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<ul><li>A Reddit user managed to get an <keyword id="19899647" type="General" weightage="20" keywordseo="iPhone-16" source="keywords">iPhone 16</keyword> by paying less than ₹27,000.</li><li>The user redeemed points from his <keyword id="19927314" type="General" weightage="20" keywordseo="credit-card" source="keywords">credit card</keyword> to get the iPhone 16 at this price.</li><li>Here’s everything you need to know about how the user got the iPhone 16 using ₹27,000.</li></ul>Credit cards are great if you use them correctly and pay your dues on time. They not only help you get access to free credit for a short period of time, but you can also accumulate reward points and redeem them while making your purchases. If you haven’t been taking your credit card reward points seriously, here is something that might change your mind. In a post, a Reddit user, Wild_Muscle3506, revealed that he purchased the recently launched<a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms"> iPhone 16</a> 256GB variant for under ₹27,000. <div type="Article" hostid="261" msid="113204340" title="iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900" mstype="2" mssubtype="0"></div> To recall, the iPhone 16 256GB variant is currently priced at ₹89,900. If you are wondering how the user managed to get such a big discount, the answer is reward points. As per the user, he was able to get the iPhone 16 for ₹26,970 by paying the remaining balance of ₹62,930 in reward points. The user was able to accumulate the points on his <keyword id="23469811" type="General" weightage="20" keywordseo="hdfc-bank-infinia-credit-card" source="Orion">HDFC Bank Infinia credit card</keyword>. This is a <keyword id="23469815" type="General" weightage="20" keywordseo="premium-credit-card" source="keywords">premium credit card</keyword> from the bank and comes with an issuance fee of ₹10,000 and an annual fee of ₹10,000. The user mentioned in the comments that he had to spend a huge amount to accumulate enough points to be able to get the iPhone 16 without having to spend a huge amount. In response to a user asking how much the person spent to accumulate enough points to get the iPhone 16, the user said around ₹15 lakh. However, this may not be entirely accurate as Infinia offers several accelerated reward point opportunities. In response to another comment, the user accepted this. “I never calculated how much I spent as I had also used my reward points earlier to book some flights,” the user said in a comment. Like most of us, a user was in awe of how the person was able to get the iPhone 16 at such a low price. “It makes me feel how little I know about credit cards and I was so dumb assuming that credit cards are scams,” the user chimed in. If you are thinking along the same lines and would like to know more about the <keyword id="23469814" type="General" weightage="20" keywordseo="HDFC-Bank-Infinia" source="keywords">HDFC Bank Infinia</keyword> credit card, do let us know and we will come up with a detailed post. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/here-are-the-benefits-you-get-with-indias-most-expensive-credit-card-with-a-3-54-lakh-annual-fee/articleshow/113123752.cms">Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a> <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a>

Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000

The festive season is here and with it, you are likely to make several purchases from e-commerce platforms, be it for yourself or for your friends and family. Choosing the right credit card for <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword> can make a significant difference in how much you save and earn from your purchases. <keyword id="19953671" type="General" weightage="20" keywordseo="credit-cards" source="keywords">Credit cards</keyword> not only allow you to easily get products on credit, they can also make them cheaper thanks to cashback and reward points. You also get access to airport lounges, railway lounges, dining offers and more. In this post, we look at some of the <keyword id="23600028" type="General" weightage="100" keywordseo="best-credit-cards-for-online-shopping" source="Orion">best credit cards for online shopping</keyword> in India. <h2><keyword id="3294523" type="General" weightage="20" keywordseo="best-credit-cards" source="Orion">Best credit cards</keyword> for online shopping in India</h2><h3><keyword id="23600026" type="General" weightage="20" keywordseo="Amazon-Pay-ICICI" source="keywords">Amazon Pay ICICI</keyword> credit card</h3> <div type="image" title="Amazon Pay ICICI credit card" msid="114354421" hostid="261" caption="&amp;lt;p&amp;gt;Amazon Pay ICICI credit card&amp;lt;/p&amp;gt;"></div> The Amazon Pay ICICI Credit card is among the most popular co-branded credit cards, offered by ICICI Bank in partnership with e-commerce giant Amazon India. It’s great for those who regularly shop on Amazon, as it offers a 5% cashback on all purchases on the platform. Key Features: <ul><li>Cashback: Up to 5% cashback on Amazon purchases, and 2% cashback on other online shopping.</li><li>Additional cashback: Earn 2% cashback at partner stores, and 1% on all other spends.</li><li>No annual fee: Lifetime free credit card.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul> <div type="Article" hostid="261" msid="113123752" title="Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee" mstype="2" mssubtype="0"></div> <h3>HDFC Millenia credit card</h3> <div type="image" title="HDFC Millenia credit card" msid="114354433" hostid="261" caption="&amp;lt;p&amp;gt;HDFC Millenia credit card&amp;lt;/p&amp;gt;"></div> The HDFC Millenia is a popular credit card from HDFC Bank and is among the most sought-after cards from the bank. This card offers good rewards on Amazon, Flipkart, Myntra and other online platforms. It is also good for utility bills and fuel spending. Key Features: <ul><li>Cashback: 5% cashback on Amazon, BookMyShow, Swiggy, Flipkart, Myntra and more. It offers 1% cashback on all other spends.</li><li>Lounge access: 1 complimentary lounge access per quarter.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul><h3>Flipkart Axis Bank credit card</h3> <div type="image" title="Flipkart Axis Bank credit card" msid="114354438" hostid="261" caption="&amp;lt;p&amp;gt;Flipkart Axis Bank credit card&amp;lt;/p&amp;gt;"></div> With Amazon partnering with ICICI Bank, Flipkart joined the race and partnered with Axis Bank to launch the Flipkart Axis Bank credit card. The card offers 5% cashback on Flipkart and Cleartrip. Key Features: <ul><li>Cashback: 5% cashback on Flipkart and Cleartrip, 4% on preferred partners and 1% on other spends. </li><li>Lounge access: 4 complimentary lounge access per year on spending ₹50,000 during the previous 3 months.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul> <div type="Article" hostid="261" msid="98090488" title="How to use credit card to make UPI payments" mstype="2" mssubtype="0"></div> <h3>Cashback SBI Card</h3> <div type="image" title="Cashback SBI credit card" msid="114354449" hostid="261" caption="&amp;lt;p&amp;gt;Cashback SBI credit card&amp;lt;/p&amp;gt;"></div> The Cashback SBI Card has quickly emerged as one of the most popular cards from the state-owned bank, beating its SimplyClick card, which was one of the preferred cards for online spending. The USP of this card is that it offers a flat 5% cashback on all online spending. Key Features: <ul><li>Cashback: 5% cashback on all online spends, without any merchant restrictions. It also offers 1% cashback on all offline transactions.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li><li>Annual fee waiver: Fee waiver on spending ₹2 lakh in the preceding year.</li></ul><h3><keyword id="23600027" type="General" weightage="20" keywordseo="Axis-Bank-Ace" source="keywords">Axis Bank Ace</keyword> credit card</h3> <div type="image" title="Axis Bank Ace credit card" msid="114354458" hostid="261" caption="&amp;lt;p&amp;gt;Axis Bank Ace credit card&amp;lt;/p&amp;gt;"></div> The Axis Bank Ace credit card is another excellent card, especially for those looking for a card for bill payments, utility spending and more. It is also one of the few credit cards that can be added to Google Pay. Key Features: <ul><li>Cashback: 5% cashback on all bill payments, mobile recharges and DTH recharges via Google Pay. It also offers 4% Swiggy, Zomato and Ola.</li><li>Lounge access: 4 complimentary lounge access per year on spending ₹50,000 during the previous 3 months.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul> <div type="Article" hostid="261" msid="102133212" title="HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more" mstype="2" mssubtype="0"></div> <h3>American Express SmartEarn credit card</h3> <div type="image" title="American Express SmartEarn credit card" msid="114354467" hostid="261" caption="&amp;lt;p&amp;gt;American Express SmartEarn credit card&amp;lt;/p&amp;gt;"></div> While it is more challenging to get American Express cards than other cards on the list, getting your hands on the SmartEarn credit card is relatively easy compared to other cards offered by American Express. Key Features: <ul><li>Reward points: 10X membership reward points on Flipkart, Zomato, Myntra, Uber, Ajio and more. 5X membership reward points on every ₹50 spent on Amazon.</li><li>Monthly spends: Earn 500 membership reward points on spending ₹2,500 in a month on 10X reward point partners.</li><li>Annual fee waiver: Fee waiver on spending ₹40,000 in the preceding year.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/finance/news/here-are-the-benefits-you-get-with-indias-most-expensive-credit-card-with-a-3-54-lakh-annual-fee/articleshow/113123752.cms">Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee</a> <a href="https://www.businessinsider.in/stock-market/news/bigger-they-are-harder-they-fall-a-look-at-how-the-countrys-biggest-ipos-have-fared/articleshow/114307997.cms">Bigger they are, harder they fall – A look at how the country’s biggest IPOs have fared</a> <a href="https://www.businessinsider.in/business/news/hdfc-bank-and-swiggy-launch-co-branded-credit-card-to-offer-discount-to-customers/articleshow/102133212.cms">HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more</a>

