Can merchants charge Service Charges on Credit Cards ?

Hi, I know there was some article on jagoinvestor that the merchants cannot take service charge on credit card payment. Can someone confirm if this is illegal and any action can be taken against the erring merchants, or any complaint can be made? In case a merchant is asking for service charges, are there any […]

READ MORE

Can bank charge Credit Card Transaction Service Charges ?

Hi, I’m being charged 2.5% service charge for using a credit card. There was an article on this forum, but, the link mentions only about debit cards (http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=8461&Mode=0). Is there any official notification by the RBI on this – specifically – service charges on credit card transactions.? What are my options here, apart from paying […]

READ MORE

What is the meaning of statement “Fuel Surcharge Waiver capped at Rs. 250 every billing cycle”

I am newbie in credit card. Recently I applied for HDFC credit card and received HDFC platinum edge credit card. I understood all the charges levied by the bank. But as my card is cash back card I am unable to understand benefits of this credit card. As I fill As I fill fuel frequently, […]

READ MORE

Settling my Credit card and my limit question ?

I used a credit card a long back and i was a defaulter. Recently I took my cibil report. In that report my total outstanding amount is showing as Rs.423609/- where as my card limit is only Rs.44000/-. How can i settle my account ?

READ MORE

Stolen credit card was misused – How to tackle this issue

Hi, Someone stole my purse in 2009 & I had 2 credit cards in it(SBI & ICICI). I called the customer care of both banks & asked them to cancel these cards. While ICICI cancelled my card immediately. But SBI card didn’t cancelled immediately  due to which around Rs.16,000 was misused. After that SBI customer […]

READ MORE

How long credit card company charge interest after stopping payment of EMI on attached personal loan

Is there any fixed time they charge credit card interest rate usually 3.35% and service tax or it charge continuously as long as the loan outstanding is pending. And if the account is settled, will they charge any interest on outstanding balance after payment of settled amount? can we show this settled amount in income […]

READ MORE

Are secured credit card considered as unsecured by CIBIL ?

I have two credit cards against fixed deposit. Is is considered as secured or as unsecured personal loan by cibil?. Will i loose cibil score if i utalize it to the fullest?sorry if the question was asked earlier

READ MORE

How to make sure your Name is not in CIBIL ?

Sir/Madam, I’ve used a credit card in 2008. But recently i came to know that that was not closed. My name is appearing in the cibil. Now i want to close this issue. They are given some settlement amount. Would you suggest me that do i pay the stllement amount or i need to pay […]

READ MORE

Credit card transactions above Rs 2 lacs – Should I worry for getting Income Tax notice ?

Dear sir, I am not too much use too with credit card but unfortunately in this year, I have transaction above 2 lacs with my credit card with doing shopping etc. I have three different savings accounts, from which with one account is a salary account and is controlled by my family, but with the other […]

READ MORE

How much time does it take to reach my CIBIL score to 750 ?

I previously applied for credit card 3/4 times and got rejected due to no credit score in CIBIL. Now I have got a credit card against a fixed deposit in SBI. I am using it for 3/4 months now. My avg monthly transaction is around Rs 3000. I need to apply for a Home loan […]

READ MORE

FREE Financial Health Checkup

Take up a detailed 25 questions financial health checkup to find out how much you score out of 100?

Archives