What is Credit Card?
Today, the term credit card has become synonymous with instant money.From a simple mobile recharge to an expensive mobile purchase, everything has been made possible with a valid credit card. We no longer need to wait till the salary day to plan a holiday or to pay the insurance premium.
Well, as most of us are aware, a credit card allows us to borrow funds instantly. However, the major share of the credit limit can be used only for card transactions while only tiny portion is allotted for cash transactions.
The amount used on the credit card can be repaid within a stipulated time, typically 30-45 days, without any interest. However, if you miss the due date, you will have to pay the interest along with the principal amount.
The interest rate and grace period provided on credit cards depend on the card type.Besides the revolving credit option, credit cards offer other benefits such as reward points on every spend, free insurance, complimentary lounge access facility, easy EMI, etc.
Know All About Credit Cards
Different Types of Credit Cards in India
Credit Card Apply
Apply Credit Card Online
The launch of credit cards has revolutionised the entire financial world. Due to the convenience offered by this financial product along with a plethora of other advantages, more and more individuals are applying for and procuring credit cards. Unlike debit cards, credit cards work on the principle of credit. For instance, individuals borrow funds when they swipe their credit card and repay the same through their monthly bills. However if misused, credit cards can result in a serious dent in the individual’s finances as interest rate will be applicable on late payments.
A multitude of banks and financial institutions today provide credit cards to their customers. The number of credit cards that are provided also vary and each of them come with specific benefits and features to suit the needs and requirements of myriad customers. Customers can apply for credit cards through different ways as long as they meet the eligibility requirement set by the credit card provider. These days, customers can easily get a credit card online as well as offline.
Credit Card-Apply Online
With the introduction of the internet, almost everything today has gone digital and so have banks and financial institutions. In case customers wish to apply for a credit card, they can do so online. They can fill in an application form and submit it online. In order to do so, customers will have to follow the steps given below -
- Individuals will have to visit the official website of the bank and apply credit card online of their choice, as long as they meet the eligibility criteria.
- Customers can also e-mail the bank if necessary in order to avail a credit card.
Another convenient online credit card application can be made through financial websites such as BankBazaar.com. In order to do so, the following steps will have to be taken -
- All customers will have to do is to visit the BankBazaar website and choose ‘Credit Cards’ which will be on top of the page.
- They will then be taken to another page wherein they will see a list of available credit cards. Customers also have the option to filter the list based on the name of the bank and other criteria.
- They will then have to click on the card that they wish to procure and select the ‘Check Eligibility’ link.
- The applicant will need to answer the listed questions and if they meet the required criteria, they can click on the ‘Instant Apply’ button, fill up the form and submit it.
Apply for Credit Card Offline
Another option that can be availed is applying for a credit card offline. In order to do so, the steps given below will have to be followed -
- This can be done by visiting a branch of the bank that the customer wants to avail a credit card from.
- Applicants will be asked to fill the necessary forms and in case they meet the required eligibility criteria, they will be able to avail the said credit card.
- Alternatively, you can also approach the banks by calling their support centres which are typically available 24/7 on all days of the week.
Compare Credit Cards from Best Banks in India:
Note – The rates/fees and charges may be changed by the banks at any time.
Super Duper Deals by BankBazaar:
- Apply for a credit card to avail Amazon gift voucher worth upto Rs.1000
- The voucher will be given on approval of the card application
- Offer valid from January 1, 2019 to January 31, 2019
Axis Bank Privilege Credit Card:
- 50% waiver on Joining Fee
- This is applicable for all the customers
- The offer is valid till further notice
American Express Gold Card:
- No Annual fee for the first year
- This is applicable to special corporates
- The offer is valid till further notice
American Express Platinum Reserve Credit Card:
- No Annual fee for the first year
- This is applicable to special corporates
- The offer is valid till further notice
HDFC Bank Regalia Card:
- No Annual Fee
- This is applicable for special corporate customers
- The offer is valid till further notice
HDFC Bank Regalia First Card:
- No Annual Fee
- This offer is applicable for special corporate customers
- The offer is valid till further notice
HDFC Bank Money Back Card:
- No Annual Fee
- This is applicable for special corporate customers
- The offer is valid till further notice
IndusInd Bank Credit Card
- No joining fee charged on spending Rs.25,000 within 3 months of card issue date
- Fees charged will be credited to the card within the 5th month
- The offer is valid till further notice
IndusInd Bank Platinum Card:
- No Annual fee for the first year
- This is applicable for all the customers
- The offer is valid till further notice
IndusInd Bank Platinum Aura Edge Master Card:
- No Annual fee for the first year
- This is applicable for all the customers
- The offer is valid till further notice
IndusInd Bank Platinum Aura Edge Visa Credit Card:
- No Annual fee for the first year
- This is applicable for all the customers
- The offer is valid till further notice
*Taxes will be levied as applicable on these charges. The charges in the table are subject to change based on future revisions implemented by the banks
How to Use a Credit Card
You can use the credit card at the below-mentioned places to conduct transactions –
- At point of sale (POS) merchant terminals
- On online shopping websites, e-wallets, etc.