Best credit cards for online shopping this festive season

<ul><li><keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> and Swiggy have announced the launch of a co-branded credit card.</li><li>The credit card will offer a 10% cashback on Swiggy and a 5% cashback on popular e-commerce platforms.</li><li>The card will be available to eligible customers in the next 7-10 days.</li></ul>HDFC Bank, India’s biggest bank has partnered with food and grocery delivery platform Swiggy to launch a co-branded credit card, the first such offering from Swiggy. The HDFC Swiggy co-branded credit card comes with several offers for customers and will be rolled out on the Swiggy app over the next few days, allowing eligible customers to apply for the credit card. The credit card will be hosted on the Mastercard payments network. “We recognise that modern-day consumers actively seek rewards, offers, and cashback programs that add value to their spending. Keeping this in mind, we have launched this all-encompassing card in partnership with HDFC Bank and Mastercard that makes everyday shopping moments across a range of categories more rewarding and convenient,” said Rahul Bothra, chief financial officer, Swiggy. <cmsannotation type="cmsannotation" annotationid="HDFC Bank Swiggy credit card benefits" comment="subhead" text="HDFC Bank Swiggy credit card benefits">HDFC Bank Swiggy credit card benefits</cmsannotation> The main highlight of the co-branded credit card from Swiggy and HDFC Bank is that it will offer a 10% cashback on spends on food, groceries and dining out on Swiggy. This means that you can avail a 10% cashback every time you order food, get groceries or use Dineout to eat at your favourite restaurant. In addition to this, the card also offers a cashback of 5% on platforms such as Amazon, Flipkart, Myntra, Ola, Uber, Zara, BookMyShow and more. Apart from this, users will get a flat 1% cashback on all other spends. It is to be noted that the cashback will be deposited in the form of Swiggy Money in the customer’s Swiggy account and will be usable only on its platform. As part of an introductory offer, users who get the co-branded credit card will get a complimentary 3-month membership of Swiggy One, the company’s premium membership. <cmsannotation type="cmsannotation" annotationid="Other HDFC Bank cards that offer cash back" comment="subhead" text="Other HDFC Bank cards that offer cash back">Other HDFC Bank cards that offer cash back</cmsannotation> This is not the first time that HDFC Bank has partnered with another platform to offer a co-branded credit card. The company already offers co-branded credit cards with companies like Tata Neu, IRCTC, Indigo and more. As part of this, the credit card offers a high cashback on spends on their respective platform and a nominal cashback on other platforms. <cmsannotation type="cmsannotation" annotationid="Zomato discontinues its credit card" comment="subhead" text="Zomato discontinues its credit card">Zomato discontinues its credit card</cmsannotation> Zomato had earlier partnered with RBL Bank to offer a co-branded credit card, which included access to its premium membership. However, the card has now been discontinued and users who had the card have been given the option to shift to another credit card from RBL Bank. SEE ALSO: <a href="https://www.businessinsider.in/business/news/here-are-the-top-10-companies-in-india-as-per-market-valuation/slidelist/102129586.cms">RIL to HDFC Bank to ITC – Here are the 10 most valuable Indian companies</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-3203-cr-in-q1-2023-24-on-improved-jlr-performance/articleshow/102108825.cms">Tata Motors posts net profit of ₹3,203 cr in Q1 on improved JLR performance</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch today</a>

HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more

Are you an avid credit card user? Are you up to speed with all the changes that have come into effect starting today, which is all set to impact your credit card usage, and your pocket. Here's a quick snapshot of all the changes that you should be well aware of: <h2><keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> </h2>Starting today, ICICI bank has done away with fees for many services, which include request for a charge slip, which was earlier chargeable at Rs 100/slip and cash and cheque pick up, which also carried a fee of Rs 100 earlier. Earlier, for outstation cheque processing and duplicate bank statement (for three months), a fee of Rs 100 was payable. Now, all those charges have been waived. However, going ahead, you'll have to dish out Rs 200 instead of Rs 100, if you wish to get your credit card replaced. <h2><keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword></h2>If you hold a <keyword id="19941660" type="General" weightage="20" keywordseo="Citibank" source="keywords" meta.keywordsubtype="org" meta.entityname="Citibank" meta.hostid="261" meta.entityid="Citibank">Citibank</keyword> credit card, this is for you. The migration of all Citibank <keyword id="19953671" type="General" weightage="100" keywordseo="credit-cards" source="keywords">credit cards</keyword> to Axis bank will be complete by 15th July, 2024. Post that, you will receive new credit cards from Axis bank .However, until then, your existing Citibank cards will continue to work just fine. All your unredeemed points will be converted into EDGE miles. After migration, they will have an expiration period of 3 years. Starting today, RBIs new rules mandate that all credit card transactions in the country be processed through <keyword id="20779381" type="General" weightage="20" keywordseo="Bharat-Bill-Payment-System" source="keywords">Bharat Bill Payment System</keyword> (BBPS). This means that if your bank has not come on board with BBPS, you will not be able to make payment through their credit card on other third-party platforms. Out of 34 banks that can issue credit cards, 12 banks have come onboard the BBPS. These include SBI, <keyword id="19938728" type="General" weightage="20" keywordseo="kotak-mahindra" source="keywords">Kotak Mahindra</keyword>, IndusInd, Federal, HDFC, ICICI and IDFC bank. Indian Overseas bank and <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">YES Bank</keyword> are expected to go live soon. <h2>SBI Bank</h2>Starting July 15th, if you hold one of the 22 specified SBI credit cards, you will no longer accrue any reward points while making certain transactions, particularly if they are related to government services. These include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Etihad Guest SBI Card, Fabindia SBI Card SELECT, IRCTC SBI Card, Mumbai Metro SBI Card and more. <h2>YES Bank </h2>If you hold a YES Bank credit card, the criteria for you to qualify for complimentary lounge access has changed. Starting today, you will have to spend at least Rs 35,000 from your credit card in the previous quarter, in order to be able to get a complimentary access to domestic airport lounges in the next quarter. Earlier, this threshold was set at Rs 10,000. This will impact YES Marquee, YES SELECT, YES Reserv, YES First Preferred, YES Bank ELITE, YES BYOC, and YES Wellness Plus cards. <h2>HDFC Bank</h2>Starting August 1st, if you make rent, or education related payments via platforms like Cred and Paytm, you will have to pay a fee of upto 1% of the transaction, which will be a maximum of Rs 3,000. However, if you make the payment directly through your school or college's website, you will be able to save on this charge. Similarly, on all fuel expenses of over Rs 15,000, a 1% fee will be applied, which can be a maximum of Rs 3,000.

What has changed for your credit cards, starting today?

<ul><li>Rising inflation has dampened overall credit card spends in August, but experts say they will bounce back in September thanks to festival sales.</li><li>Overall, Indians spent over ₹1 lakh crore for the sixth consecutive month, and the average dues have continued to rise.</li><li>Indians also spent three times as much using credit cards versus debit cards while buying things on e-commerce websites.</li></ul>Credit card users have spent over ₹1 lakh crore now for the sixth consecutive month. In August, credit card users spent ₹1.13 lakh crore in August, down from ₹1.17 lakh crore in July. This is despite a decline of 2 million in terms of active credit cards in August – the fall is due to RBI’s new guidelines. Trends suggest that people will continue to swipe more credit cards and their spending will hit the ₹1.2 lakh crore mark in September. The spends in September are expected to be buoyed by festive sales across e-commerce and offline retail platforms, after ecommerce spends fell in August. “Upcoming e-com festive sales (Big Billion day and Great Indian Festival) are likely to revive the e-com mix (% of total spends) back to Apr-Jul '22 levels,” said a report by <keyword id="46909" type="General" weightage="80" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword>. A rise in prices and Indians’ love for travel has set the perfect tone for an increase in overall credit card outstandings. “Revival in air travel, hospitality sector as well as increasing inflation outlook set a positive backdrop to credit card spend as well as receivables,” the report added. Indians being tired of not going out anywhere for two years due to the Covid-19 pandemic has helped boost demand in the hospitality sector, according to a report by ratings agency CARE. “FY22 has been a promising year for the sector wherein the revival in the occupancy and RevPAR has led to green shoots for the industry players. The decline in Covid cases, resumption of international flights from March 2022, and strong leisure and wedding demand are the positive factors that should lead to growth in occupancy and ARRs in FY23,” the CARE report said. Dues per card continued their upward trajectory, too. “Receivables, in terms of CC outstanding per CIF at industry level, have trended from ₹18,000 as of December 2021 to ₹20,100 for January to May 2022 and increased to ₹20,300 in July 2022,” the ICICI Securities report added. <cmsannotation type="cmsannotation" annotationid="Here’s a snapshot of the Indian credit card industry" comment="subhead" text="Here’s a snapshot of the Indian credit card industry">Here’s a snapshot of the Indian credit card industry</cmsannotation> <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> continues to lead the market in total credit cards and spends. <div type="image" title="Credit Card market share August 2022." msid="94537974" hostid="261" caption="&amp;lt;p&amp;gt;Credit card market share August 2022&amp;lt;/p&amp;gt;"></div> However, SBI Card is closing the gap in terms of credit cards in force. <div type="image" title="Credit cards in force trend Jan-Aug 2022." msid="94537984" hostid="261" caption="&amp;lt;p&amp;gt;Credit cards in force&amp;lt;/p&amp;gt;"></div> Despite accounting for only 21% of the total credit cards in use, HDFC Bank users spent 29% of the total money. <div type="image" title="Credit card spends market share August 2022." msid="94537997" hostid="261" caption="&amp;lt;p&amp;gt;Credit card spends market share August 2022&amp;lt;/p&amp;gt;"></div> As far as spends are concerned, HDFC Bank continues to go from strength to strength. <div type="image" title="Credit card spends per card trend Jan-Aug 2022." msid="94538006" hostid="261" caption="&amp;lt;p&amp;gt;Credit card spends per card trend&amp;lt;/p&amp;gt;"></div> However, HDFC Bank credit card users aren’t the most lavish spenders – and two unassuming names are in a tug of war when it comes to this. <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-has-most-valuable-credit-cardholders-in-india-compared-to-hdfc-sbi-citi/articleshow/91784122.cms">IndusInd Bank was once the leader in this metric</a> – it was<a href="https://www.businessinsider.in/finance/banks/news/indians-love-for-travel-is-so-strong-that-its-boosting-credit-card-spends/articleshow/93859780.cms"> dethroned by Bank of Baroda in July</a> – and now it has won back its throne again. <div type="image" title="Credit card value per card August 2022." msid="94538034" hostid="261" caption="&amp;lt;p&amp;gt;Credit card value per card&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-greens-54-rally-tempts-totalenergies-to-book-profits/articleshow/94529227.cms">Adani Green’s 54% rally this year tempts TotalEnergies to book profits</a> <a href="https://www.businessinsider.in/retail/news/jewellery-chains-are-growing-at-the-cost-of-standalone-jewellers-and-its-only-going-to-get-worse-says-world-gold-council-report/articleshow/94510142.cms">Jewellery chains are growing at the cost of standalone jewellers – and it’s only going to get worse, says World Gold Council report</a> <a href="https://www.businessinsider.in/business/telecom/news/amid-concerns-of-jio-airtel-duopoly-analysts-suggest-new-telecom-bill-empowers-govt-to-maintain-competition/articleshow/94502923.cms">Amid concerns of Jio-Airtel duopoly, analysts suggest new telecom bill empowers govt to maintain competition</a>

E-commerce sales likely to drive credit card spends in September even as active cards decline

