Canara Bank Credit Cards

Mr. Sharma is enjoying free airport lounge access with his Credit Card. What about you? Get A Card

Canara Bank offers credit cards to cater to both the moderate and indulgent lifestyle. You can avail of domestic cards as well as Global usage cards as per your needs. Choose between 6 cards to suit your lifestyle and affordability. In association with VISA, Canara Bank presents the Classic and Gold cards. In association with Mastercard, Canara Bank presents the Classic, Gold and World card. It also issues a Corporate Credit Card designed to meet the needs of the corporate companies and its employees.

With your Canara Bank credit card, you can earn reward points as you spend. You also have easy access to cash when you need. Get free accident and baggage insurance, and even better rates on Mediclaim policies. You also have the benefit of purchase protection which secures you against fraudulent products and sellers.

Did you know that Mr. Kumar’s Credit Card gets him free movie tickets every month? Get A Card

Why choose Canara Bank Credit Card?

Canara Bank issues a variety of cards designed to meet your requirements and in turn, requires very little from you. To avail of a credit card from Canara Bank, the minimum income in Rs. 1 lakh per annum. Get generous credit limits, interest-free periods and revolving credit facilities, earn reward points as you spend and cash advances with your Canara Bank credit card.

Features and Benefits of Canara Bank Credit Card :

Reward points:
Get two points for every Rs. 100 you spend. Redeem your points at Rs. 0.25 per point.
Special offer on Mediclaim insurance:
M/s United India Insurance Company offers Mediclaim policies for Canara Bank credit cardholders at competitive premiums. Make payments for the premium with your credit card and get interest-free period of 20-50 days.
Complimentary Baggage Insurance:
Get peace of mind while you travel with complimentary insurance coverage against lost baggage for up to Rs. 25,000.
Complimentary Accident Insurance:
Receive complimentary insurance against accidental death for yourself and your spouse. The insurance coverage depends on the choice of your credit card.
Cash Advance:
Get cash when you need! With your Canara Bank credit card you can withdraw up to 50% of your credit limit. A maximum of Rs. 50,000 can be withdrawn against your card account at a minimal fee.
Add on cards:
Extend the benefits of this credit card to your immediate family members. They should be at least 18 years old.
Zero Annual Fees:
Enjoy zero annual fees on all the Canara Bank credit cards. Only add on cards for corporate credit cards carry an annual fee of Rs. 400.
Fuel surcharge waiver: Get a waiver on the 2.5% fuel surcharge if you use your card to buy petrol and petroleum products for Rs. 400 and above. You should spend at least Rs. 2,500 on petrol transactions in the billing month. Rs. 100 maximum will be reimbursed monthly.
Internationally accepted:
Canara Bank issues cards for domestic use. Global cards will be issued upon request. These cards are accepted around the world at merchant outlets and ATMs. You can get VISA or Mastercard credit cards. The credit cards can also be used on the Internet, IVRS, Mail order and Teleshopping.
Purchase Protection:
If the product or service you purchased is fraudulent, stolen and duplicate or damaged, you are protected against paying for it. Report the purchase to Canara Bank as soon as possible to be protected. The bank will not charge the amount to your credit card.
SMS alerts:
Canara Bank provides SMS alerts free of charge. Be up to date on your balance, billed amount, due dates and transactions.
Interest-free period:
Spend on your card and avail of 20 and 50 days credit periods to make the payment. Clear your bills in full every month to continue this interest-free cycle. Interest will be charged only when you carry forward a balance.
Revolving credit:
Pay your bills according to your convenience. The minimum due is calculated as 5% of the billed amount. This is subject to a minimum of Rs. 100 and must be paid by the due date. The remainder can be carried forward with interest.
Credit limit:
Get generous credit limits depending on your annual incomes. You can avail of 30% to 50% of your annual income. The maximum credit limit offered is Rs. 25 lakhs. The credit limits are determined at the sole discretion of Canara Bank Card Division.
No lost card liability:
In case you lose your card, report it immediately to Canara Bank. Your liability will be limited to Rs. 1,000 after reporting.

