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Credit cards are now an important part of how we handle our money. They make it easy for us to buy things without carrying cash, help us build credit, and give us a lot of other benefits, like rewards, discounts, and cashback. But not all credit cards are the same, and it's important to pick the right one for your needs if you want to get the most out of it.
India is one of the fastest-growing credit card markets in the world, with a significant increase in the number of credit card users in recent years. With numerous banks and financial institutions offering various credit cards, it can be overwhelming to choose the right one. However, by understanding your spending habits and requirements, you can select the credit card that offers the best benefits for you.
Online shopping has become increasingly popular in India, and using a credit card for these purchases offers various benefits.
The HDFC Bank Millennia credit card offers a 5% cashback on online shopping, along with additional benefits such as a 1% cashback on offline spends, fuel surcharge waiver, and airport lounge access. It also provides exclusive discounts and offers on partnered brands, including Amazon, Flipkart, and Myntra.
The SBI SimplyCLICK credit card offers up to 10X reward points on online spends, making it an ideal choice for online shopping. It offers a 5% cashback on online purchases from Amazon, Cleartrip, Lenskart, and Ola. Additionally, it provides fuel surcharge waivers and e-vouchers worth Rs.2,000 on annual spends of Rs.1 lakh.
The ICICI Bank Amazon Pay credit card is designed specifically for Amazon shoppers, offering a 5% cashback on Amazon purchases. It also provides a 2% cashback on spends made at Amazon Pay merchants and 1% cashback on all other spends. It offers benefits such as fuel surcharge waivers, lounge access, and discounts on partnered brands.
The Axis Bank Flipkart credit card offers a 5% cashback on Flipkart purchases, along with additional benefits such as a 4% cashback on spends at Myntra, 1.5% cashback on other spends, and a welcome gift voucher worth Rs.500. It also provides benefits such as fuel surcharge waivers, airport lounge access, and discounts on partnered brands.
The Citi Rewards credit card offers accelerated reward points on online spends, including 10 reward points per Rs.125 spent on online purchases. It also offers discounts and offers on partnered brands, including Amazon, Flipkart, and Myntra. It provides additional benefits such as fuel surcharge waivers, airport lounge access, and an annual bonus reward points.
Choosing the right credit card for Online purchases depends on the customer's spending habits and preferences. By selecting a credit card that aligns with their needs, customers can maximize the benefits they receive and save money in the long run.
Ever since India started its Digital India Movement, Indians’ adoption of digital payments has gone up steadily. Cashless transaction has been embraced across the board all the way down to chaiwalas with whom you can complete your payment using your phone, without fumbling for change in your wallet.
PayTM and PhonePe, that function using UPI are widely popular for daily transaction. There are many more options available in India beyond these.
A payment method is a way that you use to transact money as payment for a product or service. Cash, credit card, debit card, cheques, UPI etc. are various payment methods that are common in India.
Let’s look at an almost exhaustive list of payment methods you can use in India.
UPI - Unified Payments interface is a revolutionary system that has enabled Indians to access multiple bank accounts within a single interface. Users can seamlessly transfer money to businesses and other users using an app. All you need is an active bank account with a participating bank and you’ll be able to create a UPI id for yourself.
Just like an email, a UPI id allows people to send money directly to you, into your bank account. With 0 transaction fees, UPI is the most accessible payment method available for Indian smartphone users.
Popular UPI Apps In India
Digital Wallet, sometimes referred to as ‘e-wallet’ is a virtual account in which you can keep money to transact from. You could transfer money from your bank account to your digital wallet, which you can use as a payment method.
Why use a digital wallet, when you have UPI? Digital wallets operators such as PayTM, Amazon, Airtel etc. offer exclusive discounts for transactions using their digital wallets. You could avail those exclusive benefits by using such digital wallets.
Popular Digital Wallets in India
Internet banking, or Net Banking as known popularly is an electronic system that allows you to access your bank account and other banking services online.
Within Net Banking, there are a few ways that you can transact money.
Mobile banking is net banking, accessed through your bank’s mobile app on your Android or iOS device.
It is essentially the same thing as net banking, but it allows for some personalised features.
Cash is still a dominant payment used in India. As the use of digital payment methods are becoming more and more prevalent, Indians are getting more and more comfortable with not carrying cash.
AEPS - Aadhaar Enabled Payment System is a way Indians with Aadhaar card can do transactions. If your Aadhar card is registered with your bank account, you can start using this service.
How to use AEPS?
All you need to use AEPS is your Aadhaar card number. You’ll have to quote this number and initiate the transaction. As simple as that.
All banks in India offer debit cards when you open an account with them. You will be able to access funds in your account using this debit card. Withdrawing of funds can be done through either the same bank’s ATM or other ATMs.