<ul><li><keyword id="5951789" type="General" weightage="20" keywordseo="co-branded-credit-cards" source="Orion">Co-branded credit cards</keyword> are offered by banks in partnership with popular brands that offer unique rewards and benefits tailored to specific interests.</li><li><keyword id="6746898" type="General" weightage="20" keywordseo="cardholders" source="Orion">Cardholders</keyword> can enjoy exclusive discounts, promotions, and faster rewards redemption, making these cards more rewarding than standard ones. </li><li>Evaluate the benefits offered by a co-branded credit card by carefully considering your spending habits, preferences, and the specific rewards and perks provided by the card.</li></ul>Like many Millennials, Reena Singh wants to pick a credit card but is spoilt for choice as there are several options to choose from. There are travel cards that promise air miles and then there are <keyword id="6967577" type="General" weightage="20" keywordseo="shopping-cards" source="Orion">shopping cards</keyword>, which can help her save money on shopping. Finally, there are cards that will help her save money every time she eats out and earn loyalty points too. As a consumer, it can be very confusing to choose the right card. From travel enthusiasts to avid shoppers, they cater to diverse lifestyles. But with a plethora of options available, making an informed choice is crucial. Business Insider dived deep into the world of rewards and found some key factors that consumers should consider while choosing a card. <cmsannotation type="cmsannotation" annotationid="How co-branded credit cards work" comment="Subhead" text="How co-branded credit cards work">How co-branded <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> work</cmsannotation> Co-branded credit cards offer personalised benefits tailored to lifestyles of users, which include discounts and offers aligned with the partnering brand. They integrate with loyalty programs for faster reward collection. These perks enhance the overall cardholder experience. Cardholders can enjoy exclusive discounts, promotions, and faster rewards redemption, making these cards more rewarding than standard ones. “Additionally, co-branded cards foster brand loyalty, especially with travel-related perks, everyday expense savings like fuel discounts, and access to exclusive products, all enhancing the overall customer experience,” says Gaurav Chopra, Founder and CEO of IndiaLends, an online marketplace for credit products. Here, we will look at four popular co-branded credit cards, how they work and whether they make sense for you based on your lifestyle. Evaluating any co-branded credit card on these parameters will help you make an informed decision. <cmsannotation type="cmsannotation" annotationid="Amazon Pay ICICI Bank credit card" comment="subhead" text="Amazon Pay ICICI Bank credit card">Amazon Pay ICICI Bank credit card</cmsannotation> The Amazon Pay ICICI Bank Credit Card offers several advantages for frequent Amazon shoppers. It provides robust cashback rewards on Amazon purchases, offering up to 5% cashback for Prime members and 3% for non-Prime members. Additionally, it offers other benefits like three- months prime membership at no cost and cashback offers on prepaid recharge, postpaid bill payments, electricity bill payment, gas cylinder payment and so on. There are no joining or annual fees. However, it does have some disadvantages. The cashback is primarily beneficial for Amazon shopping, and the rewards structure may not be as competitive for other spending categories. The card also lacks travel and lifestyle benefits commonly found in premium credit cards. Whether one should go for it depends on their spending habits. If you're a frequent Amazon shopper and value cashback rewards, it's a good choice. However, if you're looking for a more versatile card with broader benefits, you may want to consider other options. <cmsannotation type="cmsannotation" annotationid="Swiggy HDFC Bank credit card" comment="subhead" text="Swiggy HDFC Bank credit card">Swiggy HDFC Bank credit card</cmsannotation> The Swiggy HDFC Bank Credit Card is tailored for passionate food enthusiasts, especially those who frequently indulge in food delivery and dining out experiences. Its advantages include enticing rewards on dining expenditures, encompassing both online and offline transactions, with a substantial focus on Swiggy orders. Cardholders can enjoy 10% cashback on the Swiggy application (food ordering, Instamart, Dineout and Genie) and 5% cashback with certain category merchants, and 1% cash back on other categories, making it an especially appealing choice for foodies. However, it's essential to consider the card's limitations, primarily its narrow utility, as its benefits primarily revolve around food-related expenses. If you aren't a regular diner or Swiggy user, the card's value proposition may be limited. Therefore, your decision to opt for this card should align with your dining habits and lifestyle to maximise its advantages effectively. <cmsannotation type="cmsannotation" annotationid="IndianOil Axis Bank credit card" comment="subhead" text="IndianOil Axis Bank credit card">IndianOil Axis Bank credit card</cmsannotation> The IndianOil Axis Bank Credit Card is tailored for individuals who frequently use fuel services and desire to maximise their savings at IndianOil outlets. Its advantages are evident, with fuel benefits such as a 4% cashback on fuel expenses at IndianOil pumps, along with a 1% fuel surcharge waiver. The card also extends its rewards to dining and online shopping, with 15% discount at partner restaurants and 1% value back at online shopping with 5 reward points on every ₹100 spent. Furthermore, you can get 10% off on booking movie tickets with bookmyshow.com. However, this card's utility is primarily focused on fuel-related benefits, potentially limiting its appeal for those who do not own a vehicle or have alternative fuel preferences. Before acquiring the IndianOil Axis Bank Credit Card, ensure that your fuel expenditures align with the card's rewards structure. <cmsannotation type="cmsannotation" annotationid="Standard Chartered EaseMyTrip Credit Card" comment="subhead" text="Standard Chartered EaseMyTrip Credit Card">Standard Chartered EaseMyTrip Credit Card</cmsannotation> The Standard Chartered EaseMyTrip Credit Card caters to avid travellers, offering numerous advantages. You can get a 20% instant discount on your domestic and international hotel bookings, saving up to ₹5000 and ₹10000, respectively. For your flight reservations, there's a flat 10% discount available, with maximum savings of ₹1000 for domestic flights and ₹5000 for international flights. Additionally, if you're planning a bus trip and your ticket costs over ₹500, you can enjoy a discount of ₹125. You also get to enjoy one domestic lounge access per calendar quarter and two international lounge access per year. The card's reward program allows users to earn 10x rewards on every ₹100 spent at standalone hotel and airline websites/apps/outlets. Before getting the Standard Chartered EaseMyTrip Credit Card, it's crucial to evaluate your travel habits and determine if the benefits outweigh the annual fee, especially if you're a frequent traveller looking to maximise savings on your journeys. <cmsannotation type="cmsannotation" annotationid="How to pick a co-branded credit card" comment="Subhead" text="How to pick a co-branded credit card">How to pick a co-branded credit card</cmsannotation> Evaluate the benefits offered by a co-branded credit card by carefully considering your spending habits, preferences, and the specific rewards and perks provided by the card. “The value of a co-branded credit card depends on how well the rewards and benefits align with your lifestyle and preferences,” says Adhil Shetty, CEO, BankBazaar, an online financial marketplace. It's important to choose a card that complements your spending habits and offers benefits you'll actually use. To assess a co-branded credit card, analyse spending in categories like groceries, dining, and travel. Consider rewards, bonuses, and redemption options. Ensure that benefits outweigh the annual fee, maximising value from the card based on your spending habits and needs.

