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Mint
a day ago
- Business
- Mint
Prepaid credit card: Can it help build your credit score? Find out
Prepaid credit cards, commonly known as loadable credit cards or prepaid cards, have gained notoriety lately, as a viable alternative to banking. But do prepaid credit cards actually boost or lower your credit score? Let's look into this in-depth and how it affects your credit health. To make purchases using a prepaid credit card, you will need to load your prepaid credit card with funds. You are spending your own money, similar to a digital wallet, so it is not credit. It is a prepaid option with some conveniences such as no requirements for a bank account or credit check with all the convenience of tap-to-pay, online shopping, and international acceptance. Prepaid cards have their own cost structure, even if they are convenient: Activation or issuance fee: A one-time fee when acquiring the card. A one-time fee when acquiring the card. Reloads: Fees for online, cash, or bank transfers of money onto the card. Fees for online, cash, or bank transfers of money onto the card. Monthly or annual card maintenance fee: Regular fixed fee to maintain an account. Regular fixed fee to maintain an account. Fees for ATM withdrawals: For cash withdrawals in India and overseas. For cash withdrawals in India and overseas. Inactivity/dormancy fees: Used at times when there isn't any need for a few months. When making your decision on a prepaid card, you should assess the cost structures, as these fees could compromise the convenience of the card. Banks Prepaid credit card variant SBI Bank State Bank Gift Card State Bank EZ Pay Card HDFC Bank Millennia Prepaid Card GiftPlus Card Axis Bank Meal Card Gift Card ICICI Bank Expressions Gift Card PayDirect Card Yes Bank Yes Bank Corporate Gift Card Yes Bank Payroll Card Bank of Baroda Baroda Gift Card Baroda TravelEasy Card (Note: Please visit the bank's official website to learn more about the prepaid card of your choice. It is crucial to choose the one that best meets your needs.) No, your spending habits are not reported to credit bureaus because you are not taking out a loan. No credit history accumulation, there will be no record that your account is active credit. No credit utilisation impact, because there is not a credit line. No payment behaviour impact, either on time or late. Pre-paid cards have therefore no impact in improving or degrading your credit history. Deepak Kumar Jain, Founder and CEO of explained, 'A prepaid card doesn't involve borrowing or credit; it is a card that is preloaded with a certain amount that you can use to pay for travel and other expenses. Once that balance is exhausted, you need to reload it for spending. It's like spending from your wallet or debit card; there is no credit or borrowing involved, so it does not impact the credit score. The uses of prepaid cards are not reported to credit bureaus like CIBIL or Experian, so they will neither help you build or improve your credit score nor impact it negatively.' Prepaid cards have many benefits: Budgeting control: You cannot spend more than what is loaded. You cannot spend more than what is loaded. Great option for online purchases: Increase safety if doing business with unknown vendors. Increase safety if doing business with unknown vendors. No risk of debt: You get the convenience of a card without the risk of credit. You get the convenience of a card without the risk of credit. Great for unbanked or for kids: A financial tool for beginners. For their characteristics they are truly the best option for gifting, travel, and for budgeted purchases. In conclusion, prepaid credit cards can be an excellent alternative for spending options for travel, gifts, and budgeting, but they have no impact on credit scores. Overall, unsecured credit cards with low limits, secured credit cards, and payments made on a regular loan are much better products for individuals who are serious about improving their creditworthiness. For all personal finance updates, visit here. Disclaimer: Mint has a tie-up with fin-techs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Arab News
15-07-2025
- Business
- Arab News
Pakistan seeks US tariff access, taps Mideast funds as it re-engages global markets
ISLAMABAD: Pakistan is re-engaging with global financial markets, tapping funding from the Middle East and pursuing preferential tariff access with the United States as it works to stabilize its economy and attract fresh investment, Finance Minister Muhammad Aurangzeb said on Tuesday. Pakistan has 'successfully arranged $1 billion in commercial financing from the Middle Eastern region' and plans to launch an inaugural Panda bond while exploring a Eurobond and other international debt markets as its credit ratings improve, Aurangzeb said during a briefing with the Moody's rating agency on Tuesday. 'These changes, together with improving macroeconomic indicators and the reform momentum, would be positively acknowledged by rating agencies, further strengthening Pakistan's case to tap international markets and deepen its external sector stability,' the finance minister said. The virtual session, attended by the State Bank governor and senior officials, also highlighted 'ongoing discussions with the United States on preferential tariff access,' which the minister described as 'making encouraging headway.' The finance team cited key progress under Pakistan's IMF-backed economic plan. Recent reforms include 'prudent fiscal measures' in the new budget, trade and tariff liberalization for export-led growth, and steps to rationalize spending. Aurangzeb also pointed to signs of recovery, including a sharp drop in inflation, a lower policy rate, a stable exchange rate, a current account surplus and foreign reserves rising above $14 billion by the end of June. He underlined plans to raise the tax-to-GDP ratio to 13–13.5 percent in the coming years through technology-driven tax administration, digitization and tougher enforcement. Under the prime minister's direct oversight, he said, a 'Rs. 2 trillion revenue delta' was achieved this year through 'autonomous efforts.' Despite repeated external and fiscal pressures, Pakistan says it hopes improved ratings and renewed investor confidence will lower borrowing costs and keep the economy on a sustainable path. 'Pakistan is ready to carry forward this journey of resilience, reform, and recovery to unlock long-term, inclusive, and export-oriented economic growth,' Aurangzeb said.