- At ATMs to withdraw cash
About how to use a credit card – it’s simple.
For processing a card-present transaction such as an ATM cash withdrawal and card-swiped transaction, you need to enter the 4-digit PIN.
For most of the online transactions, you need to enter your card details. The PIN is seldom asked for online transactions.
Credit Card Interest Rates
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 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.
|
State Bank of India
|
Up to 3.35% per month
|
|
HDFC Bank
|
1.99% to 3.49% per month
|
|
American Express Credit Card
|
1.99% to 3.5% per month
|
|
IndusInd Bank
|
3.83% per month
|
|
Citibank
|
3.10% to 3.50% per month
|
|
Axis Bank
|
2.50% to 3.25% per month
|
|
Kotak Mahindra Bank
|
2.49% to 3.50% per month
|
|
HSBC Bank
|
1.99% to 3.30% per month
|
|
ICICI Bank
|
2.49% to 3.50% per month
|
Credit Card Interest-Free Period
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 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 itself.
The interest-free period offered by top banks is as follows
|
State Bank of India
|
20 to 50 days
|
|
HDFC Bank
|
Up to 50 days
|
|
American Express Credit Card
|
Up to 48 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 Statement
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 every month. However, if the total outstanding balance is less than a certain cut-off, say Rs.200, no statement will be generated.
Credit Card EMI
Credit card EMI is one of the useful features offered on credit cards. There are various options to use the EMI facility.
- Opt for EMI while transacting
- Convert to EMI after the transaction
Credit cardholders with the first option 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 the 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 the others charge a low or normal 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.
Various Elements Printed on a Credit Card
A credit card might look like any other card with number, logos and other information. But are you aware that each element on a credit card has a purpose? This section will help you understand the significance of each and every element printed on the front and rear side of a credit card.
Let's discuss the elements on the front-side of a credit card.
- Credit card number: The 16-digit number is one of the prominent elements of a credit card. If you think it's a random, machine-generated number, you're wrong. Each digit or a set of digits of the number not only provide specific information but are also used to identify the authenticity of the card, just by doing a simple math.
- The first digit of the 16-digit number is the Major Industry Identifier (MII) and indicates a specific industry that issued the card. For banking and financial institutions, the digits 4 and 5 are assigned by the regulatory. Hence most of the credit cards numbers issued in India begin with 4 and 5. While Visa credit cards begin with 4, MasterCard powered card begin with 5. American Express cards, on the other hand, begin with 3.
- The next 5 digits along with the first digit represent the issuer or the bank. They are thus called Issuer Identification Number or Bank Identification Number (BIN). Each bank uses a different sequence of IIN. Hence by looking at the first 6 digits, one can identify the issuing authority.
- The digits 7 to 15 contain the primary account number of the credit card. The number is unique for each cardholder. The number is crucial to identify the customer hence are often masked in all the bank communications.
- The last digit, the 16th, is called the check digit as it is used to check the accuracy of other digits on the card. The last digit can be generated by applying a mathematical formula called the Luhn Algorithm to the previous digits. One wrong number will give a different result and that's how inaccuracy of the digits will be identified.
- The logos and names on the credit card: The next prominent components on a credit card are the issuer's logo, the name of the card, card networks such as Visa, MasterCard, RuPay, etc., the cardholder's name, and the validity date.
- The chip and the contactless icon: These are the new entrants, we can say. With the Reserve Bank of India (RBI) mandating the conversion of all magnetic stripe-only cards into EMV-chip-based cards, all the new credit cards issued after 31 January 2016 are chip based. If your card is upgraded, you can see an EMV chip on the front side.
Another latest feature that has been introduced by credit card issuers is the contactless payment feature. If your card has the feature, you will find a symbol similar to a Wi-Fi symbol on your card.
Now let's move on to the back-side of a credit card.
- Magnetic stripe: Despite the introduction of EMV chip-based cards, the magnetic stripe, which carries all the crucial account information, still exists till the time all the retail terminals in India are upgraded to accept chip-based cards. This means, even though you receive a credit card very recently, it's likely that you will see both chip and stripe on your card.
- CVV: The CVV or Card Verification Value is a security code that is used as a fraud-prevention tool. The CVV is typically used for online or card-not-present transactions. While VISA and MasterCards have 3 digits in the CVV, Amex has 4 digits.
- Signature box, hologram, and others: The signature box is another security feature on a credit card. Every cardholder needs to sign in the box to make the card legally valid. In case suspicious cases, the signature on the card will be cross verified with other signature proofs the cardholders carry.
The hologram is the glittering little sticker that prevents physical copying of the card. It contains various layers with images imprinted at different angles. Its design makes it hard to copy using a scanner or other instrument. Hence, it also acts as another security feature on the card.
