Top all-round credit cards: By choosing an all-round credit card, users can enjoy various benefits and maximize their savings on a range of purchases. Here is a look at credit cards with the best all-round benefits chosen basis the overall value offered by a card across multiple categories like shopping, dining, travel, movies and more.
The demand for manpower to sell credit cards and loans in India is increasing, despite the Reserve Bank of India's stricture on unsecured loans and the growth momentum in personal loans tapering off in February. Frontline sales jobs from BFSI companies are 14-20% higher this month compared to a year earlier, with industry executives predicting that about 25,000-30,000 frontline sales personnel will be hired in the April-June quarter to cater to the rising demand in retail and unsecured loan categories.
Credit cards: Words like billing cycle, annual fee, credit score, grace period, and EMI are important for managing your credit card wisely. An annual fee is a set amount of money you have to pay every year for your credit card. It's a common payment term, and the cost can vary, usually between Rs. 500 and Rs. 2,999, or sometimes more. Here are 12 important credit card terms you should know.
Credit cards: Words like billing cycle, annual fee, credit score, grace period, and EMI are important for managing your credit card wisely. An annual fee is a set amount of money you have to pay every year for your credit card. It's a common payment term, and the cost can vary, usually between Rs. 500 and Rs. 2,999, or sometimes more. Here are 12 important credit card terms you should know.
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The average ticket size (ATS) of all UPI transactions in H2 2022 was Rs 1,648 compared to Rs 1,515 in H2 2023, an 8% decrease.
Ecommerce, gaming, utilities, and government services dominated India's online transactions in H2 2023. UPI transactions surged, mobile wallets gained popularity, and in-store purchases increased. PoS terminals expanded, with electronic toll collection and mobile payments on the rise. While UPI dominates digital payments, the report acknowledges a modest growth in the total number of cards in circulation, reaching 1.3 billion.
The amount of credit used compared to the total credit available refers to the credit utilisation ratio. Lower utilisation ratios, ideally below 30%, are generally considered favourable for credit health. High credit utilisation can suggest financial strain and may negatively affect credit scores. Regularly monitoring and managing credit card balances can help control utilisation and improve credit health.
Total debit card transactions by both volume and value has witnessed a downfall in the month of February 2024, on a year on year basis, while credit card transactions has witnessed an uptick in both volume and value. Here's what data suggests:
A recent report by Worldline India highlighted that there has been an exponential rise in credit cards, both in terms of volume and value. Credit cards in India has witnessed a growth of approximately 21 per cent year-on-year as of December 2023. It is also to note that PoS terminals have seen a significant increase as well on a year-on-year basis. Here's what the report highlighted:
According to latest data by 1Lattice, SBI and HDFC Bank continued to dominate the debit cards and credit cards market share respectively, in February 2024. In terms of YoY growth, in both the debit cards and credit cards segment, Axis Bank witnessed the highest growth. Here's what the data suggests:
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