Tag: credit card

Business

EaseMyTrip, PNB Collaborate to Introduce PNB EMT Co-branded Credit Card

Mar 5, 2024 by Mansi Praharaj 0 Comments #credit card, #EaseMyTrip, #Mr Nishant Pitti, #New Delhi, #PNB

New Delhi, 5 March 2024:  EaseMyTrip, one of India’s largest online travel tech platforms, has partnered with Punjab National Bank (PNB), nation’s leading public sector bank, to launch “PNB EMT Credit Card”. This power-packed co-branded travel credit card is aimed at mass to premium customer segments and has been meticulously designed to offer a variety of rewards for the Indian travellers.

Customers can log in to easemytrip.com or pnbindia.in or PNB ONE App to avail this credit card and earn rewards in a variety of categories, including flights, hotels, and holiday packages. Furthermore, this new credit card includes a wallet for contactless payments, which is completely hassle-free and secure as the card information is encrypted before being transmitted to the merchant’s PoS machine.

Sharing his excitement about the partnership, Mr Nishant Pitti, CEO, EaseMyTrip, said, “We are thrilled to partner with Punjab National Bank to unveil the ‘PNB EMT Credit Card,’ a distinctive co-branded travel credit card aimed at providing a seamless and rewarding experience to our customers. This collaboration is a testament to our commitment to innovation and customer satisfaction. With exclusive benefits in flights, hotels, and holiday packages, paired with a secure and hassle-free contactless payment option, we are excited to redefine the travel experience for our customers. This partnership reflects our shared dedication to offering unparalleled value to our users, making their journeys memorable.”

Speaking during the launch of the new co-branded credit card PNB MD & CEO, said, “Innovation is key to our success, and as a result we continue to develop partnership models that provide customers with a unique value proposition that is tailored to their evolving needs. Our collaboration with EaseMyTrip reflects our shared commitment to provide customers unmatched benefits on travel related spends. We believe that this new offering will significantly add value to our customers and provide them an unparalleled travel experience.”

Exclusive Benefits of PNB EMT Credit Card include:

Welcome Gift ●      At the time of joining, customers will receive a welcome gift voucher worth Rs 3000 and 300+ reward points on activation.

 
Cashback ●      Cardholders can avail cashback upto 4 transactions per card in a month in categories including flights, hotels, and holiday package.

 
Discounts ●      Flat 10% discount on (or upto Rs. 1000 on domestic and Rs. 5000 on international) flight bookings.

●      Flat 20% discount on (or upto Rs. 5000 on domestic and Rs. 10,000 on international) hotel bookings.

●      Customers can also avail Flat Rs. 125 off on bus bookings on minimum order value of Rs. 500.

 
Airport Lounge Access ●      Complementary visit to select 30+ Domestic Lounges in 17 cities in India (Twice per Quarter)

●      Complementary visit to 500+ International Lounges in 300 cities worldwide (Twice a Year)

 
Insurance ●      Customers can avail insurance coverage upto Rs. 2 lakhs for accidental death and personal total disability.

 
Fuel Surcharge ●      Fuel surcharge waiver of 1% is valid for transactions of amount greater than Rs. 500 & less than Rs. 4000 (Minimum Rs 12.50 and Maximum Rs. 250 within a billing cycle).

 
Renewal fee waiver ●      The renewal fee waiver is applicable on achieving annual spend milestone of Rs. 1 lakh in the preceding year.
Business

Things to keep in mind while opting for EMI on your credit card

Jan 26, 2022 by Praveen 0 Comments #credit card, #EMI, #Mayank Markanday

By, Mr. Mayank Markanday, Head of Credit Cards, AU Small Finance Bank.

We all aspire in life. Be it going on a dream vacation, taking an online course, buying the best DSLR camera, or the latest iPhone or getting a modern refrigerator or oven for our moms. In such cases credit cards can be extremely beneficial, provided they are used wisely and judiciously. These cards offer greater convenience while making payments easy and eliminate the need of carrying liquid cash. Also, by converting your credit card transactions into easy equated monthly instalments (EMIs) you can make a high-priced purchase without burning a hole in your pocket. Being able to purchase big-ticket products on EMI is probably one of the leading factors that attracts people towards credit cards.

When to convert purchases into EMI

EMI on credit card can be useful and convenient, however there are circumstances in which it is advisable to use this facility. EMIs are useful when you want to buy something that your bank balance doesn’t support. Also, when you end up spending more on your credit card, EMIs can save you from the high interest rates. In this case, getting the EMI option can reduce your interest rate by half. Moreover, these options are available on click of button or through a call itself, there is no need for any extra documentation or process to follow. Sometimes even your Credit Card statement can help you find this option.

Things to keep in mind when you opt for the EMI option on credit cards.

Processing fee: EMI schemes are subject to a nominal processing fee. Please check before opting. Moreover, many banks also provide zero EMI offers that you can take advantage of.

Available credit: You should ensure that you have enough credit in your card so that your EMI request is not rejected. The credit amount should be more than or equal to the amount you want to convert into EMIs.

Provisional decline of your credit limit: As soon as your EMI scheme begins, your bank will temporarily block an amount equal to the value of the purchase you have made through the EMI option. However, as you start paying back your EMIs, your bank will again start increasing your credit limit by the amount equal to your monthly EMI.

Know what can be converted and what not: Different banks have different things or items which they permit to be paid via EMI that include purchase of electronic devices, travel expenses, purchase of apparel, lifestyle related expenses, insurance expenses, etc. However, most banks do not allow customers to make EMI payments for purchase of jewellery and precious metals like gold, silver etc.

Advantages of Converting Purchases to EMIs

Manageable Financing Option: By choosing the EMI payment facility, the customers can repay the debt over a period of time, helping them to manage their finances better.

Improves Credit Profile: With EMI payments, there are less chances of a borrower defaulting with the payments helping individuals improve their credit history gradually over the period of time.

Attractive Rates of Interest: EMI payments carry a certain rate of interest. However, the same is usually low for purchases which have been converted to EMIs. Some bank may also not levy any interest whatsoever on your purchase EMI.

Flexibility in Repayment Tenure: Customers are given the freedom to choose the tenure of repayment on their purchases. The usual tenure allowed for repayment may range from 3 months, 6 months, 9 months and 12 months.

Credit cards provide instant access to credit by financing your transactions. Credit card spends in India crossed the Rs 1-lakh-crore mark in October, hitting a new high. According to the Reserve Bank of India data, the value of credit card transactions rose 26% month-on-month to hit Rs 1,00,943 crore in October due to the festive season spending. However, it is important to note that though card issuers do not charge any interest on transactions repaid by the due date, a high interest and late fee is applicable to those repaid after the due date. Hence, you should always pay credit card bills on time. However, if by any chance you are unable to repay, you may consider EMIs for transactions involving longer repayment periods.