Deutsche Bank World Miles Credit Card - Deutsche Bank announced the launch of World Miles Credit Card in India.
The credit card mainly created to cater to regular domestic and international travelers, will automatically enroll customers in a travel-focused loyalty program called 'WorldMiles' enabling them to earn and redeem miles across any airline in the world.
Launched in association with Loyalty Rewardz and Ezeego, the loyalty program 'WorldMiles' is an airline-independent frequent flyer program- the first of its kind in India.
Deutsche Bank World Miles Credit Card has been launched in two variants, viz. World Miles Signature Credit Card and World Miles Platinum Credit Card. World Miles Signature Credit Card offers 3 Spend Miles for every Rs 100 billed, while the World Miles Platinum Credit Card offers 2 Spend Miles for every Rs 100 billed on the card.
This unique program allows customers to earn miles in three forms: Flight miles, Spend Miles, and Partner Miles which accrue in one single account and can be used to redeem free airline tickets across any sector, domestic or international, and on any airline.
Shameek Bhargava, Managing Director, Head of Cards - Asia Pacific, Deutsche Bank said, "At Deutsche Bank we continuously innovate to enhance value for our customers through products which meet their needs, and seek to surpass expectations.
The World Miles card is one such offering which provides customers an opportunity to earn miles independent of any airline and also consolidate the accruals in one single account. The fact that it is airline independent also means that there is higher rate of accumulation which quickly leads to achieving redemption miles and thus, free airline tickets."
The credit cards also offer value additions like country-specific SIM cards for savings in international roaming charges from Matrix cellular Services, Airport lounge access and comprehensive international travel insurance.
Wednesday, March 31, 2010
Tuesday, March 23, 2010
Dhanlaxmi Bank credit cards Launched
Thrissur-based Dhanlaxmi Bank entered the retail resources business with the launch of Dhanlaxmi Bank Platinum and Gold Credit cards. The Credit card are targeted at its premium customers.
As well, the bank for the first time in India is introducing a ‘Pay by Transaction’ billing mode for credit cards. Under this, instead of a monthly billing cycle, the interest-free credit period is considered for individual transactions from the day of purchase. A customer thus enjoys a 45-day interest-free credit period on each purchase and does not need to time the purchase based on the billing cycle.
Speaking at the launch, Amitabh Chaturvedi, MD and CEO, said retail asset would be an important element of the overall growth strategy and the bank intended to launch a number of innovative, customer-centric products in the coming financial year.
The bank will also provide several other benefits like 5 per cent cash back on grocery purchases, priority pass - valid for over 500 lounges and a worldwide concierge services for all its credit card customers, the release added.
As well, the bank for the first time in India is introducing a ‘Pay by Transaction’ billing mode for credit cards. Under this, instead of a monthly billing cycle, the interest-free credit period is considered for individual transactions from the day of purchase. A customer thus enjoys a 45-day interest-free credit period on each purchase and does not need to time the purchase based on the billing cycle.
Speaking at the launch, Amitabh Chaturvedi, MD and CEO, said retail asset would be an important element of the overall growth strategy and the bank intended to launch a number of innovative, customer-centric products in the coming financial year.
The bank will also provide several other benefits like 5 per cent cash back on grocery purchases, priority pass - valid for over 500 lounges and a worldwide concierge services for all its credit card customers, the release added.
Monday, March 22, 2010
Credit Card Offers For the Month of March 2010
Click on Link to know more About Credit Card Offers on Other Banks Credit Cards.
Barclays Credit Card Offers
1) Barclays Gold
Dinning Offer :
• Get 15% discount at Nirulas,(offer applicable for bill exceeding Rs.200 only till 30th April 2010)
• Enjoy the delicious food with great discounts in your city at various restaurants
• Delhi
• Get 15% discount on food & soft beverages at Asia7.(offer valid till 01 June 2010).
• Get 25% discount on liquor till 10 pm & 15% discount on food till closing at Dawat Khana.(offer valid till 31 May 2010).
• Get 15% discount on food at Flames.(offer valid till 31 May 2010).
• Get 33% discount on liquor( 5pm to 10pm) and 15% discount on food till closing at The Mezz(pub)(offer valid till 31 May 2010).
• Get 15%discount on food and liquor at Clay Oven.(offer valid till 31 May 2010).
• Get 15% discount on food at Desi Ladks.(offer valid till 31 Mar 2010).
• Get 15% discount on bill of more than Rs.400 at Yo!China.(offer valid till 31 Mar 2010).
• Mumbai
• Get 10% discount on food at Flags.(offer valid till 01 June 2010).
• Get 10% discount on food & beverages( Monday to Friday) at 5The Restaurant.(offer valid till 31 May 2010).
• Get 15% discount on food at Bageecha.(offer valid till 31 May 2010).
• Buy 2Thalis and get third one free at Rajdhani.(offer valid till 30 April 2010 & at Chembur, near TBZ, Mumbai Central Railway Station,MG Road,Mulund West and at Crawford Market ).
