Apply for a credit card by comparing the Best credit cards online. You can find credit card offered by Top banks along with their features, benefits, fees, and latest offers, everything at a single place.
|Best For||Credit Card|
|Lounge Access||HDFC Diners ClubMiles Card|
|Rewards||Citi Rewards Card|
|Cash Back||Citi cashback Card|
|Movies||Kotak PVR Gold Credit Card|
|Reward Points||HDFC Freedom Card|
|Fee Waiver||IndusInd Platinum Card|
|Fuel||IndianOil Citi Platinum Card|
|Lifestyle||IndusInd Platinum Aura Edge Card|
|Shopping and Movies||Axis bank Neo Credit Card|
|Travel and Dining||HSBC Visa Platinum Credit Card|
Credit cards are an important financial tool which enables its holders to make purchases and have the luxury of paying back the amount at a later date. A credit card comes with a bank-approved credit limit and the holder must pay back the amount due on the due date which is mutually decided by the bank and the holder.
|Welcome Gift||Many banks offer a welcome gift to new credit card applicants once the card is issued to them in the form of bonus reward points, vouchers, discounts, etc.|
|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, etc.|
|Travel Benefits||Travel benefits of credit cards 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.|
|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 accident, life, lost baggage, lost card, outstanding, etc.|
|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 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 installments (EMI).|
The eligibility criteria of a credit card are dependent on a range of factors. Check out the primary eligibility criteria for credit cards
|Nationality||You should be a citizen of India or a non-resident Indian (some banks extend credit cards to NRIs).|
|Age||You should be at least 18 years old. In some cases, the minimum age to apply for a credit card is 21 years.|
|Employment status||You must either be salaried or self-employed and have a steady source of income.|
|Income||Most banks will require you to meet their minimum income requirement before they approve your card application.|
|Credit Score||A good CIBIL score, with no history of default goes a long way in making sure that your credit card application is approved.|
So, how do you go about finding a credit card that is just right for you? Here's a handy list:
If you keep these points in mind, getting the right credit card shouldn't be too much of a problem.
Applicants can submit any one of the ID proof, address proof and income proof documents listed below
|Proof of Identity||Proof of Address||Proof of Income (For Self-Employed)||Proof of Income (For Salaried)|
|Passport||Telephone Bill||Certified Financials||Salary Certificate|
|PAN Card||Electricity Bill||Recent ITR Statement||Recent Salary slip/s|
|Ration Card||Aadhaar Card||Passport||Employment Letter|
The application process for a credit card can be done online as well as offline. Most banks have gone the digital way in the wake of the COVID-19 pandemic and the application process for credit cards have become simpler, faster and most importantly, paperless.
Applying for a credit card online is as easy as booking a movie ticket online. Here are the steps:
And that's it. It really is that simple.
Note: Each bank may have a different application procedure. Visit the bank's website for more details regarding how to apply for their credit card online.
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.
Robust comparison tool: Before availing a credit card, it is always advisable to compare various cards to find the best. But the process of comparing is not that easy, and a lot of people tend to avoid it, ending up with a wrong card. 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.
We simplify the application process: With our end-to-end paperless online application process, we have simplified the entire application process in a few simple steps. You don't have to visit the bank branch nor have to meet any bank representative to apply for a credit card. Simply, visit our website, compare various credit cards, choose one and apply for the same without leaving the comfort of home.
24x7 Support: Apart from the above, BankBazaar provides 24x7 support to all its customers throughout the year.
Not everyone needs the same credit card. While some consider it as a line of credit, a few consider it as an instrument to track their expenses and for some others it's a way to get the best deals on every purchase.
Today's customer-centric market has thus come with a solution for all - A credit card for every need. The partnership between card issuers and retailers made the categorisation even simpler. From shopping to travel to dining to rewards, there are cards for each category.
The name says it all - Shopping Credit Cards are designed for shopaholics or frequent shoppers. While some cards provide deals and discounts for shopping online, others are designed for in-store shopping. Further, there are co-branded Shopping credit cards that provide offers and rewards on specific brands or stores.
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.