Do co-branded credit cards actually help you save money?

<ul><li>Some credit cards have a joining fee, but the welcome offers that one gets may make the joining fee worthwhile. </li><li>In some cards, one can get the joining fee waived off if one <keyword id="52705" type="General" weightage="20" keywordseo="spends" source="Orion">spends</keyword> a certain amount of money within a given time. </li><li>Before getting a <keyword id="6368202" type="General" weightage="20" keywordseo="credit-card" source="Orion">credit card</keyword>, it is important to understand the reward and redeeming structure. </li></ul>Credit cards are like a double-edged sword. If used wisely, they can bring a lot of benefits. But when not used judiciously, they can become a burden. With such a lot of options available, it is often difficult to find the right credit card, as every credit card comes with its own set of offers. We picked 5 credit cards for you across types and spending categories, that you can take a look at if you are planning to go for a new credit card. HDFC Infinia Credit Card Metal Edition For a joining/renewal fee of ₹12,500 this metallic card offers a range of benefits. You may enjoy complimentary nights and buffet offers at select ITC hotels along with a first-year Club Marriott membership that grants up to 20% discounts on dining and stays in the Asia-Pacific region. Plus there is unlimited access to <keyword id="1937199" type="General" weightage="20" keywordseo="airport-lounges" source="Orion">airport lounges</keyword> worldwide for both primary and add-on members. You can earn 5 reward points for every ₹150 spent and relish a 1+1 complimentary buffet at participating ITC hotels when you book a 3-night stay. Moreover, there are perks like unlimited complimentary golf games and coaching at various courses in India and globally. You can also benefit from a low 2% markup fee on foreign currency transactions. The card provides round-the-clock global personal concierge services, offering assistance for golf bookings, itinerary planning, private dining, international gift delivery, event planning, airport VIP services, and more. Amazon Pay ICICI Bank Credit Card The Amazon Pay Credit Card has some great offers especially if you shop on Amazon. It does not have any joining fees or annual charges. Also, <keyword id="45593" type="General" weightage="20" keywordseo="rewards" source="Orion">rewards</keyword> accrued using this card come without any limit or expiration. These rewards, earned through transactions, hold significant flexibility, allowing their use across a vast selection of over 10 crore products on<a href="http://www.amazon.in/"> www.amazon.in</a> and at more than 100 associated merchant partners. Prime members of Amazon can get a 5% <keyword id="470101" type="General" weightage="20" keywordseo="cashback" source="Orion">cashback</keyword> on transactions executed at<a href="http://www.amazon.in/"> www.amazon.in</a> when utilising this card, while non-Prime customers still benefit, earning a 3% cashback on similar transactions. Additionally, cardholders receive a 2% cashback when engaging with over 100 Amazon Pay merchant partners via this card. For all other payments, a 1% cashback is assured, on the top of any existing offers. Importantly, these earnings materialise as an Amazon Pay balance, so that they can be redeemed easily. SBI Card Elite At a joining/renewal fee of ₹4,999 this credit card offers various benefits. Users receive a welcome e-Gift Voucher worth ₹5,000, applicable across various travel and lifestyle brands. Additionally, they enjoy annual free movie tickets, earning up to 50,000 bonus reward points yearly, with extra points for specific spending milestones. The card provides 5X reward points on dining, departmental store, and grocery purchases, and 2x reward points on other expenses, excluding fuel. Cardholders gain access to the priority pass program, including international and domestic airport lounge visits. Furthermore, they receive Club Vistara Silver membership, earning points for flight spends and receiving an upgrade voucher. The card offers low foreign currency mark-up charges of 1.99% and rewards for international transactions. Specialised assistance for flower and gift delivery, along with online doctor consultations, is also provided. Axis Bank ACE Credit Card The Axis Bank ACE Credit Card has a joining fee of ₹499 which is waived off if you spend more than ₹10,000 in the first 45 days of card issuance . It entitles users to unlimited cashback on various expenditures. There is a 5% cashback on utility bill payments made through Google Pay and a 4% cashback on orders placed through Swiggy, Zomato, and Ola. For all other expenses, there is a 2% cashback. Moreover, cardholders enjoy complimentary access to domestic airport lounges, providing up to four free visits annually. The card further grants a fuel surcharge waiver, enabling a significant 1% waiver on fuel transactions at Indian fuel stations, applicable for transaction amounts ranging from ₹400 to ₹4,000. The maximum monthly benefit is capped at ₹500. Standard Chartered Manhattan Credit Card This credit card has some cool reward points for shopping. Upon payment of the joining fee of ₹999, cardholders receive a welcome with 5,000 reward points, kicking off their rewards journey right from the start. For those frequenting supermarkets, the card offers an attractive 5% cashback deal, subject to certain conditions and caps. You can also get 15% off on e-vouchers of top brands and 25% discount at Easemytrip till 31 January, 2024. Additionally, every expense adds up in the form of reward points. Cardholders earn 3X reward points for every ₹150 spent on all other transactions, allowing them to accumulate points swiftly and effortlessly across various purchases, beyond the specified categories. They can redeem these points for products at the 360 Degree Rewards portal. Furthermore, the card provides an opportunity for renewal fee reversal. By spending ₹1,20,000 in a year, users can enjoy the benefit of having the renewal fee waived off.

