It was the end of the month and Tony Kent was struggling to keep up with the financial requirements. He was praying for the payday so that he gets the money to solve his financial problems. Just when he was rummaging through his jeans pocket before giving it for laundry, he accidently found a few hundreds. This incident definitely made him very happy as he was in dire need of money.
A credit card can do similar wonders and make you feel on top of the world. Whether it’s paying bills or shopping, you can always depend on a credit card when you are low on cash. Enjoy all the rewards that the credit card offers and enhance your lifestyle. What many people do not know about credit cards is that it can provide insurance benefits too. People spend a substantial amount of money on buying insurance and paying premiums. However, with the credit card insurance benefits can be availed free of cost.
Insurance Covers offered by Credit Card
Depending on the type of credit card and the credit card issuer, the credit card can offer several insurance covers. Details about all of the benefits offered by the insurance will be provided with the welcome kit of your credit card. Some of the lesser known benefits of insurance that can be availed with credit cards are mentioned below:
Accidents are unexpected events and can happen to anyone. If there is an incident of accidental death, then the credit insurance waives off all the outstanding balances up to an amount of Rs.50,000 on the credit card. One must understand that this amount varies from one credit card issuer to another. In case, the credit card is not active, then the certificate of death must be provided with the claim.
Let’s say, you are taking a car on rent. You chose not to make the payment for the insurance that is offered by the car company. Unfortunately, the car that you took on rent suffered some damage due to a collision. Instead of making a payment for the damages from your own pocket, you can choose to claim for the rental car insurance that offers coverage for any car damage as long as the car rental has been paid using a credit card. However, personal injuries and theft of items kept inside the car are not covered under this insurance. Any damage caused to the other vehicle in the collision is also not covered under the rental car insurance claim.
The number of accidents is increasing on a daily basis and it is advisable that you get a personal accident insurance plan. However, the personal accident insurance scheme offered by credit cards can help you claim an amount between Rs.2 lakh and Rs.4 lakh, in the event of death or injuries due to road accidents. In case of an air accident, an insurance claim between Rs.10 lakh and Rs.40 lakh can be made. One must understand that the coverage amount will differ depending on the type of credit card and the credit card issuer.
No one likes to cancel trips. However, if there is an emergency situation, then trips do get cancelled. This suggests that you will end up loosing a substantial amount of money on the non-refundable flight tickets. In case you booked your tickets using your credit cards, the trip cancellation insurance policy will reimburse the loss that you suffered for your non-refundable tickets. It is very important to remember that these benefits are rarely provided with the credit cards. Any cancellation of trip caused due to pre-existing illness or weather turbulence is not covered under this insurance plan.
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I have applied Indusind bank credit card through online .I have not taken this card since have another credit card .I have not submitted any of my documents and the agent shared all the relevant details about the card process.There was proper response from bank end and i am really satisfied with the service .
Once I applied a credit card from HSBC, banker told will send an executive to collect the required documents. But at that time I was busy on my work so unable to provide it on particular time. Due to delay banker has closed the card process. It is annual fee chargeable of 500 rupees.
I have applied for SBI credit card through online .I have not taken this card since no proper response from bank agent. I have given my documents to bank agent without attestion but later in those documents my signature was there it was not secured and am unhappy with them.
I am using Axis bank credit card which was taken through bank directly.I am getting airport lounge access ,dinning will get 15 % discounts .The credit limit was 85000 and having salary account with axis bank.This credit card is much comfortable to use and easy going.
I have American Express Banking Corporation credit card which was taken through social media .The credit limit was really good, it was Rs.92000 .I am getting very good cash back offers & reward points which are useful . I am really satisfied with the service.
I have applied INDUSIND credit card since I was in out of station due to official work hence not taken the card. I have not given any of my documents .The agent shared the card process very clearly about the features and fees structure as well.The service was good according to me .
I have applied for indusind bank credit card through online there was no proper response from bank end hence not availed this credit card .I have submitted aadhaar and pan card for this credit card and these are the difficulties faced when applied for this credit card.
HDFC has offered pre approved card on 6 months back. Hence I have process the card directly from bank. Within 7-10 days I received the card. It is a life time free card. It is Freedom card. I use this card to purchase for TV and I converted to EMI on easy, then for shopping and groceries. The credit limit is 61K. I would suggest they need to update the card.
I am using Axis bank my zone card credit card which was offered by bank.I am getting minimum 5 % to 10 % discounts on shopping .The credit limit was very less and this was a life time free card .I am using this credit card almost 1 year .There are cash back offers as well as reward points which is very useful.This card is very easy to use and i am satisfied with the service .
I have been using RBL credit card last 7-8 months which was applied through other channel. It is annual fee chargeable of 999 plus GST. Only for 1st year fee is applicable and from 2nd year onwards free. The credit limit is sufficient of 80K but I am expecting up to 1L. EMI conversion is applicable with decent charge. I use for shopping, market purchase and recently I have purchased mobile and converted in to EMI. It is Bajaj card.
I have applied for Indusind bank cedit card through online.I have not availed this credit card since got the update i am eligible for this credit card and later got the update not eligible this was the issue.I have not subnmitted any of my documents .The agent gave a clear picture about the card process.If unable to process this credit card need to inform to customer that is my suggestion.
I got an annual fee chargeable card from INDUSIND. The verification process was done on time. They didn't shared the credit limit details. Banker has told in my existing credit card I need to be utilize more than one year with limit of 81K but so far I am holding the card for 8 months only. Hence the card process was closed from bank end.
I have applied a credit card from INDUSIND through online. At initial they told me to provide only payslip and id proof but later they asked to submit bank statement and many other docs which I am not interest to process for further closed the process from my end. They have not shared the credit limit.
I am using RBL credit card for more than a year. It is annual fee charge of 1,000 rupees plus GST and there is no wavier off option. The credit limit of 55K. They haven't enhanced the limit yet. I use for shopping and mostly for dining purpose. It is Bajaj card. I am yet to get benefits in this card. EMI is applicable but not yet utilized.
SBI has offered a annual fee chargeable of 1,700 rupees and there was an option of waiver off certain amount usage. It was Prime card. There were some good offers and benefits were applicable. But banker closed the card process and not shared the reason that is the only drawback from them.
I got a credit card offer from SBI through online. Received the call on time from bank end and the process was done on smooth. When I am applying they told it is a life time free card but later it was annual fee chargeable of 1,699 rupees and provided a waiver off option. Due to annual fee charge I have closed the card process from my end.
I am using Indusind bank credit card for the past 2 months which was availed through online .I am really satisfied with the credit limit and this was a chargeable card .There is a facility of converting EMI which is very useful.I have got this credit card on time and uploaded the documents through online .I have chosen this credit card since got the offer.
I am using HDFC credit card which was offered by bank.I am using this credit card almost 3 years. I am using this card very frequently. The credit limit was sufficient and this was a chargeable card and everything was good to me so far . The card process was clearly explained by the agent and it is accessible on all places.
I am using Citi bank credit card which was offered by bank.I am using this credit card almost 2 years and there was fuel benefits and this was a free card and everything was good to me so far on the usage.The process was smooth and satisfied with the service.
I have Axis bank credit card which was taken through bank end.This is a my zone credit card and the agent gave a clear picture about the card process .There are fuel benefits and this was a life time free card .I have got this credit card on delay basis .This card was delivered within 3 to 4 days of time .There was no issues faced and using this card for the past 1.5 years.