• Hyderabad
• 10% discount on food at Haveli.(offer valid till 31 May 2010)
• 15% discount on food & beverages at Bottle & Chimney(offer valid till 31 May 2010)
• Buy 2Thalis and get third one free at Rajdhani.(offer valid till 30 April 2010 & at Amerpeet ).
• Get 15% off on food & 10% off on liquor at Padharo(offer valid till 31 May 2010).
• Bangalore
• Get 15% discount on bill of more than Rs.400 at Yo! China.(offer valid till 31 March 2010 and at Outer Ring Road outlet, Koramangala outlet and at Kammanahalli outlet).
Shopping Offers :
• Get 15% discount from Tantra on purchase of 3 T-shirts.(offer valid till 30th April 2010).
• Get 10% discount on a minimum purchase of Rs.2500 from Flying Machine.(offer valid till 30th April 2010)
• Get 10% discount on Durian Furniture.(offer valid till 30th April 2010)
• Get 20% discount at Cygnus.(offer valid till 30th April 2010).
• Get 15% discount on Usha Lexus Furniture.(offer valid till 31st October 2010).
Travel Offers :
• Get 10% discount on holiday packages at Fortune Hotels.(offer valid till 31st March 2010)
Reward Points Offers :
• Earn 2 reward points on every spends of Rs.100.
SBI Credit Card Offers
1) SBI Platinum Credit Card
Dinning Offer :
• Get 20% off at Costa Coffee outlets.
Travel Offers :
• Enjoy a cashback of Rs1,500 on hotel booking & holiday booking through Makemytrip.com, just tell the coupon code ?SBICPSL?.
Petrol Offers :
• Fuel surcharge wavier on transaction above Rs.500 and up to Rs.4,000.
Reward Points Offers :
• Get 2% cashback on International spends.
• Earn 1 power point on every spend of Rs.50.
Other Offers :
• Get exclusive discount at Fortis network hospital across the country - Till 31st August 2010
• a) Get up to 50% discount on special health check package.
• b) 10% discount on preventive health check package, OPD consultations, pathological investigations & radiological diagnostics.
• c) 10% discount on In-hospital charges like room rent.
• Use SBI platinum credit card at Apollo Health & Lifestyle Clinics - Offer valid till 31st Aug 2010
• a) Get 50% discount on special health packages worth Rs.9,000.
• b) Get 10% discount on Standard Apollo Health Check-ups.
• c) Get 15% discount on Diagnostics.
2) SBI Gold Credit Card
Dinning Offer :
• Get 20% off at Costa Coffee outlets.
Shopping Offers :
• Get 2% cash back at departmental stores and grocery stores.
• Tanishq offer 6% off on Diamond Jewellery and 15% off on making charges of plain gold jewellery (till 31st May 2010).
Travel Offers :
• Get fabulous offers at Yatra.com
• a)20% off on domestic holiday & hotel booking.
• b)Rs.5000 off on European destinations.
• c)Rs.2,000 off on all Eastern destination holidays.
• Rs.200 off on all domestic Airline Tickets.
Petrol Offers :
• No surcharge on fuel costing Rs.500 to Rs.3000 across all petrol pumps.
Reward Points Offers :
• Get up to 50% bonus on reward point conversion to JPMiles, in between 01 Jan 2010 to 31 March 2010.
• a) Get up to 25% bonus on conversion up to 5500 JPMiles.
• b) Get up to 50% bonus on conversion above 5500 JPMiles.
3) SBI Silver Credit Card
Dinning Offer :
• Get 20% off at Costa Coffee outlets.
Shopping Offers :
• Get 2% cashback at departmental stores and grocery stores.
Petrol Offers :
• No surcharge on fuel costing Rs.500 to Rs.3000 across all petrol pumps.
From: www.deal4loans.com
Disclaimer: The above information is collected from various sources. Deal4loans.com is not responsible for any sudden change in the offers
Barclays Credit Card Offers
1) Barclays Gold
Dinning Offer :
• Get 15% discount at Nirulas,(offer applicable for bill exceeding Rs.200 only till 30th April 2010)
• Enjoy the delicious food with great discounts in your city at various restaurants
• Delhi
• Get 15% discount on food & soft beverages at Asia7.(offer valid till 01 June 2010).
• Get 25% discount on liquor till 10 pm & 15% discount on food till closing at Dawat Khana.(offer valid till 31 May 2010).
• Get 15% discount on food at Flames.(offer valid till 31 May 2010).
• Get 33% discount on liquor( 5pm to 10pm) and 15% discount on food till closing at The Mezz(pub)(offer valid till 31 May 2010).
• Get 15%discount on food and liquor at Clay Oven.(offer valid till 31 May 2010).
• Get 15% discount on food at Desi Ladks.(offer valid till 31 Mar 2010).
