Akhil's Blog

Credit cards are useful in managing finances as they offer rewards and convenience for your expenditures. However, if you hold a balance on your credit card, interest charges can accumulate rapidly. One effective approach to manage your credit card debt is by utilizing a balance transfer. This article will provide insights into balance transfer fees in India. What is a Balance Transfer? A balance transfer refers to transferring the outstanding balance from one credit card to another . The main motive behind opting for a balance transfer is to avail the benefits of a lower interest rate offered by the new credit card. This can aid in reducing interest charges and accelerating the repayment of debt. What are Balance Transfer Fees? Balance transfer fees are charges that credit card companies apply when you transfer your balance from one credit card to another. The fee is usually a percentage of the balance being transferred, typically ranging from 1% to 5%. For example, if you t

Credit card debt can be a significant financial burden for many individuals, and if not managed effectively, it can quickly spiral out of control. The snowball effect of credit card debt occurs when high-interest rates and fees make it increasingly difficult to pay off the debt, leading to larger and larger balances over time. This can create a cycle of debt that is difficult to escape, leading to financial stress and potential long-term consequences. Fortunately, there are several steps that individuals can take to avoid the snowball effect of credit card debt, including budgeting, reducing expenses, and increasing income. Here are some detailed points on how to avoid the snowball effect of credit card debt: Create a Budget:  The first step in avoiding the snowball effect of credit card debt is to create a budget. A budget will help you identify your income, expenses, and debts. Once you have a clear understanding of your financial situation, you can develop a plan to pay off your cre

Credit card companies often change the variable annual percentage rate (APR) associated with their credit cards. A variable APR is a rate that can change based on factors such as changes in the prime rate or changes in the borrower's credit score. Credit card companies typically have the right to change the APR at any time, but they must provide advance notice to cardholders before doing so. The frequency of these changes can vary depending on market conditions, regulatory requirements, and the credit card issuer's business strategy. Therefore, it is important for credit card users to stay up-to-date on any changes to their card's APR and to understand how these changes can impact their finances. Credit card companies in India may change variable APRs from time to time based on several factors. Here are some points to consider: Economic conditions: Credit card companies may change variable APRs in response to changes in the broader economic conditions in the country. For e

A credit card is a financial tool that provides a convenient way to make purchases and payments. It also offers various benefits such as reward points, cashback, and discounts. However, not everyone is eligible to get a credit card. Each credit card has specific eligibility criteria that must be met by the applicant. Let’s discuss the eligibility criteria for applying for an Axis Bank ACE Credit Card .   Axis Bank ACE Credit Card is a premium credit card that provides exclusive benefits and privileges to its cardholders. It is designed to meet the lifestyle needs of the modern-day consumer who is looking for convenience, luxury, and affordability. In order to qualify for the Axis Bank ACE Credit Card, there are certain criteria that applicants must meet. Age: Applicants must fall within the age range of 18 to 70 years old to be eligible for the Axis Bank ACE Credit Card. This age limit ensures that the applicant is legally allowed to enter into a credit agreement and has a reason

As the world moves towards cashless transactions, the demand for reliable and convenient payment options is on the rise. RuPay Cards, a product of the National Payments Corporation of India (NPCI), offer a range of benefits that make them an excellent payment option for individuals and businesses in India. From lower transaction costs to wider acceptance, customized rewards, cashback offers, and benefits for Indian consumers, RuPay Cards have a lot to offer. We will take a closer look at the benefits of RuPay Cards, including rewards and cashback offers, and why you should consider getting one. Lower Transaction Cost One of the most significant benefits of using a RuPay Card is the lower transaction cost. Since transaction processing occurs domestically, the cost of clearing and settlement for each transaction is reduced, resulting in a more affordable transaction cost. This makes RuPay Cards an ideal choice for people who frequently make transactions and want to save on transacti

HDFC INFINIA Metal Credit Card (a variant of INFINIA Credit Card) was relaunched by the bank with a metallic form. INFINIA is a premium card and one can get this card only by invitation from the bank. This card is targeting individuals of High Net Worth with a luxurious lifestyle. Keeping luxury in mind, this card provides all the traveling privileges for its high-end customers. Having a foreign currency markup rate of 2% is just icing on the cake. And not just this, you get 5 reward points on every Rs.150 spent with the card, with the welcome and renewal benefits of 12,500 reward points. Also, this card provides luxurious privileges like premium golf destination access, attractive dining offers on exclusive restaurants, 24*7 concierge services, and much more. Exclusive memberships of Club Marriot for 1 year and ITC hotel stay benefits make every penny worth it. Features and Benefits ·         Welcome Benefits – 1.       As a welcome gift, you get 12,500 reward points and co