Thank you for your interest in Credit Card from AXIS BANK. Unfortunately, we do not have a tie-up with AXIS BANK currently.
Talk to our experts to apply for a similar offer from our partner banks instead
Thank you for your interest in Credit Card from AXIS BANK. Unfortunately, we do not have a tie-up with AXIS BANK currently.
Talk to our experts to apply for a similar offer from our partner banks instead
Credit Cards are a boon for anyone who does not love to carry cash around. Earlier, for every transaction that you made, you had to pay for it in cash. The case is not the same after the invention of plastic money such as credit and debit cards. A credit card allows people to pay for goods and services at merchant stores around the world.
There are many banks and financial institutions in India that offer different types of credit cards such as travel credit card, entertainment credit card, lifestyle credit card, co-branded credit card, etc. Providers generally classify these cards based on the annual income of the cardholders. Different cards offer different rewards so cardholders can choose a card depending on their requirements. For example – if someone shops regularly, a shopping rewards credit card will benefit them more compared to other types of cards.
|How to use a credit card?||Compare Credit Cards||Benefits of Credit Cards||Features of Credit Cards|
|Credit Cards in India||Document Required||What is Credit Card?||Credit Card Numbers|
Cash remains the preferred choice of payment for most of us. However, going cashless is a better option. We’ll tell you why. If you agree, explore our offers right away.
Tired of queuing just to withdraw money to pay for your food delivery? How about paying online using your Credit Card, Debit Card or any digital wallet the next time?
Getting paid via cheques is a headache. In a cashless society, you don’t have to go to the bank to deposit the cheque or wait for cheque to be credited. Quick money, it is!
Au Revoir, Risk
When you go cashless, there is less risk as compared to carrying a lot of currency notes in your wallet or bag.
A cashless mechanism can help plug the loopholes in the public systems, prevent black money, smother grey economy and increase tax compliance.
Don’t you think cashless transactions are better than dealing with cash? Get yourself a Credit Card and make the move now.
The unexpected change in currency notes came as a surprise to some and sent them panicking for cash. But Credit Card holders laughed all the way to the bank, quite literally. Time to join them?
New Currency Notes
We have new Rs. 500 currency notes which are an interesting shade of stone grey. And, we have a new denomination with a magenta colour Rs. 2,000 note.
Same Information With A New Placement
The guarantee clause, governor’s signature, the Promise clause and the RBI emblem. Now right-aligned. On the front of the note, the denomination is printed in colour-changing ink. It changes from green to blue! Wow!
New Theme and Text
On the front of the new notes, there is an image of the Ashoka Pillar on the right corner. A new heritage sites theme. The denomination is also printed in devnagari script. That’s new, huh?
New Shapes To Identify Notes
The new Rs. 500 note has a circle shape above the Ashoka Pillar on the front. The Rs. 2,000 note has a rectangle shape on the front to help identify it.
While the new currency notes sound interesting, cashless is the way to go! Find your prefect plastic mate!
American Express Gold Card:
American Express MakeMyTrip Card:
American Express Platinum Travel Card:
American Express Platinum Reserve Credit Card:
Axis Bank Privilege Credit Card:
Axis Cards – Neo and My Zone:
HDFC Bank Regalia Card:
HDFC Bank Regalia First Card:
HDFC Bank Diners Premium Card:
HDFC Bank Diners Rewardz Card:
HDFC Bank Money Back Card:
IndusInd Jet Airways Voyage Cards:
IndusInd Bank Platinum Card:
HSBC Credit Cards:
All Citi Cards:
SBI Credit Cards:
SBI SimplySave Card:
Kotak Delight Credit Card:
A credit card is a plastic card issued by a bank that allows you to borrow money from the bank so that you can purchase whatever you want. May it be buying a meal from McDonald’s or a flight ticket to Switzerland, you can use your credit for anything that you like. As long as you repay the amount you borrow before the next billing cycle starts, you will not have pay any excess amount. In case you do not pay the entire amount and decide pay in instalments, you will also have to pay the interest associated with it.
A Credit Card is the perfect way to go cashless. It can easily eliminate your cash crunch. Read on to find out how. You would rather check out our Credit Card offers? Go on…Food
Eat out every day? With HDFC Bank Platinum Times Credit Card, you get 10 points for every Rs. 150 you spend on dining on weekdays.Travel
Short of cash for fuel? The IndianOil Citi Platinum Card can help you save over 5% on the fuel cost if you fill fuel at IndianOil outlets.Paying Utility Bills
Skip that queue for your power bills! Citi Cashback Card gives you 5% cash back on all your utility bill payments made online through Citibank’s Online Bill Pay service.Buying Groceries
Go grocery shopping online. Get 10 points for every Rs. 100 you spend on grocery shopping with the SBI Simply Save Credit Card. The best part? It applies to all departmental store shopping trips too.
Use both your e-wallet and your Credit Card to save big!
