India Credit Cards Review, Advise & Market Research
Axis Bank became the first bank in India to introduce credit cards in accordance with Europay, Mastercard, Visa standards that comes with an embedded chip to store the card holders details. [More details on that EMV Standards here]
Read moreAxis Bank’s Credit Card on Euro-Master-Visa Standards
Most Banks and Financial Institutions in India, especially ICICI and its subsidiaries are involved in this malpractice of forcibly issuing an insurance policy with credit card to a consumer. The card company then debits the insurance premium account to your credit card without your consent. When the consumer disputes, the
Read moreCredit Card with unsolicited Insurance under investigation
Chip and PIN are supposed to help protect us all from credit card fraud. Cambridge researchers, Steven Murdoch and Saar Drimer, have found a number of ways that the criminally-minded
I hold HDFC MasterCard Gold Card for over 18 months now. Never I have missed a single payment nor have paid interest on that card. In a way of speaking, I pay-off in full every month.
However, I was shocked to see my last month statement in my hand after the due date [Feb-1]. I had already paid the card but still called customer care to
We are all aware of the magnetic strip on our credit / debit card. However, with advancement in technology, new smart-chips are embedded into the credit /debit card so that data is stored in an encrypted format and is more secure than your magnetic strip card.
For transitioning all card holders to this new format is a big hassle and also expensive. The transition will involve changing all merchant terminals and
It has come to light that their are several Point of Sale [POS]Terminals in India which are participating in Organized Credit Card malpractices.
For instance, this gentleman in Delhi provides cash when you swipe Credit Card at his POS terminal, but at a massive 4% of the total transaction as his fees in addition to bank charges. Lets assume the customer