Just wanted to bring to the writer's notice a large number of co-brands that have recently hit the market - ICICI TravelSmart, SBI Lifestyle Credit Card, SBI Apna Bazaar... also left out were some of the other cobrands such as SBI Hero Honda and SBI Social Card, a cobrand with 4 Indian NGOs.
If you want destroy your enemies or not like people,just introduce two more credit card and celphones it is enough...Credit card card for high salaried people.if you want to grow be caution with mr.cc.(credit card)and Mr.mp(mobile phone) M.velmurugan
The picture painted is beautiful and very rosy. Could you also be kind enough to let the readers know about the catch in this. What would happen if they spend on these credit cards, non co-branded or branded and are late in making payment. How much do these discounts amount too then.. Even when they make the minimum amount payment as per the bank instructions do they still get the benefit. We appreciate your effort in showing us the plus points but would love to read the negative ones too. Thank you
I totally do not accept with the columnist. In real world nothing comes for free! There are always hidden costs. Moreover, without the help of co-branded cards, u can still get a better bargaining from these corporates, such as Petro card from BPCL, Reward cards from Shoppers stop etc. What these credit cards do? It creates impulsive buying amongst the consumers and more so when it is not required to be paid immediately in cash. Even Airlines do have similar cards in the offering. The rate of interest charged by banks for using credit card and the membership charges and not so transparent charges they debit. Most of all the service tax of 10.2% on these purchases will negate the benefits.
Many of the credit cards offer reward points. the declared rate is usually @Re.1/- per Rs.100/- spend but actually the rate is much less by about 10-30% i.e instead of Re.1/- it boils down to 0.70p to 0.90p. This is because if the item selected is costing say 500/- MRP then 550 or 650 points are reduced, not to mention that many a times if one purchases the same item on cash, it may cost below the MRP.
