some information about credit cards

How to Choose Your Second Credit Card ?

You’re not obligated to stick with any card through thick and thin. You’re probably better off if you don’t.
Loyalty to family and friends matters. Loyalty to your first credit card? Not so much.
About 39% of cardholders reported carrying only one credit card in a 2016 report from TSYS, a payment processing company.
But you’re not obligated to stick with any credit card through thick and thin. In fact, you’re probably better off if you don’t. Getting a second card that fits your spending habits can earn you more rewards or save you on interest.
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When to apply
There’s no perfect time to apply for a second credit card. As long as getting one will save you money and you're not about to apply for a mortgage, you’re probably in the clear.
But it might be an especially good time to apply if:
Your credit has improved. You'll now have access to better credit card options.
Your spending habits have changed. If your card offers bonus rewards only on restaurants, for example, and you no longer dine out often, it might be time for a change.
You want more rewards or benefits. Two credit cards can get you more perks than one.
You’re carrying high-interest debt. Moving your debt to a balance transfer card can save you money on interest.

Different Types of Credit Cards

Whether you already own a credit card or are thinking of applying for one, you should know how to use it responsibly. Credit cards can make financial planning easier, but they need to be used the right way!
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All types of credit cards can be broadly categorized as:
Secured
A secured credit card requires you to pay the lender some deposit money upfront or pledge an asset as collateral. A credit limit is then set on your card according to the collateral value. Card providers can seize this collateral if you default on payments. Because of the low risk to lenders, secured credit cards are relatively easy to get.
Unsecured
An unsecured credit card is not backed by any money or assets that you pledge as collateral. This is the most common type of credit card, but not always easy to get. Since the card issuer entails some risk in providing you with a card, they will conduct a thorough check of your credit history, financial strength, and earning potential first.
Credit card types may also be based on earning and spending patterns:
Silver Credit Card
Gold Credit Card
Platinum Credit Card
Titanium Credit Card
Premium/Signature Credit Card

Best instant approval credit cards in India

An individual cannot predict their emergency expenditure, no matter how hard they try. a sudden health crisis, the need for car repair, damaged electronic appliances - all these crises need an urgent financial arrangement.
for last-minute financial aid, consider getting a new credit card and tackle these unforeseen expenses. but while applying for a credit card is a piece of cake, it takes approximately ten business days after approval for the card to reach your doorstep.
in the case of emergency expenses, it may not be feasible for you to wait that long to get the money. luckily, instant credit cards come to your rescue.
these life-saving cards give you the card number instantly after the bank approves it. that way, you can use the card number to make your purchases even before you receive the physical copy of the card.
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If you urgently need money or want to be prepared in such a dire situation, here is a list of the 6 best instant approval credit cards.
1. HDFC Bank instant approval credit card
2. Bajaj Finserv RBL Bank super card
3. Kotak 811 #Dream Different credit card
4. Standard Chartered virtual credit card
5. SimplySAVE SBI credit card
6. Axis Bank Insta Easy credit card
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Gone over your credit card limit?

it is not uncommon for credit cardholders to be charged for going over their credit limits. and it generally only occurs with your consent. if you find yourself in such a situation, there are only two possible outcomes. either you incur a late fee or you end up hurting your credit score.
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opting out of over the limit charges
when a credit card is issued, you might be given an option to opt for over-the-limit transactions. if your bank provides this facility, you can opt in or out of this option anytime you want.
in case you have this option enabled, purchases exceeding your limit usually go through. the allowed overdraft amount and the levied fees are decided by your bank.
on the contrary, if you have opted out of this, any transaction that exceeds your limit would be automatically declined. this saves you from any unwarranted charges on the card.
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impact of going over your credit limit
apart from the applicable charges, surpassing your credit card limit can have two more consequences:
increased debt-to-limit ratio: the debt-to-limit ratio represents the consumer’s total credit card debt versus total credit card limits. in other words, it represents the amount of debt that is available for your usage. going over the card limit effectively translates to a ratio of more than 1 (or 100%), which can be bad for your credit report in the long run.
implications on credit reports: it is rare for credit ratings to be impacted due to single over-the-limit instances. but multiple instances like these are will have a detrimental effect on the ratings.
future credit prospects: multiple lenders can access your report and review it with soft credit checks from time to time. with a low credit score, future prospects of credit increases or new credit card issuance can be impacted.

5 things to know before you swipe your credit card

while credit card provides reliability and convenience, it’s important to address the potential risks associated with them. the additional charges weigh heavy on the users, and they often find themselves receding in a debt trap. through this article, we'll take you through some important factors that you should consider before you swipe your credit card.
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Things to be aware of before you swipe your credit card
budget planninghaving a credit card can be overwhelming, especially when you start spending. most credit cards offer interest-free credit for a brief tenure which gives scope to unplanned spending as well. the pleasure of unconscious spending often makes you forget about its repaying plan. this eventually will add up to your financial burden. thus, it would be wise to budget your expenses before you go out and spend all that money.
offers & promotionsmost credit card providers offer certain promotional schemes with cashback and reward points. such offers can be discounts at restaurants, movies, or other cashback programs.
cash withdrawal chargesmost credit cards come with a cash withdrawal facility. while this is convenient, there is always the underlying fine-print associated with it, thus making it important for you to go through and fully understand charges before utilizing it.
credit card bill payment & credit scorea credit score is essentially a 3-digit number that measures the health of your debt and repayments. it is an indication of how responsibly you repay all your dues. if a cardholder fails to make the credit card bill payment on time, it can impact the CIBIL score negatively.
EMI payment optionevery credit card has the option of repayment through EMI. when you have made a high value payment, this option might seem as one that is viable. having an option of EMI gives the flexibility of paying the total sum in smaller instalments. not only does it help with your budgeting, but it also lowers the interest rates.
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Save Money When You Are Shopping

