Dining Movie & play spends card from Kotak credit cards

Kotak Mahindra Bank has launched a credit card which offers 10% cash back on dining and movie and play spends.  This cashback facility is offered throughout the year, the bank said in a statement.

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This credit card called Kotak Trump Card extends this cash back facility in all restaurants , fast food joints, pubs, bars and movie theatres, the bank added. The card doesn’t charge any interest to the customer for the first three months. Similarly, any purchase above Rs 5,000 can be converted into EMIs

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Travel Credit Cards

A travel card is like having cash with you everywhere and that cash is acceptable almost every part of world. And you don't need to convert the cash after going to conventional money exchange centers. And travel credit cards are offered for this purpose to the travelers and tourists. They are easy to use and the tourist and traveler can also earn different types of points and rewards on these cards on every purchase. And afterwards he can use these travel rewards in his tour or he can take back these rewards in the shape of cash.

 Credit Cards  during  foreign  travel - Points one  must take care

Hence a travel credit card also serves as travel reward card and a tourist or traveler can use this travel reward which he gets from different ways in his shopping and in air mile discounts. The best travel credit card which has travel credit is either travel mastercard or travel visa cards because of the fact that American Express Travel credit card is not acceptable everywhere in the world.

Most ATM machines have the MasterCard and Visa Card logos so it is easy for the traveler to use these cards and get rewards if he's using travel reward credit card. He can simply use these rewards later on in his journey to get points or to get discount.

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There is another type of travel credit cards which are available for business personnel and executives of different companies to use them in their travel. And these cards have special features for such prestigious people around the world. These cards are well known by their name Travel Business Cards. And traveling while someone has these travel credit cards in his pocket is the best credit card travel or at least if not best than it is one of the best ways to use these cards.

Though express card which is backed by American Express Card system is not acceptable all over the world but it is acceptable in major parts of the world and in almost all free countries so it is not a bad choice even to use this card. But its acceptability is not as wide as Visa or Master Cards.

 Beware of VISA cards

Many travel credit card providers also offer credit card travel insurance to their credit card holder however this insurance doesn't apply to their cardholder when he has reached his destination but some credit card providers also give this facility and a travel credit card holder can find these types of card providers for a safer journey.

In this way travel credit cards work and there is another plus points in these travel credit cards and that is their acceptability in some major and famous money exchangers. This can help the traveler if he needs to have cash in liquid form. Then it is another opportunity for him to use his travel credit card because they are acceptable to currency exchangers so a traveler does not need to look around for the ATM machine in this case.

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Combo Card from Corporation Bank

State-run Corporation Bank is considering launching a multi-utility cash card, which can be used as a debit, credit and pre-paid card, in 

the current year.

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If the initiative fructifies, then Corporation Bank would be the first Indian bank to come out with a one-stop technical solution through a combo card -- a fusion of credit, debit and pre-paid cards.

Though the combo card concept is widely accepted in developed countries, India is yet to witness its benefits by which a person can use a single card as a debit, credit, and pre-paid card.

But there were certain challenges the bank needed to address in terms of infrastructure.

The bank has the infrastructure but the problem is there is no infrastructure at the user-end and they have to create that first. Corporation banks can make the facility available at there ATMs but then there were the ATMs of other banks and Point of Sales. So, this may take some time.

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Loans for Credit Card defaulters

If you have a large outstanding on your credit cards and are paying the usual high interest on the same, here is an opportunity to convert it from credit card loan to a lower interest bank loan on a long tenure. 

Credit Card Default Settlement - Step by Step Guide

Many banks are offering lucrative schemes to card holders in order to pare down their credit card exposure following a sharp increase in bad assets linked to them. Almost all major banks, including ICICI Bank and Citibank, are offering similar schemes but don’t want to publicise them, which could increase the risk of more card users defaulting on regular obligations and opting for these easier settlement options. 

So, if you have an outstanding loan of around Rs.2 lakh and are paying an interest as high as 18%, you can convert this into a regular loan, spread over a period of three years, where your interest rate may be as low as 12%. There is a retention-oriented, assistance-based collections process, and if there is a genuine inability to pay, the bank will work closely with customers to offer repayment solutions based on his or her cash-flows. 

Citibank has around 2.5 million card holders. A spokesperson for CIBIL said that when a bank reports a restructured loan it gets captured as such in the CIBIL records and is reflected similarly in the credit report. 

Banks have refused to reveal their bad loan, but it is evident that they are very cautious about the business now. 

The credit card base had dropped 21% to 21.1 million by the end of October 2009 from 26.7 million a year ago. Credit card outstanding has also declined by 12.13% to Rs 5,660 crore at the end of October 2009, from 6,442 crore a year ago. 

According to a research report from Venture Infotek, all banks are pruning their credit card business. ICICI Bank alone has brought down the number of card holders from 9 million in 2008 to 7 million in 2009.

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SBI Card and eBay Cash back offer

SBI Card and eBay India have come together with cash back offer for all the existing SBI Credit Card holders. So you will need to use your SBI Card to make the purchase at eBay. There are actually three categories of cash back which can try using this offer. That is 7.5%, 10% and 15%. It depends on the spend you make at eBay using your SBI Card. The maximum discount you can get with this offer is Rs. 1000.

If your purchase value is between up to Rs. 2499 then you cash back amount will be 7.5%. Similarly if your purchase value is between Rs. 2500 and Rs. 4999 your cash back would be 10% and likewise if your purchase is above Rs. 5000 you will get 15% cash back into your SBI Card within 21 days of your purchase. As said above the maximum cash back you can get is Rs. 1000.

Co-branded credit cards - Pros and cons

To avail this offer, you will need to visit eBay.in and register for free and if you already have an account with eBay.in then login to your account. Search and find the product that you want to buy. After adding the same to your shopping card, then use the coupon code SBICARD123 at the appropriate place to be eligible for the cash back into your SBI Card. Then pay using your SBI Card. And that’s all. You will get your cash back according to the purchase value, into your SBI Card account within 21 days of your purchase.

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