• Get 15% discount on bill of more than Rs.400 at Yo!China.(offer valid till 31 Mar 2010).
• Mumbai
• Get 10% discount on food at Flags.(offer valid till 01 June 2010).
• Get 10% discount on food & beverages( Monday to Friday) at 5The Restaurant.(offer valid till 31 May 2010).
• Get 15% discount on food at Bageecha.(offer valid till 31 May 2010).
• Buy 2Thalis and get third one free at Rajdhani.(offer valid till 30 April 2010 & at Chembur, near TBZ, Mumbai Central Railway Station,MG Road,Mulund West and at Crawford Market ).
• Hyderabad
• 10% discount on food at Haveli.(offer valid till 31 May 2010)
• 15% discount on food & beverages at Bottle & Chimney(offer valid till 31 May 2010)
• Buy 2Thalis and get third one free at Rajdhani.(offer valid till 30 April 2010 & at Amerpeet ).
• Get 15% off on food & 10% off on liquor at Padharo(offer valid till 31 May 2010).
• Bangalore
• Get 15% discount on bill of more than Rs.400 at Yo! China.(offer valid till 31 March 2010 and at Outer Ring Road outlet, Koramangala outlet and at Kammanahalli outlet).
Shopping Offers :
• Get 15% discount from Tantra on purchase of 3 T-shirts.(offer valid till 30th April 2010).
• Get 10% discount on a minimum purchase of Rs.2500 from Flying Machine.(offer valid till 30th April 2010)
• Get 10% discount on Durian Furniture.(offer valid till 30th April 2010)
• Get 20% discount at Cygnus.(offer valid till 30th April 2010).
• Get 15% discount on Usha Lexus Furniture.(offer valid till 31st October 2010).
Travel Offers :
• Get 10% discount on holiday packages at Fortune Hotels.(offer valid till 31st March 2010)
Reward Points Offers :
• Earn 2 reward points on every spends of Rs.100.
SBI Credit Card Offers
1) SBI Platinum Credit Card
Dinning Offer :
• Get 20% off at Costa Coffee outlets.
Travel Offers :
• Enjoy a cashback of Rs1,500 on hotel booking & holiday booking through Makemytrip.com, just tell the coupon code ?SBICPSL?.
Petrol Offers :
• Fuel surcharge wavier on transaction above Rs.500 and up to Rs.4,000.
Reward Points Offers :
• Get 2% cashback on International spends.
• Earn 1 power point on every spend of Rs.50.
Other Offers :
• Get exclusive discount at Fortis network hospital across the country - Till 31st August 2010
• a) Get up to 50% discount on special health check package.
• b) 10% discount on preventive health check package, OPD consultations, pathological investigations & radiological diagnostics.
• c) 10% discount on In-hospital charges like room rent.
• Use SBI platinum credit card at Apollo Health & Lifestyle Clinics - Offer valid till 31st Aug 2010
• a) Get 50% discount on special health packages worth Rs.9,000.
• b) Get 10% discount on Standard Apollo Health Check-ups.
• c) Get 15% discount on Diagnostics.
2) SBI Gold Credit Card
Dinning Offer :
• Get 20% off at Costa Coffee outlets.
Shopping Offers :
• Get 2% cash back at departmental stores and grocery stores.
• Tanishq offer 6% off on Diamond Jewellery and 15% off on making charges of plain gold jewellery (till 31st May 2010).
Travel Offers :
• Get fabulous offers at Yatra.com
• a)20% off on domestic holiday & hotel booking.
• b)Rs.5000 off on European destinations.
• c)Rs.2,000 off on all Eastern destination holidays.
• Rs.200 off on all domestic Airline Tickets.
Petrol Offers :
• No surcharge on fuel costing Rs.500 to Rs.3000 across all petrol pumps.
Reward Points Offers :
• Get up to 50% bonus on reward point conversion to JPMiles, in between 01 Jan 2010 to 31 March 2010.
• a) Get up to 25% bonus on conversion up to 5500 JPMiles.
• b) Get up to 50% bonus on conversion above 5500 JPMiles.
3) SBI Silver Credit Card
Dinning Offer :
• Get 20% off at Costa Coffee outlets.
Shopping Offers :
• Get 2% cashback at departmental stores and grocery stores.
Petrol Offers :
• No surcharge on fuel costing Rs.500 to Rs.3000 across all petrol pumps.
From: www.deal4loans.com
Disclaimer: The above information is collected from various sources. Deal4loans.com is not responsible for any sudden change in the offers
Saturday, March 20, 2010
Debit Card Offers for the Month of March 2010
Click on Link for knowing More about the Debit cards Offers from Various banks Visit: - Debit Cards Offers
AbnAmro Bank Debit Card offers
1) International Debit Card
Reward Points Offers :
• Earn 2 Royalty points (equal to Re.1) on retail spends of Rs.100.
• Earn 5 Royalty points (equal to Rs.2.50) on fuel spends of Rs.100.
