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What is a Credit Card?
A Credit Card is a plastic card issued by financial institutes or banks to the user for shopping at point of sale or online. Credit Cards come with a minimum of 30 days interest free period.
Credit Card Interest Rates
All Credit Cards in India give you a minimum 30 days interest free period, post that interest rates start at 2.5% per month (30% per annum) to 3.75% per month (45% per annum).
Best Credit Cards at BankBazaar.com
BankBazaar.com helps you compare various Credit Card offers online and helps you choose the best Credit Card for you.
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We've identified the best credit cards for your profile.
Rates & special offers displayed below are accurate & applicable ONLY for
applications
made
on
BankBazaar.com
Tell us about yourself and we'll find the best credit card offers
Convert your everyday card purchases into free flights.
Jet Airways ICICI Bank Coral Credit Cards
- A choice of American Express or Visa or Both
- 2,500 JPMiles on joining
- Exclusive privileges across entertainment and dining
- Lounge access, courtesy American Express and Visa
Jet Airways ICICI Bank Coral Credit Cards
Jet Airways ICICI Bank Sapphiro Credit Cards
- A choice of American Express or Visa or Both
- 10,000 JPMiles and a Complimentary Jet Airways base fare waived off ticket on joining
- Exclusive online booking privileges, extra baggage allowance and premier check-in
- Exclusive privileges across entertainment, dining, wellness and golf
- Lounge access, courtesy American Express and Visa
Jet Airways ICICI Bank Sapphiro Credit Cards
Citibank PremierMiles Card
- Get 100001 Miles as activation benefit.
- Earn 10 Miles for every Rs 100 spent on airlines
- Earn 4 Miles for every Rs 100 of all other spends
- Redeem your miles at over 100 airlines on www.premiermiles.co.in
- Redeem your miles up to 3 hours before take off
Citibank PremierMiles Card
Jet Airways ICICI Bank Rubyx Credit Cards
- A choice of American Express or Visa or Both
- 5,000 JPMiles and a Complimentary Jet Airways base fare waived off ticket on joining
- Exclusive privileges across entertainment, dining, wellness and golf
- Lounge access, courtesy American Express and Visa
Jet Airways ICICI Bank Rubyx Credit Cards
Terms & Conditions apply.
1These 10,000 Miles will be credited to the customers on their first transaction of at least Rs.1,000 within 60 days of card booking.
^^Please note that irrespective of the choice made above, you will continue to receive account statements, important advices, alerts and other communication pertaining to the products that you have applied for with Citibank.
As a part of credit card application procedure, Citibank will require your recent passport size photograph; address proof and self-attested copy of your valid photo identity document. You will be contacted separately for collection of these documents. The documents submitted along with the application will be kept with the bank for record purposes and will not be returned.
Issuance of the Credit Card is at the sole discretion of the bank and is subject to the bank's approval criteria.
Conditions apply.
Own a card inspired by the unique qualities of a rare gemstone.
ICICI Bank Coral VISA Credit Card
- Limited period offer: Joining fee
Rs.1000Rs.500 - 2X cash rewards on dining, groceries and at supermarkets
- Buy 1, get 1 movie ticket free, through the week
- Get a complimentary designer tie/stole and gift vouchers from Satya Paul on joining.
ICICI Bank Coral VISA Credit Card
Conditions apply.
Earn cash back and rewards on all fuel purchases, along with entertainment and dining benefits.
ICICI Bank HPCL Platinum Credit Card
- Reduce fuel bills with 2.5% cash back & 2.5% fuel surcharge
- Earn free fuel with 2.5X rewards on fuel purchases
- Up to Rs.200 off every month on movie tickets
- Minimum 15% savings at participating restaurants
- Additional security of a chip
ICICI Bank HPCL Platinum Credit Card
IndianOil Citibank Platinum Card
- Activation benefits worth Rs. 250, for cards booked before July 31, 2013
- Save over 5% on fuel purchase at IndianOil Outlets1
- Earn 2 Turbo Points for every Rs100 spent on grocery spends2
- Redeem Turbo Points for free fuel instantly at select outlets*
IndianOil Citibank Platinum Card
ICICI Bank HPCL Titanium Credit Card
- Reduce fuel bills with 2.5% cash back & 2.5% fuel surcharge
- Earn free fuel with 2.5X rewards on fuel purchases
- Up to Rs.200 off every month on movie tickets
- Minimum 15% savings at participating restaurants
- Additional security of a chip
ICICI Bank HPCL Titanium Credit Card
Terms & Conditions apply.
