You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Do’s and don’ts of higher credit limit

DNMUM385246 | 3/21/2017 | Author : Kumar Shankar Roy | WC :732

personal finance

For two years running, Naveen, 31, has been offered to hike his credit card limit by the issuer company. On both occasions, he unabashedly declined the offers. Naveen, who manages his credit cards with extreme caution, has a simple logic: he fears that taking more credit would force him to pay more interest some day. Personal finance experts disagree with this approach, and believe that a higher credit limit may not necessarily be all that bad.
Despite credit card companies charging higher interest rates (monthly 1.25% to 3%), the number of credit cards is growing at a healthy pace. According to RBI data, the outstanding number of credit cards in the country shot up to 28.85 million by January 2017, over 5 million more than 23.
Read full story


Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

Sensex, Nifty off peaks as bulls take a breather
DNMUM387572 | 4/28/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :193

Mumbai: Indian markets traded in a taut range on the back of F&O expiry on Thursday to close with marginal losses. The BSE Sensex ended at 30029.74, after falling 103.61points, or 0.34%, while Nifty closed at 9342.15, after dropping 9.70 po
Add To LightboxCalculate Price

Return, not label, matters in value and growth funds
DNMUM387573 | 4/28/2017 12:00:00 AM | Author : Tarun Birani | WC :695

A myth which has been around for a long time becomes a reality. In the same way, the perception towards categorising the funds as growth funds and value funds has been around long enough for us to believe that they exist and behave
Add To LightboxCalculate Price

Go on a world tour…virtually
DNMUM387574 | 4/28/2017 12:00:00 AM | Author : Priyanka Golikeri | WC :470

Witness the great migration in the Maasai Mara in Kenya from a safari jeep. Get a feel of Italy’s crisp air while driving down the Amalfi Coast in a vintage car. Or go on a road-trip to uncover the spellbinding beauty of Iceland. All of this si
Add To LightboxCalculate Price

Hudco to raise `1,200 cr in maiden float
DNMUM387582 | 4/28/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :134

Mumbai: Housing and Urban Development Corporation Ltd (Hudco) plans to raise Rs 1,224 crore through its initial public offer (IPO), in first such offering by a government-owned company in the last five years.The previous one, National Building
Add To LightboxCalculate Price