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POSTED BY ON May 11, 2013 9:20 pm COMMENTS (6)
Hi Friends,
Till date I have been avoiding credit cards in my life.Now due to some unforeseen reasons I have been forced to get one..so can you folks pour in your inputs to choose the right one in the market.Currently I have sal.acc with HDFC and SBI related home loan accounts.Kindly suggest me on a) What are all the factors that I have to consider ? b) which brand is user – friendly and geniune relatively to opt for?
Thanks in advance…
Cheers..
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Dear Raghav, let me try to answer your queries.
a) Can you kindly brief me on the below statement of yours:
“for a simple use, SBI card ‘ll be enough & actually more beneficial if your home loan is Max Gain”
As your loan ios max gain, you ‘ll try to keep your money maximum time in to MG account. Now in case of HDFC card, if you initiate online payment from SBI online portal, it ‘ll charge you 5 Rs. per transaction doen for payment of HDFC CC bill. Whereas in case of SBI CC, there ‘ll be no charge for bills payment (CC bill payment).
b) For max gain home loan sbi, I have given ECS from my hdfc sal account…so want to know whether I will be getting any credit or debit card for this maxgain? or have to open a new account for this with SBI?
You can demand both. CC as well as Debit card. No new account is needed.
Thanks
Ashal
Ashal,
Thanks for your responses.Kindly clarify me on the below too.
a) Can you kindly brief me on the below statement of yours:
“for a simple use, SBI card ‘ll be enough & actually more beneficial if your home loan is Max Gain”
b) For max gain home loan sbi, I have given ECS from my hdfc sal account…so want to know whether I will be getting any credit or debit card for this maxgain? or have to open a new account for this with SBI?
Dear Raghav, in case of Max Gain customer, you can better use your money in SBI credit card.
Thanks
Ashal
Ashal,
My home loan is with SBI maxgain only…then is it required for a hdfc card or I shall use this max gain card itself…(considering interest rates between them)???
Dear Raghav, please opt for HDFC credit card if you are an online shopper. for a simple use, SBI card ‘ll be enough & actually more beneficial if your home loan is Max Gain.
thanks
Ashal
First of all, this post by Manish, Best Credit Card In India – Review of top 6 cards (http://jagoinvestor.dev.diginnovators.site/2012/07/best-credit-card-in-india-review.html) can give you a fair idea of different factors to be considered while opting for a credit card.
Coming to your question:
“due to some unforeseen reasons I have been forced to get one” – I hope you have thought well before deciding to go for credit card. I would suggest not to go for cash withdrawals or start with paying only minimum amount due on your card once you start using it!
I believe it would be relatively easier for you to get a credit card with HDFC as you have your salary account with them. Based on your relationship value with the bank things may proceed faster.