1Only on Citibank EDCs.
2Click here for a list of applicable stores.
*Click here for free fuel T&C.
^^Please note that irrespective of the choice made above, you will continue to receive account statements, important advices, alerts and other communication pertaining to the products that you have applied for with Citibank.
As a part of credit card application procedure, we will require your recent passport size photograph; address proof and self-attested copy of your valid photo identity document. You will be contacted separately for collection of these documents. The documents submitted along with the application will be kept with the bank for record purposes and will not be returned.
Issuance of the Credit Card is at the sole discretion of the bank and is subject to the bank's approval criteria
Conditions apply.
Earn rewards on all purchases
Citibank Rewards Card
- Activation benefits worth Rs10001, for cards booked before July 31, 2013
- Enjoy 10x Reward Points on spends at Apparel & Department Stores2
- Earn 1 Reward Point for every 125 spent anywhere else
- Redeem rewards instantly across 600+ stores
- No annual card fee3
Citibank Rewards Card
Citibank Cashback Card
- 5% cash back on ALL your movie ticket and telephone bill payments^
- 5% cash back on ALL bill payments made through Citibank Billpay*
- 0.5% cash back on every swipe across all other purchases
- Hassle free automatic redemption of cash back in multiples of Rs. 500
Citibank Cashback Card
ICICI Bank Platinum Chip VISA Credit Card
- No Joining Fee
- Enjoy security of a Chip Card
- Earn 2 PAYBACK points on every Rs.100 spent
- Minimum 15% savings on dining at participating restaurants
- Save on 2.5% fuel surcharge, waived off at HPCL petrol pumps
ICICI Bank Platinum Chip VISA Credit Card
Terms & Conditions apply.
11500 bonus reward points on your first spend within 30 days of card issuance, credited within 60 days of transaction date & 1000 bonus reward points on your first spend of Rs.1,000 within 60 days of card issuance credited in the subsequent statement. Click here for terms & conditions.
2The 10X points accrue on spends till Rs.7,000 (or 560 points) per month in Apparel & Department stores. For spends beyond this, earn 1 point per Rs.125. Identification of apparel & department stores are based on Merchant Category Codes allotted by Visa & MasterCard to the merchant where purchase is made. 10X Rewards at featured partners are limited period offers.
3Spend Rs.30,000 in a year and enjoy No Annual Card Fee, else a fee of Rs.1,000 will be applicable at the end of the year.
^^Please note that irrespective of the choice made above, you will continue to receive account statements, important advices, alerts and other communication pertaining to the products that you have applied for with Citibank.
As a part of credit card application procedure, we will require your recent passport size photograph, address proof and self-attested copy of your valid photo identity document. You will be contacted separately for collection of these documents. The documents submitted along with the application will be kept with the bank for record purposes and will not be returned.
Issuance of the Credit Card is at the sole discretion of the bank and is subject to the bank's approval criteria.
Terms & Conditions apply.
*This is subject to a maximum cap of Rs.100 per month. ^Identification of these transactions are based on MCCs (Merchant Category Codes) allotted by Visa and MasterCard.
Conditions apply.
Experience ultimate luxury with Premium Credit Cards
ICICI Bank Rubyx Credit Cards
- India's first dual Platinum Credit Card.
- Benefits from American Express & MasterCard
- Flexible rewards plans
- Exclusive privileges across entertainment, dining, wellness and golf
- A complimentary set of Bose IE2 Audio Headphones on joining
ICICI Bank Rubyx Credit Cards
ICICI Bank Sapphiro Credit Cards
- Gold Elite tier membership of the Flying Blue frequent flier programme
- Complimentary airport lounge access
- Exclusive events & Thursday night movie premieres
- A complimentary Apple iPad2 16GB WiFi on joining
ICICI Bank Sapphiro Credit Cards
Conditions apply.
