Credit Cards

Credit utilisation ratio should remain below 30%

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Half of India's first-time credit card users are from Gen Z and 46 per cent are from semi-urban and rural markets, reflecting changing patterns in formal credit adoption

Credit card penetration in the country has been low when compared to even developing countries despite a variety of tailwinds like improving delinquency levels, a top official at Transunion Cibil said on Wednesday. The product's contribution to a wider credit ecosystem has gone down, with only 8 per cent of new additions being new to credit as against 26 per cent in the year-ago period, Bhavesh Jain, the Managing Director and Chief Executive of the company, told reporters. India has 5.2 crore people having credit cards, which is just 25 per cent of the overall credit active population of about 25 crore people, he said, adding that developed and developing countries have a higher proportion of people using credit cards. A white paper prepared by the credit information company said the same proportion stands at 62 per cent in Columbia, 98 per cent in Hong Kong, 81 per cent in the USA and 70 per cent in the UK. Over the years, credit cards -- which are majorly used for consumption ...

SBI Card added the highest number of new credit cards in May as the industry added nearly one million cards, while credit card spending rose to Rs 2.02 trillion

Keep utilisation below 30% of your total limit: That is the simplest way to falling into trouble

Financial products must be used in a disciplined way as they weigh on credit score and loan eligibility

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Bank to strengthen retail franchise and Tier-1 presence by acquiring seasoned credit card portfolio from Standard Chartered amid broader retail strategy shift

UK-headquartered Standard Chartered Bank, as part of its retail business strategy, had earlier said it would not push standalone credit cards in India

Travel is becoming the biggest spending category for affluent Indians, with luxury consumers choosing experiences over retail as wealth and discretionary spending rise

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The Karnataka State Commission questioned why bank had failed to close the card in 2010, and had raised a demand after seven years

Experian report shows strong rebound in secured lending, while unsecured loans recover from last year's decline; average ticket sizes rise across segments

Credit card spending eased to Rs 2 trillion in January after festive highs, though outstanding cards rose to 116.65 million as issuers recalibrated amid tighter norms and shifting customer profiles

The cards, available in two variants - IndiGo Axis Bank Credit Card and IndiGo Axis Bank Premium Credit Card, have been thoughtfully crafted to reward spenders through IndiGo's loyalty program.

Emkay Global Financial Services highlighted that while overall CIF and assets under management (AUM) growth remained soft, mirroring broader industry trends, spending momentum was robust.

Users of premium card face a sharp dip in loyalty value as company slashes accelerated rewards on its popular lifestyle voucher portal

Credit card debt has already declined as a share of the overall ABS market, making up 9 per cent of total issuance compared with 36 per cent at its peak in 2009, according to data from Morgan Stanley

The US president said the proposed cap, set to begin on January 20, would stop excessive charges by card issuers, though details on enforcement and industry compliance remain unclear