There are 16 digits on every credit card. The very first digit present on a credit card signifies its system. 3 stands for travel or entertainment car, 4 stands for Visa card, 5 stands for MasterCard and 6 stands for Discover Card.
The card number structure varies by the system. For example a Diners Club card will start with 38, whereas, the American Express cards will start with 37.
American Express – The third and fourth digit specify the type and currency. Starting from the fifth digit till the eleventh digit is the account number. From the twelfth digit till the fourteenth digit is the card number within the account. The fifteenth digit is a check digit.
Visa – From the second digit till the sixth digit is the bank number. From the seventh digit till the twelfth digit or from the seventh digit till the fifteenth digit is the account number. The thirteenth digit or the sixteenth digit is the check digit.
MasterCard – The second and third digit, the second digit up to the fourth digit, the second digit up to the fifth digit or the second digit up to the sixth digit is the bank number. This depends if the second digit is 1,2,3 or anything other than that. The digits after bank number up to the fifteenth digit are the account number. The sixteenth digit is a check digit.
It is very easy to use a credit card. When banks issue a credit card, they create a revolving account for that card. Once the customers receive their credit cards, they can use it to make purchases on credit. This credit is actually the amount that cardholders have borrowed from the card issuer. They have to repay the outstanding amount at the end of every billing cycle. There is a limit on the amount of credit that one can use and cardholders should make sure they don’t exceed this limit.
To make payments using their credit cards, cardholders have to simply get their cards swiped at merchant stores and authenticate the transaction by entering their PIN number. Some credit cards do not require you to enter a PIN number. If you are using your card to make online payment, make sure the website is a secure one. Enter your credit card details on the checkout section and authenticate the payment by entering the PIN or OTP (One Time Password).
|Bank||Tenure (Min-Max)||Interest Rates for Regular Deposit|
|Ranges between 37.2% p.a. and 42% p.a.||Some cards have no joining fee. For others, the fee will be communicated at the time of application.|
|3.83% per month (46% p.a.)||Up to Rs.1,00,000 (the fee is different for different cards. Rs.1,00,000 is the joining fee for one card, which does not have an annual fee.)|
Kotak Mahindra Bank
|Up to 3.5% per month||Up to Rs.19,999|
|Up to 3.4% per month (Maximum charge in case of default is 3.5% per month)||-|
|Up to 3.25% per month||Up to Rs.30,000|
|Up to 3.5% per month (Maximum charge in case of default is 3.99% per month)||N.A.|
State Bank of India
|Up to 3.35% per month||-|
Note – The rates/fees and charges may be changed by the banks at any time.
Banks offer amazing features on their credit cards. These features vary depending on the card provider and the type of credit card that people purchase. Some of them are as follows:
Accepted Globally – Today, most credit cards that are issued in India are international cards and are accepted by various merchants all over the world.
Balance Transfer – Credit cardholders can transfer the outstanding balance of their existing cards issued by one bank to the credit card account of another bank. Doing so helps them in saving money and repaying the amount at a low rate of interest. Banks offer various balance transfer options to their cardholders, which allows them to repay the amount on a monthly basis within a tenure of their choice.
Instalment Payment Plan – Many banks offer the instalment payment option to their cardholders. This feature allows cardholders to convert their transactions into monthly instalments. Cardholders can choose the tenure for their EMI plan. Generally, these plans have very attractive interest rates. There are some banks that offer 0% instalment payment plans to their customers.
Loans on Credit Cards – Some credit cards offer pre-approved loans to their holders at low interest rates.
Utility Bill Payment – Credit Cards have made it easy and quick for people to pay their utility bills. Using their cards, cardholders can pay all their utility bills online at one go.
Alerts – Credit cardholders receive bill payment reminders via SMS and e-mail from their banks every month, which helps them in not missing out on their monthly payments.
E-statement – Most banks today provide e-statements to their credit cardholders at the end of every billing cycle. Cardholders can access this statement at any time online.
Joining Fees – When customers apply for a credit card, they have to pay a certain amount for enrolment, known as the joining fee. There are certain cards that do not have any joining fee as well.
Annual Fees – Every credit cardholder have to pay a fixed amount to renew their card every year. This amount is called the annual fee or renewal fee. This amount varies depending on the card that a person opts for. Some banks waive this fee for their customers for a period of minimum 1 year as benefit for achieving certain spends milestone.
Lifetime Free Card – There are some banks that offer lifetime fee credit cards, which means cardholders do not have to pay any annual fee for these cards.
Lost Card Liability – Many banks offer lost card liability coverage to their credit cardholders. This feature protects the cardholders from fraudulent transactions that made using their cards after they have reported its loss to their card provider.
Insurance Coverage – Some banks offer insurance protection on certain credit cards they offer. For example – travel insurance, life insurance, etc.
Cash withdrawal facility – Credit cardholders can use their cards to withdraw money from ATMs. Banks charge a small fee for the service and cardholders can instantly avail money in any part of the world.