Features of a Credit Card
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:
Reward Points Program: Most credit cards offer a reward points program, which allows cardholders to earn reward points on every transaction they make using their cards. A few exceptions to it is that fuel transactions, insurance payments, gold or gold jewellery purchases, utility bill payments, cash and EMI transactions are typically not eligible for reward points.
The accrued reward points can be redeemed for various options offered in exclusive rewards catalogues provided by the issuers. However, card members need to earn minimum reward points before going for redemption.
Airport Lounge Access: Complimentary airport lounge access and membership to Priority Pass Program are one of the most common features offered on most credit cards. Though you may not find the features on a basic credit card, most next to basic credit card offers complimentary lounge access with a limited number of visits per year, free membership to airport priority pass programs and others. With such a feature on credit card, members can enjoy free lounge visits to both domestic and international airports.
Fuel Surcharge Waiver: Another common aspect offered on most credit cards is the fuel surcharge waiver facility that waives off the 1% surcharge that is typically charged on all card transactions conducted at petrol stations.
Insurance Coverage: While some premier cards provide a comprehensive insurance policy that provides coverage against air accident, life, lost baggage, lost card, outstanding, etc. On other cards, the cover is limited to a few aspects.
Global Acceptance: 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 allowing them to repay the amount on a monthly basis within a tenure of their choice.
EMI Conversion: The feature allows the credit card members to convert their credit card transaction into easy monthly instalments (EMI). They can either choose to convert the total outstanding on their card into EMI, a specific transaction, especially big-ticket purchases into EMI and can also convert merchant transactions into EMI.Generally, these plans have very attractive interest rates and different repayment tenures. The EMI conversion will be done with no other documentation and most of the times instant.
Lifestyle Benefits: By partnering with various merchants, credit card issuers provide attractive discounts and offers on various lifestyle categories including dining, shopping, travel, wellness, entertainment, etc.
Travel Benefits: Frequent travellers can make the best use of the travel credit cards that provide travel-related benefits to the cardholders. Some of the common benefits offered on travel credit cards include air miles accrual and redemption for air tickets, free travel insurance, discount offers on domestic and international flights, complimentary lounge visits, discounts on hotel booking, and concierge services.
Benefits of a Credit Card
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.
Documents Required to Apply for a Credit Card Online
Applicants can submit any one of the ID proof, address proof and income proof documents listed below
- Passport
- PAN Card
- Ration Card
- Aadhaar Card
- Voter’s ID Card
- Driving License
- Telephone Bill
- Electricity Bill
- Passport
- Ration Card
- Rental Agreement
- Aadhaar Card
- Salary Certificate
- Recent Salary slip/s
- Employment Letter
- Certified Financials
- Recent ITR (Income Tax Returns) Statement
- Audited Profit and Loss Statement or Balance Sheet
- Proof of business continuity
Apart from the above mentioned documents, banks can ask the applicants to submit other documents, if required.
Credit Card Eligibility
The eligibility criteria to apply for a credit card differs for each bank and also for each credit card. While the basic credit cards with nominal annual fee and minimal features require basic eligibility like constant source of income, good credit history or credit score, etc., the mid and premier range cards, which offer premier benefits and features, are typically issued to select group of people who meet the fixed criteria for income, credit score, and other parameters. To know your eligibility for a specific credit card, you can use the ‘Check Eligibility’ feature offered on most bank websites. You can also use the same feature on Bankbazaar.com.
Why to Apply for a Credit Card Online through BankBazaar
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.
Different Types of Credit Cards
Not everyone needs a 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 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 categorization even simpler. From shopping to travel to dining to rewards, there are cards for each category.
Types of Credit Cards in India
Broadly segregated into two categories - Personal Credit Cards and Commercial Credit Cards, there are other types of credit cards that serve a different set of customers.
Personal Credit Cards
- Lifestyle Credit Cards
- Shopping Credit Cards
- Travel Credit Cards
- Reward Credit Cards
- Cashback Credit Cards
- Fuel Credit Cards
- Co-branded Credit Cards
- Premium/Super Premium Credit Cards
Lifestyle Credit Cards:
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.
The 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.
|
ICICI Platinum Chip
|
Lifetime free
|
Contactless technology; 15% off on dining; Fuel surcharge waiver, etc.
|
|
ICICI Coral Credit Cards
|
Rs.500
|
Zero first year fee; Up to 10,000 reward points/year; Free airport lounge access; 50% more rewards on online spends; Free movie tickets; Dining discounts, etc.
|
|
SBI Card Elite
|
Rs.4,999
|
Welcome gift worth Rs.5,000; Free movie tickets of Rs.6,000 per year; Bonus reward points up to 50,000/year; 10 reward points; Free airport lounge access and others.