Business Recorder
14-07-2025
- Business
- Business Recorder
Balancing the books and the battlefield: Pakistan's fiscal strategy for FY2025–26—III
With an eye on long-term innovation, Rs?79?billion is dedicated to the IT sector. Major developments include the Karachi IT Park, Islamabad Technology Park, and a national freelancing platform. The government also aims to scale up IT exports, which have already grown 21 percent year-on-year. Small and medium-sized enterprises (SMEs) will benefit from increased access to low-cost financing and enhanced risk coverage. Over Rs 300 billion has already been disbursed to 95,000 businesses, with the government planning to double this outreach through new policy tools and financial instruments. Remittances—Pakistan's most stable source of foreign exchange—rose to USD 38.3 billion last year, a remarkable 27 percent year-on-year increase. Enhanced services for overseas Pakistanis, such as secure digital transfers, diaspora awards, and legal protections, are helping cement trust and sustain these vital inflows. These remittances serve as a bulwark against external imbalances and are instrumental in maintaining the State Bank's foreign exchange reserves, which currently stand at a reassuring USD?14 billion. The export target for FY2025–26 is set at USD 35.3 billion—a 7.4 percent increase—while imports are expected to grow to USD?65.2?billion. This will result in a trade deficit of nearly USD 30 billion, which the government plans to offset through robust remittance inflows and foreign direct investment. Exporters, especially in textiles, IT, and rice, will benefit from zero-rated tax regimes, tariff rationalization, and simplified refund systems. A newly proposed Tariff Reform Package aims to reduce maximum duty rates to 15 percent within four years, enhancing global competitiveness and easing the burden on domestic producers. Muhammad Sheroz Khan Lodhi (Karachi) Copyright Business Recorder, 2025
Time of India
13-07-2025
- Entertainment
- Time of India
Kota Srinivasa Rao net worth: How rich was he? Know his education, career, movies, awards & more
Kota Srinivasa Rao net worth: Legendary Telugu actor Kota Srinivasa Rao, best known for his powerful performances and versatile acting across Indian cinema, sadly died on 13 July 2025 at the age of 83. The veteran actor passed away peacefully at his residence in Jubilee Hills, Hyderabad, just days after celebrating his 83rd birthday on 10 July. His career in cinema spanned over five decades, during which he acted in more than 750 movies and gained immense love and respect. Padma Shri Awardee and Political Leader In 2015, Kota Srinivasa Rao was honoured with the Padma Shri, India's fourth-highest civilian award, for his contribution to Indian cinema. Apart from his film career, he also made a mark in politics. He served as a BJP MLA from Vijayawada East between 1999 and 2004. Despite stepping away from the limelight in recent years due to health concerns, he remained a respected figure in the film and political circles. Personal Life and Early Background Born on 10 July 1942 in Kankipadu, Andhra Pradesh, Kota Srinivasa Rao came from a well-educated family. His father, Seetha Rama Anjaneyulu, was a doctor. Before venturing into acting, Rao completed his Bachelor of Science degree and worked at the State Bank. He was married to Rukmini, and the couple had three children – two daughters and a son. His son, Kota Venkata Anjaneya Prasad, tragically died in a road accident in 2010. Prasad had acted in films like Siddham and Gaayam 2, and was appreciated for his performances. His daughters are named Pavani and Pallavi Srinivasa Rao. Rao also had two brothers and four sisters, with whom he shared a close bond. Kota Srinivasa Rao's Film Career: A Legacy That Spanned Generations Kota Srinivasa Rao's career began in 1978 with the film Pranam Khareedu, which also marked Chiranjeevi's debut. Over the next 47 years, he became a household name, acting in over 750 movies across Telugu, Tamil, Kannada, Malayalam, and Hindi cinema. He played a wide range of characters – from