Current trend of credit cards

Emrebel

Emrebel

Adept
I am not sure how to correctly describe it but I see a general trend where the apps are issuing virtual credit cards ( collaboration with some bank).
I wanted to know how good are these cards compared to the standard ones offered by the bank itself.

Additionally, I also see apps like flipkart offering loans which makes no sense to me.
 
Same with Amazon. They have so much money they don't know what to do with it. But they still want more. Corporate greed at its best.
And they're probably profiling your spending habits to enable targeted ads towards you (banks do profiling as well to prevent fraud, not sure if they sell this data).
 
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Don't open loan accounts unnecessarily on apps. Don't use features such as ".... pay later". These open loan accounts using your KYC data in random financial institutions, your credit history gets spoiled.
CCs on the other hand are on need to use basis. Analyze your needs and features the CC offers and only then apply for it,
 
Aadhaar OTP based KYC + loan apps is probably the most scammy thing to happen, considering how tech illiterate the general populace is.
 
All these UPI apps keep on adding these bunch of features and make the app UI cluttered. Sometimes I feel I might accidentally enable these pay later things or take a loan.
There seems to be no UPI/bank app that doesn't show banners/notifications for loans etc.
 
Ssreek said:
All these UPI apps keep on adding these bunch of features and make the app UI cluttered. Sometimes I feel I might accidentally enable these pay later things or take a loan.
There seems to be no UPI/bank app that doesn't show banners/notifications for loans etc.
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They are selling gold, insurance and mutual funds under the same app.
 
Watch the series called Money Mafia on A Prime there have been horrible scams which has often let to customers suicide.

S1 E3 - Instant Loan Fraud
With more than Rs.21,000 Crore siphoned out of India, fraudulent instant loan apps have spread across the country. Burdened with sky-high interest rates, abuse, threats and data misuse -- these loan apps have rampaged the lives of unsuspecting borrowers.
 
Slayer69 said:
True except for TravelEdge and international travellers also some Gyftr Vouchers have decent RP multiplier
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Yeah but it doesn’t justify the hefty fees of 12-15k anymore.

Infinia (if one can get hold of it) has much better rewards using SmartBuy. And the renewal fee is also recovered upto 75% by the points.
 
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