|
|
SBI Card Elite Advantage
|
Rs.4,999
|
|
Citi Prestige Credit Card
|
Rs.20,000
|
Up to 10,000 bonus air miles/year; Unlimited airport lounge access; Free golf lessons; Free air accident cover, etc.
|
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 a starting annual fee of Rs.500. The benefits offered on the cards including the welcome gifts, reward points, deals and discounts, etc., revolve round the shopping category.
|
Snapdeal HDFC Bank Credit Card
|
Rs.500
|
Welcome gift - Snapdeal gift voucher worth Rs.2,000; 20 reward points on Snapdeal spends; 5% discount on Snapdeal.com, etc.
|
|
SimplyCLICK SBI Card
|
Rs.499
|
Joining gift - Rs.500 Amazon gift voucher; 10X reward points on online spends; Up to Rs.2,000 e-vouchers; Fuel surcharge waiver, etc.
|
|
SBI STYLEUP Contactless Card
|
Rs.499
|
Welcome gift voucher worth Rs.500; Flat 10% round-the-year discount at Fbb and Big Bazaar Stores; 10X reward points Big Bazaar, Fbb and Food Bazaar outlets.
|
|
First Citizen Citi Credit Card
|
Rs.500
|
Rs.500 worth Shoppers Stop vouchers as welcome gift; Up to 7 reward points at Shoppers Stop spends; 20% off at all Shoppers Stop outlets; Annual fee waiver
|
Travel Credit Cards:
Mostly providing air travel benefits, the Airline Credit Cards are best suited for frequent travelers. The features and benefits offered on the cards revolve around the 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 of the card issuer and an Air Carrier or Travel Website. The annual fee of the cards ranges from Rs.500 to Rs.5,000 depending on the benefits they offer.
|
Yatra SBI Card
|
Rs.500
|
Welcome gift voucher of Rs.8,250 from Yatra.com; Up to Rs.4,000 off on flight ticket bookings; 20% of hotel bookings; Free air accident insurance.
|
|
Air India SBI Signature Card
|
Rs.4,999
|
20,000 reward points as joining bonus; Up to 1 lakh bonus reward points convertible to Air India air miles; 30 reward points on Air India Flight bookings; Free lounge access, tec.
|
|
MakeMyTrip ICICI Bank Platinum Credit Card
|
Rs.500
|
Rs.2,000 Lemon Tree Hotels voucher on joining; Free airport lounge access; 1+1 movie ticket offer on Book My Show, etc
|
|
JetPrivilege HDFC Bank Signature / World Card
|
Rs.2,500
|
Welcome gift of up to 7,500 bonus JPMiles; 18 JP miles on flights booked on jetairways.com; 5% discount on domestic flight bookings; Free airport lounge access, etc.
|
Reward Credit Cards:
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.
Reward Credit Card also provide welcome rewards, bonus rewards, milestone rewards, etc., in terms of reward points. Most of the cards offer reward points with unlimited validity.
| Citi Rewards Credit Card |
Rs.1,000 |
Welcome rewards, 10X reward points; Monthly bonus rewards; Redemption options - air miles, cashback, premium products, etc. |
| The American Express Membership Rewards Credit Card |
Rs.0 (Only on Bankbazaar) |
Welcome rewards; Monthly bonus rewards; Renewal bonus; Redeem for 18K and 24K Gold Collection. |
Cashback Credit Cards:
Cashback credit cards offer cash back, cash rebates, and other money-saving benefits on most of the credit card spends.
While some care 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.
| HDFC MoneyBack Credit Card |
Rs.500 |
2X rewards on online spends; 100 RP = Rs.20 |
| HDFC Bharat CashBack Card |
Rs.500 |
5% cashback on select spends |
| Citibank Cash Back Credit Card |
Rs.500 |
Up to 5% cashback on select spends |
Fuel Credit Cards:
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 the users to keep the fuel costs under check.
| BPCL SBI Card |
Rs.499 |
Welcome rewards; 13X reward points on fuel spends |
| ICICI Bank HPCL Coral Credit Cards |
Rs.199 |
3X reward points; Renewal fee waiver |
| IndianOil Citi Platinum Credit Card |
Rs.1,000 |
4 reward points; Up to 71 litres of free fuel per year |
Co-branded Credit Cards:
Credit card issuers are partnering with various retail merchants such as airline companies, e-commerce sites, fuel companies and other banks to make the shopping experience exclusive to the users.
Co-branded credit cards provide exclusive discounts and offers on merchandise or service offered by the partnered merchant.
For example, if a credit card is co-sponsored by Jet Airways, cardholders can expect offers and privileges from Jet Airways in terms of free tickets, discounts on flight bookings, accelerated reward points, reward points to JP Mile conversion among others.
| IRCTC SBI Platinum Credit Card |
Rs.500 |
Welcome rewards; Up to 10% value back on ticket bookings; Railway surcharge waiver |
| Axis Bank Vistara Credit Card |
Rs.1,500 |
Free air tickets: Complimentary Club Vistara Membership |
| Jet Airways IndusInd Bank Voyage American Express Card |
Rs.0 |
Free membership to Jet Privilege; 5% discount on air tickets; More reward points on Jet Airways tickets |
Premium / Super Premium Credit Cards:
These are the expensive class of credit cards offered by most of the banks.The annual fee of the Premium credit cards typically range from Rs.3,500 to 25,000. But the privileges offered on the cards are in par with the rate charged.
