Hello and Namaste Everyone,
Time flies and why I say this as a reason. I got my first-ever credit card in 2021 and now it's due for renewal. I got this card from HDFC Bank, one of the biggest banks in India in the private sector. This card was issued to me in 2021 and I applied for the card after a lot of consideration because, at that time I was not using much online payment. It is true that after the pandemic things have changed and online payments have increased. It also increased for me because now I hardly carry cash for buying things and I pay using my mobile or card whatever is available.
HDFC Bank renews credit cards after three years and it seems like yesterday when I got the card but it is three years and now the card is due for renewal. I have received the email from the bank confirming my renewal and if in case there is any change in my address. I think this is a great practice by the bank to ensure that they always have updated records and they also deliver the card to the right address of the customer. There is no change in my address so I'm not going to do anything but I appreciate that they are following the right approach to inform the customer in advance that renewal is happening for the credit card and this should be delivered soon. I am sure that once they dispatch the new card they will be sharing the information for that as well through the notification or some emails.
Now I have got two cards from the HDFC bank that include one Rupay credit card. This card can be used for making UPI payments. It's a digital card that is linked to my primary card and I have not received any physical card for this one. So my primary card is the one that is due for renewal because the second card is a digital card that does not require renewal card the next 5 to 6 years. I have not checked the due date for that card but I'm pretty sure that it is surely more than five years which is a longer period than the primary card.
Recently I got another card from Yes Bank which is also a private bank in India. I got this card through the UNI application and this is one of the Fintech that provides some additional benefits to the users, unlike the bank. I have not used that card yet but I'll be using it soon because I need to set up my application accordingly UPI is already set up so it's easy for me as of now.
I would say that having a credit card is good provided we are using it properly. Credit card is not free money so we need to be careful and we should not be using this fund for expenses that are not required. But if we use the credit card for the right expenses then it can be good to help because we don't need to spend the money from the bank account and the same amount can be repaired by the due date without any extra charges. On top of this bank also issues some reward points and sometimes the value can be good or we can redeem them against the outstanding.
Thank you so much
Stay Safe