HDFC credit card- disapproved

And far worst case is when you fail to pay up and the bank hands over your case to recovery agents(thugs).
I had such an experience few years back.
I happened to procure a VIP vodafone number from a vodafone gallery and the number co-incidentally belonged to a then-absconding ex-cricketer and actor.
The guy had to pay 90K to ICICI and I got 2-3 calls from their recovery agents.
I threatened them of an FIR to escape their rants.
Funny story but it definitely hurted my dignity.
 
what are the benefits of having a credit card assuming u always have money in saving account. i only spend mine on petrol /cheap food/ paytm wallet to get cashback on movie tickets n food etc..
 
rdst_1 said:
Those 3.25/46% interest rates are charged only when you fail to pay the total due amount before the date. One should also know that this 46% is charged on the current outstanding charges and not on just the amount you failed to pay.
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Yeah.. That I'm aware of. I was only surprised to find @Arv90 mentioning those interest rates for EMI conversions.
 
Mr India said:
what are the benefits of having a credit card assuming u always have money in saving account. i only spend mine on petrol /cheap food/ paytm wallet to get cashback on movie tickets n food etc..
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Convenience, isolation from your money accounts, better safety features.
 
In a real emergency, it becomes useful - for paying for hospital, buying tickets and worst case - get cash.

Credit card bill is an unsecured loan, so it is treated on par with personal loans. Since delinquency rates are high, the interest rates are also.

Get one but, always pay on time.
 
ok so shud i serach for govt bank or private for a credit card ? i dnt wanna pay annual fees and other fixed charges. i dnt care if interest rate high as i will pay on time to avoid those
 
Mr India said:
what are the benefits of having a credit card assuming u always have money in saving account. i only spend mine on petrol /cheap food/ paytm wallet to get cashback on movie tickets n food etc..
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Don't forget EMI oppurtunities many ecommerce site have are exclusive to credit cards only. Also they work flawlessly for international transactions and for domestic transaction you may not have to enter pin all the time for less amounts.

also the numbers are embossed rather than printed. the other reasons are fine but this was the primary reason to push me to get a CC. I really like those 3D numbers.
 
max_demon said:
Don't forget EMI oppurtunities many ecommerce site have are exclusive to credit cards only. Also they work flawlessly for international transactions and for domestic transaction you may not have to enter pin all the time for less amounts.

also the numbers are embossed rather than printed. the other reasons are fine but this was the primary reason to push me to get a CC. I really like those 3D numbers.
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i hardly ever buy online and even then its nothing that needs emis. Dont buy from foreign sites too and no pin etc wont them less secure? il have to be always worried of keyloggers getting my cc info. with debit i have to put my OTP that makes it nice. thinking of buying one if it has 5 years no annual fee or something. Have HDFC account that i use to get my salary in.
 
Mr India said:
i hardly ever buy online and even then its nothing that needs emis. Dont buy from foreign sites too and no pin etc wont them less secure? il have to be always worried of keyloggers getting my cc info. with debit i have to put my OTP that makes it nice. thinking of buying one if it has 5 years no annual fee or something. Have HDFC account that i use to get my salary in.
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credit card has excellent fraud protection and chargeback facilities. Our liability is very less in case of credit card fraud.

it can even be charged without the need for PIN and OTP even just by CC number and expiry without need of CVV. so its much simpler to pay using IVR/Call too.
 
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