Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Credit Card - Apply for a wide range of Credit Cards on BankBazaar starting at 0 annual fees, offering many benefits such as Shopping, Rewards, Cashback, & Discounts.
Credits Cards helps you make transactions both online & offline and allow you to clear the balance within 50 days from the date of payment without charging any additional interest.
Apply for a credit card by comparing the best credit cards online. You can find credit cards offered by Top banks along with their features, benefits, fees, & latest offers, everything in a single place.
The lengthy string of digits printed on the front or back of your plastic or metal credit card is called a credit card number. It is used to identify both the credit card issuer and the account holder and is normally 16 digits long, frequently appearing in sets of four.
In an effort to reduce theft and fraud, credit card numbers are not generated at random but rather are coded to identify the issuer, the network, the account, and to confirm the entire number. A complicated routine must be followed for the credit card number to function.
Since there are many categories of credit cards, you may need help choosing the best credit card for you. Here is a list of the top ten credit cards and is based on the different categories they fall under.
| Credit Card | Category |
|---|---|
| RBL Bank BankBazaar SaveMax Co-branded Credit Card | Reward Points |
| FinBooster: YES BANK – BankBazaar Co-branded Credit Card | Reward Points |
| IndusInd Platinum Card | Fee Waiver |
| IndusInd Platinum Aura Edge Card | Lifestyle |
| SBI SimplySAVE Credit Card | Reward Points |
| HDFC Diners ClubMiles Card | Lounge Access |
| HDFC Freedom Card | Reward Points |
| Axis Bank Neo Credit Card | Shopping and Movies |
| HSBC Platinum Credit Card | Travel and Dining |
| Kotak PVR Gold Credit Card | Movies |
In India, a diverse range of credit cards caters to different needs and preferences. Some popular types include rewards credit cards, which offer points for purchases; travel credit cards, providing travel perks and benefits; cashback credit cards, giving back a portion of the purchase amount; premium credit cards with exclusive privileges; shopping credit cards with discounts and rewards at partner stores; fuel credit cards with cashback or discounts on fuel purchases; and business credit cards tailored for professionals and business owners.
Choosing the right credit card that aligns with individual spending habits and financial goals is crucial to maximizing benefits and rewards.
Credit Cards come with a range of features and benefits. They allow you to make online and in-store secure payments, build a good credit history, and have emergency funds available. You can earn rewards like points or cashback on your purchases, enjoy travel perks such as access to airport lounges and travel insurance, and get protection for your purchases with extended warranties.
Credit Cards also offer flexibility to pay off balances over time and provide fraud protection. Overall, they provide convenience and extra advantages for consumers.
| Welcome Gift | Many banks offer a welcome gift to new credit card applicants once the card is issued through Bonus Reward Points, Vouchers, Discounts, and other Benefits. |
| 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. |
| Fuel Surcharge Waiver | Banks offer a fuel surcharge waiver to the cardholders on spending a specific amount of money on fuel every month. |
| Cashback Benefits | Many credit cards offer cashback benefits to the customers. |
| Lifestyle Benefits | Cardholders can enjoy various lifestyle benefits on their credit cards, such as Offers on Dining, Shopping, wellness, Entertainment, and other Benefits. |
| Travel Benefits | Travel benefits of credit cards include air miles, airport lounge access, travel insurance, airline offers, hotel offers, and other Benefits. |
| Airport Lounge Access | Some credit cards offer complimentary airport lounge access to cardholders. The offer varies from one bank to another. |
| Add-on Cards | Many banks allow their credit cardholders to apply for add-on credit cards for their immediate family members. |
| Insurance Coverage | Some premier cards provide a comprehensive insurance policy that provides coverage against air accidents, life, lost baggage, lost card, outstanding, and other Benefits. |
| 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. |
| Global Acceptance | Today, most credit cards that are issued in India are international credit cards and are accepted by various merchants all over the world. |
| EMI Conversion | The feature allows the credit card members to convert their credit card transactions into easy monthly instalments (EMIs). |
| Credit Score | Owning a credit card helps you build a healthy CIBIL score. By making timely payments on your card and in full, you receive a positive credit score for credit bureau, CIBIL. |
To be eligible for a credit card in India, you typically need to be at least 18 years old and have a regular source of income. The income requirement varies depending on the type of card and the issuer. Having a good credit history and a positive credit score can also improve your chances of approval. You must provide identification, address proof, income proof, and other necessary documents when applying. Meeting the eligibility criteria doesn't guarantee approval, as the credit card issuer may consider other factors.
