Credit card transactions would now sound similar to debit card transactions. The difference lying in the fact that debit card allows a person to spend as much amount as is available in his savings bank account and credit card transactions would now be associated to the amount present in the corresponding fixed deposit account.

The new norm comes in line with tight measures being adopted by banks for issuing new credit cards.

Credit card eligibility norms have been tightened by banks in quite many ways. For instance, a person is not granted a credit card if he has an income less than Rs 30,000 per month. Reference to past credit history is also quite emphasized upon these days by banks.

Lifetime cards have been brought to an end. An array of fees like r joining and annual maintenance and many others are associated with cards now a days.

"We are issuing cards on a selective basis as it is an unsecured portfolio," an HSBC Bank official said.

"ICICI Bank issues cards to both customers and non-customers, subject to fulfilment of credit appraisal norms. We have a full suite of cards products, one of which is a Secured Card (which is for customers with an FD)," says banking major ICICI Bank.

A senior banker said: "Now, for many banks, it is more a question of being in the card segment rather than making profits."