Why Banks Are Reducing Complimentary Lounge Access on Credit Cards

[Riya Sharma]

india is already at replacement rate

This is a very good development but we still have a long way to go. It needs to drop even further. Especially in states like UP and Bihar which are still above replacement rate.

I believe that India will truly prosper when the Average Birth rate reaches 1.50.

 

[Deleted member 9785]

This is a very good development but we still have a long way to go. It needs to drop even further. Especially in states like UP and Bihar which are still above replacement rate.

I believe that India will truly prosper when the Average Birth rate reaches 1.50.

but with lower replacement rate government across the world are increasing retirement age

 

[balpreet.singh]

Only if it happens at the same rate throughout the world. Unfortunately, first world countries like China, USA, Japan and most of Europe are the ones struggling with low birth rates. 3rd world countries with lesser economies, lower iq's and parents that can't afford to feed their children have an uncontrollably high birth rate. Countries like Africa, India, Pakistan and Afghanistan need to drastically stop producing children.

India's Total Fertility Rate (TFR) -- which is the average number of children who would be born to any women in her lifetime – has declined from 2.2 in 2015-16 to 2.0 in 2019-21. this is below the replacement level of fertility of 2.1 children per woman.

This also have a different challenge in few decades, that country will have higher % of ageing population

 

[Riya Sharma]

India's Total Fertility Rate (TFR) -- which is the average number of children who would be born to any women in her lifetime – has declined from 2.2 in 2015-16 to 2.0 in 2019-21. this is below the replacement level of fertility of 2.1 children per woman.

This also have a different challenge in few decades, that country will have higher % of ageing population

2.0 is still really high. India's average birth rate needs to drop to 1.5 and in states like Bihar, UP and Jharkhand it needs to drop to 0.

 

[Deleted member 9785]

2.0 is still really high. India's average birth rate needs to drop to 1.5 and in states like Bihar, UP and Jharkhand it needs to drop to 0.

how cost of living and rents are increasing soon no marriage and no children. By 2040 it will be 1

 

[Riya Sharma]

how cost of living and rents are increasing soon no marriage and no children. By 2040 it will be 1

that is very good to hear.

 

[Deleted member 9785]

Although i dont like this forum due to snobbiness and too many banner adds still https://www.team-bhp.com/forum/shifting-gears/273635-airport-lounges-have-gone-bad-worse.html

 

[metro]

Then do we go to himalaya for meditation 🧐 or live life as if zindagi na milegi dobaraa 😀

And then Himalayas will be crowded like lounges in airport.

 

[rogerthat]

Axis Bank issued Kochi1 Transit Card (RuPay) for Kochi Metro has removed the lounge benefit of one per quarter on the card. A lot many people took this card for the lounge access alone and not necessarily because they were travelling by Metro.

 

[Abhi5467]

RBI tightens norms for personal loans and credit cards, raises capital requirement!!!​

RBI imposed stricter rules for major contributors of NPA like Personal loans and Credit Cards ( excluding Education laons, Jewellery Loans, Home loans , Vehicle Loans) .
Earlier the amount in percent was :
For Banks -125% and now increased to 150%
For NBFCs - 100% and now increased to 125%
(The amount is risk capital a bank has to keep aside as risk against a person going default)
This means , Banks now will have to keep more amount as a risk capital to RBI.
This move has two purpose:
1) Relieving some NPA pressure by curbing lending
2) As unsecured loans and credit cards have seen a tremendous growth, RBI wants to protect end consumer from being in debt trap.

SIDE EFFECTS:
Banks now will keep a short hand for credit card customers. Your chances of getting a new credit card will be dwindling. Less chances of LIMIT ENHANCEMENT and bank might clip some limit on people not using it! All and all a very bad news for prospective credit users. You are also seeing banks restricting lounge access and discount are not as good as they used to be.

 

[D₹V]

You are also seeing banks restricting lounge access and discount are not as good as they used to be.

Fact bol dia bhai ne 😅

 

[Deleted member 9785]

People who want exclusivity without burning too much of a hole should use axis vistara inifinite gold membership benefit and fly max possible on vistara.

 

[Finacus Solutions]

Banks are reducing complimentary lounge access on credit cards to manage costs and align benefits with customer usage patterns. This adjustment helps financial institutions optimize rewards programs and maintain sustainability in the face of economic factors and changing consumer behaviors.

 

[starstruck]

Banks are reducing complimentary lounge access on credit cards to manage costs and align benefits with customer usage patterns. This adjustment helps financial institutions optimize rewards programs and maintain sustainability in the face of economic factors and changing consumer behaviors.

Are you an authorized representative of the company which is mentioned in the logo? Your answer looks too much corporate speak in nature.

 

[Survivor35]

Banks are reducing complimentary lounge access on credit cards to manage costs and align benefits with customer usage patterns. This adjustment helps financial institutions optimize rewards programs and maintain sustainability in the face of economic factors and changing consumer behaviors.

Woah So just Finance Jargon wow

 

[Deleted member 9785]

i think Scapia will do this soon

 

[credit_debit]

Is Platinum Rupay debit card also adding the rush? With just Apprx Rs. 200 annual fees, Rupay cards are giving 2 domestic longue accesses per quarter. We don't need credit cards for longue access anymore, 🙂

 

[Deleted member 9785]

new news coverage

 

[pranaym]

I have never accessed lounge, though I own multiple cards. Increasing CC users should be the main reason they brought all these changes to their terms and conditions.