Indian credit card holders best in paying their dues: Study

A survey done by credit information agency CIBIL has revealed that as high as 92% of Indian credit card holders pay more than their monthly dues as compared to 88% Canadians, 89% Americans and 44% South Africans. 

Furthermore, the survey also revealed that Indians are more aware  of penalties associated with non-payment of credit card dues and the negative impact on the credit score that occurs due to delay or non-payment of credit card dues.

Credit card usage is pretty high in cities like Ahmedabad, Pune, Delhi and Mumbai as compared to Bengaluru, Hyderabad, Kolkata and Chennai. 

The survey was run across eight metro cities with 1,100 consumers in India by CIBIL. Among the eight metros which were surveyed, Delhiites use credit cards the most; nearly 93% of people use their credit card as far as online and offline retail shopping is concerned. Moreover, Delhiites also had higher awareness (81%) compared to other cities on the negative impact of a settlement.

As far as financial literacy is concerned, nearly 90% of respondents knew that non-payment would highly affect their credit history and scores, and in turn their borrowing capability is affected. CIBIL survey showed respondents in Kolkata and Chennai had maximum 95% awareness and zero uncertainty, when it came to credit card usage.