Plastic money is invading the Indian consumer. Here are some smart credit card spending tips for you such that you don’t land in a credit trap.

• It is always tempting to own as many credit cards as possible. But restrict yourself to the best 3 [No Annual fees + Lowest APR on Purchases]. Usually One VISA, One MasterCard and One AMEX. These could be issued by any bank or it could be a co-branded card. I have

  Read moreSmart Credit Card Tips for Indians

With rising disposable income in India, Indians are looking for credit cards to suit their specific requirements. This has led to a BOOM in co-branding of credit cards with leading national and international banks.

• There are over 50 co-branded credit cards in India
• Some of the co-branded credit cards are HDFC Bank Idea Cellular

  Read moreCo-Branded Credit Cards Boom in India

The robust growth in the Indian economy is also witnessed in the credit card industry. Higher disposable income by relatively younger workforce in Mid 20s has made India a perfect market for credit card companies.

Here are some statistics and projections of the Indian credit card industry.

• Visa, which

  Read moreIndian credit card industry to witness robust growth

Indians are receiving free credit card offer letters. You have to treat these letters with utmost CAUTION. Raj an MNC executive received a free credit card offer letter but with a TRAP – Raj is eligible only if he has any existing credit card and Raj who already had three wanted the fourth to make some pre-wedding purchases. Raj quickly filled in all the details including his existing credit card number, personal details such as date of birth, PAN and sent it.

A week past by, Raj had

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Reliance Capital Limited, a Anil Dhirubhai Ambani group company has launched Reliance Credit Card in association with CitiBank India.

Last month, Reliance Capital Limited officials were in talks with HDFC Bank Limited and the deal was almost sealed but at the last

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