Please Note: We are not trying to mislead you here with this FAQ Question.
Do you know that when you make payments with Credit Card, there are multiple benefits because of which you actually use Credit Card On Top of Debit Card to make the payments?
What are those Benefits?
| Upto 2% Cash back | | Many Credit Cards offer upto 2% Reward Points or Cash back| | Flat 1% is something applicable at least on every card. |
| 45-50 Day Interest Free Credit| | Every Card has a APR. And if you calculate the APR & the Interest which actually will be required to pay for the funds from any lender, the cost of the same in India, goes from 18% to 28%, anywhere, in short term loans | | So you will save anywhere from 1% to 2% on the same if calculated wisely. |
| .75% - .8% Tax Deduction| | Paying for Business usages?; you can claim the overall fees as business expenses & you will get corporate tax discount.| | We will advise you to consult your Chartered Accountant for more clarity. |
Overall, this makes Paydeck Fees ZERO for Most of the customers, Almost Zero For Some of the customers, And Some customers, will actually make money on top of it.
Use Credit Cards Wisely and always read the Terms of Condition of the Card Issuing Bank. And for clarity about above information, please make sure to confirm with your chartered accountant, if there is any confusion.
Disclaimer: Paydeck does not guarantee all the benefits if there is some rule changes in Banks as per RBI or Bank product. Paydeck is not trying to mislead you here with incorrect or misleading information. This information is the collection of information provided by the users of Paydeck who are using Paydeck from 2015.