| Eligibility Criteria | Requirement |
|---|---|
| Nationality | Indian |
| Age | 18 years |
| Employment status | Salaried or Self-employed |
| Income | Depends from one bank to the other |
| Credit Score | Good credit score (700 and above) |
When applying for a credit card, the documents required may vary depending on the issuer. However, generally, you will likely need to submit the following documents:
You can apply for a credit card, both online and offline.
Step 1: Choose the Right Credit Card
Step 2: Apply for the Credit Card
Step 3: Activate and Set Up the Card
You can Compare & Apply for a Credit Card on BankBazaar by Following 4 Simple Steps:
Step 1: Compare credit card offers.
Step 2: Select from the top cards offered by leading Indian banks.
Step 3: Check your eligibility by entering a few personal details.
Step 4: Enjoy instant approval online after filling out your application form.
Alternately, you can also apply for a card online on the bank’s website by following these steps:
Step 1: Go to the official website of the bank that offers the credit card you're interested in.
Step 2: Look for the 'Credit Cards' or similar section on the website.
Step 3: Once you're in the credit cards section, click on the 'Apply' button.
Step 4: Fill in your personal information, such as your occupation, mobile number, monthly income, and PIN code.
Step 5: Select the credit card you prefer and see if you meet the eligibility criteria mentioned by the bank. If you're eligible, proceed with the application. Enter your name, email address, date of birth, employment details, residential address, and PAN (Permanent Account Number) as requested.
Step 6: You will receive a One-Time Password (OTP) on your mobile number. Enter OTP to verify your mobile number.
Step 7: After completing all the required details, submit the application.
You may receive a call from the bank or NBFC (Non-Banking Financial Company) to discuss the next steps. They may suggest a time and place to complete the physical documentation process.
Remember that if you don't meet the credit card eligibility conditions or if you've applied for a credit card from the same bank in the last 6 months, your application may be rejected. Take the time to review the terms and conditions and maintain a good credit history to improve your chances of approval.
BankBazaar offers an end-to-end application process, wherein you can browse through most of the credit cards offered by various banks, compare and apply for the best credit card in just a few clicks.
Let's look at the perks that we offer for applying for a credit card through us.
The following are some of the important tips on how to use a credit card:
If you have more than one credit cards, ensure you are using the right one based on your needs. For instance, use a travel credit card if you spend a considerable part of your income on travel such as booking flight tickets, hotels, and more. This way you can earn reward points.
One of the best ways to use credit cards is converting your purchases into EMIs and repay the bills as per your convenience.
Many lenders allow its credit card users to convert their unutilized credit limits into personal loans at a nominal interest. This helps credit card users to meet their urgent needs in no time.
Credit cards offer 2x reward points when you purchase online.
Banks allow its credit card users to redeem their reward points to get discounts on hotel bookings, flight tickets, etc. These reward points provide exclusive shopping vouchers, cashbacks and recharge voucher to the users.
Shopping Credit Cards are typically affordable with an annual fee starting from Rs. 500. The benefits offered on the cards including the welcome gifts, reward points, deals and discounts, etc., revolve round the shopping category.
Lifestyle Credit Cards typically come with a high annual fee and joining fee, which of course, is worth spending for the privileges offered by the cards. Some cards also have low or no annual fee and are designed for low-income group individuals.
Fuel Credit Cards provide accelerated reward points on fuel spends, fuel surcharge waiver facility, reward points redemption against fuel purchases, and other value back benefits, enabling users to keep fuel costs under check.
