Know Your Options Before Accepting Credit Cards Payments

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1) If you used credit card for buying a house, you can use either of the two ways: By making payment by debit card, or by Credit Card and using this option.

If you are applying to the lender for an affordable loan then if you are applying through PayPal or any other service provider like Payoneer, etc. This will help you in paying your loans in less time period from different lenders in lesser amount and faster. You can also pay by Credit Card. It has more advantages. Even if you do not have strong credit rating you can apply for online processing so that you can get instant approval for any credit card by one of the many lenders around the world. A credit card is very beneficial for home buyers because they are offered maximum amount for their purchase. For instance we can give Rs 200000 as initial deposit. After which they can make payment in 10 to 12 business days. But there is no limit on the total amount of loan.

On the other hand if you want to know more about credit cards, then you can read this article on How To Discover The Best Credit & Debit Cards in India

2) All types of payments available-

Debit payments:- No need to make payment to any bank or company by using debit card.

Credit Card payments:- No need to make payment by credit card. This facility can be used for both personal and business purposes.

SMS/PayPal payments:- You can access these services with your phone.

3) There are many online businesses where the bank account will be opened according to the customer’s particulars. So, you can apply for credit card facility to avail some services at any point in your life. These payments are done by the banks in order to get easy money without having to go outside. Some websites also allow you to open a free trial account so that you can use it further from there. Such transactions should be performed on such platforms only.

4) If your mobile number and password won’t work for you then you can create a PIN code.

5) When you receive a transaction after sending it, a message shows up on your screen.

This helps in showing whether you have received or not.

6) You can check all the credits with just one click from this website.

7) You can also get these services from Amazon and Flipkart.

8) Most of those offers do not require credit card for getting any kind of service or facility. So it depends on what type of information you provide at the beginning of your application. In most cases of opening a new credit card or transferring old ones; the person has no contact with them. So, don’t forget to write a valid email id or mobile number of yours to send that message.

9) Many companies or large organizations can have their own website where you can search for the best loan options. They have various loan facilities which you can find from here. It does not matter where you find your financial background. The loan provider or organization will let you choose the right one for yourself.

10) Lender can change anything in the repayment policy of the credit card. It can even waive off the minimum requirement for any specific debt and now you can select among different kinds of finance loans. Now the thing is that if you are unable to meet the repayments in a particular year, then it becomes difficult for you to start using the same again.

11) On the contrary there is another credit card facility called “no fee”. At this time you don’t need to pay anything. And once you get into any debt it becomes important to pay within a short time period or else you will face charges of several fees and interest rate.

12) There are many online agencies like, My Cash Account etc. where you can shop for the best budget loans and compare them. This works well when the market is low and there is need for easy cash. On the high side the following are the basic features of the given credit cards:-

Dollar Amount Limit : 15,000

: 15,000 Annual Fee : 0.75% per annum

: 0.75% per annum Other Fees : Annual

: Annual Max Balance : 5,000

: 5,000 Minimum Transaction : Rs.50,000

: Rs.50,000 Minimum Payment : 2,500

: 2,500 Maximum Daily Amount : 50,000

: 50,000 Bonus Fee: 30%

13) As a consumer you can have multiple accounts for shopping, banking etc. and you can use each one for your convenience.

14) Online Banking is very helpful for students. Apart from doing the research and finding out the top lender you can also search for the institution (school, college etc.) and you can find details on its working system.

15) Another option is that you can take advantage of Mobile Banking. You can do all of those things on them whenever you are free.

16) An advanced device such as iPhone, Android, Rave, Firestick etc. can be used as debit card. But if you want to avail this feature then you need internet connection to run or activate it.

17) There is an app that provides additional features such as Borrowment Alerts, EFT, and Instant Funding.

18) Apart from credit card facility you can even get EFT. This app is installed on the smartphones of the public so that by registering for this app there will be certain benefits regarding the government services.

19) Any mobile technology firm like Google, Facebook, Yahoo Mobile and others have allowed us to register for their app for online payments.

20) All those services are provided for free of cost. You don’t want to lose them. So, you must register and avail of all their services.


1) Can I convert my current credit card to a better mode? Yes, you can. There is a process in place and it is mandatory that you follow.

2) What is the difference between Debit Card and Credit Card?

Both of them are used to transfer funds. One in the form of credit card and one in the form of debit card.

3) Is Visa the highest card issuer in terms of issuers? Yes, it is the first to do so. In fact, it was awarded 4 times in the list of issuers.

4) Which is the safest way to carry a balance? Credit card.

5) Which is the fastest way to withdraw money from a credit card? Transfer from EFT to IMPS app.

6) Can I apply for a refund back and forth? Yes. Just use the method written down.

7) Why the company wants you to buy a credit card? They want users to take benefits of the cards.

8) Will you be able to apply for a discount if someone tries to cancel their contract? Yes. You can apply for both the discounts but you will be unable to get both.

9) What are the pros and cons of obtaining a credit card in India? Pros:

Pros:- Easy and cheap loans

Cons :

· You need to have a credit rating of 700+/500

· Application process very long

· High overdraft rate

· Specially designed for borrowers who have poor credit history

· Higher monthly credit score is needed. You need to increase your score for availing loans

· Long term usage

· Bad Loans can ruin your reputation of repaying debts fast. Cons:

· Low credit availability

· Poor interest rates

· Scams

· Only accepted deposits for small amounts of Rs.100.

· Unstable source of income

· Not appropriate for the rich people.

· Not suitable for women.

· Can get denied for taking benefit of the promotions.

10) Do you think that every investor would invest in a stock or mutual fund, which would mean a lot of money? Yes. Almost everyone has his own investment. So it would be a good idea to make sure your investment is also safe. I agree with you that if you have a great investment then everyone will also be investing a good amount in it. So people do not feel much pressure of their finances. It gives enough space for growth of every investor, he can gain a lot of benefits along with investing.

11) How big credit card debt is?

It may vary depending upon the type of financial products that you carry. We can say that credit card debt has gone up a very high figure in recent years. Of course, the trend is positive to some extent, but due to Covid-19 lockdowns and travel bans across the globe, the rise in credit card debt is expected to drop soon.

12) Are you able to have a fixed rate in case of default?

No, fixed rate is the best. Failing to submit sufficient collateral will result in a higher charge on the borrowed amount. Also, if you don’t fulfill the conditions then there is possibility that your application will be rejected. But if you have a steady job and a decent income then the chance of defaulting will be lesser.

13) Which is the cheapest credit card in case i want to obtain a card for a business purpose also?

What you need to check before purchasing a credit card is your Business Credit Score. Here you will have to show a clear picture of your Income Statement, Loan statement, Current Accounts and Expenses and lastly, Bank Reconciliation Statement. Otherwise you can select whatever is your business credit profile

14) From my previous post about how to get a preloaded voucher, we can get OTP or OTPV option from the retailers.

15) Where can i get the latest data of Indian Economy? Is it possible to see the graphs for GDP and GNI.

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