Comments on eNidhi India: Best practices in Credit card usage

Pls check with your bank or net for the same. I w...

2010-01-12T06:59:06.145+05:30

Pls check with your bank or net for the same.
I would have given detailed reply, but of late too many anonymous comments.

Can anybody give more information on the billing c...

2010-01-11T15:23:40.375+05:30

Can anybody give more information on the billing cycles of Credit Cards?
please give detailed information with clear examples.
Thank you.

2009-11-07T10:52:56.252+05:30

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ok.. Thanks for coming back and answering. I don't...

2009-04-30T13:59:00.000+05:30

ok.. Thanks for coming back and answering. I don't see much of an usage if we can't use it offline. What percentage of purchases we do online? If you ask me, very minimal.

Shrinidhi the only disadvantage is that we can onl...

2009-04-30T11:18:00.000+05:30

Shrinidhi the only disadvantage is that we can only use it for online transactions which are the most risky kind of transactions,i am using it from last 3 years and found no problems.

I've heard of virtual cards, but not used them. ca...

2009-04-29T16:48:00.000+05:30

I've heard of virtual cards, but not used them. can we use them for physical transaction also? or only online?

Understanding billing cycle is very very important...

2009-04-29T13:34:00.000+05:30

Understanding billing cycle is very very important, i had already been a victim of not properly understanding the billing cycle, i have to pay a good amount to credit card. I think it should not be used. One can try with HDFC Netsafe CARD Instead, it is a virtual credit card, now i am using it from last 3 years.

Sumesh, Agree. I thought of opening an account wi...

2009-04-20T18:41:00.000+05:30

Sumesh,

Agree. I thought of opening an account with HDFC- they wanted AQB of 5000k, with only ATM Card free (Debit card would cost Rs 100). I asked them- SBI gives me ATM card and all facilities for an AQB of Rs 1000, why should I keep Rs 5k in HDFC- the bank staff had no answer.

Anyway after few days I got a call that now their AQB is 10000 and I should give cheque for

While on the topic of banks,i am facing a situatio...

2009-04-20T18:27:00.000+05:30

While on the topic of banks,i am facing a situation,where in bank charges for not maintaining min balance in a new gen bank has almost touched 50000/=.That too my wife's account which she opened due to peer pressure when in college just for the sake of it.Now we have joint accounts and find no reason to pay the charges for that account which was never used except to pull out leaving some 2000Rs[

Binny,

Agree on the law, but some transacti...

2009-04-13T14:05:00.000+05:30

Binny,

Agree on the law, but some transactions just can't be made without credit card (we'll either have to rely on a friend who has cc or depend on offline modes of payment), so having one card helps.

Hari,
Agreed, thanks

Radhika,
Ok. I feel we can be little more liberal-no need to rush payment within 2-3 days, just ensure that you pay before due date.

It has been my policy since day one of my personal...

2009-04-13T14:00:00.000+05:30

It has been my policy since day one of my personal credit card. I spend only when i have enough money in my account to repay in 2-3 days or if my salary is going to be credited within 7 days. Otherwise i resist whatever temptation i have for shopping! I do not treat my CC as surplus cash but just a way to avoid withdrawing lot of money and carrying it everywhere!

I prefer cash all the time, but of course, due to ...

2009-04-13T09:36:00.000+05:30

I prefer cash all the time, but of course, due to online transactions, credit cards have become inevitable as most online vendors only have Credit Card option and even some internet payment gateways like Paypal allow debit cards only for US banks.

So it's better to have a credit card for backup purposes, but not use it at all (or use it just for trivial amounts to keep the card

One very important law in Finance: Don't spend mon...

2009-04-11T20:03:00.000+05:30

One very important law in Finance: Don't spend money you don't have.

So when it comes to credit card - throw away your credit card - get a debit card instead.