PICK AND SAVE

WITH CREDIT CARDS BECOMING INCREASINGLY COMMON, PICKING THE RIGHT ONE IS PARAMOUNT FOR MANAGING YOUR FINANCES EFFECTIVELY, AND ULTIMATELY ENHANCING YOUR FINANCIAL HEALTH

BY NAVNEET DUBEY

89 MILLION TOTAL NUMBER OF CREDIT CARDS IN EXISTENCE ₹ 5,222 THE AVERAGE CREDIT CARD TRANSACTION PER PERSON 277.8 MILLION CREDIT CARD TRANSACTIONS IN INDIA SO FAR IN FY23 ₹ 4,072 CRORE GROSS NPA IN CREDIT CARDS IN FY23; IT WAS ₹3,122 CRORE IN FY22 ONE FINE DAY, Aradhana Taneja, a 31-year-old IT professional passionate about travel was walking into a bustling shopping mall in Noida when a credit card sales executive from a well-known credit card provider approached her. Though initially uninterested in hearing about the benefits of the card, two perks grabbed her attention. Firstly, the sales rep said the card required no joining fee; and secondly, the card awarded 3x reward points for each domestic premium economy air ticket purchased using it. Plus, he said, she would also receive generous rewards for every purchase she…

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Business Today (Digital) - 1 Issue, 29 October 2023

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