Credit cards

[dare_devil]

I just started earning and i opened my salary account in hdfc. They offered of free credit card. As i don't have any kind of experience in that so i want to know more about them and what are the do's and don't. What is a credit period?

[gagan007]

Actually there are both pros and cons of having a credit card.

It actually makes you spend more than what you can actually spend because we tend to make up our mind that no matter what I can make the CC bill payment the moment I get my salary.The CC banks make a lot of money when someone defaulters while paying the money back to them. There is late payment fee (which is around Rs. 500 for most CCs), then they levy interest, rate of which is also too high.

CC is useful in case of making online transactions (rail/airline booking, purchases etc.). But your HDFC Bank account gives you facility to create virtual CC which could be used for online transactions. It is just that you will not be able to make any purchases personally/being physically present in a shop. But your debit card will help you that time.

I dnt want to sound like an hypocrite but I will tel you that I have 6 different bank's CCs. I use them from time to time as I do not like to carry a lot of cash but I keep a tab on how much purchases I have made.

[krishnandu.sarkar]

Can anyone refer me a good SBI CC??

[Liverpool_fan]

Don't go for SBI CC. They suck.

[gagan007]

I am using SBI CC for 3 years now. No issues what so ever. I do hate ICICI bank CC.

There was an offer on Indiatimes.com purchase related to EMIs if ICICI CC is used.I booked the order successfully and made payment thru ICICI CC for which it charged me Rs. 500 extra(because I availed EMI option).After around 15 days idiots at Indiatimes cancelled the order saying they dnt have that equipment in stock (this shud actually be checked before accepting the order). They did refunded all the money but I am yet to receive those 500 from ICICI bank after making numerous calls to the customer care (and its been 3 months).

Take SBI Gold CC...that's what I have been using. Then Standard Chartered Platinum also has some good offers. If you make a lot of train reservations go for SBI IRCTC Rail Card, you will get some cashback for every booking.

[Baker]

go for standard charted titanium card .... am using for last 3 years , they will give u 1% discount on any purchase over 1000rs and 5% discount for fuel and telephone bill payment

or hsbc platinum