Step 1 of 3
Credit Card Overview
Today credit cards have found widespread usage due to the convenience they offer. Unlike the old days, you do not have to carry large sums of money when you go shopping. All you need to do is take your credit card with you when you go out shopping, select whatever you want to buy, hand over your card to the cashier to make the payment and walk out with your purchase. Simple, isn't it? Card issuing banks offer many types of benefits like cash back, reward points, interest free credit and discount offers on purchases made at select stores. All this makes it attractive to use a credit card in lieu of cash for your purchases. If you are wondering, "What happens after I hand over my card to the cashier?", then read on to know more.
When you hand over your credit card to the cashier to pay for your purchases he takes it and swipes it in the merchant's point of sale (POS) system. This system is connected to the merchant's bank via a communication link. This POS system helps in verifying your data by using an electronic verification system. The details verified include the validity of your card and the availability of sufficient balance on your credit card to pay for the purchases.
Once your details are transmitted to the merchant's bank, they are sent to your bank which then authorizes the payment if all the details are in order. This authorization is then sent to the merchant's bank, which then blocks the amount from your credit limit so as to reimburse it to the merchant later on. The authorization generates an approval code and is transmitted to the merchant. This code has to be keyed in by the cashier, after which two copies of charge slip are generated. This charge slip is your agreement to pay your issuing bank the amount of purchase. You then sign one copy of the charge slip and take the other one with you, along with your purchase.
Just like you, there are many others who use credit cards for their purchases. They also generate their own charge slips. All these charge slips are stored in batches and submitted by the merchant to his bank, once a day at the end of the working day. But remember, the nature of the relationship of the merchant with his bank is far different from your relation with your bank. It is called a merchant account and is actually a line of credit rather than a regular account. As per this contract, the bank agrees to undertake collection of payments on behalf of the merchant from his customers' banks. These payments are credited to the merchant's bank accounts after deducting the fees for all the services involved.
When the merchant deposits these batches in his bank, they are sent by the merchant's bank for clearing and settlement through the credit card association. This association charges your purchase amount to your bank and pays the amount to the merchant's bank. The merchant's bank then reimburses this amount to the merchant.
Your bank now charges your purchase amount to your credit card account. On the specific date, your bank will generate an account statement, listing all the credit and debit transactions in your account. If the debits are higher than credits, you have to pay the difference to your bank. You will also be given a due date, which is the last date by which you have to repay your bank in full. Failure to pay off this amount in full by due date will mean you will have to pay late fees as well as interest charges to the bank. These fees and charges can be very high, so be very careful.
Credit cards are a powerful credit tool to help you tide over short term financial requirements. However they must be used judiciously, as any misuse of the credit card can attract stiff charges and make you fall into debt trap, besides destroying your credit rating. So the watch word is - BE CAREFUL when using the credit card.
Some of the major banks that issue credit cards include:
- Axis Bank Credit Cards
- HDFC Bank Credit Cards
- Apply CitiBank Credit Cards
- ING Vysa Bank
- ICICI Bank Credit Cards
- State Bank of India (SBI)
- American Express
Credit Card FAQs
- Who can get a Credit Card?
Anyone with a fixed income, aged above 21 & good CIBIL credit score can get a credit card.
- What will be my credit limit?
The credit limit will depend on various factors like your income, repayment, CIBIL score, etc. Your credit limit can be increased or decreased depending on your last years spending and repayment history.
- Can I get an Add-on card? And will there be a separate credit limit on the Add-on card?
Yes, you can get an Add-on card but, it will totally depend on the offers the credit card issuer is running at a given point of time. There will not be a separate credit limit for the add-on card.
- What should I do if there is a fraud transaction on my credit card?
You should immediately inform your credit card issuer about the fraud transaction.
- What should I do if my Credit card is lost or stolen?
If your credit card is lost or stolen inform your credit card issuer within 24 hours and block your card immediately for any fraudulent transactions. Ask your card issuer to send you a new card which generally gets delivered in 3-4 working days.