24x7 Customer Care Service – Banks offer 24x7 customer care service to all their credit card holders. Some banks have a separate helpline number for their cardholders. Cardholders can contact on this number to get any assistance related to their card. For example – They can contact the department to avail concierge services, make card replacement requests, report loss of cards, etc.
Credit Card Bill Payment – Banks allow their credit cardholders to pay their credit card bills online and offline. Cardholders can use NEFT, Internet Banking, Cash, Cheques, etc. facilities to pay their bills.
Welcome Gift – Many banks offer a welcome gift to new credit card applicants once the card is issued to them. This gift can be in the form of bonus points, gift vouchers, discounts, etc. The welcome gift differs depending on the card and the bank.
Rewards Program – All credit cards generally have a reward program, which allows cardholders to earn reward points on every transaction they make using their cards. The amount of points that cardholders can earn per transaction is fixed and differs from card to card. The points that card members collect can be redeemed for various gifts that are listed in the rewards catalogue of the cards. These gifts can be discounts, product, services, cashback offers, etc. Some credit cards allow card members to redeem their points against air miles and cash as well.
Fuel Surcharge Waiver – Many banks offer fuel surcharge waiver to credit cardholders when they spend specific amount of money on fuel every month. This offer is available on fuel transactions made at all Indian petrol bunks.
Cashback Benefits – There are certain credit cards that offer cashback benefits to the customers. The amount of cashback that will be offered depends on the provider.
Lifestyle Benefits – Cardholders can enjoy various lifestyle benefits on their credit cards. Lifestyle benefits include dining, shopping, golf, wellness, entertainment, etc. privileges.
Travel Benefits – This is one of the major reasons for credit cards being so popular among people. There are some credit cards that offer amazing travel benefits to the customers. Travel benefits include air miles, airport lounge access, travel insurance, airline offers, hotel offers, etc.
Airport Lounge Access – Some credit cards offer complimentary airport lounge access to the cardholders. The offer varies from one bank to another. Some banks put a limit on the number of visits, while some others allow access only to Indian airport lounges.
Exclusive Privileges from Visa/American Express/MasterCard – Visa, MasterCard and American Express are three popular and recognized credit card variants. Depending on the variant of your card, you can enjoy exclusive lifestyle, travel, etc. offers from MasterCard/Visa/American Express.
Add-on Cards – Many banks allow their credit cardholders to apply for add-on cards for their immediate family members. Most card issuers offer add-on cards for free, but some of them limit the amount of add-on cards that one can apply for. Cardholders can enjoy all the privileges of their primary cards on their add-on cards.
Air Miles – Certain credit cards such as travel or Airline cards offer Air Miles to their customers. These miles can be JPMiles, Air India Air Miles, etc. Cardholders can collect these miles and redeem them to avail flight tickets and other travel benefits.
Most credit cards provide a grace period to the cardholders. Grace period is the time given to credit cardholders to pay off their credit card bills without incurring any interest on the outstanding amount. Grace period is also known as interest free credit period. The time period varies depending on the banks and the type of card. Generally, banks provide a minimum grace period of 20 days to their cardholders, starting from the day they receive their credit card bills. In India, most banks offer a maximum grace period of 50 days.
|Bank||Rewards||Annual Fee (varies depending on the card)|
|Citibank||Travel Rewards – Up to 10 miles per transaction. Up to 10,000 bonus miles a year. Reward Points – Up to 10 points per transaction. First Citizen Points – Up to 7 points per transaction. Turbo Points – Up to 4 points per transaction Cashback – Up to 5% cashback on transactions.||Up to Rs.20,000|
|IndusInd Bank||Reward Points – Up to 4 points per transaction. SpendMiles and PartnerMiles – Up to 3 per transaction. JP Miles – Up to 75,000 Miles a year. FlightMiles – Given based on the percentage of the ticket price. Savings Point – Up to 4 points per transaction.||Up to Rs.4,000|
|Kotak Mahindra Bank||Reward Points – Up to 10 points per transaction. Saving Points – Up to 10 points per transaction. Dining Points – Up to 10 points per transaction.||Up to Rs.5,000|
|HDFC Bank||Reward Points – Up to 8 points per transaction. More than 2,880 bonus points a year. JPMiles – Up to 30,000 Bonus Miles. Up to 18 miles per transaction. JP Tier Point – 1 point on reaching certain milestone. Amazing Cashback and Discount offers on certain cards.||Up to Rs.10,000|
|Axis Bank||Reward points – Up to 20 points on spends. eDGE Reward Points – Up to 20 points on spends. CV Points – Up to 6 points on spends. Award Miles – Up to 6 miles on spends.||Up to Rs.30,000|
|American Express||Membership Points – 1 points for transactions. Up to 11,000 bonus points on joining. PAYBACK Points – Up to 5 points on transactions. JP Miles – Up to 16 miles on transactions.||Up to Rs.50,000|
|State Bank of India||Reward Points – Up to 20 points on transactions. Up to 1,00,000 bonus points a year. Empower Points – Up to 500 points on achieving milestone.||Up to Rs.4,999|
Note – The above mentioned fees can be changed at any time by the banks. With regards to the rewards section, only the top rewards have been mentioned in the table. The banks offer other rewards besides these on their cards such as discount offers, cashback offers, etc.
