards fraud at all times. However, one of the best tips is to keep your eyes and ears open. Being cautious while handling your card is the best way to avoid any financial fraud.

Read more ...

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.

Sources: https://www.flickr.com/photos/125097691@N06/14576423593/in/photolist-od4YUa-9YQdKi-f21kqC

 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.

Read more ...

Easy Way To Choosing Your First Credit Card

In recent times, things have changed quite a lot. People are constantly striving to improve their quality of life. Whether it’s that latest phone that has been released or the newest gadget on the block; the temptation to buy is always there. Having a credit card makes it easy for you to make purchases when you are low on funds or when you run out of cash just when you need it. It is very important to choose the right card company, because if you end up choosing the wrong one, you might end up with a big hole in your pocket which you might not even see forming. 

Image Source - https://www.flickr.com/photos/76657755@N04/6881501238

It is only natural that sometimes we cannot resist the urge to buy something luxurious; especially if we see it on an irresistible offer during a festive week or month. In such cases credit cards are the perfect solution. If you don’t have one yet, don’t worry; applying for and getting your first credit card is not very difficult.

There are different types of credit cards offered by banks; each one helps cater to ones tastes and expenses in one way or the other. Your lifestyle, the things you spend on most, the place you live in, the company you work for, payments which will mostly be done by your credit card, etc. determine the type of card you will need. Finding the best card for you is made easy by specially developed tools which take into account various aspects of your lifestyle.

If you have already used a credit card before and are reapplying for a different card, you probably already have an idea of what the downside of choosing the wrong credit card is. If you are applying for your first credit card, make sure you keep in mind the main reason you have to be careful while choosing is to avoid paying additional fees, taxes and fines.

Bank Bazaar has a special tool called ‘credit card selector’ which will help you choose the right credit card. Here are a few important steps which will help you in choosing your first credit card:

1. There are a few important details which you have to fill in; these are details which will help you find out which cards you are eligible for. The place you live in (the place where you are applying for the card), the company you work for, your pay scale and a few other such details will help you find what you are eligible for.
2. Once you know what cards you are eligible for, the bank bazaar team looks into the pros and cons of all the cards you are eligible for. This will help you to choose the best options available to you.
3. After you choose a credit card, you can apply for it online. The main part of getting a card is finding which one would best suit your lifestyle and needs. This part is made easy with the Credit Card Selector.

Useful links :
Best Travel Credit Card in India 2014
Best Credit Cards for Balance Transfers in India 2014

Read more ...

Best Credit Cards for Balance Transfers in India 2014

If you have been using credit cards regularly, you may sometimes develop a tendency to over-spend. If over-spending has become your habit, you are certain to exceed your financial capabilities. This may strain your finances and so, you may look for ways to come out of this quagmire. One of the best options that can help you surmount this situation is balance transfer on your credit cards. Balance transfer is a convenient option also because you will get time for arranging funds. Further, the interest will also be much less than that on the original credit card.

 To explain the situation more elaborately, if you have a tendency to over-spend and if you are also in the habit of making only partial payments, you will be forced to pay a very high interest on the unpaid amounts of your credit card bills. Some of the banks may levy 30 per cent per annum or even more on the unpaid amounts. If there are delays in your payments, there will be penalties and interests on interests also. All these things may push your debts up and there are chances of you getting into an irretrievably awkward financial situation.

It is in this context you are advised to use the option of balance transfers so that the interest you pay may get reduced even to 0%. This will continue for a while, may be few months, before which you can arrange the required funds. Another benefit from the option of balance transfer is that almost all the banks that offer this facility levy only a nominal fee for processing your application.

You should opt for the balance transfer scheme only if you think that the cash crunch you are facing is temporary. In other words, you must be certain of arranging funds very soon so that you can rectify your financial situation. Another point is that if you have all along been reckless in your credit card spending, you should jettison that habit and try to be more organized and disciplined in your financial matters.

Financial experts are of the unanimous view that opting for a balance transfer scheme is a very wise decision if the tenure you choose is one year or less than that. This is because the savings you can make on the interests will be substantial. So, this makes this option much better than all other avenues.

To put it differently, balance transfers are nothing but refinancing loans that are extended for clearing credit card dues. In general, those who have two credit cards from two issuing banks are eligible to opt for the balance transfer scheme of either of the banks.

Balance transfer is certainly an excellent scheme but people should not opt for it just with an intention of delaying their credit card payments. The best way to avoid such awkward situations is to have a disciplined approach towards personal finances and avoid over-spending. 

Some of the Best Balance Transfer Schemes In India

SBI Balance Transfer Credit Cards

According to SBI, their scheme makes things easy for those who opt for it. They add that their schemes are the best among the schemes available in the market.

HSBC Balance Transfer Schemes

HSBC says that the interest rate on their balance transfer schemes is very low and so, those who opt for them will benefit immensely. 

Standard Chartered Bank Balance Transfers

Standard Chartered Bank, that is one of the oldest international banks operating in India offers attractive balance transfer schemes for those who want to save on their interest payments.

Kotak Mahindra Bank Schemes

Kotak Mahindra Bank, one of the renowned banks in the private sector, also offers these schemes for the benefit of credit card holders.

CitiBank Schemes

Card holders can opt for CitiBank schemes also for transferring their credit card loans so that they can save substantially on their interest payments.

HDFC Bank Credit Card Balance Transfers

HDFC Bank that has been a pioneer for several schemes is also offering balance transfer schemes to benefit card holders who want to save on their interest payments.

In addition to the above banks, there are several nationalized and private sector banks that offer these schemes. If you visit reputed sites like BankBazaar.com, you can have all the details. You can compare the features of various schemes and make the right choice. You can use the "Credit Card Apply online" feature of the bank you choose and submit your application. You can apply through sites like BankBazaar.com also.

Read more ...