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Credit Cards / Loan Products in India => India Credit Cards / Personal & Business Loans => Topic started by: cardbhai on November 07, 2011, 08:43:16 AM

Title: Should RBI Introduce Restriction on Number of Cards ?
Post by: cardbhai on November 07, 2011, 08:43:16 AM

The Government of Indonesia has issued several restrictions on the issue and use of Credit Cards.

1. minimum income limit to qualify for a credit card
2. only two cards if income > indonesian Rp10mn/month,
3. limit should by up to 3x the monthly income,
4. minimum age of 21 years or married,
5. maximum rate charged 3% from 3.75%.

What Suggestions do you have in the context of India ?

Title: Re: Should RBI Introduce Restriction on Number of Cards ?
Post by: iamjoe on December 01, 2011, 04:21:57 PM

Indonesia government going to tighten the rules because of death of a person who is a card holder of a major bank after the questioning by the debt collectors from the bank . 

Credit card policy must be tighten to make sure no such events occur in country and on behalf of the banks , no one should be able to misuse credit cards . In the light of these causes , rules must be tighten .