Brandoh.com

Posts Tagged ‘bank’

When performing a credit card review, the realization dawns that the competition between credit card companies and issuers has rarely been fiercer. Deals favoring the consumer abound and there is a willingness to negotiate better rates in order to lure competitor’s cardholders away. If you do a review on some of the top issuers, it is clear that they are generally very eager to expand their market share and focused on retaining their existing clients by continually enhancing the products and services they deliver.

But just how far are they willing to go? This particular review on the platinum credit card deals offered by Discover, American Express and Chase, tells the story.

Credit Card Review on Discover ® More
Discover does not offer the widest variety of credit cards, but was selected by Keynote Systems as the #1 ranked site in terms of customer experience for account prospects. The Discover More review found their platinum package competitive in terms of the initial interest rate charged:
” 0% introductory APR for 12 months;
” 0% on balance transfers;
” 10.99% upwards on purchases;
” 20.99% on cash advances;
” 28.99% on default.

As a part of the overall review, we also looked at the rewards offered with the Discover ® More credit cards:
” The credit card cash back rewards amount to 5% on items like travel, apparel, home, gas, restaurants, movies and so forth;
” There are 5% to 20% cash back rewards at specific online merchants and an additional 1% on all other purchases made.

This review found the fact that there is no expiry date on the rewards, that the rewards are generous and that there is no ceiling imposed on the value of the rewards, very appealing features.

Credit Card Review on American Express Optima ® Platinum Card ®
American Express has been in existence since 1850, making it the second oldest company covered by this review. It operates in 130 countries worldwide. Their platinum deal offers the following:
” 0% introductory APR for 6 months;
” 8.9% on balance transfers, then 6% for purchases thereafter;
” 6 % upwards on purchases;
” 23.24 % on cash advances;
” 21.24 to 31.24% on default.

As a part of the review, we also looked at the rewards offered with the American Express Optima ® Platinum Card ®credit card:
” Allows you to accumulate points – 1 point to the dollar – for all purchases charged to the card;
” Points earned can be redeemed as entertainment, retail, and travel rewards.

This review found the interest rates very attractive and the rewards scheme offered quite flexible. The rewards scheme leaves the redemption of the points to the card holder’s discretion. As with all American Express credit offerings, only applicants with good a credit report will be likely to qualify.

Banking has evolved with time. The entire infrastructure and concept of traditional piled files and documents has given away to a much more sophisticated and sleek outlook. Moreover with technology growing with a rapid pace the time consuming factor has been replaced with doorstep banking methods which permits you to carry on with your banking 24/7 without having to pay the bank any visit. Money orders and transfers have taken a backseat for Online Money transfers, Card and mobile banking.

When Banking started of for Independent India, you had Nationalized and regional banks handling the country’s finances. As the years progressed you had more branches opening up. The 80s and 90s saw a whole lot of Global Banks like Standard Chartered, Barclays, Grindlays opening their banks up in India. Still banking didn’t seem to be convenient. The modus of transaction was pretty gloomy and boring with people having to wait their turns to visit the teller’s counter to complete their transactions. With technology coupled with the internet coming into play banking solutions have become more custom made for the average consumer. Online Banking ensures that a person is tuned completely with his finances at any given point from any part of the world. Ditto for mobile banking. The last couple of decades also saw numerous Indians migrate abroad on a bid to pursue their lives and carrier. Getting monetary transactions wasn’t easy then. Postal services and courier faux passes weren’t that convincing. Now with banks offering many solutions NRI Banking has also been made easier.

Various facilities for NRI Banking consist of NRI Savings account, NRI Term Deposits and provision to remit money to India. Mobile Banking and Online Banking also offer Mobile bill payment and online bill payments respectively. Typical business banking ensures commercial as well as retail banking services. In Commercial Banking, various corporate entities and major industrial houses are liable to be offered loans to proceed with their business and financial commitments. This kind of banking is generally profitable as it includes a large amount of money. Incase of retail banking services which is basically mass marketing business transactions, direct transaction with individuals which includes loans, various accounts and deposits, and locker facilities banks look to improve their consumer base. Establishing good customer relationship strengthens your financial base as with every major deal that you incorporate via your customers adds to your treasury. As of now the Retail section is undergoing a strain courtesy the recession. The failure to repay debts has seen the fall of global financial houses. So it is very important that a thorough examination is done to ensure know your customer (KYC) norms prior to issuing major loans.

Banks also provide special facilities to their HNI (High net individual) worth customers. These people generally have a huge amount invested with the financial house and indulge in hefty transactions. They are provided with world class banking facilities termed as Priority Banking and Premier Banking, both words justifying their meaning. Savings account for the average investor has also been made easier where you no longer need a referral to open an account or minimum balance to save in your account (* condition applies in both cases). Currently the major Global players in the Indian Finance Sector include Standard and Chartered, HSBC and Barclays. Banks of Indian origin that have gradually made waves include ICICI, HDFC, SBI and Axis Bank. All in all modern day banking has every element that ensures Wealth Management Services for the longer run.