In the present economic situation, the prices of different goods and services are always increasing every day. Money has become quite hard to earn. Therefore, many people are looking for ways to save their money. One of the main ways to save in a day to day life is on shopping. People go crazy while shopping with no limits. Consider that you are stealing your own money when you shop what not needed. Never spend money before you have it.
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Here are the different ways to save your money from shopping.
Make a Shopping List, set your Budget
Bring the Cash limit
Comparison Shop
Buy only required stuff
Do Not to Shop When You're Bored
When in Doubt, Leave the Store
Find Cheap Deals Online
Don't Be Excited by Sales
Shop Out of Season
Save Your Receipts
Buy Local products

Financial Independence Retire Early

FIRE (Financial Independence Retire Early) is a financial lifestyle movement with the motive of gaining financial independence to retire early. This can be achieved by extreme savings and investment. With the saving of 70% of the annual income FIRE proponents lines to retire early and live off small withdrawals from the saved funds.
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Everyone wants to be wealthy. But it could be achieved by following some healthy financial steps for living a financial freedom life. The below mentioned are the lifesaving tips, which if you make a regular habit of your life.
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Do a Budget Every Month
Live Below your means
Check your spendings
Keep an Emergency Fund
Save for Big Purchases
Make an extra income source
Save for retirement

Pradhan Mantri Jeevan Jyoti Bima Yojna

Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) is the government-operated life insurance scheme, the motive of this scheme is to uplift the poor and the lower section people of the society. This scheme is available for every person between the age group from 18 to 50 years. This is one of the best plans for the people for their money investment. As this scheme was operated by the government of India it offers high security for the investor, it is a risk-free investment option for any individual who are looking to invest their money either for short-term or long-term savings.
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What are the Key Features of PMJJBY?
Tenure- 1-year tenure from the day of the policy enrollment and will be renewed every year till 55 years.
Enrollment Period - Enrollment starts from Every year of 1st June to the subsequent year till 31st June.
Policy Coverage - PMJJBY offers Rs 2,00,000/- coverage for the nominee (Terms Apply)
Tax Benefit - The coverage amount that comes from PMJJBY is tax-free. PMJJBY offers tax benefits under section 80C under IT Act.
Payment Mode - The only mode is through the saving bank account, the amount will be automatically debited from the respective bank account of the policyholder.
What is the Procedure to Claim the PMJJBY?
Procedure for the Beneficiary-
Download the PMJJBY Claim Form
Fill the form and submit in the bank along with the cancelled cheque and other detail to the bank.
Once verified the beneficiary must collect the amount from the bank.
Procedure for the nominee to claim-
If the insured person had an unfortunate demise, the nominee must visit the bank and submit the death certificate.
The nominee must get the claim form of PMJJBY, fill, and submit it to the bank.
Along with the claim form, the nominee must submit the beneficiary's death certificate, discharge receipt, cancelled cheque, bank details of the policyholder, etc.
Once verified, the nominee must collect the claimed amount from the bank.
Benefits of PMJJBY:
Tax Benefit
Death Benefit
Risk-Free Investment Option
Easy application Procedure.
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HSBC Visa Platinum Credit Card

Why do we like it?
HSBC Visa Platinum Credit Card is an all-rounder. We recommend this card for a variety of reasons: an excellent sign-up bonus; 3X rewards on dining, hotel & telecom bills; 15% discount on dinner; fuel surcharge waiver;
If you like to dine out regularly and looking for saving on fuel surcharges, then HSBC Visa Platinum is the card for you. New card members earn a huge sign-up bonus.
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Fees
The HSBC Visa Platinum card has no annual fees. It comes with an annual interest rate of 39.6% on purchases and 39.6% on cash withdrawals.
Partner Benefits
BigBasket: Up to ₹450 instant discount.
Flipkart: 10% instant discount on a wide range of appliances.
MakeMyTrip: Up to ₹15,000 instant discounts every Sunday.
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HDFC Bank Doctor’s Superia Credit Card

HDFC Bank Doctor's Superia Credit Card is one of the best credit cards packed with huge benefits like air Miles, accelerated reward points for doctors. This doctor's special credit card of HDFC Bank with a low annual fee of Rs 1000/- can be waived off just by spending Rs 1 lakh in a year. Here is our verdict on the HDFC Bank Doctor's Credit Card, which helps you understand it is benefits and features clearly, so you could make all of it.
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Benefits and Features of HDFC Bank Doctor's Superia Credit Card:
Get 1000 bonus reward points as a welcome gift.
Profit 1000 reward points as renewal benefit
On every Rs 150/- spent earn 3 reward points
Get 50% rewards on dining at the picked restaurants.
Get insurance coverage up to Rs 20 lakhs (Terms Apply)
The Doctor's Superia Credit Card offers the option of conversion of rewards to Airmiles (667 Rewards equal to 100 Airmiles)
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