Why does the issuing bank not matter in THESE credit cards?
Credit Cards: When you apply for a credit card, you might look for a number of factors including the features, reward points and importantly — the issuing bank. Have you ever thought that there could be a scenario wherein the issuing bank does not matter at all?
Yes, sounds strange but true! We are talking about the RuPay credit cards. These cards fall under one broad umbrella of RuPay (by NPCI) which allows the cardholders to link their cards to UPI. After a credit card is linked to the UPI, one can transfer money through UPI but instead of money getting debited in real time, it is reflected in the credit card statement. Then at the end of the monthly billing cycle, you can clear your credit card bill as you enter the next cycle.
For instance, there are RuPay cards issued by Axis Bank, BOB Card, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, PNB, SBICard, Yes Bank and others.
Steps to follow to link RuPay credit card on UPI
1. At the outset, you need to open the BHIM UPI app before entering the passcode.
2. Then you can click the bank account in which you have an account.
3. Following this, you need to select the credit card option followed by the credit card issuer bank.
4. At this stage, you need to select your credit card.
5. In the next step, you are supposed to click to view accounts and select from available options.
6. Finally, you can select UPI PIN.
Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
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