Canara Bank Credit Card Charges and Interest:

Charge	Classic/Standard	Gold	Secured	World	Corporate
Joining Fee	Nil	Rs. 250 for EMV chip and PIN card	Nil	Rs. 250 for EMV chip and PIN card	Rs. 250 for EMV chip and PIN card
Annual Fee	Nil	Nil	Nil	Nil	Rs. 400
Supplementary Card	Nil	Nil	Nil	Nil	NA
Card inactivity	Rs. 400 if card turnover is less than Rs. 12000 during the year	Rs. 750 if card turnover is less than Rs. 25000 during the year	Rs. 300 if card turnover is less than Rs. 12000 during the year	Rs. 1000 if card turnover is less than Rs. 50000 during the year	NIL
Add on Card inactivity	Rs. 300 if card turnover is less than Rs. 12000 during the year	Rs. 750 if card turnover is less than Rs. 25000 during the year	NA	Rs. 1000 if card turnover is less than Rs. 50000 during the year	NA
Interest on revolving credit	2.5% per month or 30% per annum + GST as applicable
Minimum due	5% of the billed amount, subject to Rs. 100 minimum

Mr. Sharma enjoys great discounts on dining with his Credit Card. What about you? Get A Card

Canara Bank Credit Card Rewards:

Earn rewards while you spend. Collect 2 reward point for every Rs. 100 spent on your Canara Bank credit card. To register for reward points, you need to log into www.canararewardz.com and active your reward point account. Get your login credentials and then you can view and redeem your points. Earn even more rewards under the Maxgetmore rewards scheme.

Redemption:

Each reward point you earn is worth Rs. 0.25. You can redeem your points from an array of options that range across apparels, electronics and more. Get movie tickets and mobile or DTH recharges. You can also redeem your points at select merchant outlets.

Please note that disputed or cancelled transactions, balance transfer, cash withdrawals, foreign currency transactions, interest and card charges are not eligible for reward points.

Canara Bank Credit Card Eligibility:

The eligibility criteria set by Canara Bank to avail of its credit cards differs from card to card. The following is the general criteria for all credit cards offered.

Domestic and Global Cards:

You should have satisfactory dealings with Canara bank and the particular branch.
Canara Bank account holders will get preference.
You should have a PAN card.
The minimum income required is Rs. 1 lakh per annum.
A good credit history is required. Canara Bank will check your CIBIL score.
You need to provide a valid mobile number to subscribe for the SMS alerts.

Corporate Card:

Companies/Firms who have credit limits with Canara Bank with S1 and S2 status.
For Companies without credit limits, they should have 12 months of satisfactory dealings.
Member affiliate banks are also eligible.

Canara Bank Credit Card Documents Required:

To complete the process of applying for a Canara Bank credit card, you need to submit the following documents.

Passport size photo
Copy of PAN card
In case of NRI customers, the passport is required
Income proof
Form 16
Latest Balance Sheet
Salary certificate
IT assessment order/Latest IT returns

The bank may require more documentation at its own discretion.

Check Your Eligibility

List of Canara Bank Credit Card:

VISA Classic Credit Card - A card designed to meet the moderate lifestyle, this card is brought to you in association with VISA. You need a minimum of Rs. 1 lakh to be eligible. It brings comfort and convenience to your everyday life.

Mastercard Standard Credit Card - This card is brought to you in association with Mastercard. Avail of this card to meet the needs of a moderate lifestyle while indulging in rewards and other benefits.

Global Gold Credit Card - The Global Gold card is tailored to meet a high-end lifestyle. It is a card that is targeted at the elite class of society to cater to their needs of convenience, comfort and luxury. You need to show at least Rs. 2 lakh annual income to avail of this card.

Corporate Credit Card - This corporate card is designed for corporate clientele. It is issued to non-individuals such as public and private companies, partnership firms, tax consultants, public sector undertakings firms of chartered accountants, and solicitors of good standing.