Proof of Identity/ID proof – Applicants can submit one of the following documents as ID proof:
Proof of Address - Applicants can submit one of the following documents as address proof:
Proof of Income – All the applicants have to submit their income proof when they apply for a credit card. Salaried individuals have to submit the following documents as proof:
Apart from the above mentioned documents, banks can ask the applicants to submit other documents, if required.
The eligibility criteria for credit cards differs depending on the card you are applying for and the bank providing it. Most banks require the applicants to be at least 18 years old and earn a certain amount of income annually to apply for a card.
BankBazaar has made the process of comparing and applying for personal financial products very easy. The website has a user-friendly interface that allows people to navigate easily without getting confused at all. There are many reasons for applying for a credit card through BankBazaar. Some of them are as follows:
Simplifies the application process – BankBazaar has simplified the credit card application process for Indians. Now, you do not have to visit the bank’s outlet or every bank’s website to compare cards and then apply for them. You just have to make a few clicks and you can get the same done online on BankBazaar website in no time.
Compare – Before buying any personal finance products, it is advisable that you compare them. The process of comparing these products can be tedious and a lot of people tend to avoid it, which leads to them buying products that do not benefit them. To solve this problem, BankBazaar introduced a platform where people can compare credit cards offered by different banks online at one place. This not only helps them in making an informed decision, but also in getting the best credit card available in India.
Apply – After comparing the credit cards, you can easily apply for the card you like on BankBazaar’s website itself. You can find the cards you are eligible for easily and then click on the ‘Instant Apply’ button that is present next to the card of your choice. You can then fill up the application form and submit it online and within 30 minutes you will get a response.
Information – On the website of BankBazaar, you can find every single detail about credit cards. Besides this, the site also provides you with the latest credit card news and keeps you updated about the happenings in the Indian financial market.
24x7 Support – Apart from the above, BankBazaar provides 24x7 support to all its customers throughout the year.
Credit Cardholders can choose to convert certain transactions of theirs into monthly instalments. Card providers allow customers to choose the repayment period for their EMI (Equated Monthly Instalment) plans. Some banks nowadays offer 0% interest instalment payment plans to their credit cardholders. According to this plan, no interest is charged on the monthly instalments, which means cardholders have to pay the principal amount in parts within the tenure they have chosen.
Some banks charge a low interest rate on the EMI plans of credit cards. In this case, the EMI amount comprises of the principal amount and the interest rate. So, every month cardholders are supposed to repay this amount, until they clear off their debt. They can calculate their instalment amount per month before applying for the plan by using an EMI Calculator online. This calculator will help them in figuring out how much they will be paying every month if they opted for a certain EMI plan. To use the EMI calculator, they have to simply enter details like the interest rate, principal amount and the tenure in it.
Banks charge a particular percentage as the interest rate on the borrowed amount and this is applicable if the monthly outstanding amount has not been repaid by the card holder. The interest rate is calculated as the Annual Percentage Rate (APR) and always depends on the type of credit card held. The applicable finance charges are determined on a monthly interest rate percentage and is generally calculated on the average daily balance basis for credit cards. While picking up a credit card, customer can always compare the APRs offered on each card and then choose according to their requirements. Customers who can make regular monthly repayments, can choose credit cards with rewards programs and travel loyalty programs. These type of credit cards tend to have a slightly higher APR. If a customer is looking for flexibility with regards to payments and mainly for purchases, then a credit card with a lower APR should be taken. The APR is always determined based on the applicant’s credit score by any financial institution. All banks offer an interest free period ranging from 20 to 50 days to credit card holders as an additional feature.
Of course, the million dollar question. While the mechanics of using a credit card on a day-to-day basis isn’t too complicated, the associated back-end process associated with a simple card swipe is too technical for a common individual to comprehend. In actuality, the procedure is very simple and safe-
Borrowing from a popular axiom, ‘With great power comes great responsibility’, and the same holds very true in the case of credit cards. While a handy financial help, a source of ready cash and a safe and beneficial way to pay for your purchases, the misuse of this facility could be detrimental to your long term financial health. Credit card debt, defaulting on your monthly repayments or drawing up a massive pile of credit card purchases and consequently, a stiff interest rate are things to be constantly aware of. The best way to enjoy your credit card is responsibly and with caution and tolerance. While the temptation may be high to unleash a shopping spree with your brand new credit card, remember, the money you spend is not your own- it must be returned back, with interest and on time!!
A credit card can be used to purchase services and goods on borrowed credit from the bank that has issued the card. Every credit card comes with various privileges and benefits to suit the lifestyle of a customer.
