Corporates can now offer perks via gift cards:permits RBI

26 Aug 2011 | by Mildred Matthews | No Comments »

Regulator Reserve Bank of India has agreed to allow companies to issue prepaid cards to their employees as perks. This step by the regulator is a move towards promoting cashless settlements.

Prepaid cards can be issued to employees as gift cards with preloaded amount of money equivalent to their perk amount.

The maximum amount that can be loaded in the card is Rs 50,000.

“Pre-paid payment instruments can be issued only to corporate entities listed in any of the stock exchanges in India,” read a notice by RBI.

“This would enable corporates to make employee reimbursements, which include payment of telephone bills, travel expenses and related payments, hassle free,’ said Uttam Nayak, group country manager, India and South Asia at Visa International.

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Tags: Perks Perks Gift

Equifax: More new credit cards being issued

25 Aug 2011 | by Porfirio Hillman | No Comments »

The total number of new bank-issued credit cards issued in May 2011 grew on an annual basis, according to a recent report from Equifax.

From May 2010 to May 2011, the total number of new bank-issued credit cards grew 27 percent, Equifax said. During the time frame of January 2011 through May 2011, nearly 15 million new credit cards were issued, which represents the highest mark in 3 years.

Despite the fact that this is a 3-year high, though, this 15-million mark is still well below the total of 28.5 million new credit cards that originated in the time frame of January 2007 through May 2007 – before the recession.

“The rebound we are seeing in total new bankcard originations certainly provides some level of positive traction in the industry, but it should also be noted that we still have a long way to go to achieve a true return to normalcy for the market,” Michael Koukounas, Senior Vice President – Special Client Services for Equifax, said in a statement.

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Tags: Credit Cards Issued

Emily’s list: Too many deals edition

25 Aug 2011 | by Mildred Matthews | No Comments »

I have trouble saying no to a great deal that I think I might use. But a deal isn’t actually a deal when you don’t need it in the first place.

Every morning, I wake up to an inbox clogged with deals from Groupon, Living Social, Buy With Me, Localiter, Eversave and other social deal sites. I usually succumb when I see a deal for a restaurant I love, or a service I’ve been wanting (such as a massage or oil change). Sometimes it works out perfectly and they are put to great use. I have happily redeemed many of these deals since they came into the picture. Other times, I realize too late that I have wasted money. Maybe it’s because the deal was for $25 of food, but it’s at a restaurant where you can’t leave without spending at least $50. Maybe it’s exercise classes that sound cool at the time, but it’s inconvenient.

It got to the point where I lost track of which coupons were with which site.

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Tags: Deals Deals Edition

How to Build an Impressive Credit Score

24 Aug 2011 | by Porfirio Hillman | No Comments »

Why is it that some people have fantastic credit scores, but you just can’t seem to get yours over 650? Although there are no secrets to an impressive credit score, there are a number of things some savvy consumers know to do to ensure their credit score is near the top.

Here’s what you need to do if you want to build a strong credit score:

  • Begin building a credit history as early as possible. In other words, don’t wait until you’ve graduated from college to begin worrying about your credit score. Instead, when you turn 18 and are gainfully employed, begin by establishing your credit with a secured credit card or a retail credit card. Make paying those credit cards every month an absolute priority and never, ever miss a payment. Keep your debt to a minimum and you can expect your credit score to begin taking shape rather quickly.

  • Pay for purchases with plastic. The onl

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Tags: Credit Score Impressive Credit Impressive Credit Score Score
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