- Personal Finance
Instant Credit Card from ICICI
Verify PayPal With Credit Card
In this article i would like to write about the restriction and its solution for the users of PayPal in India.As all PayPal users are notified with the new rules and their policy change which will be effective from march 1st onwards and this rules are because PayPal is to ensure that they continue to comply with the RBI Guidelines.Of course this new rules are not from papal and it is from the Reserve Bank Of India.Paypal must follow the rules of RBI and;this change is to ensure that PayPal continue to comply with the RBI Guidelines.
According to the new rules only those accounts which are verified by paypal can be used for any further transaction from march 1 st onwards and also
1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and
2. Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
So If you are a PayPal customer and if you buy stuffs from ebay then you will be really in trouble with the new policy change.There is no reason for panic and we Indians have got a solution for this new policy change.So what can be done to lift these new changes?And the solution is Credit Card.Credit Card can be definitely used to verify the PayPal.Credit Card is bank-issued card that allows people to purchase goods or services from a merchant on credit.
But unlike Debit card ,Credit card is not available for everyone.Usually Bank need your salary certificate and other income source to give you a credit card.This is because bank checks your potential that you will be able to pay back money to bank which you are purchased by Credit card.So only Peoples who have a job or those business man who has some good source of income will be eligible to get a Credit card.Is there any options for Students to get credit card in India?
Well in this article i am also supposed to write a solution for above question.As we all know that Developed Nations Like US are offering credit card for students.I India Unfortunately Credit Card is not Being offered to Students unless You have proper Income.Here Comes the Main Role of a private bank in India which is reputed bank In India the ICICI.
ICICI is offering "Instant Credit Card" Which can be availed by students also.I think this will be a great relief for those who has gone mad by the new rules of PayPal in India.So we can lift the new rules of paypal by a "Instant Credit Card" of ICICI.So if you are a student or a firm who has no proper income source or salary certificate then don't worry you can also get Credit Card like those employed person.Currently ICICI bank in India is only offering this"Instant Credit Card".But I am sure that more banks will Introduce this in Near Future.
So What are the Terms and Condition for this Instant Credit Card.
In order to get an Instant Credit Card we need to have a fixed deposit in ICICI bank.This Rule is a mandatory process.And the Next or most important rule is that Cardholder shall be required to maintain / place a fixed deposit of minimum Rs. 20,000/-amount with ICICI Bank.Also the credit limit of the credit card will be 85% of the fixed deposit amount.Bank need some proof that you can pay within the fixed time for those goods which are purchased by Credit Card.The maximum Credit Limit is 3Lakh.
So If you have a fixed deposit of 20000/- in ICICI the the credit limit of your instant credit card will be 85% of 20000/- that is 17000/-.So for more credit limit you need to deposit more funds to your fixed deposit account.
Main Advatage of Credit Card is that
- Use the Credit Card to Verify Paypal Account
- Make Purchases from any Online eCommerce Store like eBay.
- Low interest rate (as low as 1.99%)
- Easy transaction,with mobile alerts monthly updated statements etc.
So Visit your Near ICICI branch and open a fixed deposit and avail the instant credit card.Also these Credit Cards do not have your name printed on them which is the reason you need to apply for another card with the same number but with your name printed on it.
So with these information i think you can verify your PayPal without any salary certificate,Bank Statements or Income Tax Return.Verify your PayPal account with this credit card and lift your withdrawals from PayPal and a happy e shopping by PayPal.Please note "A new credit card can seem glamorous but understand that whatever you spend now, you will have to pay back that later, and then some with interest so try to pay off your monthly balance every time you get your bill. This will increase your credit score and increase your credit limit."