Premier credit cards are signature cards from banks which come with flexible spending limits, lifestyle privileges, travel benefits, cashback offers, VIP lounge access, concierge services emergency assistance and complimentary insurance cover. Most premium credit cards can be procured only through invitation.
The cashback that is earned by a customer can be automatically got as statement credit from the bank.
A secured credit card is generally issued against a fixed deposit, which has been placed by the customer while availing the card. Any minimum amount due or late payment fee that has to be paid will be taken from the deposit. Secured credit cards help customer build a good credit history
A prepaid credit card works like a debit card, where the money is taken from an account associated with the card. Users can load cash on the prepaid credit card and can spend up to the available amount limit on the card.
Business credit cards come with features like business savings plans, rewards programs, cash advance facility, lounge access and customers can also get their company name embossed on the card.
Any customer should select a credit card according to his everyday needs and lifestyle requirements. The privileges offered with a particular credit card should be beneficial and should add value to a customer.
A credit card can be procured by an individual with a regular income and also having a good credit score. Most banks mandate that applicants should be above a certain age limit and should also meet a stipulated income criteria.
The minimum requirement to be met while applying for a credit card would be the age criteria. According to the bank, the age criteria varies from 18 to 21 years for a credit card approval to be got.
Customers can easily consolidate multiple credit card balances onto a single card and repay back with flexible tenure options at low interest rates.
Yes, most banks generally levy a certain percentage as processing fee, when a balance transfer on a credit card is done. The processing fee varies with different banks and customers have to pay this amount with the first monthly instalment.
Credit card holders can refer to their monthly statements to get the available credit limit. The other options offered to customers are via SMS banking or internet banking services. All banks provide these facilities, where customers can check the available credit by sending an SMS and receiving an alert or by accessing the statements on their internet banking accounts.
When a credit card balance transfer is done, every bank offers an interest free introductory period to the credit card holder. This interest free payment period ranges from 3 to 6 months after which the card holder has to repay the instalments with an additional interest rate.
A credit card can be used to purchase goods, book travel tickets, perform online transactions and also make reservations for services.
Yes, there are various co-branded credit cards available in the market from different card issuers. The privileges available in a co-branded credit card are generally determined by the issuing bank.
Yes, most banks give the option of increasing the credit limit available based on the usage pattern. Sometimes the banks might automatically increase the credit limit after reviewing the customer’s spending pattern. Otherwise if a cardholder wishes to increment the credit limit, then a special request has to be placed with the concerned bank.
The purchase introductory rate is the low interest rate that is offered during the first few months of the credit card usage. This introductory rate is generally given to customers with good credit scores. These rates might be applied only to purchase transactions or balance transfers done by the card holder.
Yes, most credit cards come with preset cash withdrawal limits, which is generally communicated by the bank to the customer at the time of approval. Banks might also levy additional withdrawal charges on every transaction done at an ATM within India or abroad.
A credit card is a payment card issued by a particular bank for customers looking to avail instant credits to easily purchase goods and services without spending a single penny from their pockets. The bank extends a line of credit with which the user borrows money, to be paid to a merchant. The cardholder is required to pay back the borrowed sum of money subsequently to the lender bank along with extra interest rates.
Customers need to get in touch with an executive from a bank of their choice and submit a filled-in application form with the required documents. The bank will process your application after appraising your credit history and will then approve the new credit card according to your requirements.
In India, banks charge the highest rate of interests for credit cards, from 36% to 42% per annum. A bank decides the interest rate for a particular customer based on his credit history, financial capability and also depending on the type of card he chooses. Applicants with good credit scores and regular payment patterns get the best deals on their credit card interest rates.
Banks in India have tied up with Visa, MasterCard and American Express (AMEX) to process credit card payments, connecting merchant accounts with the acquiring banks.
In India, banks generally offer credit cards to individuals above the age of 21 and with a steady monthly income. As part of their verification process, banks do a deep dive into the customer’s credit history and assess previous payment patterns to understand the customer’s financial situation. Only after ensuring that the applicant has the financial capability to repay the expenses incurred using a credit card, will the bank approve the customer’s application.
Yes, in India applicants are required to earn a minimum of Rs 75,000 to 1 Lakh per annum, though this criterion varies depending on the type of the card.
Annual Percentage Rate (APR) or the ‘’cost’’ at which a customer takes credit from a bank, is the simple interest rate charged by a bank on expenses incurred on a credit card for a year.
The best mantra while managing a credit card is to ‘’Pay as and when you can”. Delaying a credit card payment is not a wise option, as banks tend to impose high late payment fees and gradually increase the interest rates charged. The customer would actually end up paying way more than his original purchase amount.
Add-on cards can be taken for family members of the primary card holder with extra charges anywhere between Rs 125 to Rs 1000. The credit limit of the primary card gets carried over to the new card with similar features. Also customers can get a comprehensive bill with details of both the cards.
