Page 6 - Credit Card

Credit card spending growth declines on RBI gaze, stress build-up

In FY24, credit card spending grew by 27.8 per cent; in FY23, spending was up 47.5 per cent; and it was 54.1 per cent in FY22

Credit card delinquencies rise even as retail credit growth moderates

Balance-level delinquencies in credit card segment stood at 1.8 per cent in Q1FY25 - highest among all other credit divisions

Higher credit costs may impact growth of SBI Cards and Payment Services

SBI Cards and Payment Services, the only listed pure-play card issuer, saw weak growth at 3.5 per cent Y-o-Y in July

How debit, credit card insurance can save you after fraud, accidents & more

Card fraud can seem like something that only happens to others until it happens to you. This is why credit and debit card insurance becomes vital

RBI rejects Canara Bank's bid for credit card subsidiary amid concerns

The decision by the Reserve Bank of India comes amid increasing concerns over the growing volume of unsecured loans in the banking sector

RBL Bank aims to grow in credit cards, launches offering with Indian Oil

Private sector lender RBL Bank is aiming to grow its credit card portfolio "moderately" and focus on other aspects like cross-selling to customers, a senior official has said. If the industry grows at 20-25 per cent, the lender would like to increase its credit card outstanding by up to 15 per cent, its business head for credit cards Bikram Yadav said. "We would grow moderately in this segment, and we'll focus on internal unit economics and customer engagements and deeper cross-sell with them," Yadav added. Yadav, who was speaking after the launch of a dedicated offering in association with the largest oil marketing company Indian Oil Corporation, christened 'Xtra Credit Card', added that the other factors are more important than growth for the bank and its focus is on "reasonable" returns on the capital it deploys. It can be noted that the credit card segment has been under the spotlight because of the RBI's discomfort around the riskier unsecured segment growing fast. "The RBI i

RuPay, Mastercard, Visa – Choose Your Own Credit Card Network!

From September 6, credit cardholders in India get to choose their preferred card network. Watch the video to find out how this change affects you.

Visa or MasterCard? From tomorrow, you can choose your credit card network

The RBI issued a circular on March 6 prohibiting banks and non-bank card issuers from entering into exclusive agreements with card networks

New credit card rules & rewards this September: What you need to know

September brings new credit card rules: increased RuPay rewards, HDFC caps, IDFC payment changes, and RBI's network choice mandate. Here's all you need to know

SBI Card loses credit card market share in July; InCred retains 'Reduce'

InCred's target price translates into 30.7 per cent downside in the share price from previous close of Rs 721.15 per share.

Credit cards issuance in country increases by 16% to 104.6 mn in July

Credit card spending in July 2024 increased by 19 per cent Y-o-Y to Rs 1.72 trn in July

International credit card use up 63% after Covid-19, overtakes debit cards

Data from the RBI shows international credit card spending rose 63 per cent from December 2022 to July 2024, while PPIs grew 53 per cent and debit card transactions increased by just 8 per cent

HDFC, IDFC FIRST, ICICI Bank credit card-related changes: Details here

Starting from September 1, 2024, there will be a cap of 2,000 reward points per calendar month on utility transactions for HDFC Bank credit card users

Rule changes for HDFC, ICICI, IDFC FIRST Bank cards: Check new terms

Several major banks are implementing changes to their credit and debit card rules starting August 1

IDFC FIRST Bank revises credit card payment terms: Check details

The changes are effective September 2024, as per the IDFC FIRST Bank website

ZET app's new secured credit card aims to boost CIBIL scores

Secured credit card comes against a FD of minimum Rs 5,000 ranging to Rs 25,000 with 90 per cent of the amount as the credit limit

RBI slaps fine of Rs 2.4 crore on Visa for unauthorised payment method

The central bank has aimed to tighten scrutiny of the processes followed by financial technology, or fintech, companies

Net credit card additions down to 2 mn due to seasonal, regulatory factors

Net credit card additions during the April-June quarter of FY25 is 48% lower against 3.9 mn in the December-March quarter of FY24

Paying Income Tax with credit card: Benefits, disadvantages and process

The method allows the tax department to process your payment promptly, potentially updating your tax records faster

GenZ prefers personal loans; millennials go for credit cards, shows data

Out of the total loans disbursed, digital lending has increased from 1.8 per cent in financial year 2022 (FY22) to 2.5 per cent in FY24