Recently, Citibank launched PremierMiles credit card that helps them accumulate reward points, in the form of ‘PremierMiles’.

An online news portal about business and economy – economictimes.indiatimes.com, writes about PremierMiles credit card of Citibank, “Under the programme, card members earn 10 premier miles for every 100 spent on airline ticket bookings made at airline-owned websites, airline booking counters or through the PremierMiles portal. For each non-airline spend worth 100, the card holder can earn 2.5 miles.

Upon activation, the card account is credited with 5,000 premier miles. If you incur expenses of 4 lakh using this card in a year, you will be entitled to a bonus of 2,500 premier miles. The points so earned cannot be clubbed with the frequent flyer points you may have earned.

The card membership also entitles the holder access to VIP lounges at airports across the world and offers on accommodation at hotels in the network. The card comes with a built-in overseas medical insurance and fraud protection plan.

Those wishing to obtain the card will have to shell out an annual fee of 5,000, which could be seen by some, particularly those looking for a diverse rewards programme, as trifle expensive for a primarily airline focused card. To redeem the points collected, card holders will have to visit the bank’s designated portal. They can also make their flight ticket bookings through the site.”

So, PremierMiles credit card of Citibank helps in booking air ticket specially. Card holder earns miles also from the card.

Further the news portal writes about the benefits of PremierMiles credit card, “The rewards programme is not restricted to any particular airline. Miles accumulated can be redeemed for tickets of several international and domestic airlines, including low-cost carriers.”

PremierMiles credit card of Citibank is considered as the best card after Multi-utility Cards of Corporation Bank.

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Recently, ICICI Bank announced to launch a new credit card along with Kingfisher Airlines. It is a new credit card that will allow its holders a host of lifestyle benefits.

It is an ICICI Bank Kingfisher Airlines MasterCard Credit Card. The card enables the holder to earn accelerated miles for all cards spend. You can get bonus miles on joining and renewal.

Subscribers of ICICI Bank Kingfisher Airlines MasterCard Credit Card can get complimentary upgrade vouchers, membership of King Club, Kingfisher Airlines’ frequent flyer programme, and a range of special offers on shopping. They will be able to enjoy with golfing and dining also.

A Raghunathan who is the Kingfisher Airlines’ Chief Financial Officer said in a statement, “This card is set to be a game-changer with an unmatched value proposition and a host of benefits.”

An online news portal – economictimes.indiatimes.com about business and economy, writes about ICICI Bank Kingfisher Airlines MasterCard Credit Card, “ICICI Bank Kingfisher Airlines MasterCard Credit Card enables the holder to earn accelerated miles for all card spends, bonus miles on joining and renewal, complimentary upgrade vouchers, membership of King Club, Kingfisher Airlines’ frequent flyer programme, and a range of special offers on shopping, golfing and dining.” It was also quoted by an official press release.

Further the press release adds, “The miles earned can be redeemed for free flight tickets and upgrade vouchers with the leading private airlines.”

So, it will offer a redeemed point also for free flight tickets and upgrade vouchers with the leading private airlines.

ICICI Bank Kingfisher Airlines MasterCard Credit Card will be available in three variants – World, Platinum and Titanium.

So, it is a joint credit card of ICICI Bank and Kingfisher Airlines with some good benefits for the customers. There are many new features in these cards for the different needs of customers. It is a very good co-branded credit card after Co-Branded Credit Cards by Aditya Birla Group and SBI Card.

Recently, American Express introduced – Pay with Points rewards program through its membership. It is a feature that makes booking flights easier and faster than before for its Platinum cardmembers and the Platinum Reserve credit cardmembers.

About the “Pay with Points”, economictimes.indiatimes.com, an online news portal writes, “American Express, through its Membership Rewards program, has introduced ‘Pay with Points’, a feature that makes booking flights easier and faster than before for its Platinum cardmembers and the Platinum Reserve credit cardmembers. Pay with Points feature allows cardmembers to instantly redeem membership rewards points for all or part of the cost of any leading airline ticket without blackout dates or restriction when booking travel through American Express Membership Travel Services.”

The “Pay with Points” allows card members to redeem membership rewards points for all or part of the cost of any leading airline ticket without blackout dates or restriction when booking travel through American Express Membership Travel Services.

Simran Kalra who is the vice president, product management & development, American Express, said to the ET, “In the past, American Express cardmembers were able to convert rewards points to frequent flyer miles with Membership Rewards partner airlines. Now in addition, with this ‘Pay with Points’ feature, our cardmembers have an option to use their membership reward points to fly on any leading airlines free of blackout dates or restrictions or memberships to Frequent Flyer programmes.”

With this “Pay with Points”, American Express Card Members will fly on any leading airlines free of blackout dates or restrictions.

Further the news portal writes, “Cardmembers can call American Express Membership Travel Services to book tickets availing of a choice of airlines to fly including leading domestic and over 50 international airlines. Cardmembers can pay for tickets by combining points with part payment on their American Express Platinum Cards as well as pay fully with the points earned.”

The feature allows you to fly including leading domestic and over 50 international airlines. It is the biggest news just like World Travel Card of PNB.

Recently, LIC announced to launch credit card protection service. According to the service, LIC credit card hold were able to report loss any of their cards from anywhere in the world to a 24-hour helpline.

About the company said in a statement to ET, “LIC Cards Services Ltd has launched Card Protection Plan for its credit card customers in partnership with CPP Assistance Services… and it safeguards all of the LIC cardholder’s payment cards – credit, debit and ATM cards.”

