[Indians] - Which Credit Card? New Paypal Issue Solution 29-01-2011

1 replies
Hi Indian Friends,

Almost all of you must have realized that RBI & Paypal has bombed us once again.

Instead of blaming RBI, the Congress, Paypal, lets do some thing constructive

I'm an undergraduate here and started earning selling my Photoshop, Web Desigining Skills and web hosting services.

Some of us might need credit cards, now that is fact. The best alternative is having it against Fixed Deposit.

1) Which banks provide CC against Fixed Deposit?
2) What is the minimum limit of FD required?
3) How much time will it take to have credit card in our hand?
4) Which bank charge low rates?
5) Stay away from this bank ... (if you have any past experience)
6) Direct Link To CC of bank website(s).

Please share above info

This might help every one.

Thanks in advance!
#card #credit #indians #issue #paypal #solution
  • Profile picture of the author apoorv.parijat
    Originally Posted by Ethical Geek View Post

    Hi Indian Friends,

    Almost all of you must have realized that RBI & Paypal has bombed us once again.

    Instead of blaming RBI, the Congress, Paypal, lets do some thing constructive

    I'm an undergraduate here and started earning selling my Photoshop, Web Desigining Skills and web hosting services.

    Some of us might need credit cards, now that is fact. The best alternative is having it against Fixed Deposit.
    Yep, true, true. Here are my answers.

    1) Which banks provide CC against Fixed Deposit?

    - I just got one with HDFC within 20 days of opening a current account with a good deposit. The FD amount doesn't matter - but you'll get a limit lower than the amount for sure. It's good to do a FD of 30kish, in my opnion, because that allows you a better limit. That was not in my name, it was in the name of a Pvt. Ltd. company.

    2) What is the minimum limit of FD required?

    - The person who came to my house for the papers and all said it was around 20,000. However, the higher up you go, the better credit limit you can get.

    3) How much time will it take to have credit card in our hand?

    - Depends on the bank, however, HDFC said 20 days (and took 23). I talked to ICICI but they said it'd take 2 months-ish. Citibank, HSBC, Standard Chartered et al didn't provide CC shortly after opening a current account.

    4) Which bank charge low rates?

    - No idea, have always had only HDFC CCs (co-incidence hehe)

    5) Stay away from this bank ... (if you have any past experience)

    - Nope, none. I've only used HDFC, Citi and ICICI and all are very, very good.

    6) Direct Link To CC of bank website(s).

    - Didn't get the question entirely.
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