Query About E-Shopping

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krishnandu

krishnandu

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Hi friends, I really don't have any knowledge about credit card and debit card. The only thing I know is Debit Card allows us to purchase using the money that I already have on my a/c. Whereas Credit Card allows us to purchase anything on Credit, Banks pays the amount on our behalf and we've to pay to the bank later, for which bank charges us some percentage.

Till this I'm ok. But my problem is almost all e-shopping accepts Credit Card, not Debit Card. Why so?? I don't want to buy anything on credit. I will never buy anything when I don't have money. I want that when I'll buy something that money should be deducted from my balance. I don't have any problem buying anything using Credit Card but that money should be deducted from my a/c.

I'm asking all these because as I said e-shopping sites and different outlets doesn't supports Debit Card. They only supports Credit Card. Why so?? I don't have any problem buying anything using credit card if bank doesn't charges any percentage for that, I'll pay the amount next day.

Please Help.
 
Any particular site you are looking at ? Most Indian sites accept debit cards :) Ive been using an ICICI bank Visa debit card to make purchases on ebay etc.
 
No I'm not referring to any particular site. But maximum number of sites and outlets accepts only Credit Card.
 
Do you by any chance have the maestro SBI debit card ? because that isnt accepted at most sites . If you have a normal visa/mastercard debit card , it should work .
 
^^Ya I've that Maestro SBI Debit Card. So would it take any charge yearly or monthly for getting VISA/Master Card??

And what about Credit Card?? I mean what if I buy something with Credit Card and pay bank next day?? Then also I'll be charged some percentage for that??
 
^ I don't think credit card have any extra charges other than some of them charging annual fee. You just need to pay your monthly bills on time . Correct me if wrong .
 
Ohh....you mean I'll be charged an fee annually which is charged as for ATM Cards. Other than that CC doesn't have any charge?? If I buy something and pay Bank that amount on time then I'll have no problem. Right??

I would also like to know about the security of CC. In Debit Card there in an PIN, if someone manages to know my Debit Card no. he/she won't able to misuse that if he/she doesn't able to guess the PIN. What about CC??
 
Normally people should try to memorize the 3 digit CVV (Card Verification Value) code at the back of the credit card and then remove the same from the card so that in case you lose it nobody can misuse it. Credit Cards have a payback time of upto 52 days.AN EXAMPLE: For every purchase you make say from january 1 to january 31 you have to pay the credit card bill by 21st -ish of February. Earlier credit card companies used to charge an annual fee of around 500 bucks but now that fees is normally not charged. If you are employed then you can very easily get a credit card but if you are running a small business then you "may" face "some" problem. Again there are different types of Credit cards available gold, silver, platinum, titatnium, signature etc. Most are just gimmicks so you are better off with a basic credit card unless you really want some stuff like fuel surcharge waiver etc. Also try to take the Visa card as mastercard is not that accepted globally. Visa is kind of accepted everywhere. Stay clear of American Express, nobody accepts them.

Sorry for a relatively Long post but I guess this is the minimum and appropriate amount you need to know. Hope this helps.
 
Ya thanks...!! I loved to know everything in detail...!! Thanks for the effort.

I think there is VISA/Master Card etc. there too in Debit Card. What are these?? Standard?? That is accepted globally??
 
Online shopping is safe. Be it taking a service or making payments for a tangible. Once you choose the method and mode they site asks for some basic details (not the i-pin) at this point. Then immediately you are taken to a secure payment gateway, and you can choose to input details using a virtual key board. It is quite secure and affective. The CCV number should never be given out. In fact you can memorize it, and scratch it off the back plastic...! Someone knowing your card #, cannot do much with it.
 
visa/ master and amex these are the ones that process your transaction everytime you use the creditcard the banks issue the credit cards/debit cards on their behalf.
 
Hmm....Thanks..!! :)

So on outlets are they trustable?? I mean can I believe them?? I mean where they swipe the cards??
 
Credit cards are completely safe. And a great boon. It just depends on how you use / misuse it. The fact that it provides an interest free credit period, not to mention offers which keep coming from time to time, only add to the value one can extract by making right use of the card. Pay on time, for fuel try getting a card which doesn't charge surcharge, and opt for a card which has no annual / renewal fees, and you are good to go. Opt for any VISA / Master card preferably from a reputed bank like ICICI primarily because you can reach out to them easily in case of any issues. There are some operators who issue credit cards but don't even have a proper online system for accepting pyments. That seriously sucks.
 
krishnandu said:
Hmm....Thanks..!! :)

So on outlets are they trustable?? I mean can I believe them?? I mean where they swipe the cards??
Click to expand...
Well when they swipe it and punch in the amount, you can stand there and supervise it. Plus the immediate receipt can be verified. Absolutely safe.
 
Actually You need to sign the receipt after they process your payment. You keep one copy and the merchant keeps the other. Make sure you sign on the backstrip of your credit card as soon as you receive it. Dont share your Credit card details with anyone especially over phone, sms, email etc. Regarding the kind of cards VISA/MASTERCARD/AMEX are different vendors while the different kinds such as silver/gold/platinum/titanium/signature etc are variants of VISA/MASTERCARD/AMEX. You can understand it like swift, alto, ritz (i.e. VISA/MASTERCARD/AMEX) and VXI/LXI/LXI(silver/gold/platinum) as the variants. Hope that doesnt confuse you :P.

What I am telling is to get a "Visa Silver/Gold card" i.e. the basic variant of Alto :) and be happy. They are the simplest to begin with. One more piece of suggestion. Keep your credit limit low. Its safer that way.
 
Instead of getting a credit card , ill advise you go to your SBI branch and ask them for a VISA debit card , you will have to fill a small form . They'll send you the card in a week or two . You can use that card online or practically anywhere else .
 
Thanks guys....thanks a lot for clearing all of my confusion...!!

@manu1991 Do they charge anything for that?? I think they charge Rs. 50/- per year for ATM-cum-Debit Card(Maestro). Though it's really ok. Because Rs. 50/- is really nominal for what I'm getting.
 
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