Kolkata: If you are used to make regular payments through UPI, you must be aware that all the payments one usually makes through UPI is from one’s own savings account in a bank. However, latest service features have made it possible that one can borrow money and pay through UPI. It is done by linking the UPI account to a credit card. Now all credit cards don’t offer this convenience.
In a sense, it is an extremely useful feature since it allows one to spend through UPI even when one does not have money in his/her own account. Also one does not need a POS machine to swipe a credit card. From another perspective, it also enhances the use of credit cards. But which cards allow you to link it to UPI? Have a look.
The credit cards
RuPay credit cards allow card users to route UPI transactions through them. RuPay is a payment network in India that was developed by the National Payments Corporation of India, which is the parent of UPI. Different types of cards are issued under the RuPay umbrella — credit cards, debit cards, and prepaid cards. These can be classic, platinum and select.
Among the banks that are known to offer this service are State Bank of India (SBI), Axis Bank, BoB, HDFC Bank, ICICI Bank, IDFC First, IndusInd bank, Kotak Mahindra Bank, PNB, RBL Bank, CSB Bank and Yes Bank. The RuPay cards that allow UPI linage include the following:
- IndusInd Bank Platinum RuPay card
- ICICI Bank Coral RuPay Credit Card
- HDFC Bank Freedom RuPay Credit Card
- HDFC Bank Tata Neu RuPay Platinum Card
- Axis Bank Airtel RuPay Card
- PNB Platinum RuPay Credit Card
- PNB Patanjali RuPay Credit card
- Kotak RuPay Platinum credit card
However, it must be remembered that credit cards bear the highest interest rates compared to all types of retail loans. Therefore, one has to use a credit card with discretion. Since the use of UPI is extremely convenient, its combination with a credit card can easily catch an indiscreet user in a debt trap.
One can link one’s credit card with UPI, which allows one to pay through UPI not with funds from one’s own account but from borrowed funds. But all credit cards don’t offer this service. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