The features and benefits offered on Premium Credit Cards cover most of the lifestyle categories.From exclusive welcome gifts, entertainment benefits, elite rewards programs, complimentary airline memberships, access to airport lounge programs to best Forex markup rates, the cards have it all.
| SBI Card Elite |
Rs.4,999 |
Welcome gift voucher; 5X reward points; Free membership airport lounge programs |
| JetPrivilege HDFC Bank Diners Club |
Rs.10,000 |
Bonus JPMiles; 24 reward points; Unlimited lounge access; Premiere check-in and extra baggage allowance. |
| IndusInd Bank Signature Legend Credit Card |
Rs.9,999 |
Free air tickets; Golf club access; Free Priority Pass Membership; Free insurance |
-
What is a credit card?
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.
-
What are the key benefits that Premium credit cards offer?
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.
-
How is redemption done on a cashback credit card?
The cashback that is earned by a customer can be automatically got as statement credit from the bank.
-
How is a secured credit card issued by a 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
-
How does a prepaid credit card work?
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.
-
What are the features of a Business credit 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.
-
How can a customer select the best suited card for himself?
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.
-
Can a credit card be procured by any individual in India?
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.
-
What is the minimum criteria for applying a credit card in India?
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.
-
What are the key benefits of the balance transfer option on a credit card?
Customers can easily consolidate multiple credit card balances onto a single card and repay back with flexible tenure options at low interest rates.
-
Do banks levy any balance transfer fees on customers choosing this option on their credit cards?
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.
-
How can users check the available credit on their credit cards?
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.
-
What are the highlights of the introductory period of a credit card balance transfer?
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.
-
What are the type of purchases that can be made using a credit card?
A credit card can be used to purchase goods, book travel tickets, perform online transactions and also make reservations for services.
-
Do credit card issuers in India offer co-branded credit cards?
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.
-
Can customers increase the predetermined credit limits on their credit cards?
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.
-
What is a Purchase introductory rate?
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.
-
Do credit cards come with specific cash withdrawal limits?
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.
-
How does a credit card work as a cashless payment instrument?
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.
-
How do I own a credit card in India?
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.
-
How important is it to understand the interest rate charged by a bank on a particular credit card?
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.
-
What are the different payment networks utilized by banks in India for credit card transactions?
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.
-
What are the eligibility requirements to be fulfilled while acquiring a credit card?
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.
-
Is there a minimum salary criterion required to be met while applying for credit cards in India?
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.
-
What does APR refer to with respect to a credit 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.
-
Do banks levy any charges for late payment of credit card bills?
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.
-
Do add-on or supplementary cards carry the same features as their primary credit cards?
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.
-
How do global cards help a frequent traveller?
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.
-
What do credit card reward programs offer?
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.
-
What measures are Indian banks required to take to avoid credit card fraud?
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.
-
How does the cash advance facility help an Indian credit card holder?
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.
-
What are the different online and offline modes available to customers for making credit card bill payments?
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.
What Happens after I Swipe My Credit Card at a Merchant’s POS Machine?
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-
- Purchase over, you hand the credit card to the retailer to pay for your purchase. He swipes, with an accompanying smile, of course.
- The merchant’s Point of Sale (POS) system is connected to the merchant’s bank via a communication link.
- Thanks to the POS system, your details are verified in real-time using the electronic verification system by the merchant’s bank. The verification is with regards to your credentials, validity of the card and availability of sufficient balance to pay for the purchase.
- Post the verification from the merchant’s bank, the details are forwarded to your bank for payment authorization if all the information is in order.
- When the merchant’s bank receives this authorization, it blocks the requisite amount from your credit limit to account for the purchase later on. Next, it generates an approval code that is transmitted to the merchant.
- At the merchant outlet where you stand for the clearance to affect quickly, the retailer receives this code and must key it in to obtain two charge slip copies from the POS system. One of these slips signifies your agreement with the card issuing bank to pay for the current purchase. You sign on this slip and return it back to the retailer. The other copy is yours to take away from this transaction.
- Safe, comprehensive and fast, all of these steps were affected in less than 2 minutes. Neat, right?
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!!
Important Notes on Credit Card
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!
After the demonetisation drive, a large number of people have started using their Credit Cards. News reports state that Credit Card usage has gone up by 40%, swipes below Rs. 500 have spiked by 65% and those more than Rs. 500 have gone up by 75%. Banks are seeing an increase in Credit Card applications. To avoid the rush, apply today! We have plenty of cards to choose from.