A Lifestyle Credit Card is an "all-in-one" credit card that provides privileges across categories. From shopping to travel, rewards to cashback, entertainment to dining, you can enjoy special offers and discounts on most of them.
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 Lifestyle Credit Cards also have low or no annual fee and are designed for low-income group individuals.
Partnered with major industry players like Hindustan Petroleum (HP), Bharat Petroleum (BPCL), Indian Oil, etc., credit card issuers are offering Fuel Credit Cards loaded with partner-specific benefits. 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 are providing a wide variety of redemption options ranging from gifts to air miles to cashback. Rewards Credit Cards also provide welcome rewards, bonus rewards, milestone rewards, etc., in terms of reward points. Most of the cards offer reward points with unlimited validity.
Cashback Credit Cards offer cashback, cash rebates, and other money-saving benefits on most of the credit card spends. While some cards offer cashback in the form of reward points others offer direct cashback to the credit card account which can be used to pay off the card outstanding.
Mostly providing air travel benefits, Airline Credit Cards are best suited for frequent travellers. The features and benefits offered on the cards revolve around air travel. Reward points to air mile conversion, free flight tickets, complimentary airport lounge access, and accelerated rewards on air ticket booking, among others are some common features offered by Travel Credit Cards.
Most of the Travel Credit Cards are co-branded cards offered in collaboration with the card issuer and an Air Carrier or Travel Website. The annual fee of the cards range from Rs.500 to Rs.5,000 depending on the benefits they offer.
Almost all credit cards have a joining fee and annual fee. It is important that you keep a look out for these fees. A joining fee is the fee which needs to be paid to get the credit card and an annual fee is the amount to be paid at the end of each year.
Annual fee and joining fee are minimal for basic credit cards and the more benefits a card offers, the annual and joining fees increases. Many cards offer a waiver of annual fees if you spend a certain sum of money in a year. All in all, the benefits of the card must be greater than the fee of the card.
Credit card statement (or credit card bill) is generated every 30/31 days. The bill generation date depends on the date on which the credit 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.
Your credit card comes with a pre-assigned credit limit. This limit is the total amount you can charge to your card. For example, if your credit card provider says that the credit limit on your card is Rs.25,000, it means that you can make transactions up to Rs.25,000 using your card.
Each time you swipe your card, the amount is deducted from the total credit limit and each time you pay your bill, your credit limit is reinstated by that amount.
Here's what affects your credit limit:
When you don’t pay the total outstanding amount on a credit card by the due date, you’re automatically opting for the revolving credit facility. This means the borrowed amount which is not repaid on time attracts interest or finance charge.
The interest charge is also applicable when you pay only the minimum amount due or anything less than the total amount due.
Further, cash withdrawals attract interest from the date of the transaction till the date the amount is repaid in full.
The interest rate is charged at a monthly percentage rate or an annual percentage rate (APR) and varies from card to card. The issuer will communicate the rate of interest at the time of card issuance.Interest rates charged by top banks are listed below.
|Credit Card Issuer||Credit Card rate of interest on revolving credit|
|State Bank of India||Up to 3.35% per month|
|HDFC Bank||Up to 3.4% per month|
|IndusInd Bank||3.83% per month|
|Citibank||3.50% per month|
|Axis Bank||2.50% to 3.25% per month|
|Kotak Mahindra Bank||3.40% per month|
|HSBC Bank||1.99% to 3.30% per month|
|ICICI Bank||2.49% per month|
When managed properly, a credit card acts as an interest-free credit line. This means you don’t have to pay any interest if the borrowed amount is repaid in the stipulated time. The period between a transaction date and the credit card bill payment due date is called the ‘Interest-Free Period’.
If you pay the transaction amount on or before the due date, you don’t have to pay any interest, hence the in-between period is termed as the interest-free period or grace period.
The grace period varies for each credit card transaction and the typical period ranges from 30 to 45 days. Transactions carried out at the beginning of your credit card billing cycle would provide you with a longer grace-period.
