Online credit cards dealing are not easy now. From the security point of view, RBI has made more deep security for online credit cards dealing. The new rule is effective from 1st of August, 2009. According to the rule, you need to register and verify your credit cards to enhance one more step online security.

We have already faced credit cards fraud reports in the near time. Banks were suffered from fraud very much. There was no rule to reduce the deception but now it is available by RBI. Reserve Bank of India already announced that to use credit cards online there is needed one more step security.

During the purchasing and booking any services, we had to already fill – credit cards number, expiry date and three digits CVV security code number but now you have to know your secret 6 digits credit cards pin number also. Some banks had already made the mandatory of online login to buy or book any services. ICICI had made mandatory rule of debit cards numbers which are printed on cards, during the online transactions.

Banks had intimate to their customers when he made any transactions that exceed Rs 5,000 by SMS. It was also the rule of RBI. But all these were not effective for hackers.

So, we are talking about the new rule of RBI which is effective from 1st August, 2009. According to this announcement you need a credit card pin number also while any online transactions whether it is a service or purchasing.

The rule is same for Master cards and Visa cards both. If you are a holder of Master card then you should follow the link: http://www.mastercard.com/us/personal/en/cardholderservices/securecode/sign_up.html and have to choose your credit cards related bank. You have to register your name, credit card number, CVV number and a desired pin number which will able to make any online transaction. Visa cards holder have to follow this link: http://www.visa-asia.com/ap/sea/cardholders/security/activate.jsp and have to do same thing as Master card.

Once you complete the registration for the verification of online credit cards, you will be able to use your credit cards for any online purposes. It is mandatory and it will surly enhance the security against the fraud. I welcome the rule because it is simple and very effective against any fraud.

Recently, the news effectively came in light that all credit cards companies are trying to reduce rewards points.

Credit Cards issuers are much frustrated due to huge losses and more expensive while, they are getting less attractive redemption points as rewards. They are attracting to the card holders that if they use cards more often to earn the redeem points, they can get cash back or to fly somewhere.

An analyst at FBR Capital Markets, Scott Valentin said,

“To the extent that interchange is cut, you will see a pretty lineal impact on rewards. You could see rewards being 10 or 15 percent more expensive for consumers. If you have a 25,000 reward points for an airline ticket, it might go to 35,000 or 40,000”

To cut rewards or on raise fees, Michael Kon who is the analyst of Morningstar Inc said to ET,

“You either cut rewards or raise fees, because you have to have a credit card industry that is viable and generates a reasonable return.”

According to the analysts, the credit card industry is not making money until 2011. However, companies are trying to great reform in this industry.

Above analysis clearly state that banks are busy in reducing credit cards redemption points. We always see to promote banks their cards along with some great offers. Customers also are going to make their payment frequently to get some redeem points. In these conditions banks should decide to cut the charges from their clients not from their customers.

Here all things are opposite; banks are busy in reducing redemption point which is benefits of customer. They are not targeting corporate or sales offices where the credit cards being used to purchase goods very frequently.

Things are clear here, it is the collaboration of banks and corporate world. Here is nothing for a customer who uses credit cards.

Reliance Money announced to launch a multi-currency card that would offer facility of purchasing goods and services. It would be Visa enabled point-of-sale terminals and ATMs also globally.

It is Reliance Money Travel Currency Card. It has been launched in collaboration with Citibank. Reliance Money Travel Currency Card will target overseas travelers.

In a statement Reliance Money said to Economic Times, “Issued by Citibank, the card offers all the conveniences of plastic money by allowing customers to purchase goods and services by swiping the card over 13.5 million Visa enabled point-of-sale terminals worldwide and 900,000 Visa ATMs across the world.”

According to Reliance Money the Travel Currency Card would be for multi use – prepaid ATM access & point-of-sale-enabled card, loadable in US dollar, Euro and British pound.