- Which payment network credit cards are available in India?
Basically, Visa, MasterCard and American Express are three popular payment networks available in India. Payment Networks are not credit card issuers your credit card is issued by banks or other financial institutes.
- What is a grace period?
A grace period is interest free period for you to pay your credit card balance in full without any interest rate charges. The grace period is calculated based on your billing cycle and not from the date of the transaction.
- Will there be any joining fees for credit card?
Most credit card issuers do not charge you any joining fees. Some may charge you but they might reverse those charges in your first credit card statement.
- Is there any annual fee associated with credit cards?
Most issuers waive off annual fee for the first year and then charge a minimum amount of Rs. 500 as annual fee.
- What is the interest rate/finance charge for credit cards?
The finance charges will wary for each card issuer and type of card like Platinum, Gold, Titanium or any special credit card. Generally credit card interest rates start at 2.5% per month (30% per annum) to 3.75% per month (45% per annum).
- Will there be an overdue penalty or late payment fee?
Yes, every card issuer will charge you a late payment fee ranging from Rs 300 to Rs 600.
- Will there be a separate charge for foreign currency transactions on my credit card?
Yes, every card issuer will charge you some percentage of the transaction value for the foreign currency transactions. It is generally around 3.5% of the transaction value.
- How can I make my credit card payment?
- Credit Card issuers provide the following credit card payment options:
- Through ATMs: Make payments through your card issuing bank ATMs.
- Through Net banking: Make Card payments using your Net banking.
- Visa Money Transfer
- Standing Instructions: If you have bank account with your card issuing bank then you can give standing instructions to directly debit the minimum amount due or full payment due for your monthly credit card payment.
- National Electronic Funds Transfer (NEFT): Transfer funds from any other bank account to make your card payments.
- Drop Box Option: You can also drop a local cheque, payable to bank card A/c followed by your card number, at any drop box located in ATMs and branches of your card issuer.
- Over the counter: You can pay directly by visiting your card issuing bank and make the cash payment for your credit card outstanding.
Credit Card Eligibility & Documentation
Credit Card Eligibility Criteria:
- Card holder should be in the age bracket of 18 years to 70 years.
- Should have a fixed monthly income.
- Should have a good CIBIL credit score.
Documents required for Credit Card:
- Pan Card Photocopy OR Form 60
- Latest Salary Slip, Form 16, Income Tax return copy as income proof
- Passport, driving license, ration card, etc for residence proof.
Credit Card Credit Card Details
Features & Benefits of Credit Cards :
To fulfill dreams which can’t wait, apply for credit cards and live your dreams.
Credit Cards come with great features and benefits :
- Save on fuel spends
- Exiting reward programs
- Comprehensive Insurance coverage
- Cash back facilities
- EMI facility on your product purchases
- Balance Transfer facility
- Interest Free Period
- Special discounts on various products
Credit Card Articles
- Balance of transfer on cards–Make most of it!
Have you ever run into a situation where you find your current outstanding dues on your credit card suddenly overwhelming? Do you wish you had better benefits on your card? There is a way out which will give you more time to pay off the dues and also get rid of your current credit card. Balance of Transfer facility is the answer. - Use your credit card right!
Never exceeding 40% of your credit limit has a very beneficial effect on your credit score. This shows your credit limit is high but you have not burnt it up and have plenty in reserve. This logic helps you attain a much higher credit score. This is the same logic that suggests you should not close any credit card accounts, as they collectively will provide you a high credit limit, which is good for the score. - Prevent credit card fraud!
Whenever you use your card, always ensure that the transaction is completed in front of you and that no details are written down by the merchant. Do not provide photocopies of both sides of the credit card to anyone. The card verification value (CVV) which is required for online transactions is printed on the reverse of the card. Anyone can use the card for online purchases if the information is available with them. - Credit card checklist!
As the features offered by each credit card varies, it is essential for you to understand which features will benefit you a lot. If you are shopping regularly at a particular store, go for a credit card that offers your reward points or cash back or discount when you shop at that store. Don’t select a card that offers you free air miles on usage, if you are not a regular flier.
