Credit card to send payments to Paypal user

Discussion in 'PayPal' started by bloodmage478, Sep 15, 2011.

  1. #1
    Hi ,
    I have applied for CC this time from Axis bank .I want to send payments to other PayPal users (non indian) . Axis bank staff got me confused with their terms . If i Fixed deposit 25K for CC,my credit limit will be 80% of it . They also say my transaction limit will be the same as credit limit. Is it true ? Anyone with Indian credit card help me .
     
    bloodmage478, Sep 15, 2011 IP
  2. COBSolutions

    COBSolutions Well-Known Member

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    #2
    Yes, axis bank offers this, you got to make a Fixed Deposit and they places a lien on that so that you cannot withdraw the FD after getting the card. You will get a CC limit of 80% of the FD, it is a nice offer IMO, at least helps in keeping a tab on your spend and whenever you want to return the card, just return it and they will deduct the balance outstanding from your FD and return the money, of course, FD earns interest normally.
     
    COBSolutions, Sep 15, 2011 IP
  3. dilon

    dilon Well-Known Member

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    #3
    Yes, they are right..Generally cc card is given on three ways..First on F.D., Salary account (more than 20000rRs), and home loans....Yes, your transaction limit is same as your credit limit..
     
    dilon, Sep 15, 2011 IP
  4. bloodmage478

    bloodmage478 Member

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    #4
    Thanks ppl .
     
    bloodmage478, Sep 15, 2011 IP
  5. omaradsense

    omaradsense Active Member

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    #5
    ask your bank about prepaid type card ... this will be best
     
    omaradsense, Sep 16, 2011 IP
  6. alexgreatcpa

    alexgreatcpa Well-Known Member Affiliate Manager

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    #6
    HDFC and ICICI doing same thing.
     
    alexgreatcpa, Sep 16, 2011 IP