Five credit cards offering year-end schemes for shopping and travelling

<ul><li><keyword id="470101" type="General" weightage="20" keywordseo="cashback" source="Orion">Cashback</keyword> is when consumers get a percentage of the transaction amount credited back to their account.</li><li>Depending on the provider, many <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> give a certain percentage cashback on each purchase. </li><li>Choosing a credit card that aligns with your spending habits and preferences helps maximise benefits. </li></ul>Credit cards come with several features to make them attractive. One of them is cashback on <keyword id="6380337" type="General" weightage="20" keywordseo="expenses" source="Orion">expenses</keyword>. The concept of cashback became mainstream in 1986 when Discover Financial Services, a division of Morgan Stanley, launched a credit card which had a cashback bonus on certain purchases. “Cashback is when consumers make purchases using their credit cards, and a percentage of the transaction amount is credited to their account. It's a transparent way for consumers to enjoy real benefits based on their spending. Depending on the provider, every card gives a certain percentage cashback on each purchase,” says Gaurav Chopra, founder and CEO of IndiaLends. In most cases the cashback is credited to your credit card account and is then adjusted with the next bill. Here are five credit cards that are offering healthy cashbacks, keeping in mind that one is approximately going to spend a lakh. Cashback SBI Credit Card This card offers 5% cashback on online <keyword id="52705" type="General" weightage="20" keywordseo="spends" source="Orion">spends</keyword> and 1% cashback on offline spends. If you spend ₹20,000 online and the rest offline, the annual cashback received is ₹21,600. HDFC Millenia Credit Card This card offers a 5% cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato and a 1% cashback on other spends. Assuming a breakup of ₹20,000 and ₹80,000 every month, the annual cashback comes to ₹21,600. Axis Bank Ace Credit Card It offers 5% cashback on bill payments, 4% cashback on Swiggy , Zomato and Ola and 2% cashback on all other spends. Let us assume a spend of ₹10,000 on bill payments and categories with 4% cashback and , and ₹90,000 on other spends every month, cashback during the year comes to ₹20,400. ICICI Amazon Pay Credit Card For prime members this card offers 5% cashback on spends on Amazon India, 2% cashback on Amazon Pay payments, 1% cashback on other expenses. Assuming you spend ₹10,000 on Amazon India, and ₹20,000 and ₹70,000 through the other means, it results in a cashback of ₹19,200 annually. Standard Chartered Smart Credit Card The card offers 2% cashback on online spends and 1% on all other spends. Assuming you spend ₹50,000 online and ₹50,000 otherwise every month, the cashback for the entire year is ₹18,000. Make the right choice Many credit cards in India offer enhanced rewards or cashback for specific categories such as dining, groceries, fuel, or online <keyword id="6368952" type="General" weightage="20" keywordseo="shopping" source="Orion">shopping</keyword>. “Tailor your spending to maximise rewards in these categories. Choose a credit card that aligns with your spending habits and preferences to maximise the benefits,” says Adhil Shetty, CEO, BankBazaar, a financial marketplace. For example, if your card provides higher cashback on fuel, use it for fuel purchases. If it offers extra rewards on online shopping, make your online purchases using that card. For example, you can order your groceries online instead of buying them from a store. However, to truly benefit from cashback and rewards, it's essential to pay your credit card bill in full and on time. Late payments can result in hefty interest charges that may outweigh the value of any rewards earned.

Five credit cards that offer the best cashback programs if you spend ₹1 lakh

In the current landscape of increasing disposable income and a surge in point-of-sale transactions on e-commerce platforms, the usage of credit cards has experienced a notable upswing. A glance at the Reserve Bank of India’s data reveals a consistent rise in credit card spending that has been reaching new highs each month. Leveraging these insights into customer behaviour trends, <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> has identified opportunities and strategically introduced suitable credit products. Among these innovations, the Paytm co-branded credit cards stand out – offering customers lucrative discounts on various categories, including travel and movie tickets. Currently, Paytm has forged valuable partnerships with HDFC Bank and SBI Card, two of India’s leading credit card issuers. These collaborations not only generate substantial upfront distribution revenue but also establish a steady lifetime usage fee stream. Users can access these exclusive cards by applying on <a href="https://paytm.com/loans-credit-cards/credit-cards/">the Paytm app</a>. Paytm’s co-branded credit card business has grown significantly both in terms of new card issuances as well as spends. As of June 2023, Paytm boasts of an impressive count of 7.5 lakh activated credit cards, marking an increase of 1.6 lakh cards in the quarter. This trend is expected to grow, fuelled by the robust potential of cross-selling among Paytm’s extensive user base, many of whom have already taken loans through their platform. During the earnings call for Q1FY24, Paytm’s Founder and CEO Vijay Shekhar Sharma, underscored the instrumental role played by banks and NBFCs in ensuring easy credit availability for customers. He also believes there is a huge portion of customers still pending to come on board. “You can see the growth in the credit card spends, you can see the growth on BNPL equivalent, whether it is a large ticket or a small ticket on the counter is the growth direction. While the debit side has plateaued is not what I would say. There is a large customer base still pending to come on board. But definitely, credit is adding the flare of extra revenue and it will add to the net bps margin continuously,” said Sharma. Moreover, Sharma envisions a future where credit may become a choice of payment for many. “India is at the cusp of the next payments revolution where credit will become the mainstream payment choice. Our users are already savvy on QR code-based payments and with RuPay credit cards working on UPI QR codes, transactions through mobile phones will get a further boost, marking a new era in digital payments,” he had said during the launch of Paytm SBI Credit Card. Notably, the credit card industry in India remains largely under-penetrated, offering huge opportunities for market penetration and expansion. The landscape is open for astute players like Paytm who are poised to redefine and elevate the credit card experience for the Indian consumer. Disclaimer : This article has been reproduced from Paytm's blog. The opinions expressed are those of the organisation and do not necessarily reflect the views of Business Insider India. For further details, you can get in touch with our team on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Paytm’s growing leadership in credit ecosystem – co-branded credit cards at 7.5 lakh

In line with the RBI guidelines, <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> is offering its customers EMI moratorium and credit card outstanding moratorium as a relief measure. We understand in this current situation there may be disruptions in business leading to low cash flows or the earnings of individuals and self-employed professionals may have been impacted. Our aim through implementing this relief package is to ensure that you can continue to take care of your family, your business and your own self and tide over this temporary situation,” the bank said in a statement. Here are the FAQs and complete details of the EMI moratorium package and ways to avail of it. 1. What is the EMI moratorium provided for loans under COVID 19 - regulatory package? The prevailing situation may pose a huge challenge for people at large. As a measure of solidarity, RBI permitted all Indian banks and financial Institutions to offer its customers up to 3 months moratorium on their EMI payments falling due between Mar 1st, 2020 to May 31st, 2020. 2. Who is eligible? All HDFC Bank customers who have availed of retail instalment loan or any other retail credit facilities prior to 1st March 2020 are eligible. Customers having overdues prior to 1st March 2020 may also opt for the moratorium, and their requests shall be considered by the bank based on its merits. All Agri Loans (Kisan Gold Card) and Microfinance customers under the Bank’s Sustainable Livelihood Initiative are also eligible. All Corporate as well as SME customers are also eligible. The bank’s relationship managers will get in touch with you or you can contact them to get further details. 3. What will happen if I choose the EMI Moratorium? Bank will not ask for any EMI Payment till May 31st 2020. Interest will continue to accrue on the principal outstanding for the period of the moratorium at the contracted rate of the loan.The loan tenure will get extended by the corresponding period for which the moratorium has been availed. For example, if the EMI for the month of Mar’2020 has been paid and moratorium for April and May’2020 has been availed, then the loan tenure will be extended by 2 months. 4. If I do not want the EMI moratorium, what should I do? If you do not want the EMI moratorium, no further action is required from your side. We will continue to bank your repayment instructions. We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension. However, if you skip your EMI payment during this period, it is understood that you require EMI moratorium till May 2020. 5. Why was my account debited when the RBI has announced a moratorium? Opting for the moratorium is entirely the customers’ choice. We understand that all our customers may not opt for the moratorium given that there is an additional levy of interest payable under the terms of the moratorium. If you wish to opt for the moratorium, banks can refund the EMI debited and register your loan account under the moratorium process. 6. What charges will I pay, if I avail of this EMI moratorium? If you avail the EMI moratorium, there will be a levy of interest at the contracted rate of the loan for the period of EMI moratorium on the loan outstanding. Such interest will be collected by extending the original tenor of the loan accordingly. 7. How do I get this EMI moratorium? You will have to provide your consent to the bank through any of the following ways:- Call on this number and follow the instructions – 022-50042333, 022-50042211 , 8. I have more than one loan from HDFC Bank (Eg. Personal Loan &amp; Car Loan). Can I get EMI moratorium for both the loans? Yes, you can opt for an EMI moratorium for each loan that you have availed from us. Please remember that additional interest for the EMI moratorium period will be applicable for each loan separately. 9. What if I have already paid my EMIs and would like to avail the moratorium till 31st May 2020? You can avail of the moratorium benefits for the unpaid EMIs. Please follow the process given above for availing the moratorium 10. Does the moratorium affect my Credit Rating? No. Opting for the EMI moratorium will not affect your Credit Rating or Score. 11. Does this moratorium apply for Credit Card outstanding and Loans on Credit Cards? Yes, the moratorium is available on Credit Card outstanding and Loans availed on Credit Cards for payments due from 01 Mar 2020 till 31 May 2020. The moratorium allows you to defer the payment till 31 May 2020. You are required to pay the minimum amount due or total outstanding and accrued interest charges on the due date after 31st May 2020. 12. Are all credit card customers eligible for this moratorium? Yes. All retail credit card customers will be deemed eligible for the moratorium if they are regular with their payments on or before 01st March'20 on their credit card outstanding and loans taken on the credit card 13. How do I avail the credit card moratorium? To avail the credit card moratorium, (a) voluntarily defer paying the outstanding during this period i.e. make NIL payment (b) turn off Auto Pay (in case the same is currently availed) through net banking / mobile banking to avail the benefit of the moratorium and reactivate the same post the end of moratorium period. 14. Will interest be levied for the moratorium period on my credit card outstanding and loan on credit cards? Yes, interest will be levied as per the contracted rate on the card. Opting for a 3-month moratorium allows you to defer the payment of your credit card dues and loan instalments taken on credit cards till 31st May 2020. We encourage customers to make full payments towards the outstanding wherever possible to avoid / minimise levy of interest charges for this period. Kindly note that the moratorium is a deferment of payment and not a waiver of interest. You are required to pay the minimum amount due or total outstanding along with accrued interest charges on the due date after 31st May 2020. The moratorium is applicable for credit facilities availed in India. See Also - <a href="https://www.businessinsider.in/india/news/how-to-avail-three-month-moratorium-for-icici-bank-emi-and-credit-cards/articleshow/74941936.cms">How to avail three-month moratorium for ICICI Bank EMI and credit cards</a>

