Why India's RuPay Credit Card is better than foreign Visa and MasterCard
The use of credit cards has increased significantly in the last few years. Even though we may find it easy to use, the more you spend through credit cards, the more you can get trapped in debt.
In such a situation, you must minimize the use of your credit card, but money has to be spent. What to do in such a situation? In such a situation, you can use RuPay Credit Card smartly and it will also be beneficial for you.
This is also a credit card, so what is the difference? In today's news, we will tell you whether you will get benefits from this. We will also explain the difference between RuPay credit cards and other credit cards.
RuPay Credit Card by NPCI
RuPay Credit Card has been introduced by the National Payments Corporation of India i.e. NPCI. That means it is made in India. Banks issue RuPay debit and credit cards in partnership with NPCI.
Benefits of RuPay Credit Card
Transaction charges on RuPay Credit Card are lower than Visa and MasterCard.
Why RuPay Credit Card Transaction Charges Lower Than Other Cards
Banks set transaction fees for foreign credit card companies in dollars. Being a RuPay indigenous card, the fee on it is charged in rupees.
NPCI has also made this card quite secure. Their goal is to protect customers from fraud and scams. Not only this but making payments and transactions with the help of a Rupay card is very fast and smooth. The reason for this is also that its servers are present in India.
The annual maintenance charge on a RuPay card is also very low. Besides this, its joining fee is less than ₹500. Rupay credit cards can be easily used in restaurants, hotels, or anywhere.
We have talked about its good points. Obviously, everything has some disadvantages too.
Disadvantages of RuPay Credit Card
There are some limitations with the RuPay credit card.
What are the limitations?
Its use abroad can be reduced because at present RuPay card has limited acceptance on UM abroad. That means there is not much recognition there. The Reserve Bank is considering launching a RuPay Premium Forex Card. They aim to increase the card's acceptance outside India. Its services may be available soon.
Additionally, RuPay cards have lower credit limits than Visa or MasterCard. In such a situation, if you make any big purchase then it can put you in trouble. However, the RuPay credit limit may vary from bank to bank.
Conclusion
In such a situation, some hard work may have to be done to find the best option. So these are some of its advantages and disadvantages. But the most important thing is that it is a Made in India credit card.
This is why RuPay Credit Card in India is better than foreign Visa and MasterCard. Hope this information will be useful to you.