Going overboard with your Credit Card can dent your wallet. We have some advice for you. Follow a strict budget, pay more than the minimum amount due, try balance transfer and clear high-interest debt first - you're set! Take a look at our amazing Credit Card offers.
Did you know that your payment history plays a big role in determining your Credit Score? Every time you miss a payment or delay one, you're putting your Credit Score at risk. The good news, however, is that you can improve your payment history and rebuild your Credit Score over time with the help of a Credit Card. Don't have one? Take a look at our offers.
How a Credit Card can boost your confidence
Did you know that a Credit Card can help you bring back your lost confidence? Here’s how to use your card to boost your self-esteem: (If you would rather check out our offers, you know what to do)
It’s Salon Time
Ladies and gentlemen, an image makeover from head to toe can help boost your self-esteem
New Clothes. Woohoo!
Well, the beautification part is done. Now, it’s time to change your wardrobe. The clothes you wear reveal a lot about yourself.
Pump Some Iron
A positive body image can boost your confidence. Hit the gym, enrol for Zumba classes or kickboxing, or jog in the park.
Hang Out More Often
No more cash worries to stop you from hanging out with people. Go out, enjoy with your friends and let your Credit Card take care of the bill.
All it takes is a Credit Card to save your dying self-esteem. Apply now and get your confidence back.
16th April 2018
Tips to protect your Credit Card
Here's how to avoid physical damage to your Credit Card and ensure a long, healthy life.
Magnetic Strip
The most important part of your card is the magnetic strip on it. Exposing it to magnets or strong magnetic fields might stop the card from working. Keep it safe.
Extreme Temperatures
Too much heat or cold isn't good for your card. Room temperature - cool!
No Bending
Avoid storing your card in a location or manner that will result in bending or scratching the card.
Protective Cover
Most banks provide a protective sleeve along with the Credit Card to store it in. Use it.
It isn't all that difficult, right? Just some precaution and your card will stay with you for a long time. Take a look at our offers on Credit Cards.
17th March 2018
Lesser known Credit Card facts
Applying for a Credit Card and using it are fairly simple tasks. But is that all there is to it? Read on to find out a few lesser-known facts about Credit Cards. Don't have a card yet?
Impacts Two Aspects Of Your Credit Report
Credit Cards rule your Credit Score. Your payment history has a 35% impact on your Credit Score and the credit utilisation metric has a 30% impact. Your Credit Card usage impacts both.
Cover All Bases
Make sure that your Credit Card issuer reports your credit activities to all four credit bureaus in India. Not all card issuers share information with all the four bureaus.
An Unpaid Credit Card Bill Doesn't Affect Your Score
Bogus! Not paying your Credit Card dues will only send your Credit Score spiralling downwards. Always pay your dues in full if you want to see your score in the elite 750+ range.
Closing A Credit Card Account Is Not Always Good
Closing a Credit Card account can reduce the total credit available to you. This can raise your credit utilisation ratio above the acceptable 30% mark and bring down your Credit Score.
Get a Credit Card that suits your lifestyle, spend wisely and pay your dues on time. Then watch the magic unfold.
14th March 2018
Paperless Approval on Credit Cards
We bet you can't resist these Paperless Credit Card Offers. Challenge accepted?
HSBC Visa Platinum Credit Card
For starters, how about a Credit Card with zero joining fee? Yes, you heard it right. It offers free airport lounge visits too!
SBI Simply Click Card
Hooked on online shopping? This card offers 5X reward points for all online spends. Also, earn 10X reward points on spends with exclusive partners. What're you waiting for?
IRCTC SBI Platinum Card
Bitten by the travel bug? This card treats you with exclusive privileges & great travel packages from IRCTC. Also, earn a reward point on every Rs. 125 you spend. Who doesn't want that?
HDFC Diners Club Rewardz Credit Card
Want to feel special? This card will spoil you silly with lots of rewards on airline tickets, air miles, dining & more.
Also, get one-day approval on all of these cards. Good things don't last for long. Grab these offers NOW! Uh-oh, not eligible for these cards? Cheer up! We have other equally amazing Credit Card offers exclusively for you!
7th March 2018
Credit Card Benefits
You thought a Credit Card was all about using credit and paying bills? Nah! Credit Cards can actually be rewarding.
Batman may not have superpowers, but his alter ego is a financial superpower in his own right. Here’s how a Credit Card could unlock your financial superpowers as well. Give it a shot?
Get Rewarded
Credit Cards give you reward points every time you swipe. Redeem these points for goodies! Cards like SBI Simply Save Card give you 2000 points as joining bonus.
Get It All Back
Cashback Credit Cards can give you cash back on selected purchases. With the Kotak Delight Credit Card, get cash back on all dining and movie spends.
It’s Complimentary
You could get fuel surcharge refunds, shopping coupons and more with your Credit Card. Try the Indusind Platinum Aura Edge VISA Card.
