Calculation of Finance Charge by HDFC Credit Cards

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Many of you still don’t quite understand how Finance Charge is calculated on balance amount by credit card companies. I found that HDFC Credit Card is one of the better ones who explain it very clearly.

Here is a step by step guide on how Finance Charges are calculated.

Citibank and HSBC Violate RBI Norms

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Citibank and HSBC have violated RBI norms while dealing with Credit Cards in India. The investigative agency of Governmnet of India [MRTPC] has recommended actions against both the banks. We all know that Credit Card companies in India are worse than underworld financing. Here are some of the serious crimes and offences committed by Citibank and HSBC.