When you can demonstrate that you have continuous income, the same bank will be interested in offering you a credit card too. Credit cards can also be obtained by opening a Fixed Deposit and pledging the same.
A prepaid card is an instrument that can be used just like a credit card or debit card. The only difference is that a prepaid card needs to be ‘recharged’ or loaded with money before hand.
It is not connected to your bank in any way and it provides an easy way to manage expenses especially for dependents in a family.
Banking instruments such as a cheque or DD is still very much widely used in India. They have their own benefits and use cases. Having said that, even businesses are slowly embracing digital payments for all their operations.
We are working towards bringing as much flexibility as we can in your Hubble experience. Currently we allow deposit and withdrawals through UPI.
Net banking and Digital Wallet payments are being worked on at the moment and we plan to release them any time soon.
Buying a dream phone may be an impossible dream for many if you had to pay the whole price upfront. Banks used to offer consumers the opportunity to take out a loan and pay the principal and interest together in equated monthly installments or EMI.
Banks later started offering loans for purchases without any interest, calling it no cost EMI. Big purchases are more tempting now, now that you seemingly don’t have to pay interest.
Let’s try and understand how this works.
A loan that you borrow for a large purchase typically has an interest component that is charged separately. A no-cost EMI is an offer by companies for their products where you continue to pay equal monthly installments until the end of the tenor, but with no interest.
What it means is that you will only be paying the total cost of the product, with no extra payments.
There are two ways in which no-cost EMIs work
Let’s look at them both.
Most online shopping platforms usually pad up offer price and the interest cost in some way is passed on to the customers.
Let’s look at an example.
Assume that you’re in the market for a new phone that costs INR 30,000. You find an offer for a zero-cost EMI for 3 months.
Then the interest component works out to INR 4,500.
In the first scenario, the discount is taken away.
In the second scenario, the interest is inbuilt into the price of the phone.
Now that we have understood that no cost EMIs are not really no cost, let us look at their pros and cons.
Payment cards are a convenient and secure way to make transactions, whether it be for purchasing goods and availing services or withdrawing cash. There are several different types of payment cards available, each with its own unique features and benefits. In this post, we will discuss some of the most commonly used types of payment cards and what sets them apart from one another.
Credit Cards
Credit cards are perhaps the most well-known type of payment card. They allow users to borrow money from a lender in order to make purchases or withdraw cash. Users are required to make monthly payments on the borrowed amount, and are usually charged interest if repayments are delayed. Credit cards often come with various rewards and benefits, such as cashback or reward points.
Debit Cards
Debit cards are similar to credit cards in that they can be used to make purchases and withdraw cash, but they are linked to your savings account rather than a line of credit. When a user makes a purchase or withdraws cash with a debit card, the funds are transferred directly from their bank account. Unlike credit cards, debit cards do not accrue interest or require monthly payments.
Prepaid Cards
Prepaid cards are similar to credit cards issued by banks & financial institutions that are loaded with a specific amount of money in advance. They can be used to make purchases using prepaid cards, just like a regular credit cards. However, once the funds on the card have been depleted, the card can no longer be used until more money is added. Consumers can spend using prepaid cards without incurring debts and paying interest.
Gift Cards
Gift cards are a type of prepaid card that a specific retailer or brand issues. They can be used to purchase goods or services from that retailer or brand. Gift cards are often given as gifts and have a set monetary value.
Virtual Payment Cards
Virtual payment cards are payment vouchers belonging to a specific retailer or brand and have a set monetary value. These cards are gaining popularity in India because of the following reasons -
Consumers can generate these payment cards from platforms like Hubble Money and redeem these cards on brand apps/offline stores and use the balance it as & when required.
Step 1 - Open the Hubble app & click on the ‘Shop’ section from the home page.
Step 2 - Choose a brand you want to generate a virtual card for, from the list of 30+ brands.
Step 3 - Enter the amount you want to redeem it for.
Step 4 - Then, click on ‘Review’ and verify using OTP.
Step 5 - Click on ‘Generate’ and your virtual payment card will be displayed on the screen.
You can use this virtual card at the brand’s offline stores or on its website to purchase any product of your choice. If you want to know how you can use these payment virtual cards, tap on the card to view details and then, click on ‘How to use’ it. We have added the ‘How to use’ section for every brand.
Payment cards come in various forms, each with its own set of features and benefits. It's important to understand the different types of payment cards available and choose the one that best fits your needs. But, it is advisable to use virtual payment cards because it safeguards your bank account details from being
Whether you prefer a credit card for its rewards and benefits, or a debit card for its direct link to your bank account, there is a payment card out there for everyone.
Hubble Money app is a unique spending account that allows users to earn money in a variety of ways. Whether you're looking to grow your money or earn some extra cash or get a redefined spending experience, there are plenty of options available on the Hubble Money spending account.
