Card Insider

 In many aspects of your financial transactions, you have surely discovered the idea of interest rates. You might be frustrated if the interest rate on your loan increases or happy if it decreases because the rate of interest refers to the price of borrowing. But have you ever wondered what variables affect the fluctuation of interest rates? Let’s examine the most common factors that affect credit card interest rates . How are Interest Rates determined? In India, the annual percentage rate, or APR, is used to calculate the interest rate on credit cards. It isn't the monthly rate of interest, but the rate of interest calculated over the entire year. But the monthly percentage rate, or MPR, will be used when figuring out interest for transactions that occur each month. Depending on the bank and the credit card you use, the APR and MPR can differ significantly. Therefore, it is important that, as you apply for a credit card, You enquire about the interest rate that will be applied to ...

Accepting credit cards has many advantages. With the advent of credit card processing, companies can save on the use of cash and minimize the physical handling of money while dealing with the appropriate security measures needed to store card information and validate transactions. However, there are several benefits of accepting credit cards for your business. Convenience for Consumers Credit Cards is easier for consumers. One of their main advantages is that they are convenient. Customers who use them don't have to carry cash or a checkbook around with them and can easily keep track of spending through statements each month. Due to this convenience, Consumers who can pay with a credit card are more likely to add items to their orders or make impulsive purchases. Building customer loyalty by accepting credit card payments is another excellent strategy. Customers feel more at ease and confident doing business with you when they know they can use their preferred payment...

Many individuals think that credit cards should only be used for major purchases and unexpected expenses, not for regular spending. It is important to understand one of the most common misunderstandings around credit cards. As long as you don’t go over, there is no danger in using your credit card for everyday purchases. If you’re one of those people who think credit cards shouldn’t be used for regular purchases, you should read this article to see why it might beneficial to do so: Should you use your Credit Card for everyday Purchases? Yes, you are free to use credit cards for regular transactions. It is much simpler to use a credit card than cash or a debit card if you know how to use one properly, so you should use one everywhere you can. The credit utilization ratio, payment due dates, etc., are just a few factors you should keep in mind while you do this. The following are the major advantages of using a credit card for regular purchases: Benefits of making daily purchases...

No-cost EMIs is beneficial to clients, but not everyone is aware of this since they let you make large purchases and pay you back in flexible installments without paying any interest. In this article, we will discuss what free EMI offers on credit cards, how they help consumers, how you may gain benefits from them, and whether you should choose them or not.   How Does No Cost EMI Works? Let’s imagine a buyer wants to buy a smartphone for Rs. 30,000. The annual interest rate is 13%, and you are selecting a 3-month EMI plan. Therefore, over the three-month term, the total interest on this loan would be Rs. 638. No Cost EMI Plan EMI Plan Rs. 10,000 × 3 months Interest (p.a) Rs. 638 (13%) Discount Rs. 638 Total Cost Rs. 30,000 After the order is placed, the discounted value of Rs. 29,362 will be paid to the bank which is Rs. 29,362 (Rs. 30,000 - Rs. 638). Within 4 to 7 ...

Introduction Credit cards have their fair share of benefits and drawbacks, just like any other kind of credit or loan. On the other hand, it grants someone the freedom to make purchases without concern for their financial situation. However, skipping payments on credit card balances can send a person into a loop of increasing debt. There may be circumstances in which it makes sense to delay paying using a credit card, especially if there is a financial crisis. But in addition to late payment fees, skipping credit payments might have penalties that have a long-lasting impact on one’s financial situation. To make things simpler, many card issuers provide a choice to transfer your existing debt to another credit card using balance transfer credit cards which provides a time limit during which you must pay either no interest or a reduced rate. The following are some drawbacks of delayed credit card payments. Higher Rate of Interest Credit card companies often charge a penalty interest rat...

The use of cards and other forms of plastic money is something we all do on a regular basis to make purchases. It is pretty safe and a great way to avoid carrying cash around. Payments can be done with a debit card, credit card , or even through your phone. You may use this as a payment option almost anywhere you go and which makes it quite easy to pay. It is becoming a necessary form of quick money and has replaced cash payments all over the world. Especially, phone payments are common and popular among individuals. You can pay for items in the shop, online, or even through apps. By this, you can avoid carrying extra cards or cash.  Types of Plastic Money Plastic money comes in a variety of forms. But the most used are credit cards and debit cards. Debit Cards Customers can use their debit cards to spend money that is already in their bank accounts. With a debit card, money is transferred from the customer’s bank account to the retailer’s account. You can get cash from an ATM or b...

  While most credit cards offer numerous benefits the one that saves many people from headaches is the fuel benefits they offer. Not only do some credit cards involve benefits involving fuel perks but there are many fuel credit cards that are specifically designed while keeping in mind the fuel benefits. It's remarkable how increasing credit card deals are being made for fuel transactions at such a point while the cost of gasoline and diesel is reaching fresh record levels. Co-branded credit cards have already been introduced by a number of card issuers in collaboration with fuel suppliers. Reasons to use a credit card for fuel purchases: Convenient: Through credit cards, you may pay for petrol as well as various items and facilities at filling pumps without needing to pay from your own pocket. This seems to be accurate if your credit line's total amount is present. When using a credit card, customers are given till the billing date to settle any transactions completed through...