Important Update from Paypal for PayPal India Users : Change in User Agreement

I never used a Credit Card. how to get a Credit Card and Which bank's provide Hassle free Service on Credit Card. I have debit card and i'm happy with it but you know the present scenario is something different.

Kindly suggest something

 

Most of the banks provide credit cards against FD, {minimum Rs.20000}. You can visit Axisbank, ICICIbank or HDFC websites online, they all offer these credit cards. Its gaurateed approval and no income proof or so needed.

 

He saw that this is a burning thread and he posted ads here. dirty promoting strategy. .

 

Why everyone is recommending only 3 banks hdfc, icici and axis? There are more like PNB, bank of baroda etc etc.. I already have a CC of PNB won't that work?

 

I will have talk with some top RBI officers and find out actual reasons behind the step.

 

These three banks are standard bank and everyone tried with no issues.

 

SBI credit card also works fine, but they are slow. Using SBI credit card for more than 1 year.

Guys, I thing you should keep in mind since we can not send money/pay hosting bills / buy anything using PayPal means we will loose enough money for currency conversation.

I have noticed if pay through credit card then exchange rate is Rs2/- Rs3/- higher than we get from PayPal.

This means if I make a withdrawl of amount $200.00 from paypal account then I would get INR 8600.00 or INR 8800.00 now (I guess), and while I buy something of $200.00 & pay using credit card then I have to give INR 9000.00 or more. Really I am really very disappointed

 

It's nothing for you, may be. But for those who receive Couple Thousands Dollars as a Single Payment - It is a thing to worry. You cannot ask a client to make part payment for $4000 or so. It doesn't sound professional. And if you ask part payments, It Does Sound Weird.

The Banks you're being normal with are Govt. Banks and those banks require Tax Returns before they give out CC. And the other Banks like HDFC, ICICI, Axis are private banks, that do not require Returns Filed, but only FDs to issue a CC. That's why everyone's mentioning those banks... Just for the sake of this specific issue.

Well, I'd request you first do that and then reply here.

And even if you would get hold of that Top RBI Officer and just bring back the reasons - That isn't going to help anyone here.

Reason is not important to anyone here - The solution is. So anyways, your effort might help someone seek new solutions... keep trying.

 

RBI OR PAYPAL whatever they are going to stop our Online business ... There is no alternative of paypal so we need to wait and watch to see what they will do ..

RBI asked few details before - PAN , payment proof .. Now what they required - Our money ?

 

True there is no real alternative to paypal rite now, Most domain sites, webhosts, ebay and everyone prefer paypal.

Lets hope for good.

 

I dont think its paypal, its RBI being strict for ever transaction for Indians. Paypal has to update its policy as per the RBI rules

 

I don't have cc and i am planning to open a FD in axis bank of RS 20,000 but what about the credit limit i get if i opens a FD for 20000? Anyone have an idea here

 

Usually you will get 17K limit for 20K FD.

 

That's ok,so no other documents required for this right if i opened a FD

 

To open a FD,you require documents like PAN card as photo id proof,electricity,telephone bill or driving licence or passport as address proof.

 

Then how many days it will take to open a FD account? And How many days they take to deliver a credit card.? They approved it on the spot or they do any verification again?

 

FD will be activated immediately when you open it within bank.When you open FD,you will be immediately issued a CC and it will be activated within 2-3 days.

 

Do you have any idea which CC we get? mean to say gold,platinum.silver or they have separate cc for FD accounts?

 

Check this if you wanna go with Axis bank : http://www.axisbank.com/personal/cards/easycreditcard/easy-credit-card.asp

and CC type depends on the amount you make an FD for! For platinum it is min. Rs. 65000