ICICI-BoR merger gets RBI nod

Aug 14, 2010 Posted Under: Credit Cards

Banking regulator, Reserve Bank of India has finally given approval to the ICICI- Bank of Rajasthan merger. Now all 463 branches of BoR will come under the branch network of the largest private sector bank of the country, ICICI Bank.

“All branches of Bank of Rajasthan will function as branches of ICICI Bank with effect from August 13, 2010,” the RBI said.

ICICI Bank was waiting for this approval. The merger has already received approval of shareholders.

With this acquisition, the branch network of ICICI Bank will see a 25% rise, taking the count to about 2500 pan India. Also, the bank will gain better access and visibility in the northern and western parts of the country.

“I am happy [with the RBI decision].

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Different Types of Credit Insurance for Credit Cards

Aug 14, 2010 Posted Under: Credit Cards

Credit card insurance can cost anywhere from $20 to $40 per month, and is used to insure a variety of purchase types and card balances. Most experts agree that credit insurance is absolutely necessary for some individuals and completely useless for others, so it is important to be certain there are no hidden credit insurance fees being charged unnecessarily each month.

Who Needs Credit Card Insurance

The main purpose of credit card insurance is to cover the necessary repayments in the event of injury, unemployment, or other circumstances that may prevent cardholders from paying their credit card bills.

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Credit Report vs Credit Score

Aug 11, 2010 Posted Under: Credit Cards

All this credit stuff can get pretty complicated.

But two things you should have a handle on are credit reports and credit scores.

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Back to School

Aug 10, 2010 Posted Under: Credit Cards

It’s that time of year again! Back to school shopping is coming on strong as retailers see grabs for clothing, shoes, school supplies and cosmetic. Among consumers with children in preschool through high school, 39% expect to spend more per child on back to school shopping while 41% expect to spend the same this year. With this, the average family of four will spend $550; 39% plan to spend more on back to school shopping this year than in 2009; 63% will have a set budget and virtually all parents; and 94% will look for ways to be resourceful. These findings, according to the latest American Express Spending & Saving Tracker, also show 34% intend to buy electronics, the most common being laptops(18%) with an average ticket price of $530.

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Types of Secured Credit Card

Aug 9, 2010 Posted Under: Credit Cards

Many people that have had bad experiences with conventional credit cards give up all hope of using any kind of credit card in the future. However, there are many types of credit cards available today, all of which have different approval methods and different terms and conditions.

Being approved for a credit card with bad credit is not impossible, but it is slightly more difficult and the options are more scarce. Sometimes, when an individual’s credit score is low enough the only option is to apply for a secured credit card. Secured credit cards are safer for the card issuer because the funds are secured by some form of collateral. W

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