Things to Know While Accepting Credit Card

#1
Hi friends,

SBI is offering me a credit card. they will charge as usage charge of Rs.500/- per annum. I don't know what are the hidden charges in it. Please advise the things (plus & minus) we should know before applying a credit card.
 
#3
Hi friends,

SBI is offering me a credit card. they will charge as usage charge of Rs.500/- per annum. I don't know what are the hidden charges in it. Please advise the things (plus & minus) we should know before applying a credit card.
Don't apply for SBI cards.

- As per my knowledge, it is just SBI name but not managed by SBI.
- In many cases card is never received. You may get the bill after some time (maybe after 6 months or after 2 years)
 
#4
Don't apply for SBI cards.

- As per my knowledge, it is just SBI name but not managed by SBI.
- In many cases card is never received. You may get the bill after some time (maybe after 6 months or after 2 years)
I beg to differ. Although problems with credit card are not hard to hear by, but generalizing is not always advisable.

I am using SBI IRCTC Credit Card for the past 4 years and haven't faced a single issue.

The credit card business of SBI is a joint venture between SBI and GE Capital. Their website and services are one of the most professionally run services in India.

There are so many credit cards for specific purposes and tie ups with different merchants and different schemes. As Alchemist says, there are many available without any joining or annual fees.

The one I am using is also free for lifetime. This one has many privileges associated with IRCTC, apart from being a regular credit card.
 
#5
While accepting the Credit Card you can check few things like;

  • Are they giving you any free accident/ insurance policy by default which will be charged to you in your credit card bill?
  • Are there any charges on certain transactions like swiping card at Petrol Pumps?
  • Will they convert your big spends in EMI automatically with (so called) 'Nominal' processing fee?
  • What are the late payment, part payment charges and what is the bonus points (if any) structure?
Will add more if I remember anything.
 
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