vcard-blog

Most lenders offer zero lost card liability on credit cards. The best option is to report the card loss as soon as you become aware of it. Any transaction carried out after you report the loss/theft to the card provider is covered by the lender. However, if you see any such transaction even after reporting the loss of credit card, you can lodge a formal complaint with the lender. You can either send a mail to the lender’s customer service…

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Credit card inactivity is status where you do not use your credit card for an extended period of time. When the duration exceeds a specific period which is pre-defined, the credit card is deactivated by the credit card provider company. The duration of dormancy for deactivation may vary from one credit card provider to another based on their respective terms and conditions. In general, lenders deactivate a credit card after six months of dormancy but this is not the case…

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There are a number of things that you can do to prevent the loss of credit card in future or prevent from any issue in future. Carry only those cards active that you require for the day. Avoid having a number of credit cards and not using it or misplacing it. Keep your credit card secure and safe in your wallet. Follow the same rule every time for keeping your credit cards. Cut and destroy your old credit cards before…

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The difficulty with credit card practice arises when people twitch assuming that they can pay for the purchases later on. The additional disposable cash leads to a incorrect sense of financial security particularly in these times of disrupted cash flow and income losses. Eventually, if you are unable to pay the bills in full and roll the outstanding amount into the next cycle, credit card interest rate will be applicable and it can go as high as 42% per annum….

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Typically, loan on credit card is obtainable on a pre-approval basis. Your credit card provider will inform you via SMS or email when you become eligible for a loan on your credit card. The maximum amount of loan that you can avail will also be communicated. To apply for a loan against credit card: Call the credit card provider’s customer care department Log in to your online banking portal and apply online If you have not received any such communication…

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In order to be able to use your card at POS machines, you should activate it as soon as possible using any of the methods that the bank offers. But if you have been caught up and could not activate it immediately, there is no need to worry. Mostly, there is no time limit to activate the card unless your bank has specified otherwise. However, the OTP sent to your number will be valid only for a limited period as…

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It is tremendously vital to pay your credit card bills completely and in full. And to do that, you must be well- familiar with a various terms and conditions that you can also find on the credit card MITC document. Billing Cycle: It is the 30 to 45 day time-frame depending on the creditor, for which you will be billed every month Statement Date: Also called as the billing date, this is the date on which your statement will be…

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You would be annoyed at the thought of paying fees on a card you have never used but the terms and conditions laid down by the bank would require you to do so. When you apply for a new credit card, you agree to the terms and conditions related to the said card. This also includes the joining fee and annual fee. So, if the card carries an annual fee, you will owe the same to the bank every year,…

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The annual fee that the credit card provider charges are unlike any interest payment you might sustain on your account. The annual fee is usually charged in a precise month of the year more usually on the subsequent month of your credit card opening anniversary or at the very initial of the calendar year or depending on the norms set by the creditor. On the other hand, some credit card providers divide the fees and assess them monthly to lessen…

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EMI Conversion Facility– Since a number of people are fronting cash flow issues, making purchases on EMIs could be a wise decision instead of paying in full and then making a partial payment. If you are unable to pay off your balances in full, you can get the same converted into EMIs too. No-cost EMIs on select items– Despite the lockdown, ecommerce websites are still offering no-cost EMI option on select items when you make the payment using your credit…

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