Fly Away
Frequent Flyer? Get free flight tickets using your Credit Card! With the Jet Airways American Express Card, you get one-way complimentary Jet Airways Base Fare waived domestic ticket on your first charge.
Build Your Credit Score
Paying your Credit Card bills regularly and on time can ramp up your Credit Score faster than Alfred stitches Batman up after a fight.
Afford Huge Purchases
With a Credit Card, you could buy big-ticket items and pay back the amount in instalments. Legend has it that Batman is almost done paying off the instalments on his Batmobile.
It’s Convenient
Did you know Batman sits on rooftops every night looking for his lost wallet? With a Credit Card, you don’t have to carry a wallet full of cash everywhere you go. Just slip it in your pocket.
Track Your Expenses
Even Batman needs to keep track of how he spends his fortune. Credit Card statements can help you track your expenses and help you budget better over time.
Get your Credit Card from us and we will make it even more rewarding for you. Go on and explore!
7th December 2017
You must N.E.V.E.R. use your Credit Card for these
There are things you must never use your plastic buddy to pay for. To make your life simpler, here’s the list. In case you’re still looking for a card, we can help:
Big Ticket Items
Credit Card for big ticket purchases? Bad idea! Think about your budget before burdening yourself with a huge debt.
High-end Clothing Brands
Splurging on clothes that you can’t really afford is a very bad idea. Remember, you still have to repay the bank.
Teleshopping
What looks good on TV might not look as good in reality. Think twice before spending on all those fancy gadgets.
Fine Dine
Frequent fine dine can make you whine. Pamper yourself once in a while, but don’t become a reckless card-swiping ninja.
These are things you shouldn’t buy using a Credit Card. But there’s still a whole list of things you can buy. Pick your card and get started now.
6th September 2017
Can you handle a Credit Card?
Did you know that some people can't really handle a Credit Card? Listed below are the most common types who don’t make the cut. If you think you're a responsible user, please take a look at our awesome offers.
The Shambolic Lot
They’re disorganised bill payers or they pay only the minimum amount due every month. Chronically irresponsible, we say.
The Reckless Spender
These guys love to spend money. And they never think twice before spending too.
The Ignorant Bunch
They don’t care enough to learn how a Credit Card works. And sadly, that’s why they mess up.
The Careless College-goers
They're inexperienced. And they're usually on a tight budget. A Credit Card is clearly not for them.
Don’t fit in any of the above? Go ahead and get yourself a Credit Card.
23rd August 2017
Four REASONS to go cashless
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.
Goodbye, Queue
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?
Ciao, Cheques
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.
Adios, Fraud
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.
17th August 2017
How a Credit Card can boost your confidence
Did you know that a Credit Card can help you bring back your lost confidence? Here’s how to use your card to boost your self-esteem: (If you would rather check out our offers, you know what to do)
It’s Salon Time
Ladies and gentlemen, an image makeover from head to toe can help boost your self-esteem.
New Clothes. Woohoo!
Well, the beautification part is done. Now, it’s time to change your wardrobe. The clothes you wear reveal a lot about yourself.
Pump Some Iron
A positive body image can boost your confidence. Hit the gym, enrol for Zumba classes or kickboxing, or jog in the park.
Hang Out More Often
No more cash worries to stop you from hanging out with people. Go out, enjoy with your friends and let your Credit Card take care of the bill.
All it takes is a Credit Card to save your dying self-esteem. Apply now and get your confidence back.
4 Reasons Why Credit Cards Rule
Some say that Credit Cards are the new way of life. Now that may be a little far-fetched but Credit Cards are definitely becoming everybody’s favourite. Here are the reasons why:
Helps Beat the Rising Cost Of Living
Spendthrifts say Credit Cards lead to debt. The rest are using their cards to earn rewards, cashback and special discounts on purchases, cushioning the pressure arising out of the rising cost of living.
Affords You Luxury
Everything is sold at a marked-up price nowadays and paying in full will definitely burn a big hole in your pocket. Smart Credit Card users break their big buys into affordable EMIs.
Best Form of Instant Loan
Instead of borrowing, wise people pay for small, unexpected expenses with their Credit Card. There is a grace period from your time of purchase to the payment due date in which you can pay it all off without any interest.
Keep Track Of Every Penny
A Credit Card statement is a record all your purchases. Study it every month and you’ll be able to plug the leaks before they become too big.
We’ve always said that Credit Cards make excellent financial friends. Get a card, utilise it wisely and you’ll know it yourself. Go on!
Unlock happiness: Get a Credit Card
‘Money can’t buy happiness.’ We beg to differ. With everyone going cashless, it’s time to join the brigade. Get a Credit Card, mate!
Experiences Matter
Spending on experiences rather than material things tends to make you happier. For example, shopping alone versus a hiking trip with friends. What makes you happier?
A Smile Is Worth Millions
Do something to make someone smile. Being the reason for someone else’s happiness is a great feeling. Every little effort counts.