Rewards Credit Cards offer accelerated rewards on most of the spending categories. Credit card issuers provide a wide variety of redemption options ranging from gifts to air miles to cashback.
Cashback Credit Cards offer cashback, cash rebates, and other money-saving benefits on most of the credit card spend.
Mostly providing air travel benefits, Travel Credit Cards are best suited for frequent travellers. The features and services offered on the cards revolve around air travel.
In India, you cannot transfer money directly from your card to other bank accounts. However, you can always use third-party websites and apps to do the same. You can transfer money to other bank accounts using your debit card. This can be done via net banking and mobile banking.
The reward point system of credit cards allows you to earn reward points every time you spend on different purchases. The accumulated reward points can be redeemed for merchandise, air miles, gift vouchers, or cash. The reward points have an expiry date and the minimum points needed for redemption differs from one card to another.
Generally, the rejection of your application for a credit card will not directly impact your CIBIL score. Your CIBIL score is largely affected by default in payments and an unstable income source. You can always reapply for a new card once you have understood the reasons why your credit card application was rejected the first time and rectify the same. This can be done by paying off all dues.
A Credit card statement or (credit card bill) is generated every 30/31 days. The bill generation date depends on the date on which the card is first issued, and the same date will be followed for the subsequent months.
Besides the bill amount, which is also called the outstanding amount on the card, the statement also provides a detailed history of all the transactions conducted during the billing period.
It also reflects the total credit limit, available credit limit, cash limit, due date, and other related information. The statement is typically mailed to the cardholder’s registered e-mail address every month. However, if the total outstanding balance is less than a certain cut-off, say Rs. 200, no statement will be generated.
Fraudulent credit card transactions are very common in today's world. Through credit card skimming, phishing, and vishing, your credit card information can be stolen and used without your knowledge. You need to be very alert about any suspicious emails and calls that you may receive. You have to report any fraudulent credit card transactions to your bank at least within two days of the event happening. A few banks also allow you to block your credit card online. Keep in mind that with the growing cases of cybercrimes, you need to be very careful as to where and to whom you give your credit card information.
Credit cards are an essential financial tool enabling holders to make purchases and have the luxury of paying back later. A credit card comes with a bank-approved credit limit, and the holder must pay back the amount due on the due date, which the bank and the holder mutually decide.
Yes. You can apply for a credit card online once you go to the website of your preferred bank, or you can conveniently compare options and apply for one on BankBazaar.
The renewed card usually has the same number as your expired card, but the new card's CVV (Card Verification Value) number is differs.
If you already have a credit history, you can check your eligibility, choose a card that suits your lifestyle needs and apply for it on BankBazaar. If you do not have a credit history, you can opt for a secure credit card, usually offered against fixed deposits.
A credit card gives you a line of credit; you can use this to make balance transfers, purchases, and cash advances. You will have to pay back the amount by the date specified by the bank. When using a card, you must remember the minimum payment made every month by due date
The credit limit is the maximum amount one can spend on their card. Having a high limit for credit cards allows you to spend more, which will help your credit scores.
You do not have to use your credit card every month, but you must use it often to avoid the bank labeling it as an inactive account.
A credit score above 750 is ideal for getting a credit card.
Even if you do not have a job and have a substantial cash inflow into your account every month, you are eligible for a credit card.
Yes. Due to the online application system, your credit card application could be approved in one day. However, you will not get the physical credit card in one day.
Yes. Many credit cards come with access to domestic and international lounges at airports.
Yes. Most credit cards come with a reward point system, where you earn points every time you spend money. You can redeem these points for vouchers, cashback, or air miles.
The number one should own is not fixed. It depends on your financial ability and your spending behavior. However, ensure to manage all the cards correctly.
Credit scores above 750 are generally deemed suitable for credit card approvals. Scores below 750 are usually considered poor, and approval may be subject to providing security (collateral such as fixed deposits).