• Redeem rewards (minimum 500 points) as cash through a phone call to the bank
2) Air India AbnAmro Debit Cards
Travel Offers :
• 10% discount on all Air India Domestic and International Flights.
• Discounts extended to 3 companions too.
• 2 Free Upgrade voucher to Business Class.
Reward Points Offers :
• 200 Bonus Royalty points (worth Rs.100).
• 2 royalty points (=Re.1) on every Rs.100 spends on Retail.
• 5 Royalty points (=Rs.2.50) on every Rs.100 spends on Fuel
3) Gold Debit Card
Reward Points Offers :
• Earn 3 royalty points (=Rs.1.50) on retail spends of Rs.100.
• Earn 5 Royalty points (equal to Rs.2.50) on fuel spends of Rs.100.
• Earn bonus Royalty points for using ATMs, Net Banking, Making utility bill payments etc.
• Redeem rewards (minimum 500 points) as cash through a phone call to the bank.
4) Van Gogh Preferred Banking Gold Card
Travel Offers :
• 10% discount on Duty Free purchases at Flemingo duty free outlets pan India and on board Jet Airways, Air India and Kingfisher Airlines.
Reward Points Offers :
• Get 3 royalty points (=Rs.1.5) on every Rs.100 spends on Retail.
• 5 Royalty points (=Rs.2.50) on every Rs.100 spends on Fuel.
Other Offers :
• Discounts and special access to 15 premier Golf Courses.
5) Premium Debit Card
Travel Offers :
• 10% discount on Duty Free purchases at Flemingo duty free outlets pan India and on board Jet Airways, Air India and Kingfisher Airlines.
Reward Points Offers :
• Earn 2 Royalty points for Retail Spends of Rs. 100(equal to Re. 1)
• Earn 5 Royalty points for Fuel Spends of Rs. 100 (equal to Rs. 2.50).
Other Offers :
• Get discounts and special access to 15 premium Golf Courses.
Axis Bank Debit Card Offers
1) Priority Debit Card
Dinning Offer :
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
Entertainment Offers :
• Get a free ticket for a companion on PVR Cinema tickets booked online on pvrcinemas.com (offer valid till 31 March 2010).
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Petrol Offers :
• Zero surcharge on fuel purchase.
Reward Points Offers :
• Redeem reward points in charity, dinning, electronics, gift voucher, home, kids, lifestyle, magazines and personal.
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics.(till 31st March 2010).
2) Classic Debit Card
Dinning Offer :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics.(till 31st March 2010).
3) Gold Debit Card
Dinning Offer :
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
• Tanishq offers 6% off on diamond jewellery and 15% off on making charges of plain gold jewellery.(till 31st May 2010
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Petrol Offers :
• Zero surcharge on fuel purchase.
Reward Points Offers :
• Redeem reward points in charity, dinning, electronics, gift voucher, home, kids, Lifestyle, magazines and personal.
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics.(till 31st March 2010).
4) Business Gold Debit Card
Dinning Offer :
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Petrol Offers :
• Zero surcharge on fuel purchase.
Reward Points Offers :
• Redeem reward points in charity, dinning, electronics, gift voucher, home, kids, Lifestyle, magazines and personal.
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics. (till 31st March 2010).
From: www.deal4loans.com
Disclaimer: The above information is collected from various sources. Deal4loans.com is not responsible for any sudden change in the offers
AbnAmro Bank Debit Card offers
1) International Debit Card
Reward Points Offers :
• Earn 2 Royalty points (equal to Re.1) on retail spends of Rs.100.
• Earn 5 Royalty points (equal to Rs.2.50) on fuel spends of Rs.100.
• Redeem rewards (minimum 500 points) as cash through a phone call to the bank
2) Air India AbnAmro Debit Cards
Travel Offers :
• 10% discount on all Air India Domestic and International Flights.
• Discounts extended to 3 companions too.
• 2 Free Upgrade voucher to Business Class.
Reward Points Offers :
• 200 Bonus Royalty points (worth Rs.100).
• 2 royalty points (=Re.1) on every Rs.100 spends on Retail.
• 5 Royalty points (=Rs.2.50) on every Rs.100 spends on Fuel
3) Gold Debit Card
Reward Points Offers :
• Earn 3 royalty points (=Rs.1.50) on retail spends of Rs.100.
• Earn 5 Royalty points (equal to Rs.2.50) on fuel spends of Rs.100.
• Earn bonus Royalty points for using ATMs, Net Banking, Making utility bill payments etc.
• Redeem rewards (minimum 500 points) as cash through a phone call to the bank.
4) Van Gogh Preferred Banking Gold Card
Travel Offers :
• 10% discount on Duty Free purchases at Flemingo duty free outlets pan India and on board Jet Airways, Air India and Kingfisher Airlines.
Reward Points Offers :
• Get 3 royalty points (=Rs.1.5) on every Rs.100 spends on Retail.