Global credit cards give a customer the leeway of instantly performing cashless transactions from any corner of the globe. Accepted worldwide, global cards give you the flexibility of spending in any foreign currency and later paying your bills in your local currency. A customer can also avoid the hassle of carrying huge amounts of cash or using traveller’s checks.
Credit card reward programs have been introduced by lenders to popularize the various cards they offer by rewarding a customer for transacting using their credit card. The cardholder is awarded points as per his expenditure for purchasing goods and services. The accumulated points can later be redeemed by customers for certain discounts and gifts as per the bank’s guidelines.
The Reserve Bank of India mandates the provision of multiple levels of authentication from banks, for customers using credit cards to make an online purchases. Additionally, customers are advised by banks to use their credit card credentials only in encrypted internet connections to avoid fraudulent transactions.
Customers can also use their credit cards as ATM cards and withdraw a stipulated amount of cash, preset by the bank as cash advance. Though this feature gives a customer access to instant cash, the bank charges very high interest rates for credit taken using this facility.
A. Customers can make outstanding credit card bill payments using the following online modes - Net Banking, NEFT / RTGS Transfers, Debit Cards, Mobile Applications, Standing Instructions, Visa Money Transfer, Bill Desk, etc. Offline modes include cash, cheques, demand drafts, etc.
Use your Credit Card wisely to positively impact your Credit Score. Paying only the minimum due, maxing out your credit limit, skipping payment due to a dispute and multiple rejected applications affect your Credit Score negatively. Avoid these and your Credit Score will thank you for it. Ready? Check out our Credit Card offers!
If demonetisation made you get your first Credit Card, you’re probably still wondering how to use it well. Here are some useful tips for all you beginners. Interested in a second?
Stay Within the Budget
Owning a Credit Card doesn’t mean that you go overboard. Make sure you stop swiping as soon as you cross your budget.
Don’t Cut Corners
Your Credit Card bill will give you the option to pay a minimum amount or the full amount. Pay the full amount. Making part payments will attract interest on the unpaid amount.
Stay Within your Means
Banks consider your finances thoroughly before setting your credit limit. Don’t ask for an increase until there is a marked increase in your income.
Credit Cards give you the option to withdraw cash from ATMs. Don’t consider it unless it’s an emergency as the interest on withdrawals is high.
Using a Credit Card is very simple. If you still don’t have one, don’t hesitate. Apply now and you’ll learn the advantages as you go along.
Check out these exquisite yet inexpensive honeymoon destinations in India. However, don’t forget to carry your Credit Card for emergencies. If you don’t have one, you can apply right away.
Kudle Beach, Gokarna, Karnataka
Think beaches, a shack where you can’t escape each other and some fantastic coastal food. Affordable, of course! Start by applying for a Yatra SBI Credit Card and get gift vouchers.
If Gokarna is too simple for you, you can head to Kovalam - another beach destination. Think Ayurveda-wellness spa, romantic boat ride and some lip-smacking coastal cuisine. Make it all better with the American Express MakeMyTrip Credit Card to get discounts, cashback and gifts.
A beautiful valley hill station nestled in the state of Uttarakhand is a perfect getaway for nature lovers. It’s a good option to drive to the location and with an Induslnd Bank Platinum Aura Edge Credit Card - you’ll save a great deal on fuel.
Dal Lake, Jammu and Kashmir
Visiting this place is like a dream come true. Many songs and poems have been written about the beauty of the sprawling valleys of J&K. But we suggest you pack the Kotak Delight Credit Card with your luggage to get 10% cash back on your dining and movie spends.
You can visit all these places and many more at an affordable cost. And, with a Credit Card in your pocket, you can get your sweetheart all that she/he wishes during this getaway.
Haven’t got your Credit Card yet because you think it is unsafe? Allow us to change your views. Or are you looking for the one that best matches your profile? Let’s help.Set Limits
Banks allow you to set geographic limits to use your card. There is no chance of your card getting used in Timbuctoo by a hacker.On And Off
Banks provide you with apps that you can use to block and unblock your card. It’s as easy as switching on and switching off your television.Fix a Number
You can fix a daily transaction limit for your Credit Card. This way, you can lend your card to the most irresponsible of your friends without worrying about misuse.Place Restrictions
You can choose merchant categories that your card can be used at. Great way to curb that shopping impulse that your spouse has, eh?
Now that security is sorted, shall we take a look at your offers? We have plenty of them!
What’s the fuss all about, huh? Let’s show you why.Reward #1
You can save up to 10% on your regular expenses including phone bills. Pile it on.Reward #2
Get free movie tickets by swiping your cashback card regularly. More spending = More moviesReward #3
Get up to Rs. 10,000 off on hotel bookings. Costless travel? Hell, yes!Reward #4
Most cashback card issuers offer free joining reward points. More points mean more goodies.
Go on, explore our myriad cashback cards and take home one you love.