Further they add, “Besides, customers will be able to retrieve important details on lost/stolen documents like passport, PAN and driving license. Customers would need to purchase a membership plan offered by LIC and register their cards.”

For the service, customers have to pay an annual fee of Rs 995 and Rs 1,295. About the service charges ET quotes a statement, “The difference between the two is in the Assistance services limits and fraud protection limits provided to the consumer”.

In another article, Economic Times writes about the tips of protection of credit cards fraud, “Never write your personal identification number (PIN) on your card. Instead memorise it or keep the number separately from your card.”

“…Do not provide photocopies of both the sides of your card to anyone. This is because the card verification value (CVV), which is required for online transactions, is printed on the reverse of the card. Anyone can use the card for online purchases if the information is available with one.”

“…Before shopping online, make certain the internet shopping sites are secure. For this you should check out the encryption software it uses.”

“…Don’t give out your credit card number online unless you know and trust the company in question.”

“…Do not give any information to persons seeking credit card information over phone unless you have yourself initiated the talk. They may even claim to be a bank’s representative, but you actually don’t know who they really are.”

So, if you are going to use your credit cards, follow above mentioned suggestions to protect from fraud. We already have discussed about how to enhance online security.

Recently, crisis of credit cards came in light when ABN Amro India has chopped the credit limit of some credit card customers to a tenth. It raised the minimum amount payable to 7% of total dues from 5%.

An ABN Amro spokeswoman called the move a standard industry practice to ET, “As a responsible lender, we review card limits and take appropriate action on an ongoing basis to protect our customers and manage risk.” She had replied by an email. According to her, “The bank’s strategy could be to discourage users and get them to give up their cards or reduce their credit exposure.”

In an analysis, economictimes.indiatimes.com, an online news portal of economy and business, writes, “ABN Amro, owned by UK’s troubled Royal Bank of Scotland, or RBS, has also decided to freeze fresh retail lending, including credit card and personal loans, to arrest a pile-up of bad loans.”

On the other hand, Deutsche Bank is set to launch WorldMiles credit card against airline tickets. The card comes in two variants – Platinum and Signature.

About the card, ET writes, “While the joining fee for the Platinum variant is Rs 5,000, one will have to shell out Rs 7,500 for the Signature card. In addition, the annual maintenance fees amount to Rs 1,500 and Rs 2,500, respectively.

The card and the programme are operational on a pilot basis, and the bank is planning a full-fledged launch shortly.”

WorldMiles card allows the users to redeem points or flight miles accumulated by booking flight tickets using the card.

On the one hand, we are seeing the credit crisis that results cuts limit on cards. On the other hand, we find some advantage of WorldMiles by Deutsche Bank.

Overall, in the industry of credit cards, some banks are in the crisis while some banks are searching new market to run their business. Recently launched Corporation Bank’s Multi-utility Card was also very effective.

Recently, Corporation Bank announced to launch multi-utility cash card. The card can be used as a debit, credit and pre-paid card. The news came in light recently by a top official of Corporation Bank.

According to the statement, “Corporation Bank would be the first Indian bank to come out with a one-stop technical solution through a combo card — a fusion of credit, debit and pre-paid cards.” The statement was published in Economic Times online news paper.

Further ET includes one more statement that was said by B R Bhat Corporation Bank’s General Manager, “We are planning to launch the combo card this year. However, we are still fine-tuning our plans. There is this proposal and we will launch a pilot programme first … may be in Mumbai in the next six months. Though the combo card concept is widely accepted in developed countries, India is yet to witness its benefits by which a person can use a single card as a debit, credit, and pre-paid card. The bank has the infrastructure but the problem is there is no infrastructure at the user-end and we have to create that first. We can make the facility available at our ATMs but then there were the ATMs of other banks and Point of Sales. So, this may take some time.”

As per the statement, benefits of the combo card are possible in developed country. However, concept of multi-utility cards by Corporation Bank for Indian users would be possible in coming future.

Corporation Bank talks about problem of infrastructures also for uses of multi-utility cards. I think that if the card launches recently in India then it would be available on Corporation Bank’s ATMs only because of infrastructure problem.

Multi-utility cards of Corporation Bank will be surly a new technology for Indian users. The combo card is very unique just like mShop card.

There is good news for world travelers. Public sector bank, Punjab National is to launch World Travel Card. The bank has already introduced Global Credit Card earlier this year in February. Now, the company has planned to introduce World Travel Card for globetrotters.

Chief General Manager of PNB from credit card venture division, Ranjan Dhawan said to ET,

“It would be the safest and the convenient currency instrument to carry. Instead of carrying traveller’s cheque or global currency like Dollar or Pound, the World Travel Card holders would be able to withdraw local currency convertibles from any bank ATM of respective countries they visit. The holder has to pre load the card with the amount he would like to carry.”

The World Travel Card of Punjab National Bank will be introduced by November this year. This card would be pre-loaded with that amount which you want to carry along with on your tours of world.

You will be able to withdraw relevant currency of that country where you are traveling. This can be Dollar, Pound, Euro or Yen. It is just like a credit card that will be for tourists. The card will make your way easiest. Now, you needn’t to worry about currency converter. You are free to carry that currency which you want to carry. That will be relevant to your traveling country.

Yes, the World Travel Card is very good thing for world travelers but surly, it is not a new product. Recently, Reliance Group had also introduced the same card that was known as Reliance Money Travel Currency Card. The card was also for travelers. It was also equipped with multi currency.

So, there is no new offer by PNB as World Travel Card but surly, it is incorporated offer to make easier world traveling. The World Travel Card will be available for travelers only.