The best and easiest way to get a credit card is to apply for it on a platform like BankBazaar. You can compare the features, benefits, fees, interest rates, etc., and choose a card that best suits your needs.
No. You don't have to pay interest on all the transactions. However, if you're not repaying the due amount within the stipulated time, the unpaid due would attract interest along with all the new transactions till the due amount is repaid in full.
The minimum amount due is the minimum amount a credit cardholder needs to pay in case they cannot pay the total outstanding. It is typically 5% of the total outstanding amount on the card.
Yes. Banks do charge processing fees for loans against credit cards. However, you need to pay a very nominal processing fee.
Credit cards are automatically renewed toward the end of the expiration period. A renewed card with a new expiration date is usually a month before the existing card's expiration.
Credit cards issued in India are usually valid for 3 to 5 years.
It depends on your card type. If your credit card is accepted globally, you can use it in other countries, as mentioned by your card issuer. However, a foreign transaction fee will be charged for all purchases abroad.
It depends on various factors - the number of days late, the number of instances, and the amount due. Based on all this, your credit card issuer would take a call about whether or not to report the same to the credit agencies.
You can always reopen a credit card account if it is closed. The credit card issuer will consider how long ago you closed the credit card account. However, remember there is no guarantee that the issuer will allow you to reopen the account.
Almost all credit card issuers will not charge you any fee if your credit card hasn't been used for months. They will likely charge you an inactivity or dormant account fee. Depending on the credit card issuer, an inactivity fee is generally charged on deposit accounts.
Different banks will charge different fees. Typically, the charge will range from 2.5% to 3% of your transaction amount. This will be a minimum amount of Rs.250 to Rs.500.
When you lose your credit card, you need to notify the bank immediately, and they will block your account.
Yes, you can always get a credit card without having a credit score. However, the bank will charge a higher fee. Usually, banks accept a CIBIL score of 700-750 and above to issue a card.
This process is also known as a cash advance. The bank will set the maximum amount you withdraw from an ATM using your credit card. Remember that this is generally capped at up to 30% to 40% of your card limit.
You must be 18 years old to apply for a credit card.
If you apply for a credit card online, the approval process may be completed within a day.
You can use international credit cards in India if the banking service is available. You can contact the bank to learn more about using your international credit cards in India.
Yes. You can set a transaction limit for your credit card. You must contact credit card customer care of the bank to set the limit.
You can reach a bank's credit card customer care by calling their customer care number or writing their customer care email ID.
You can easily disable or enable international transactions either by contacting bank customer care or via online methods - the website or the bank app.
You will have to submit a form to change the phone number of your credit card. For some banks, you can change your number online; for a few banks, you will have to visit the bank.
A credit card allows you to purchases within the credit limit and pay later. One of the main advantages of a credit card is that the total sum of your purchases can be converted into low-cost EMIs and repaid over a specified period. You can avail of discounts, cashback, and reward points on your card spending.
An EMV chip credit card works with all payment acceptance devices. These have to be certified and compliant with EMV chip-and-PIN standards. When a transaction is made, you insert the card into the terminal, and the card reader and the chip will communicate and authenticate your transaction.
The credit card issuer will decide the credit limit for your card by looking into a lot of factors, like your repayment history, credit score, and other factors.
The bank can charge between 1% and 4% for an international transaction.
A CPP service will protect your credit card from loss, theft, fraud, etc.
The five major credit card networks in India are Visa, MasterCard, American Express Banking Corp (Amex), Discover, Discover, Diners Club International, and RuPay (by the National Payments Corporation of India).
Yes, you can pay your credit card bill with another credit card.
On the cardholder's demise, the payment of the remaining bills has to be made by the legal heir.
Yes, you can use your credit card without a PIN. A PIN is required if you plan to use the card for cash advances at ATMs.
Once you log into the app, you should click on "Edit Account Settings". Now you can add or delete any card by clicking on it.
You can apply for multiple cards simultaneously if you meet the eligibility criteria.
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