Shop Better With a Credit Card
Shopping gets better with a Credit Card. You can get rewards, choose to pay in EMIs, get cashback and save money with great discounts. Still looking for a Credit Card?
There are so many Credit Cards that give you amazing rewards when you shop. Why do you need cash?
Haven’t got enough cash for that purchase? With a Credit Card, you can choose to pay in installments that are easy on your pocket.
Credit Cards also give you cashback discounts. Are you still waiting to start shopping?
If you shop with a Credit Card, get ready to enjoy discounts on online shopping websites. Shop more, save more.
Credit Card Shopping Checklist
Credit Cards are a convenient financial option if you don’t want to carry too much cash with you on that shopping spree. Here are a few factors to consider when you choose your perfect Credit Card.
Interest on your Credit Card is charged on a yearly basis. It is a fee that you pay for using the card. It’s a good idea to opt for a card with a fixed interest rate that remains the same every month.
Credit Cards have an annual fee that is charged to the cardholder. Some charges that are included as a part of the annual fee are late payment charges, cash advances, any requests for increased credit limit and balance transfer.
A grace period is the number of days you will get to pay your Credit Card bill after the due date. The grace period is usually 30-50 days to clear any outstanding dues.
Credit Cards come with an ATM PIN so that you can get cash through your Credit Card from an ATM. But, remember that cash withdrawals on your Credit Card attract high interest rates.
Have you found a Credit Card that suits you yet?
If you are not in India, have no fear. Bankbazaar is present in other countries as well. You will now be able to read about and compare Credit Cards in Singapore too. Credit cards are among the many financial products on offer in Singapore and they bring a host of features and benefits to you. If you are in Singapore and are looking for a credit card you can learn more about them on our Singapore site.
Credit Card on your mind? Find out if you are eligible. Higher the income, higher is your eligibility. Poor credit history makes you less eligible. Age matters. Minors and senior citizens are less likely to get one. Your eligibility increases if you are working for a reputable company. There are several types of Credit Cards: Airline Credit Card (Free Air Miles for those who love travelling), Shopping & Cashback Credit Card (Exclusive offers and rewards for shopaholics), Premium Credit Card (Luxurious offers for entrepreneurs/self-employed individuals), Lifestyle Credit Card (Exciting rewards and offers in diners, movie theatres and other shopping outlets) and Fuel Credit Card (Fuel surcharge waived and turbo points for those who drive a lot). Wondering which documents you’ll need handy? Keep these ready: Photo ID for identity proof, Signed application form with photograph, Residence proof and Proof of income. If you are a salaried applicant, you will need: Salary payslip for the last 3 months, Letter of employment and Salary Certificate. If you are self-employed, you’ll need: Latest Income Tax Returns, CA Certified / Audited Balance Sheet and Profit & Loss Account and Business Continuity Proof. Well, you are now ready to own a Credit Card. Go ahead and find your perfect plastic mate, right away!
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22nd August 2016
The Credit Information Company (CIC) TransUnion CIBIL, recently conducted a survey on Indian Credit Card customers and found that 78% of them prefer to pay their monthly Credit Card bill in full, this trend has led to an all-time low delinquency rate. The survey covered 1,100 customers across eight metro cities. India also tops the ranks for customers who prefer to pay an amount above the minimum monthly due, approximately, 92% of Indian Credit Card holders prefer to pay amounts higher than the minimum monthly due. The survey also estimated that nine out of ten credit card users are aware of the impact of delinquency on the CIBIL score. The trend data can improve the risk assessment for lenders and will provide better opportunities to customers with low risk profiles.
18th April 2017
India is embracing the applications of various technologies at a fast pace. This will result in digital transactions becoming the common mode buy and sell things. Biometric modes and mobile wallets will prove to be the fittest in the struggle for existence, whereas, debit cards, ATMs and credit cards will soon fade away.
According to Amitabh Kant, the CEO of Niti Aayog, technology will be the factor that drives India’s growth. This was stated by him at the launch of TIFS (Trade and Investment Facilitation Services). He added that regulations that affect the inbound investments will be dismantled soon by India in order to globalise.
6th April 2017
RBI has said that on April 1, 2017, payment systems like NEFT and RTGS will be shut. Credit and Debit cards will work normally. Earlier, RBI had said that all the payment systems will work on April 1, but now it has changed its decision.
6th April 2017
Paytm, one of the most popular e-wallets used in India, has announced that it will begin levying a 2% fee on all wallet recharges made using credit cards.
The company further stated that wallet recharges made using net banking or debit cards will not be charged any fee.
The reason behind this move, according to sources, is to prevent the misuse of the free transfer, as users were using their credit card to transfer money to the wallet, after which they were transferring the money back to their bank accounts. As Paytm does not levy a transaction fee for transfers made from the wallet to a bank account, users avoided the transaction cost usually associated with this process.
A number of users were using this to rotate money at Paytm’s cost, as the company had to pay the transaction costs for multiple transfers.
Paytm has stated that it will continue to provide the same cashback amount for wallet top-ups made using credit cards.