Can I defer my credit card payments and FAQs on HDFC Bank’s moratorium process answered

<ul><li>The Reserve Bank of India announced a three-month debt moratorium due to the Coronavirus pandemic.</li><li>While customers can defer their EMIs and loan repayments during this period, interest will still be charged.</li><li>SBI has enabled the moratorium facility for its customers.</li></ul>The Reserve Bank of India on March 27 announced a <a href="https://www.businessinsider.in/finance/news/home-loans-education-loans-and-business-loan-interest-payments-deferred-for-three-months-by-rbi/articleshow/74841767.cms">three-month moratorium facility</a> on personal, car, home and other loans due to the ongoing Coronavirus pandemic. State Bank of India is now allowing its customers to apply for the moratorium facility. Customers of SBI that have a term loan such as a personal loan, car loan, two-wheeler loan or if those who have availed working capital facilities such as cash credit or overdraft, can apply for the 3-month moratorium. Credit card users and debit card users who have EMIs can also apply for this moratorium. What is a debt moratorium? Debt moratorium is a temporary suspension on the payment of loans. When you apply for a debt moratorium offered by your bank during the ongoing Coronavirus crisis, your payments will be postponed during the moratorium period. According to RBI guidelines, the debt moratorium period is from March 1 to May 31, 2020. During this period, customers who have opted for this facility will not have to pay any instalments or dues. However, interest will still be applicable, so it is advisable that you opt in for moratorium only if it is necessary. Customers who do not wish to avail moratorium If you do not have any issues with paying your instalments and do not wish to avail the moratorium facility, no action is required on your part. Payments will continue as usual. How to avail moratorium for <keyword id="7849940" type="UNKNOWN" weightage="20" keywordseo="sbi-emi">SBI EMI</keyword> and credit card If you want to avail moratorium facility, follow the below steps: <div type="image" title="Annexure - I" msid="74945181" hostid="261"></div> <ul><li>Go to State Bank of India’s <a href="https://www.sbi.co.in/stopemi">Stop EMI website</a> to download the Annexure – I form or use the below link.</li><li>Download Annexure – I from <a href="https://www.sbi.co.in/documents/127/0/01042008-AnnexureI.pdf/fc509478-f0af-d882-1cf4-5190bac70d0c?t=1585753371707">here</a>.</li><li>Fill the form and send it in an email to the specified email ID as per <a href="https://www.sbi.co.in/documents/127/0/01042008-AnnexureII.pdf/48c14bb2-d9ce-76e6-6052-69c27368a612?t=1585753386871">Annexure – II</a>.</li><li>If you have given standing instructions to SBI for payment of instalments or EMI, you can also send a handwritten application in the same format to your home branch.</li></ul>How to get refund if you have already paid your instalment or EMI If your instalment or EMI for the moratorium period has been debited, you can apply for a refund using the Annexure – I form and sending it to the specified email ID as per Annexure – II. See also: <a href="https://www.businessinsider.in/india/news/how-to-avail-three-month-moratorium-for-icici-bank-emi-and-credit-cards/articleshow/74941936.cms">How to avail three-month moratorium for ICICI Bank EMI and credit cards</a> <a href="https://www.businessinsider.in/finance/news/hdfc-bank-emi-moratorium-process-requirement-and-condition/articleshow/74943546.cms">Can I defer my credit card payments and FAQs on HDFC Bank’s moratorium process answered</a> <a href="https://www.businessinsider.in/finance/news/home-loans-education-loans-and-business-loan-interest-payments-deferred-for-three-months-by-rbi/articleshow/74841767.cms">No EMI payments for home, car, and corporate and other loans for 3 months says RBI</a>

How to avail three-month moratorium for SBI EMI and credit cards

The choice of credit cards available is huge and each of them comes with unique features, advantages and disadvantages. As a user, it is important that when you are opting for a credit card, you look for one that matches your requirements. 
 
Having said that there are certain basic features that can help a customer in deciding which is good or a bad choice when it comes to getting the right card for you; these features are: 
 
 Annual Fees 
Finances Charges, late fee charges etc 
Ease of application/bill payment 
Co-branding in some cases 
Customer Service 
Reward Points 
 
All the above factors must be given the importance they deserve, you might want to think before you take a card with nil annual fees if its other charges are too high or it does not make a lot of sense to focus only on reward points 
 So keeping the above in mind we bring you a list of five cards (in no order of preference) which we feel are a great option when you plan your shopping this <keyword id="6363803" type="UNKNOWN" weightage="20" keywordseo="Easter">Easter</keyword>. 
 