• 5 Royalty points (=Rs.2.50) on every Rs.100 spends on Fuel.
Other Offers :
• Discounts and special access to 15 premier Golf Courses.
5) Premium Debit Card
Travel Offers :
• 10% discount on Duty Free purchases at Flemingo duty free outlets pan India and on board Jet Airways, Air India and Kingfisher Airlines.
Reward Points Offers :
• Earn 2 Royalty points for Retail Spends of Rs. 100(equal to Re. 1)
• Earn 5 Royalty points for Fuel Spends of Rs. 100 (equal to Rs. 2.50).
Other Offers :
• Get discounts and special access to 15 premium Golf Courses.
Axis Bank Debit Card Offers
1) Priority Debit Card
Dinning Offer :
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
Entertainment Offers :
• Get a free ticket for a companion on PVR Cinema tickets booked online on pvrcinemas.com (offer valid till 31 March 2010).
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Petrol Offers :
• Zero surcharge on fuel purchase.
Reward Points Offers :
• Redeem reward points in charity, dinning, electronics, gift voucher, home, kids, lifestyle, magazines and personal.
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics.(till 31st March 2010).
2) Classic Debit Card
Dinning Offer :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics.(till 31st March 2010).
3) Gold Debit Card
Dinning Offer :
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
• Tanishq offers 6% off on diamond jewellery and 15% off on making charges of plain gold jewellery.(till 31st May 2010
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Petrol Offers :
• Zero surcharge on fuel purchase.
Reward Points Offers :
• Redeem reward points in charity, dinning, electronics, gift voucher, home, kids, Lifestyle, magazines and personal.
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics.(till 31st March 2010).
4) Business Gold Debit Card
Dinning Offer :
• Get 10% discount on bills above Rs.250 (without tax) at Nirulas(offer valid till 31 Aug 2010)
• Get flat 15% off on Pizzas & Garlic Breads at Dominos(offer valid till 31 August 2010).
• Enjoy mouth watering Pizza and Pastas at Pizza Hut and enjoy the meal.
• 1) King Size Meals with Pastas
• a) Feast for 2-Any 2 Pastas, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.415/0
• b) Feast for 4-Any 4 Pastas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.799.
• c) Feast for 6-Any 6 Pastas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1105.
• 2) King Size Meals with Pizzas
• a) Feast For 2-Any 1 medium pizza, 1 portion of Garlic Bread or Tortilla and 2 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.395.
•
• b) Feast For 3- Any 2 medium pizzas, 2 portions of Garlic bread or Tortilla and 4 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.750.
• c) Feast For 6-Any 3 medium pizzas, 3 portions of Garlic bread or Tortilla and 6 glasses of Pepsi/ 7 Up/ Mirinda/ Lemonade/ Iced Tea @ Rs.1080.
• (Offer valid till 30 December 2010).
Shopping Offers :
• Get 15% discount on total bill at Vimal(offer valid till 31 Aug 2010)
• In exchange of old Denim Jeans/Jacket (any brand, on any size),buy Levis Strauss worth Rs.2,999 and take Rs.500 off on the total bill and on purchase of Rs.5,999 get Rs.1,200 off on the total bill.(offer valid till 31 Mar 2010).
• On purchase of above Rs.10,000 from Diti Jewellery get Rs.1000 gift voucher.(offer valid till 31 May 2010)
Travel Offers :
• Get 10% off on hotels and holiday packages booked on TravelGuru (offer valid till 31 March 2010)
Petrol Offers :
• Zero surcharge on fuel purchase.
Reward Points Offers :
• Redeem reward points in charity, dinning, electronics, gift voucher, home, kids, Lifestyle, magazines and personal.
Other Offers :
• 15% discount on Diagnostic at The Apollo Clinics. (till 31st March 2010).
From: www.deal4loans.com
Disclaimer: The above information is collected from various sources. Deal4loans.com is not responsible for any sudden change in the offers
Thursday, March 18, 2010
LIC Credit Card is a best deal in Credit Card.
Lic of India the world number 1 insurance company has just come in to credit card business along with its channel partner Corporation Bank. LIC of India has more than 1 million agents and 2048 branches in India to sell its LIC Policy and and other products like LIC credit card etc
LIC Card Services will be selecting the best in business as payment gateway channel partner.
Life Insurance Corporation of India will enter into a joint venture to launch its credit card business. Life Insurance Corporation of India (LIC), LIC Card Services - A credit Card company will be setup in compliance with RBI regulations.
LIC Credit Cards Services
With no credit card services, companies would lose on many domestic as well as international transactions. Many companies who do not accept new age credit card system as a payment method are not considered as techno savvy companies. Lic of India has understood that the time is right to launch a credit card as a payment method for all Lic premium payment so that they can remain undisputed leader in the world of Insurance and Investment throughout India
Why you should Apply for a LIC Credit Card
Reputation and Brand Image
Reputation and Brand Image
Financial Control
Online premium payment
No Illegal Recovery Methods
LIC Card Services will be selecting the best in business as payment gateway channel partner.