However, the grace period is not applicable if the previous month's due has not been paid in full. Also, cash withdrawals using a credit card are not eligible for grace period. Interest on such transactions would be levied from the withdrawal date itselfThe interest-free periods offered by top banks are as follows
|Credit Card Issuer||Credit Card Interest-free Period|
|State Bank of India||20 to 50 days|
|HDFC Bank||20 to 50 days|
|IndusInd Bank||Up to 50 days|
|Citibank||Up to 50 days|
|Axis Bank||20 to 50 days|
|Kotak Mahindra Bank||Up to 48 days|
|HSBC Bank||Up to 52 days|
|ICICI Bank||18 to 48 days|
Credit card EMI is one of the useful features offered on credit cards. There are various options to use the EMI facility.
With the first option, credit cardholders can convert their purchases instantly into EMI while carrying out a transaction. However, the product/service or the retailer should have partnered with the card issuer.
The second option allows users to convert any of the transactions or the total outstanding on the card into easy monthly installments (EMI).
However, the request for conversion should be made within a specific period from the date of the transaction, say 20-30 days.
While availing the facility, cardholders have the option to choose the repayment period which typically ranges from 3 to 24 months.
Some issuers offer 0% interest while others charge a low or nominal interest rate. Furthermore, a processing fee of 1-2% of the converted amount may also be levied.
Once you opt for the facility, you need to repay the EMI amount every month. The associated principal amount and the interest charge, if applicable, will be added to the minimum amount due on the card.
A debit card draws money from your account immediately when you make a purchase. Whereas a credit card enables you to borrow the money required against credit and you will have to pay the bank when you receive your credit card bill.
This is the maximum amount that one can spend on their card. When you have a high limit for the credit card, it allows you to spend more and this will help your credit scores.
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.
A credit score above 650 is ideal to be able to get a credit card
Even if you do not have a job and have a pretty substantial cash inflow into your account every month or so, 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, a lot of 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 a point every time you spend a said amount of money. You can then redeem these points for vouchers, cashback, or air miles.
It is much easier to apply for a credit card online. You can avoid the hassle of going to the bank, standing in queues, physically filling out forms and providing documents. You can conveniently apply online, attach soft copies of required documents and submit your application, all within the comfort of your home.
The minimum salary requirement to be able to have a credit card is different for every bank. The figure varies for salaried and self-employed individuals.
A credit card gives you a line of credit and you can use this to make balance transfers, all kinds of purchases, and cash advances. You will have to pay back the amount by the date specified by the bank. When you use a credit card, you have to keep in mind the minimum payment to be made every month by the due date.
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.
As your income does not show up on any of the credit reports, many credit card issuers do not verify your income source. However, proof of income could increase the chance of your credit card application being approved.
Credit scores above 650 are generally deemed as good for credit card approvals. Scores below 650 are usually considered poor, and approval may be subject to providing security (collateral such as fixed deposits).
The best and the 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 then choose a card that best suits your needs.
The banks typically state that they would take a few hours or days to approve an application and take up to 21 days to disburse a credit card. However, depending on the applicant's profile, availability of documents, verification checks, etc., it might also take a little longer than the stipulated time.
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 certain fee known as the foreign transaction fee will be charged for all the purchases made abroad.
Not all credit cards do, but there are quite a few credit cards that come with fraud liability protection cover.If your card offers the protection cover. If most of the fraudulent transactions that might happen on the card when it's either lost or stolen will be covered. However, you need to intimate about the loss of the card immediately to the respective card issuer.
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.
Having a credit card would mean that you will get small and quick loans while you make your everyday purchases and it offers payment flexibility. If you are a charge cardholder, you will have to pay back the whole amount that you borrow every month on the due date and failure will lead to a heavy fee being charged.
The number, one should own is not fixed. It depends on your financial ability and your spending behaviour. However, ensure to manage all the cards properly.
The minimum amount due is the minimum amount a credit cardholder needs to pay in case he/she is not able to pay the total outstanding. It is typically 5% of the total outstanding amount on the card.
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. But once reported, it would certainly affect your credit score.
Yes, banks do charge processing fee for loans against credit card. However, you need to pay a very nominal amount as processing fee.
Chase Sapphire Preferred® Card has the highest limit of $100,000.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.