villains to comic roles and character parts – leaving an indelible mark with his screen presence. He starred alongside superstars like Chiranjeevi, Pawan Kalyan, Balakrishna, Prabhas, Mahesh Babu, Ram Charan, and Allu Arjun. Some of his recent films included Kondapolam, Hero, and Suvarna Sundari, showcasing his ability to adapt even in the later years of his life. Kota Srinivasa Rao's Net Worth: How Wealthy Was He? Despite being a legend in the film industry, Kota Srinivasa Rao's net worth remains a topic of intrigue. Over his long career, he earned substantial wealth. According to Filmibeat Telugu, his total net worth is estimated to be close to Rs 80 crore, thanks to his successful movies and popularity across South Indian cinema. However, it is interesting to note that during his time in politics, his election affidavit showed assets worth just Rs 10 lakh in his name. This contrast led many to admire his humility and simple lifestyle, despite his financial success. Famous Movies of Kota Srinivasa Rao Throughout his career, Kota Srinivasa Rao starred in many blockbuster and critically acclaimed movies. Some of his most memorable films include: Pratighatana (1985) Gaayam (1993) Teerpu (1994) Little Soldiers (1996) Ganesh (1998) Chinna (2001) Prudhvi Narayana (2002) Aa Naluguru (2004) Pellaina Kothalo (2006) S/O Satyamurthy (2015) Attarintiki Daredi (2013) Rakta Charitra (2010) Bommarillu, Ready, Leader, Chatrapathi, Athadu, Sarkar, Malliswari, Idiot, Siva, and Aha Naa Pellanta. He also ventured into Tamil cinema in 2003 with Saamy, where his role as a villain gained him recognition among Tamil-speaking audiences. Tributes Pour in After Kota Srinivasa Rao Died The film industry was left in shock after news broke that Kota Srinivasa Rao died. For the past couple of years, he had been suffering from health problems and was mostly confined to his home. His condition worsened in early July, and he passed away in the early hours of 13 July 2025. Many Tollywood celebrities, film producers, directors, and political leaders expressed their condolences and shared fond memories of working with the legendary actor. His contribution to Indian cinema, especially the Telugu film industry, remains unmatched and unforgettable. Kota Srinivasa Rao was not only a celebrated actor but also a respected leader and a humble human being. His movies, achievements, and long-standing career will always be remembered. Even after he died, his legacy continues through his timeless performances and the love of millions of fans. For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.
Indian Express
13-07-2025
- Entertainment
- Indian Express
Kota Srinivasa Rao Death Live Updates: Chiranjeevi, Sreenu Vaitla, N Chandrababu Naidu mourn demise of Telugu actor
Actor Kota Srinivasa Rao Death Live Updates: Veteran Telugu actor Kota Srinivasa Rao has passed away at the age of 83 after a prolonged illness. The former BJP MLA from Vijayawada breathed his last at his Film Nagar residence in Hyderabad on Sunday morning. With over 750 films in a career spanning more than four decades, Rao was one of the respected actors in the industry. Born on July 10, 1942 in the village of Kankipadu, Andhra Pradesh, Rao, who initially wanted to be a doctor, found himself drawn towards acting after taking part in college plays. Before entering the industry, he was a State Bank employee. Andhra Pradesh chief minister N Chandrababu Naidu took to X (formerly Twitter) to pay tribute to Kota Srinivasa Rao. He wrote, 'The passing of veteran actor Kota Srinivasa Rao, who won the hearts of film audiences through his diverse roles, is deeply saddening. His artistic contributions to cinema and theatre over nearly four decades, and the unforgettable characters he portrayed, will be remembered forever. The many memorable roles he played—as both a villain and a character actor—have left a lasting impression on Telugu audiences. His death is an irreparable loss to the Telugu film industry. In 1999, he also served the public as an MLA from Vijayawada. I extend my heartfelt condolences to his family.'