Life Insurance Corporation of India will enter into a joint venture to launch its credit card business. Life Insurance Corporation of India (LIC), LIC Card Services - A credit Card company will be setup in compliance with RBI regulations.
LIC Credit Cards Services
With no credit card services, companies would lose on many domestic as well as international transactions. Many companies who do not accept new age credit card system as a payment method are not considered as techno savvy companies. Lic of India has understood that the time is right to launch a credit card as a payment method for all Lic premium payment so that they can remain undisputed leader in the world of Insurance and Investment throughout India
Why you should Apply for a LIC Credit Card
Reputation and Brand Image
Reputation and Brand Image
Financial Control
Online premium payment
No Illegal Recovery Methods
Sunday, March 14, 2010
Dangerous substances can now be conveyed from CRZs
The Supreme Court stated last week that hazardous substances could be conveyed from coastal regulation zones (CRZ) to industrial units, though an amendment to the CRZ rules totally prohibited any such movement. The 1997 amendment to a central government notification of 1991 on carrying hazardous substances from ports to the industrial units was not “happily worded”, the court said. In order to make the rule workable, the court re-interpreted the vague phrases to enable industries to carry imported hazardous substances from ports to their factories.
The court did so while dismissing environmental objections to a Rs 600 crore plant in the appeal case, M. Nizamudeen vs Chemplast Sanmar Ltd. Several public interest petitions were filed by individuals in the Madras high court and the Supreme Court against the chemical plant. The Supreme Court rejected all objections based on the CRZ rules and allowed the plant to continue production. The judgment did not deal with the plea of Chemplast company that the cases were instigated by its rival, Cuddalore Powergen Corporation Limited.
IT liability on royalty paid for software duplication
The Supreme Court has allowed the appeal of the Commissioner of Income Tax in a batch of appeals from Gujarat, raising the question of tax liability in relation to payment of royalty by Indian companies to foreign ones for duplicating software in India and supplying them to the end-users. In one typical case, Mastek Ltd claimed deduction on the royalty payment under Section 37 of the Income Tax Act. It argued that for each copy duplicated and sold to customers in India (including Reliance Industries and Air India), it had paid royalty to the US corporation based on its sale value and, thus, such payment towards royalty formed part of the expenditure incurred by it in making the sales.
The assessing officer did not agree with it and asserted that only one-sixth of the payment was deductible under Section 35A. When the company appealed, the Commissioner (Appeals) and the appellate tribunal accepted the company’s view. The Gujarat high court did not re-examine the issue. The Supreme Court remanded the case to the high court as “we are of the view that an in-depth exercise needs to be carried out to understand the actual process undertaken by the company in the light of the contract/arrangement with the US corporation.”
Credit card holder in the clear
A credit card holder who has not used his card could still move a consumer forum if there is deficiency in service of the bank which issued the card. The West Bengal State Consumer Commission said so last week in the case, Abhijit Sarkar vs SBI Cards and Payments Services (P) Ltd. The credit card holder had not used the card but substantial amounts were debited by State Bank of India from his account due to operations of miscreants.
When he moved the district consumer forum, it dismissed the complaint observing that since he had not used the card, he was not a consumer according to the Consumer Protection Act. It also stated that he had filed a first information report with the police regarding the transactions and therefore he could not move the consumer forum. He appealed to the state commission, which took a view favourable to him on both counts. It stated that filing of an FIR would not debar the person from moving the consumer forum. Moreover, even if he had not used his card, he would still be a consumer in the eye of the law.
The court did so while dismissing environmental objections to a Rs 600 crore plant in the appeal case, M. Nizamudeen vs Chemplast Sanmar Ltd. Several public interest petitions were filed by individuals in the Madras high court and the Supreme Court against the chemical plant. The Supreme Court rejected all objections based on the CRZ rules and allowed the plant to continue production. The judgment did not deal with the plea of Chemplast company that the cases were instigated by its rival, Cuddalore Powergen Corporation Limited.
IT liability on royalty paid for software duplication
The Supreme Court has allowed the appeal of the Commissioner of Income Tax in a batch of appeals from Gujarat, raising the question of tax liability in relation to payment of royalty by Indian companies to foreign ones for duplicating software in India and supplying them to the end-users. In one typical case, Mastek Ltd claimed deduction on the royalty payment under Section 37 of the Income Tax Act. It argued that for each copy duplicated and sold to customers in India (including Reliance Industries and Air India), it had paid royalty to the US corporation based on its sale value and, thus, such payment towards royalty formed part of the expenditure incurred by it in making the sales.
The assessing officer did not agree with it and asserted that only one-sixth of the payment was deductible under Section 35A. When the company appealed, the Commissioner (Appeals) and the appellate tribunal accepted the company’s view. The Gujarat high court did not re-examine the issue. The Supreme Court remanded the case to the high court as “we are of the view that an in-depth exercise needs to be carried out to understand the actual process undertaken by the company in the light of the contract/arrangement with the US corporation.”
