Credit cards can now be linked to your favorite UPI system (BHIM/ Gpay/ PayTM etc.)
Ever since upi payment method was launched in India- I have tried to link my credit card with the upi payment system, why?
- Credit period of 30+ days to make payment
- Credit card points -earned on spends
- Discretion in sharing your banking details with unknown people /random vendors
- Using the credit limit, while making your money work for you.
After many years, this has now been implemented by banks, albeit with a catch.
Banks may now offer you to link your RUPAY credit card with the UPI system.
What is RUPAY?
- RUPAY is an Indian payment service system much like MasterCard/ VISA however it is owned by the National Payments Corporation of India (NPCI), which is controlled by the RBI (Reserve Bank of India).
- The RUPAY cards are usually lower benefit cards, hence I recommend do not convert your existing credit card to a RUPAY card, rather get a add on/ separate RUPAY credit card and link it to you UPI system.
Once linked- do ensure card controls are on Auto Debit so that you do not miss out on paying the credit card bill and thereby avoid the pitfalls of not paying the credit card bill.
Always spend within your means, and make your money work for you!
