The maximum amount of interest that banks can charge on credit cards has been hiked to 25 percent from 20 percent in tune with changes in the policy interest rate and increase in lenders’ cost for fund mobilisation.
Credit cards simplify foreign travel by offering cashless security, lounge access, easy booking, reward points, and expense tracking. They enable smooth transactions, discounts, and financial management, making travel more convenient and cost-effective for users.
Bangladesh Bank data showed that transactions through credit cards increased to Tk 3,490 crore in March. Of the amount, Tk 2,985 crore was spent within the country while the remaining was spent abroad.
Customers spent Tk 2,678 crore in Jan this year, up from Tk 2,674 crore in Dec 2023
Credit card spending decreased in last November compared to the preceding month, according to BB
Credit card issuance by banks in Bangladesh witnessed slower growth in 2023 thanks to tightening of regulations by NBR
Credit cards, a cornerstone of modern financial management, offer a convenient way to make purchases, build credit, and reap rewards. However, the path to maximising their benefits while maintaining financial health is nuanced, requiring strategic use and understanding. Here's a guide to the best practices for credit card usage, addressing the selection of the right card, management strategies, and the pros and cons of holding multiple cards.
The foreign exchange crisis in Bangladesh has dealt a blow to credit card users as the sharp appreciation of the US dollar against the taka has narrowed their scope for foreign purchases through cards.
People spent Tk 2,312 crore in February, down by 8% from January’s Tk 2,506 crore
The maximum amount of interest that banks can charge on credit cards has been hiked to 25 percent from 20 percent in tune with changes in the policy interest rate and increase in lenders’ cost for fund mobilisation.
Credit cards simplify foreign travel by offering cashless security, lounge access, easy booking, reward points, and expense tracking. They enable smooth transactions, discounts, and financial management, making travel more convenient and cost-effective for users.
Bangladesh Bank data showed that transactions through credit cards increased to Tk 3,490 crore in March. Of the amount, Tk 2,985 crore was spent within the country while the remaining was spent abroad.
Customers spent Tk 2,678 crore in Jan this year, up from Tk 2,674 crore in Dec 2023
Credit card spending decreased in last November compared to the preceding month, according to BB
Credit card issuance by banks in Bangladesh witnessed slower growth in 2023 thanks to tightening of regulations by NBR
Credit cards, a cornerstone of modern financial management, offer a convenient way to make purchases, build credit, and reap rewards. However, the path to maximising their benefits while maintaining financial health is nuanced, requiring strategic use and understanding. Here's a guide to the best practices for credit card usage, addressing the selection of the right card, management strategies, and the pros and cons of holding multiple cards.
The foreign exchange crisis in Bangladesh has dealt a blow to credit card users as the sharp appreciation of the US dollar against the taka has narrowed their scope for foreign purchases through cards.
People spent Tk 2,312 crore in February, down by 8% from January’s Tk 2,506 crore
Banks can now fix interest rate of their credit cards, Bangladesh Bank (BB) said today after allowing the lenders to charge up to 12 per cent interest on consumer credit.