Credit card holder in the clear
A credit card holder who has not used his card could still move a consumer forum if there is deficiency in service of the bank which issued the card. The West Bengal State Consumer Commission said so last week in the case, Abhijit Sarkar vs SBI Cards and Payments Services (P) Ltd. The credit card holder had not used the card but substantial amounts were debited by State Bank of India from his account due to operations of miscreants.
When he moved the district consumer forum, it dismissed the complaint observing that since he had not used the card, he was not a consumer according to the Consumer Protection Act. It also stated that he had filed a first information report with the police regarding the transactions and therefore he could not move the consumer forum. He appealed to the state commission, which took a view favourable to him on both counts. It stated that filing of an FIR would not debar the person from moving the consumer forum. Moreover, even if he had not used his card, he would still be a consumer in the eye of the law.
Tuesday, March 9, 2010
Credit crisis or not, card cos to succeed
The first Diners Club credit card was unveiled back in February 1950. The Diners Club card, used mainly for travel and entertainment purposes, became the first credit card for widespread use and eventually changed the way consumers make purchases. Sixty years later, what is the state and the future of the credit card industry?
Despite the ‘credit crisis’ of 2008, not much has been said about credit card companies and their role as capital providers to individuals and households. Banks were the culprits, but also the victims of the largest drop in stock market indices in decades. Yet, the stock price performance of credit card companies which are publicly traded (Amex, Mastercard and Visa) has been impressive.
Since April 2008, with the S&P 500 index losing almost 33% on a cumulative basis, all three companies have out-performed the market.
The market performance of credit card companies is not surprising. While the reduction of interest rates due to the recession has allowed financial institutions to lower their borrowing costs and therefore emerge almost harmless from the crisis, individual consumers and households seem to have not enjoyed such a favourable environment. Indeed, Visa’s net operating income in FY09 was $2 billion, up 13% from the previous year.
A credit card company is only a network of processing services, by which issuers and acquirers transfer payment from the cardholder to the merchant. In the process, merchants pay fees for the payment processing, and cardholders pay interest on their credit card balances. This is a very profitable business model, but it would be a mistake to assume that credit card companies issue credit cards. Nor do they determine the rates they charge to customers, or the fees that merchants pay to acquirers.
Visa, Mastercard and AMEX make money from fees that issuers and acquirers pay. Such a profit generating system translates into an atypical balance sheet structure. Mastercard, for instance, is a $6.4 billion company (at the end of 2008), of which $4.3 billion are cash and other liquid assets, $700 million are intangibles, and $500 million are deferred income taxes. On the liabilities side, the company has virtually no debt, and it is financed mostly by current liabilities, and $2 billion in equity. Visa is even impressive, with $20 billion in intangibles out of a total size of $32 billion, of which $8 billion are liquid assets.
Who wouldn’t want to invest in companies like these? They are swimming in cash, are extremely profitable and can sail through a financial crisis by transferring their interest rate risk to customers, issuers and acquirers. Since its IPO in 2005, the cumulative return on Mastercard stock has been more than 500%, which is equivalent to a 38% annual return.
But, unfortunately if there is something that credit card products do not need, it is investors. They are rich, do not need to finance heavy capital investments. It turns out, however, that Mastercard did go public, as did Visa, in 2008. Their reasons were non-financial. Mastercard had a severe problem of image.
Mastercard solved its problems by going public, earning a great reputation through its after-market performance and by putting most of the money raised in the IPO in a foundation. Visa had to create an escrow account that would cover litigation (some $3 billion) started against the company by Discover and Amex, among others. Their public offerings were among the most successful of the recent years.
What would happen though if, as some commentators say, the next financial crisis is a personal credit crisis? First of all, such a crisis seems now further away than ever. With low-interest rates and social pressure, a household credit crisis would be the last event that any government could now afford.
Additionally, I hope this article clarifies that it would not be the credit card companies that would suffer the most — they are cash shielded, do not get directly impacted by the default of the final customer and are owned by banks, which are by far healthier than two years ago. There is little reason to doubt that the first credit card launched 60 years ago will not continue to thrive and be a part of our every day lives for the decades ahead
Despite the ‘credit crisis’ of 2008, not much has been said about credit card companies and their role as capital providers to individuals and households. Banks were the culprits, but also the victims of the largest drop in stock market indices in decades. Yet, the stock price performance of credit card companies which are publicly traded (Amex, Mastercard and Visa) has been impressive.
Since April 2008, with the S&P 500 index losing almost 33% on a cumulative basis, all three companies have out-performed the market.
The market performance of credit card companies is not surprising. While the reduction of interest rates due to the recession has allowed financial institutions to lower their borrowing costs and therefore emerge almost harmless from the crisis, individual consumers and households seem to have not enjoyed such a favourable environment. Indeed, Visa’s net operating income in FY09 was $2 billion, up 13% from the previous year.