Buy Time and Use It
We’re not talking about a time machine, duh! Take a vacation with the ones who matter to you or go solo. Travelling can make you happy.
Little Joys > Expensive Stuff
Spend more on the simple joys of life. A long drive, your favourite ice cream and someone you love. It beats shopping for expensive stuff.
See? Money can make you happy if you use it right - with the perfect Credit Card, of course!
4 STEPS to Choose the Right Credit Card
Choosing the right Credit Card is as easy as 1-2-3. We tell you how. Or wait! Do you already know how to choose a Credit Card that suits your needs?
Annual Fee
If you hate charges, choose one with zero annual fees. Annual fees can go as high as Rs. 9,999 but you get a bunch of benefits, unlike free cards.
Rewards
Fuel surcharge waiver - check. Cashback - check. Reward points - check. Free vouchers - check. Choose the card that gives you the rewards that you want.
APR
Annual Percentage Rate (APR) is the interest charged on your Credit Card balance. The lower the APR, the better.
Joining Bonus
Who doesn’t love being pampered? Most cards give you vouchers, reward points or free movie/air tickets as joining bonus. Choose one that works for you.
Got wiser? Then, start exploring our many Credit Cards that offer you a world of benefits that you so deserve.
Effective TIPS to use your Credit Card
Using a Credit Card requires a little more than swiping and punching the PIN. It takes some self-control and some thought. Here are some tips to keep in mind. You could take a look at our offers in the meantime.
Make Small Purchases
Once you get a Credit Card do not let it sit idle. Make small purchases, which can be easily repaid. This will help you build a good credit score.
Balance Control
Using up all your credit every month is not ideal financial behaviour. Stick to utilising 30-35 percent of your credit limit. It’ll enhance your Credit Score.
Take It Easy
You can have as many Credit Cards as you like. Just be mindful to leave a gap of a few months between each application. You don’t want to appear desperate, do you?
Guard It with Your Life
Your Credit Card details are precious. Once you get your card, do not flash it around. Keep it securely in your wallet and do not divulge the PIN to anybody.
With these tips, you should be ready to get a Credit Card. Get started, right away.
4 Credit Card T.I.P.S. for 2017
2016 taught us the value of Credit Cards and a cashless economy. Here are some handy Credit Card tips before you get your plastic mate. Already an expert?
Pay Bills in Full
Don’t eye that ‘Minimum Amount Due’ figure on your Credit Card. Go all out and clear the bill in full.
Opt For Balance Transfer
If you’ve got hefty Credit Card dues, think of opting for a Credit Card balance transfer. Move to a new card issuer offering a lower interest rate on dues.
Research Well
Get the right Credit Card for yourself. A Travel Card for the globetrotter, a Cashback Card for the shopaholic. You get it, don’t you? Make the perfect choice and save big.
Direct Debit
No need to fret about payment due dates any more. Give instructions for a direct debit to your bank and automate your Credit Card bill payments. Easy-peasy.
Always remember, good credit habits mean a good Credit Score. Are you set for a Credit Card now?
How a Credit Card can help start a B.U.S.I.N.E.S.S.
Do you know a Credit Card (or two) can help you start a business? Here are some tips:
Buy a Website
Setting up a website is the best way to tell people about your business. Buying a domain is not too expensive and doing so with your Credit Card can earn you reward points.
Set It Up
You might need some furniture and stationary to set up your office, even if it’s a room in your home. Use your Credit Card to purchase the necessary items and earn cashback.
Flier Miles
Get an Airlines Credit Card if your work demands travelling. The joining bonus in the form of flier miles and discounts on hotels will help you lower the operating cost of your business.
Build a Credit Score
You can beef up your Credit Score by paying your dues on time. A good Credit Score will help you get amazing deals on Business and Personal Loans too.
You can explore our range of Credit Cards and get the one that best fits your business requirements.
Credit Card Tips for Beginners
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.
Stay Cashless
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.
Credit Cards to match your profile
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!
Why Cashback Credit Cards Are Popular
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 movies
Reward #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?
Raining Rewards
There are so many Credit Cards that give you amazing rewards when you shop. Why do you need cash?
Smart EMIs
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.
Cashback? Yes!
Credit Cards also give you cashback discounts. Are you still waiting to start shopping?
Discounts
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 Rates
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.
Annual Fees
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.
Grace Period
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.
Cash Withdrawal
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?
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.
Details
Rs.500 Amazon Voucher
100% PAPERLESS APPROVAL
Details
Details
Details
Details
Details
Details
Details
Amex Cards
Axis Bank Cards
Citibank Credit Card
HDFC Cards
HSBC Cards
ICICI Credit Cards
Indusind Cards
Kotak Credit Cards
SBI Credit Card
Credit Card
Credit Card
Credit Card
Credit Card
Credit Card
Credit Card
Credit Card
Credit Card
Credit Card