One of the most popular ways to earn on Hubble 2.0 is by simply keeping your money on the platform. By depositing funds into your account, you'll earn daily rewards of 0.1%. This doesn’t sound interesting, right? But, in 100 days, it will add up to 10%. That means you earn more than your regular savings account and FD.
Another way to earn on Hubble 2.0 is by taking part in Hubble’s daily challenges like predict & win, guess the brand, guess the song, etc. By completing these challenges, you'll unlock special "Boosters" that can help you earn even more money. For example, some Boosters may add up to a Rs 200 bonus to your earnings once you complete the challenge or win the game.
Another great way to earn on Hubble 2.0 is by spending less on brands you love. The 10% earnings that you get in 100 days, you can spend on the Hubble app to generate virtual payment vouchers for a wide range of popular brands, and you can save money on everything from clothing to electronics.
In conclusion, Hubble Money is a first-of-its-kind platform that offers 10X faster earnings than your savings account. Whether you're looking to grow your money, earn extra cash, or spend money on your favorite brands, there's something for everyone on Hubble Money. So, if you're looking for a new way to earn money, give Hubble Money a try today!
Virtual payment cards, also known as gift cards or brand vouchers, belong to a specific retailer or brand and have a specific monetary value. They offer a number of benefits for online shopping, making them a convenient and secure option for consumers.
Virtual payment cards are generated for a specific brand, with a unique number and security code. This helps to prevent fraud and reduces the risk of identity theft. You can add the card balance to that brand wallet and use it whenever you need to spend.
Virtual payment cards can be used for online shopping and at physical outlets depending on the brand. They can be easily generated through Hubble money app for 30+ top brands.
Virtual payment cards can be set up with a specific limit, which helps you stay within your budget. This makes it easier to manage your spending and avoid overspending.
Since virtual payment cards are digital, there is no physical card to lose or misplace. This eliminates the hassle and inconvenience of replacing a lost or stolen card.
Some platforms offer rewards when you generate virtual payment cards for your spending, like the Hubble Money app. This makes them a great option for spending, as you can earn rewards by depositing your monthly spending budget and use those rewards to generate cards for purchases you were already planning to make.
Virtual payment cards are a convenient and secure option for online shopping. They offer increased security, improved budgeting, and the ability to earn rewards, etc. Whether you are a frequent shopper or just looking for an easier way to manage your finances, virtual payment cards are definitely worth considering.
Credit cards are now an important part of how we handle our money. They make it easy for us to buy things without carrying cash, help us build credit, and give us a lot of other benefits, like rewards, discounts, and cashback. But not all credit cards are the same, and it's important to pick the right one for your needs if you want to get the most out of it.
India is one of the fastest-growing credit card markets in the world, with a significant increase in the number of credit card users in recent years. With numerous banks and financial institutions offering various credit cards, it can be overwhelming to choose the right one. However, by understanding your spending habits and requirements, you can select the credit card that offers the best benefits for you.
Online shopping has become increasingly popular in India, and using a credit card for these purchases offers various benefits.
The HDFC Bank Millennia credit card offers a 5% cashback on online shopping, along with additional benefits such as a 1% cashback on offline spends, fuel surcharge waiver, and airport lounge access. It also provides exclusive discounts and offers on partnered brands, including Amazon, Flipkart, and Myntra.
The SBI SimplyCLICK credit card offers up to 10X reward points on online spends, making it an ideal choice for online shopping. It offers a 5% cashback on online purchases from Amazon, Cleartrip, Lenskart, and Ola. Additionally, it provides fuel surcharge waivers and e-vouchers worth Rs.2,000 on annual spends of Rs.1 lakh.
The ICICI Bank Amazon Pay credit card is designed specifically for Amazon shoppers, offering a 5% cashback on Amazon purchases. It also provides a 2% cashback on spends made at Amazon Pay merchants and 1% cashback on all other spends. It offers benefits such as fuel surcharge waivers, lounge access, and discounts on partnered brands.
The Axis Bank Flipkart credit card offers a 5% cashback on Flipkart purchases, along with additional benefits such as a 4% cashback on spends at Myntra, 1.5% cashback on other spends, and a welcome gift voucher worth Rs.500. It also provides benefits such as fuel surcharge waivers, airport lounge access, and discounts on partnered brands.
The Citi Rewards credit card offers accelerated reward points on online spends, including 10 reward points per Rs.125 spent on online purchases. It also offers discounts and offers on partnered brands, including Amazon, Flipkart, and Myntra. It provides additional benefits such as fuel surcharge waivers, airport lounge access, and an annual bonus reward points.
Choosing the right credit card for Online purchases depends on the customer's spending habits and preferences. By selecting a credit card that aligns with their needs, customers can maximize the benefits they receive and save money in the long run.
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