A credit card company is only a network of processing services, by which issuers and acquirers transfer payment from the cardholder to the merchant. In the process, merchants pay fees for the payment processing, and cardholders pay interest on their credit card balances. This is a very profitable business model, but it would be a mistake to assume that credit card companies issue credit cards. Nor do they determine the rates they charge to customers, or the fees that merchants pay to acquirers.
Visa, Mastercard and AMEX make money from fees that issuers and acquirers pay. Such a profit generating system translates into an atypical balance sheet structure. Mastercard, for instance, is a $6.4 billion company (at the end of 2008), of which $4.3 billion are cash and other liquid assets, $700 million are intangibles, and $500 million are deferred income taxes. On the liabilities side, the company has virtually no debt, and it is financed mostly by current liabilities, and $2 billion in equity. Visa is even impressive, with $20 billion in intangibles out of a total size of $32 billion, of which $8 billion are liquid assets.
Who wouldn’t want to invest in companies like these? They are swimming in cash, are extremely profitable and can sail through a financial crisis by transferring their interest rate risk to customers, issuers and acquirers. Since its IPO in 2005, the cumulative return on Mastercard stock has been more than 500%, which is equivalent to a 38% annual return.
But, unfortunately if there is something that credit card products do not need, it is investors. They are rich, do not need to finance heavy capital investments. It turns out, however, that Mastercard did go public, as did Visa, in 2008. Their reasons were non-financial. Mastercard had a severe problem of image.
Mastercard solved its problems by going public, earning a great reputation through its after-market performance and by putting most of the money raised in the IPO in a foundation. Visa had to create an escrow account that would cover litigation (some $3 billion) started against the company by Discover and Amex, among others. Their public offerings were among the most successful of the recent years.
What would happen though if, as some commentators say, the next financial crisis is a personal credit crisis? First of all, such a crisis seems now further away than ever. With low-interest rates and social pressure, a household credit crisis would be the last event that any government could now afford.
Additionally, I hope this article clarifies that it would not be the credit card companies that would suffer the most — they are cash shielded, do not get directly impacted by the default of the final customer and are owned by banks, which are by far healthier than two years ago. There is little reason to doubt that the first credit card launched 60 years ago will not continue to thrive and be a part of our every day lives for the decades ahead
Monday, March 8, 2010
ABN Amro cuts credit cards Limit
ABN Amro India has cut the credit limit of some credit card customers to a tenth and raised the minimum amount payable to 7% of total dues from 5%, possibly to persuade them to surrender their Credit Cards as it draws closer to selling its retail operations to UK’s Hong Kong and Shanghai Banking Corp (HSBC).
ABN Amro, owned by UK’s troubled Royal Bank of Scotland, or RBS, has also decided to freeze fresh retail lending, including credit card and personal loans, to arrest a pile-up of bad loans, two people familiar with the matter told ET.
One of them, a senior bank executive, said even at the peak of the financial crisis, ABN Amro did not resort to such drastic cuts.
An ABN Amro spokesperson called the move a standard industry practice. "As a responsible lender, we review card limits and take appropriate action on an ongoing basis to protect our customers and manage risk," she replied by email.
Although ABN Amro had no comment on the number of credit card users, a person familiar with ABN Amro’s operations said it has more than 4 lakh active credit card users. The bank’s strategy, he said, could be to discourage users and get them to give up their cards or reduce their credit exposure.
ABN Amro has been up against a large number of employee exits to competitors after the deal with HSBC came to light. It has also laid of some of its employees in the credit card and personal loan departments.
Currently, the bank has around 2,854 employees, down from 3,300 in early 2008. About 2,500 are in the retail and commercial banking department. It has another 8,500 in its two outsourcing arms.
ABN Amro, owned by UK’s troubled Royal Bank of Scotland, or RBS, has also decided to freeze fresh retail lending, including credit card and personal loans, to arrest a pile-up of bad loans, two people familiar with the matter told ET.
One of them, a senior bank executive, said even at the peak of the financial crisis, ABN Amro did not resort to such drastic cuts.
An ABN Amro spokesperson called the move a standard industry practice. "As a responsible lender, we review card limits and take appropriate action on an ongoing basis to protect our customers and manage risk," she replied by email.
Although ABN Amro had no comment on the number of credit card users, a person familiar with ABN Amro’s operations said it has more than 4 lakh active credit card users. The bank’s strategy, he said, could be to discourage users and get them to give up their cards or reduce their credit exposure.
ABN Amro has been up against a large number of employee exits to competitors after the deal with HSBC came to light. It has also laid of some of its employees in the credit card and personal loan departments.
Currently, the bank has around 2,854 employees, down from 3,300 in early 2008. About 2,500 are in the retail and commercial banking department. It has another 8,500 in its two outsourcing arms.
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