If you use Credit Cards, this thread is for you.

We’ll discuss some cool hacks to understand payments, save fees and how to avoid charges!🧵⬇️

#Payments #Fintech #Banking #CreditCards 💳
Credit Card Bills aren’t like Electricity Bill and you can literally pay any amount whenever you want, regardless of billing cycle and dates.

e.g - You can pay in advance or even before bill generation date for 0 outstanding. (1/n)
Now this is very important, we’re talking about Payment.

Always consider paying in full and don’t carry forward balances to the next month, minimum due is a trap. In case if you’ve large debt, take a personal loan and settle off your dues asap! (2/n)
Don’t make exact payment, make a habit to make payments in the Round of next 10 or 100

So if my bill is ₹3356.80, I always pay ₹3400. Your card will have excess balance and the same can be used in next transaction, it will save you from unwanted penalty! (3/n)
If you use 3rd party app for credit card payments like CRED, Paytm, Mobikwik or even Billdesk. Make payments at least 3 days in advance to ensure timely settlement. (4/n)
Only best option I find is making payments directly from the net/mobile banking, in most cases it’s instant and will save your back in case of any delays. (5/n)
Now this is a common question I hear from people, I want a FREE Card and don’t want to pay annual fee etc.

In fact no one wants to but remember good value doesn’t come for free, you need to pay premium for it and that’s why great credit card comes with a cost. (6/n)
For reference out of my 22 credit cards. 16 are paid and 9 high end cards alone have annual charges around ₹70k but they obviously worthy of that benefits to me,

Now this is subjected to one’s spending, income and transaction patterns! (7/n)
So how do you get the charges reversed?

That’s a bit tricky, most of the premium cards comes with spend based waiver so if you spend ₹’X’ in a year and your fee will be reversed But if you fail to do so. (8/n)
You can request for a retention and relationship based waiver, banks don’t want to lose honest customers!

Hope you enjoyed reading thread, RT if this helps, for more awareness.

Will write ✍️ a detailed one on Credit Card Rewards and Rent Payments next week! (9/9) ✅

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More from @Ravisutanjani

21 May
Today’s Data Breach Day 🖥

After Air India, Domino’s Pizza is joining the party, I incapable every time when I see a cyber attack. Actually, we and our government doesn’t seem takings data protection and cybersecurity seriously.

Here're few resources that can help you! 🧵⬇️
First of all, here, you can check for recent data breaches using your e-mail - monitor.firefox.com

Pretty Useful ⬇️
Mobikwik, Dunzo, BigBasket, Juspay etc.

Data breaches are common these days and it becomes difficult when it contains sensitive and financial information such as credit, debit card details, password etc.

In order to protect yourself here are few things which you can consider-
Read 6 tweets
20 May
SPAM and Telemarketing ⬇️⛔️

I’m fucking frustrated with some shameless companies, despite DND, emails and requests these scammers don’t leave a chance to irritate.

I’m filing an appeal with regulators, name the company and do share your experience. I promise to take it ahead.
I’m starting with PolicyBazaar, Dhani, Rupeek and Bajaj Finserv.

Was doing a product research so had to sign up for feasibility and to review their offerings.

Now they don’t miss a chance to spam me, every day I receive shitty phone calls from their agents!
@Truecaller said 98.5% of all spam calls in India came from domestic numbers obvious due to lockdown and this makes difficult for authorities to identify between commercial and personal usage. Image
Read 6 tweets
19 May
Okay so now everyone can see bloodbath around #cryptocurrency 🛑

Let me tell you something, I’ve been in crypto before the trend, invested through Unocoin in 2016.

My holdings were locked till Supreme court orders, and booked massive gains in the last really!

Learnings ⬇️🧵
I never ever consider #cryptocurrency as an asset class and strictly advice to anyone if you’re investing for diversification etc.

Beware from people who talk about decentralisation, future etc!
You can take a ride if you’ve excess cash and you’re ready to lose it,

There’s a high probability that it may give you massive returns or can become 0 as well.

Understand your risk profile before investing, Elon Musk and your friends wouldn’t compensate for your losses!
Read 4 tweets
18 May
I had started trading in the Equity Market way back in 2016. Had absolutely no idea about the stock market so made a lot of mistakes and have learned some meaningful lessons.

I see people share their profits but showing losses are equally important, Here you go! ⬇️💡🧵
2) Except for some initial losses, I've been profitable in Equity. I never enjoy Intraday trades so BTST and Delivery worked well in my case,

In 2020 IPOs had a major share in making number greens. F&O is a big 'No' unless you’re giving full time and have such a risk appetite.
3) In 2017 I was sitting with around +60k in equity profits and 3 big trades (wrong) turned everything red 🔻 so I'd to take a break.

Tried to fun with F&O in 2020 and again lost a big sum of money, profit of +95k turned into -41k due to some stupid calls and 'GREED.'
Read 16 tweets
17 May
Gold is one of the most favoured investment options for Indians and it works as a hedge against inflation.

Sovereign Gold Bond 2021-22 Series I is open for subscription from May 17, 2021, to May 21, 2021

Date of Issuance-May 25, 2021

SGB Price-₹4727/g
Gold Price-₹4979/g
SGBs are government securities in grams of gold, issued by the RBI on behalf of the Government of India.

Official information is on the RBI webpage - rbi.org.in/Scripts/FAQVie…

If you have an 8-year horizon, SGBs are the best choice as you can save LTCG tax.
Where can you buy SGBs?

You can buy it from your bank, post offices, NSE/BSE, either directly or through agents.

You can apply for Sovereign Gold Bonds through your Net Banking or Demat accounts, like Zerodha, Upstox etc.

zerodha.com/gold/
Read 11 tweets
15 May
5 Years and 21 Credit Cards, ⬇️

Never paid a single ₹ as int, charges or penalty, using high-end cards that includes 3 American Express, 2 HDFC Diners, Citi etc.

Churned around 3 Lakhs till date in the form of Airline, Hotel Voucher, Cashback etc. (I maintain a tracker!)
I can certainly understand if someone uses a CC without any discipline they’re bound to fall into the debt trap,

As I said, it’s a pure blessing for people who know how to use them effectively, my TL is full of information about CCs and their amazing benefits.
You can conveniently pay via your bank accounts like UPI or Debit Cards, but technically you're funding the MDR which merchants pays to Bank/PG and they spends money on marketing,

That benefits aware CC holders, obviously banks doesn’t like us who pays before or on-time.
Read 6 tweets

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