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How Do Credit Card Companies Make Money?

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Credit cards have gained much popularity in India over the last few years. Public sector banks as well as private banking institutions have come forward to launch a host of credit cards suiting customers with different types of needs. HDFC Credit Cards and SBI Card are the two companies with the largest market share. While banks are ready to offer you with a small loan in the form of credit cards, have you ever wondered how these banking institutions make money from these ventures? The three main ways how card issuers make money is through the annual fee of the card, interest charged on late payment, penalties on skipping EMIs, etc. At the same time, they also earn from the businesses that accept these cards. Businesses are required to pay transaction fees to the banks which also makes up for significant earning of the card issuer banks. But before we dig deeper into how they make money, let us first understand the term 'Credit Card Companies'. It is easy to get confu...
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HDFC Credit Cards For Special Purpose and Different People

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Check hdfc credit card balance   relieves from the risk of carrying hefty cash to make a purchase. Among the private sector banks in India HDFC is one of the names which offer its customers a range of credit cards to add buying power, do cashless shopping or budgeting expenditure. HDFC bank has designed its range of cards to meet unique needs of different customers. HDFC credit cards in India are classified in different categories: Classic Cards Silver Credit Card: This card is a All - purpose credit card. When you use this card you earn 1 reward point for every Rs 150 spend. You get add on card with this, have zero liability on lost card and the card is widely accepted. Premium Cards Gold Credit Card: This card offers cash back on booking of air / rail tickets. You get 2 reward points for every Rs 150 spent which can be redeemed against air miles. Then there is a facility of revolving credit and also gets free add on card. Titanium Credit Card: This card gives you...
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