16th March 2017
After demonetization it was predicted that the transition back to Merchant Discount Rates (MDR) would be difficult, the charges on payment by debit/credit card for oil also saw some changes. The government announced the roll-back of the fees levied purchase of fuel, but was unclear as to who would undertake the expenses. The government has decided to transfer these expenses onto Oil Marketing Companies (OMCs). This move is good news for dealers who have been protesting having to pay MDRs in spite their low margins, but as two major OMCs are public listed companies whose shares are publicly traded, this move might burden shareholders in these companies.
9th March 2017
Prior to demonetisation, transaction charges on expenses under Rs.2,500 were waived by the government until the 31st of March. The deadline is now expected to be extended by a year. Interest charges on credit cards are also expected to be capped by the government in an effort to facilitate their wider usage as they move towards a cashless India. A number of stakeholders were involved in discussions with the government, including the RBI, to extend the exemption date. The announcement is expected to be made by the Ministry of Finance in the coming month.
01st March 2017
PayU India has ditched its preparations to launch credit cards. The idea has been replaced by the company launching a digital consumer credit product called LazyPay in the coming week. This is a product originally conceived by Citrus Pay that PayU acquired in 2016 for $130 million. LazyPay is deemed to give its users the option to pay for their online purchases at a later time. Jitendra Gupta, the Managing Director of PayU India stated that they are set to go live with LazyPay in the coming week, with 20 online merchants facilitating the option for consumers to pay later. He added that the company credit card plan was cancelled because of the non-feasible cost-structures. As a result, the firm has laid off about 60 employees who were originally intended to handle call centre and collections operations for the proposed credit card. He explained that while payments done via credit card do possess a success rate between 80-82%, with the remaining 20% drops happening because of issues related to infrastructure and network, the cost of customer acquisition also tend to be high. Gupta, also the founder of Citrus Pay further stated that LazyPay will in turn be a convenience product for the customer to make their payments later with a highly flexible credit line can extend anywhere from Rs 3,000 to Rs 2,000 to Rs 10,000. This will depend on the profile of the customer, and the firm has worked out several algorithms for dynamic, real-time underwriting based on over 80 different variables. The credit option will currently be made available to users on 20 online merchant platforms. This includes major players in the spheres of food delivery, grocery delivery and movie ticketing. Gupta reaffirmed expansion plans, stating that they will be adding about 1,000 merchants within the period of two months. LazyPay has been crafted as a deferred payment option, and subsequently does not need a separate license or regulatory approval, he added. The company is in nascent stages of partnership deals with several banks. Amrish Rau, the CEO of PayU India, said that the move to dump the credit card product while launching LazyPay also demanded the reallocation of several of the original project resources.
21st February 2017
Banks can now enjoy the ability to decide on bank service charges for transactions informed Santosh Kumar Gangwar, Minister of State in the Ministry of Finance. This announcement was made by the Reserve Bank of India to help the country ease into a cashless state in the wake of the demonetization drive.
While the RBI has removed interest rates on credit cards, the National Bank for Agriculture and Rural Development has favoured a scheme according to which merchants will receive an incentive worth 0.5% on payments that are made via the Aadhaar Enabled Payment System.
The RBI has regulated that customers will not be charged, by banks or any prepaid issuers, for transactions up to Rs.1,000 done on Unified Payments Interface, Unstructured service Data and Immediate Payment Service till March 3, 2017.
However, the apex banking organization has warned consumers using Virtual Currencies such as Bitcoins due to the kinds of security risks involved in using this method of payment.
13th February 2017
There’s been a major row for quite a while now between OMCs, the government, and credit card companies regarding who will pay every digital transaction cost for using cards for petrol.
Now, Petroleum Minister Dharmendra Pradhan has appeared to shed some light on this controversy and as suggested that the Reserve Bank of India is likely to postpone the reduce Merchant Discount Rate till March 31.
The reason for this discount, in the first place, is to attract more and more people to make digital transactions instead of paying through cash.
Honorable Minister Pradhan spoke about the issue after he met with Finance Minister Arun Jaitley and had a few things to share with the media.
He said that RBI is likely to reconsider the importance of digital payments so as to push for a cashless mode and that the extension of the MDR model is entirely in the governor’s hands.
The country’s central bank had decided to do away with any cess charges levied on digital or debit card payments from January 1 to March 31. This MDR payment basically includes the money that OMCs pay the government and stands at 0.25% for transactions up to Rs.1,000 and 0.50% fo transactions from Rs.1,000 to Rs.2,000.
7th February 2017
Credit card applications increased after notes of Rs.1,000 and Rs.500 were banned in November, 2016. Bank saw a fall in loan applications and a rise in credit card applications. State Bank of India gave around 1,15,000 credit cards in December. To avoid any problems and to assess the creditworthiness of the applicants, banks are depending more on credit report and scores. Credit card transactions had increased by 9.5% in November, 2016.