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❓ Credit Card — Quick Answers
Which is the best credit card for new users in India?
Depends on spending pattern. For online shopping and dining: Amazon Pay ICICI or SBI SimplyClick. For airport lounge access: Axis Magnus or HDFC Millennia. For fuel: BPCL SBI or ICICI HPCL. Start with a no-annual-fee card, then upgrade as spending grows.
How do credit card interest rates work?
Interest is charged at 30-45% per year (2.5-4% per month) on the outstanding balance if you don't pay in full by the due date. Interest starts accruing from the transaction date once you miss full payment, not from the due date. Always paying in full avoids all interest charges.
What is the credit utilization ratio?
It's your total outstanding card balance divided by total credit limit. Keeping it under 30% is ideal for your CIBIL. Utilization above 50% starts hurting your credit score noticeably. If you spend heavily, prepay before the statement date so the reported balance is low.
How can I dispute a wrong credit card charge?
File a chargeback within 60-90 days (varies by network) via your card issuer's app or customer care. Documentation needed: transaction proof, correspondence with the merchant, description of the dispute. If unresolved by the bank, escalate to RBI Banking Ombudsman via cms.rbi.org.in.