It is super convenient to have a wallet that has multiple credit cards. The important question remains how many credit cards should you ideally have. If you want a basic credit card for occasional use to probably make small payments online or offline, then having one credit card might be sufficient but if you are looking to maximize your rewards or to build your credit score then having at least two credit cards could be a great strategy for your long-term goal.
Credit cards come with a credit limit and it is the maximum amount that you can spend on your card. In order to maintain a lower credit utilization ratio, you should keep your credit card balances well below this limit. And when you use up the entire limit available to you, or are very close to exhausting the limit, your card is maxed-out. So, if your total credit card limit is Rs. 1 Lakh and the overall balance due is Rs. 1 Lakh, this means you have maxed out your credit card.
Credit cards offer multiple travel benefits including airport lounge access, low foreign exchange markup rates, hotel memberships and air mile earnings. All of these help you in reducing the cost of your travels either in the form of complimentary services or by offering rebates on certain expenses. In this article, we will talk about air miles- what they are and how you can use them to your advantage.
The Union Budget has been announced and was broadly built on the base provided by the Interim Budget 2019 presented on 1st February 2019. The following are some of the key Budget 2019 announcements made by Finance Minister Nirmala Sitharaman that are expected to impact the common man. Affordable Housing Home Loan Benefit Affordable housing…
The Reserve Bank of India (RBI) has decided to waive all charges on fund transfer made through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems from July 1, 2019. With a view to push digital transactions, it has been decided to do away with the charges levied on these fund…
The Reserve Bank of India (RBI) has decided to extend the RTGS (Real Time Gross Settlement) timings by one and a half hours from 4:30 pm to 6:00 pm. The new RTGS service window for customer transactions will be available to banks from 8 am to 6 pm on a working day and the final…
Based on the recommendations of an internal committee under the current executive director in charge of NBFC supervision, the Reserve Bank of India approved creating a specialized supervisory and regulatory structure for commercial banks, urban cooperative banks and non-banking financial companies (NBFCs). This specialized structure will include consolidating the different supervisory and regulatory activities and…
According to the Bank of Baroda (BOB) officials about the merger of Dena Bank and Vijaya Bank with Bank of Baroda, around 800-900 bank branches have been recognized which needs to be rationalized. “It does not make sense to have branches of Dena and Vijaya at the same location when both have been merged…
ITR Filing is one of the most important dates of the financial calendar and as the final step, it requires you to e-verify your ITR subsequent to submission of your returns for the applicable financial year. The task of ITR verification needs to be completed within 120 days of submission of your income tax returns…