1. Standard Chartered Platinum Rewards Card 
The card has an entry fee of Rs. 399, no annual fee; from second year onwards there is a renewal fee of Rs. 750 levied. First year onwards a free supplementary card is available; there is multiple card fee of Rs. 750 charged. The joining and annual fee is waived off if the application is made online. The card allows you to earn 5 reward points/Rs 150 spent at fine dining outlets, hotels and spent on fuel; Rs 2/150 is earned on all other categories. 
 
The X Factor: No annual charges if applied online and attractive reward structure. 
 
2. ICICI Instant Platinum Credit Card: 
This card can be a great hit for somebody looking to get a card instantly or looking at repairing their credit score. This card is issued by the bank instantly against a fixed deposit with them at over 2000 branches. Free supplementary card is available if so desired by the applicant. No joining and no annual fees for this card which again is big positive. The card holder earns Rs. 3 for each Rs. 100 spent. 
 
The X Factor: Instant availability with no annual or joining fee. 
 
3. Citibank Rewards Card 
The annual fee for the card is nil if the card holder spends more than Rs. 30,000 a year and if the spending is below that then the annual fee is Rs. 1000. No fee for an additional card is charged. The card holder can earn 10 points for each Rs. 125 spent in department stores and on apparel, Rs. 1/125 spent on other expenditure. The user also gets Rs. 2500 on card activation. 
 
The X Factor: An attractive reward structure with an option to redeem points at 700 outlets and e-shopping partners. 
 
Comparison Chart of Various Charges 
<table border="0" cellpadding="0" cellspacing="0" width="665">
	<tbody>
		<tr>
			<td>
				Card Type</td>
			<td>
				ATM Withdrawal </td>
			<td>
				Late Payment </td>
			<td>
				Monthly Interest &amp; APR</td>
		</tr>
		<tr>
			<td>
				Standard Chartered Platinum Rewards </td>
			<td>
				3% of the amount or minimum of Rs. 300, at branch Rs 500 extra</td>
			<td>
				Rs 100 to Rs 800.</td>
			<td>
				3.1 % &amp; 37.0%</td>
		</tr>
		<tr>
			<td>
				ICICI Instant Platinum</td>
			<td>
				2.5% on cash advance amount or a minimum Rs. 300.</td>
			<td>
				None to Rs. 700.</td>
			<td>
				2.49% &amp; 29.88%</td>
		</tr>
		<tr>
			<td>
				Citibank Rewards</td>
			<td>
				2% of the amount withdrawn, subject to Rs 300 and US $ 7.5 at international ATMs.</td>
			<td>
				Rs 300 to Rs. 700.</td>
			<td>
				3.25% &amp; 39%</td>
		</tr>
		<tr>
			<td>
				HSBC Platinum</td>
			<td>
				2.5% of the transaction amount subject to 
				a minimum of Rs. 300.</td>
			<td>
				50% of the MAD, min of 400 &amp; max of 750 </td>
			<td>
				3.3% &amp; 39.6% </td>
		</tr>
		<tr>
			<td>
				HDFC Bank Solitaire</td>
			<td>
				2.5% of the amount withdrawn or Rs. 300 whichever is higher</td>
			<td>
				Nil to Rs. 600</td>
			<td>
				3.4% &amp; 40.8%</td>
		</tr>
	</tbody>
</table>
 
4. HSBC Platinum Card 
HSBC Platinum credit cards come with no joining or annual fees. There is special cash back offer running from 1/1/2016 to 30/6/2016 where if the card holder spends Rs. 10000 within first 90 days he will get cash back of Rs. 3000. There must be at least 3 transactions per month. Reward structure includes 2 points earned for every Rs 150 spent and extra points if shopping is done at some special listed partners. 5 times reward points earned if amount spent crosses Rs. 400,000. 3 times reward points are available for expenditure at dining and telecom outlets made within first 12 months. 
 
The X Factor: No joining fee and special ongoing cash back offer. 
 
5. <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword> Solitaire Credit Card 
This is a card specially designed for women. The card comes with an annual fee of Rs. 999, which can be waived if Rs. 10000 is spent within first 90 days; add on card is free. For every Rs. 150 spent the customer earns 3 reward points; 50% more reward points are available for dining and grocery. On spending Rs. 75000 within 6 months the card holder gets a voucher of Rs. 1000 from Shoppers Stop; there is cash back option of Rs 4000 available if Rs. 500,000 is spent 
The X Factor: The card has zero lost card liability and lots of offers for frequent shoppers. 
 
Irrespective of the card being used, it is important that one uses it responsibly keeping in mind their repayment capacity. Enjoy your Easter shopping but don’t go overboard. 
 
All the information has been collected from the card issuer’s website. 
 
(Rajiv Raj is the Director and Co-Founder of <a href="http://www.creditvidya.com/">www.creditvidya.com</a>) 
Image Courtesy: ThinkStock

5 best credit cards to shop with this Easter

Petrol pump owners have reversed their decision after they threatened to stop accepting credit and debit card payments,. Earlier, the owners of fuel stations had threatened to stop accepting cards as banks had decided to levy transaction fee of upto 1%. However, after the Centre stepped in, pump owners have now decided to defer the decision by four to five days. 
 According to the sources, the government has assured the dealers that the merchant discount rate or MDR fee won't be applied till January 13. The intervention came after the petroleum dealers' association had written to Union finance minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, informing him about the sudden decision by the banks to levy the transaction charge and their resolution to refuse card payments. 
 Fuel pump owners had decided to discontinue accepting plastic money from Monday to protest against <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword>’s merchant discount rate (MDR) levy. 
 “HDFC Bank has made the first move to charge MDR for every transaction made using plastic money. About 75 per cent of petroleum dealers have HDFC Bank’s Point of Sale (PoS) terminals. HDFC Bank has made the first move to charge MDR for every transaction made using plastic money,” <keyword id="683434" type="PERSON" weightage="20" keywordseo="Ravi-Shinde">Ravi Shinde</keyword>, president of Petrol Dealers’ Association, told ET. 
 
The decision by fuel dealers could have hit the consumers as well the government's efforts to push cashless transactions amid a nationwide cash shortage following the scrapping of Rs. 500 and 1,000 rupee notes. 
 "We want to help the government in the digital and cashless drive. Our margins are already less. We want them to compensate us," <keyword id="267028" type="PERSON" weightage="20" keywordseo="Ajay-Bansal">Ajay Bansal</keyword>, chief of All-India Petroleum Dealers' Association, told ET. 
 The pumps have been notified that 1% charge will be levied on all credit card transactions and between 0.25% and 1% on all debit card transactions from January 9, 2017. The banks have quoted a circular issued by the <keyword id="50847" type="CITY" weightage="20" keywordseo="Reserve-Bank">Reserve Bank</keyword> on December 16 as the reason for the extra charges, the letter said. It went on to add, "Banks are using this as an excuse to improve their bottom line through transactions at fuel stations."

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