CEO of Reliance money said to ET about it, “We plan to use our wide distribution network of over 10,000 outlets across 5,000 cities and towns in India to reach out to both retail and corporate clients.”

On this occasion Sandeep Bhalla who is the Business Manager (Cards) of Citibank India said, “This form of payment method provides ease of use, removes hassles of cashing traveler cheques and gives access to funds, anytime and anywhere.”

Already a month before Standard Chartered bank had launched a new credit card which will be known as SmartTravel FX. The card was also a gold pre-paid travel card with payment option of making payment in US dollar, Euro and Sterling Pound.

In credit cards industry Travel Currency Card is same like as SmartTravel FX. These credit cards will attract customers by their benefits and features. Reliance Money has entered with this card as a big competitor of Standard Chartered bank.

I have already told you my situation and experience about ICICI credit cards job in my previous post. Now, I want to let you know in details about my training for ICICI credit cards job.

Our 1st day was introductory class with 50 guys. At 1st our trainer asked about us in short then he proceeds to the training. In the beginning of training he asked about ICICI but no one replied. I was known about ICICI but wanted to listen him so, I remained silent. He surprised that no one knows about ICICI. But I was not surprised because I was aware that all are from small villages of India and everyone has requirement of an urgent job so, they can do anything for job.

He started, “ICICI is one of the largest banks of India in private sector. ICICI mean as Industrial Credit and Investment Corporation of India. It has large network in all over India of its branches and ATMs. 1st time in 1994 ICICI established Banking Corporation and later it was renamed as ICICI Bank Limited. By the formal establishment it started its services taking deposits, credit cards, car loans etc. In 2001 it acquired Bank of Madura and became India largest bank in private sector.” It was an introduction for us by our trainer to attach with ICICI bank’s credit card services. It was for trust towards ICICI bank.

Second day, there was only 30 guys in 50. He started, “Credit is the trust of a person by a service or system. By that credit a system gives credit cards to use that while you have no money.”

He told us to say customer, “ICICI credit cards are free for whole life. It has no annual charges, no interest rate, no hidden charges etc. If you get a credit card of ICICI then you will be an insured person by default. ICICI offers death insurance if you crash in airplane or in train. A condition is applied with this that your ticket should book with your credit card. Any customer, who uses their credit cards to purchase any product, will get credit of 50 days. Within 50 days if a customer pays their credit amount then he would be bound to pay any interest and other amount. If he doesn’t pay then in next time he would have to pay 2.3% interest rate on whole purchasing amount”

It was great offer by ICICI credit cards to attract any customer but it was only in theory because there are many banks with lots of offer with their credit cards also. So, it was competitive age of banking services.

Last day we were only 15 guys in our training. He started, “you have to collect some information and documents if a person agrees for credit cards. You have to collect one ID card, 1 address proof, 2 photos and one valid phone number.”

All these things were in our training to convince a customer but reality was far away from theory. We had no way to convince customer. We had theory but we had no practice to convince a customer to make ICICI credit cards.

When I came in Delhi I started to search a suitable job for me but I was unable to find out myself. That time one of the friends recommended me to do marketing job. I was absolutely unaware from the marketing job. But I decided to do. He talked to his another friend who was the manager in a DST of ICICI credit cards branch.

The DST was far away from my home. That time I had no any business so pocket was also empty. My friends had same problem. That time in that DST I joined with my 3 friends. All are from small towns and village.

We had not enough money that time to travel by bus on our work station. However, our manager has satisfied us to promise of 4500 Rs. salary per month. We had target to get about 30 credit cards interested customer in a month. If we succeed then we get salary otherwise after 3 months we will be fired. However, in a month we had to submit about 15 credit cards interested person in a month at any cost otherwise we had to loose our salary also.

We got 3 days training in that institution about the credit cards and credit cards making process. In these training periods we felt that it is very hard to convince customer about the making of credit cards. After having completed 3 days training we got a job by our manager and team leader with the lecture of making money. He said, “If you work here consciously, smartly and very hard then you can get money as much as you want in a month. See, I am the manager here and in just 2 years in this field I get more than 60 thousands in a month. My consistency has made me a rich person. You have a great chance to boost your career in marketing field. So, start your work from the day and get convinced customer to make a credit card.”

