Do you think credit lines could kill beginner credit cards ?

[kochiro]

It just makes more sense for banks to give credit line instead of credit card as it gets rid of payment network like Rupay, visa, Mastercard, no cost of manufacturing and delivering card with documents. All of this will make acquiring new customers lucrative both ways. A lot of people use credit card for the sole purpose of "buy now pay next month" they don't care about rewards and not to see multiple transactions in their bank statements.

 

[akshayhs]

I always said 90% of the cards don't need to be issued physically because half of the customer base is smart as to what card they will apply and the reason for applying. So naturally, they will want a physical card that rewards them. All other cards will be simply kept in cupboards, in a wallet. I think it's high time banks realize it's time to go virtual. Maybe, on request they can apply for a physical card and get it if required. This saves everything from paper, plastic and transit charges.

I am sorry but this whole community is a proof people do care about rewards. Otherwise, why would they even apply for new cards if you already have one.

I do agree on your other claim about not liking to see multiple transactions in bank statements.

 

[kochiro]

I always said 90% of the cards don't need to be issued physically because half of the customer base is smart as to what card they will apply and the reason for applying. So naturally, they will want a physical card that rewards them. All other cards will be simply kept in cupboards, in a wallet. I think it's high time banks realize it's time to go virtual. Maybe, on request they can apply for a physical card and get it if required. This saves everything from paper, plastic and transit charges.

I am sorry but this whole community is a proof people do care about rewards. Otherwise, why would they even apply for new cards if you already have one.

I do agree on your other claim about not liking to see multiple transactions in bank statements.

This entire community is less than 1% of cc users in india. Most users are old and uses card issues by company salary bank or some company refer. (Could have multiple if switched companies and banks too) but it's still rare for old users to actively apply for cc.

 

[Dreamgrill]

It just makes more sense for banks to give credit line instead of credit card as it gets rid of payment network like Rupay, visa, Mastercard, no cost of manufacturing and delivering card with documents. All of this will make acquiring new customers lucrative both ways. A lot of people use credit card for the sole purpose of "buy now pay next month" they don't care about rewards and not to see multiple transactions in their bank statements.

Payment gateways like visa exist as a middleman between two banks.

Let's say there's bank A and B.
If someone from A sends money to B, there.needs to be authentication done on the txn - which requires info on the bank account holder.

So essentially, B would get all the account details of the A's customer. And can steal the client.

Services like visa and MasterCard do the authencation without B getting info of A's customers.

UPI simplifies that process.

That is why banks can't give a direct credit line, but need middle instruments.

 

[Iamgora]

I always said 90% of the cards don't need to be issued physically because half of the customer base is smart as to what card they will apply and the reason for applying. So naturally, they will want a physical card that rewards them. All other cards will be simply kept in cupboards, in a wallet. I think it's high time banks realize it's time to go virtual. Maybe, on request they can apply for a physical card and get it if required. This saves everything from paper, plastic and transit charges.

I am sorry but this whole community is a proof people do care about rewards. Otherwise, why would they even apply for new cards if you already have one.

I do agree on your other claim about not liking to see multiple transactions in bank statements.

I agree on this. I have eight credit cards and carry one in my wallet; the rest sit at home. Sometimes I carry a second card. Most cards should be for online use only. Some banks offer debit cards online and provide a physical card if required, so for credit cards they could do the same.

 

[kochiro]

Payment gateways like visa exist as a middleman between two banks.

Let's say there's bank A and B.
If someone from A sends money to B, there.needs to be authentication done on the txn - which requires info on the bank account holder.

So essentially, B would get all the account details of the A's customer. And can steal the client.

Services like visa and MasterCard do the authencation without B getting info of A's customers.

UPI simplifies that process.

That is why banks can't give a direct credit line, but need middle instruments.

NPCI is allowing banks to have credit line without need of Rupay/Visa and others.

 

[Abhishek012]

NPCI is allowing banks to have credit line without need of Rupay/Visa and others.

Credit cards are also credit lines bro.

Banks will now also allowed to issue Credit lines on UPI network instead of RuPay/visa network.

You can call it UPI based credit cards.

 

[akshayhs]

Credit cards are also credit lines bro.

Banks will now also allowed to issue Credit lines on UPI network instead of RuPay/visa network.

You can call it UPI based credit cards.

Can we say the new HDFC virtual RuPay based card is UPI based? I don't think so right?

 

[kochiro]

Can we say the new HDFC virtual RuPay based card is UPI based? I don't think so right?

Well because npci is still working on process of direct credit line for banks.