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POSTED BY ON November 16, 2012 6:52 am COMMENTS (2)
well now i already know most of the things about Credit Card ,but still i have few question from [https://www.jagoinvestor.com/2012/07/best-credit-card-in-india-review.html]
there is a survey done on that page known as [[Best & Worst Credit Card in India as per Survey]]
1>Intrest Rate of HDFC and SBI Bank is [2.89] which is high and its in Green colour which shows its best ,so whats good if my Intrest rate is high ?
2>Same Question for [Fees and charges]
3>what benifit and reward do we get through a credit card ?
4>If we buy any thing of Rs 1000 ,espicially online than what will be the charges on my card ,if higher or lower than 1000 than why ?
Thanks !
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I guess you need to read the survey correctly.
1. Its not the Actual Interest rate, but the score obtained in the survey when compared with other cards. In this way, SBI and HDFC got the max score (in terms of providing least Interest rates). For the actual interest rates you might have to check the Brochure of the card you are applying for.
2. Same as above. Not the actual fees. Check Brochure for actual fees.
3. Benefit
a. You can spend when you dont have money with you and payback when you get it (with or without interest based on when you payback)
b. You get reward points (nowadays you get it on debit cards as well) which you can exchange it for “goods” like Bags, Gift Items, Kitchen Appliances etc. Check the Reward points of the Bank for more information,
c. If there is “Double” Transaction, like failed transaction and you account gets debited twice, you can dispute this with the Bank. You can dispute this in Debit card as well, but in case of delays your money will be locked up. In case of CC, its not your money thats locked up until you pay the bill.
d. Same with stolen cards, if your CC gets stolen, your money is safe in the bank and you can block and requst for dispute. In Debit, your money is gone, until the matter is resolved you wont get it back.
4. This question does not make any sense at all. If you buy for 1000, your CC gets charged for 1000.
thanks 😀 especially for the last answer -_- , 😀