Canara Bank Credit Card FAQs:

What is the maximum interest-free credit period?
You can get upto 50 days interest-free with a Canara Bank credit card. So you have up to 50 days to make payments for your purchases in that billing month. The period will be determined according to the date of your transaction and the billing date. If you clear your bills in full, your interest-free period will continue. If you carry forward a balance, then the interest-free period lapses. Interest will be charged on the revolving amount as well as any subsequent purchases.
What is the minimum due on a Canara Bank credit card?
Canara Bank charges a minimum of Rs. 100 as the minimum due on any credit card bill. Your minimum due is calculated as 5% of the total billed amount. This must be paid by the due date to avoid penalties and other corrective action.
What fees will I incur on missed payments?
2% of the missed payment amount will be charged plus GST as applicable. Your card will be temporarily suspended till you clear your bill in full.
What do I do if I cannot pay back my Canara Bank credit card?
Always spend only as much as you can afford on your credit card. Credit cards should not be misused. If you cannot pay back your bill, contact the bank and communicate your case with them. Some banks usually devise EMI schemes for you to pay it back. If you ignore your outstanding credit card dues, Canara Bank will send you reminders to pay the bill. Your outstanding amount will continue to accumulate interest and penalties. Your card will then be hotlisted. You will be reported to CIBIL and be blacklisted. This will affect future credit opportunities such as loans and overdrafts. Canara Bank can also take legal action to recover the amount due.
When will I receive my Canara Bank credit card statement?
Canara Bank will send your credit card statement well before the due date through email or post. You can choose which method you would prefer. The bank will also send you SMS alerts regarding the amount due and the payment due date.
When is the payment due date for a Canara Bank Credit Card?
The Mastercard credit cards are billed on the last working day of every calendar month. The credit card payment due date will be the 20th of the following month. The VISA credit cards are billed on the 20th of every month. The credit card payment due date will be the 10th of the next month.
How do I pay my Canara Bank Credit Card bill?
Canara Bank has a number of options for you to pay your credit card bill.
- Account holders can use the auto debit facility. The credit card dues will be debited from the operative account.
- Electronic Fund Transfer (NEFT) facility
- Avail of free Demand Drafts from any Canara Bank branch towards payment of your card dues.
- Remit cash or even cheques at any branches of Canara Bank.

*Note: All rates are subject to change, therefore a customer has to keep on checking the latest rates as required from time to time. GST rate of 18% applicable for all financial services effective July 1, 2017

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News About Canara Bank Credit Card

Canara Bank Launches RuPay Credit Card
The brand new RuPay Credit Card is Canara Bank’s latest venture into the cashless economy. The product has been launched in association with the National Payment Corporation of India. Loaded with benefits and incentives, the bank promises to boost up the company’s technological reach through this undertaking. RuPay Credit Card boasts of benefits including attractive merchant offers, 20-50 days of interest-free repayment period, a comprehensive accidental insurance cover up to Rs. 1 lakh, along with reward points for every cashless transaction. The customers can choose from a range of credit card options viz. RuPay Classic Credit Card, RuPay Platinum and RuPay Select, based on their requirements. Rakesh Sharma, the CEO and Managing Director of Canara Bank, assured that RuPay Credit Card would be an accepted mode of payment at over 30,00,000 sale points along with 8,000 e-commerce merchant units.

19 July 2018
Canara Bank Launches 3 New Premium Cards

Canara Bank, a premier public sector bank, on Wednesday (25.02.2015), launched three premium cards namely, Canara Credit Card World, Canara Business Debit Card and Canara International Travel Prepaid Card in collaboration with Master Card.

The Canara Credit Card World is a prime credit card aimed at customers with a minimum net annual income of ? 7.5 lakh. This premium card comes with high credit limit coupled with extra security features.

Next in line during the launch was the Canara Business Debit Card for entrepreneurs in the SME sector. This card offers higher cash withdrawal and purchase limits, while also syncing with the purchase limit requirement of the new age entrepreneur.

Canara International Travel Prepaid Travel Card is tailor made for the students travelling abroad for studies. The multi-currency card can be easily loaded with monies in various currencies, making it a preferred card for frequent travellers.

27 February 2015

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