We were inspired with that lecture but that inspiration was only for some days. Next day we had to go in a market near a bank or ATM machine and had to convince customer to make credit cards of ICICI.

I went 1st day and that was my last day because no one ready to listen our talk. Some guys like our already there to convince customer.

We were very distressed and after that day we never turned around the ICICI DST to submit the firm of credit cards.

During the training period we learned about credit cards. Credit is the trust of yours character which a bank recognized and give you some money on that credit to expend for your requirements. ICICI credit cards give you major facilities. If you purchase something from credit card then you will get the credit of 50 days credit to pay your money.

Before make a credit cards a bank decide about negatives and positives areas. All the colonies, villages and unauthorized areas are in the negative categories of banks. Call center employees, software company employees and this type of irregular employees are also in the negative categories.

After this banks need some documents also to get a person credit card. If you are employed then need a salary slip. A work number and home contact number are needed. An address proof and an identity proof are also needed.

After the getting trained I thought the job is as hard as to get a people credit cards in India. These are the banks which decide who are capable to pay credit cards bill after that they make credit cards. ICICI credit cards making job was not my 1st job however I learned many thing about the banks and credit cards.

People should not let their money stored in the banks which do not even pay good interest to their money. They need to look for those banks which offer attractive savings and current account interest rate. Such banks always provide many benefits which are profitable for people.

Banks are the most important financial institutions which keep money in safe. If there were no banks, then what would have happened to people’s money? The answer to this question would be an assumption but surely would point out a disadvantage for the further growth of money. This is because banks not only take care of money but they also pay good interest for the money deposited.

Suddenly, people have started taking great interest in banks deposits. The reason why these people have suddenly started taking great interest in banks deposits is because most of the banks have renewed their savings and current account interest rates. People are getting huge interest on their deposits.

Different banks offer different interest rates on money deposit with them. The kinds of interest rates offered on high interest saving accounts and current accounts differ from banks to banks. So, people should always deposit their money with a bank which is well-known for offering lump sum benefits.

It is known to all people that savings account gives them more interest than that of current accounts. Both of them give different benefits to different people depending upon their uses. Savings account is basically meant for those people who would like to get more interest on their saved money. On the other hand, current accounts are specifically meant for people who are into businesses and often need the deposited money for investment purpose or for their urgent business requirements. One thing has to be noted that the current account interest rate is lower than that of savings account.

Whoever is interested in making more money for them can use the savings bank accounts. For businessmen, current accounts should be given preference. If people deposit money for a long term period, then they would definitely get more added money to the amount deposited initially. In this case, high interest savings accounts are the most suitable accounts. Depositing money in a savings account for year or two would definitely earn more money.

There are many banks which offer attractive current account interest rate although businessmen withdraw money frequently. How is it possible to get attractive interest rates if business doing people often withdraw money from their current accounts? Yes, it is surely possible to get attractive interest rates, if these people maintain the minimum balance stated by the respective banks.

How do people come to know about various interest rates offered by various banks? It is quite easy to find out. This is the most advanced age in which people are living in. This is the age of internet technology or the age of World Wide Web. Prospective banking customers, interested to know kinds of interest rates given by various banks, can visit the websites of respective banks or financial institutions. These websites contain all kinds of information regarding savings as well as current interest rate.

Is it possible to withdraw money from current account from any ATMs at any time? Yes, people can withdraw money at any time from any ATMs from their current accounts. However, there are certain things which have to be kept in mind. If businessmen have signed an agreement with his bank to maintain a minimum balance, then he cannot withdraw this minimum balance without the consent of the bank. In case, people withdraw this minimum balance before the time-period is completed, then these people would be deprived of interests. Hence, current account interest rate suits all businessmen.