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 State Bank Of India credit card through Shopping Mall.This card is a chargeable card for the past 5 months .I have got all the required details about the card process through the agent .I have got this credit card within a week time .I have not faced any drawbacks while submitting the documents.
I am having CIti Bank credit card which was availed through Bank direclty .I am using this credit card for the past 3 to 4 months .This was a free card and the credit limit was good and it was upto 75,000 and it was sufficient as well .I have got all the details about the card process very clearly through the agent.
One year before I had applied for a master credit card with AXIS bank. Once the verification done I received a card by 4 days. The credit limit is nominal before given for 25 thousands but now enhanced to 34 thousands. EMI option is applicable and charges are nominal. I use for shopping and fuel purposes I get reward points.
I had applied for a credit card with SBI on a month before which was processed through an online. My friend is working in that bank so process was done on smooth. But suddenly felt to not process for further for this card process so intimate to bank to close it.
I am using Indusind Bank credit card which was taken through Bank directly .I am having this card for the past 2 months ,I have got the credit within a week.I have got all the details about the card process very clearly .There are very useful reward points as well as cash back offers .I am really satisfied with the service so far .
I am having HDFC Bank credit card for the past 15 days only ,I have availed this credit card through Bank directly ,I have got a clear picture about the card process through the agent ,This was a free card and there was no difficulties faced while submitting the documents .I am really satisfied with the service .
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SHANUR ANISUR RAHMAN
Reviewed on Oct 12, 2019
From INDUSIND BANK LTD I am holding a credit card for the past 4 months before. I have applied for a card directly to them. It is a life time free credit card and the credit limit is given for 50 thousands only. EMI option is not applicable is applicable and charges are nominal. I use this card for medical and shopping purposes.
On 4 months before I have applied for a credit card with ICICI bank directly to them. It is a life time free credit card and the credit limit is given for 30 thousands only for this card. EMI option is not applicable. I use this card for many purposes.
I am having a credit card with HDFC bank for the past few months only which was processed through bank directly. It is a life time free credit card and the credit limit is much sufficient for this card. EMI option is not applicable. So far no issues I had faced from them.
I am using ICICI Bank credit card which was directly availed through Bank.I am using this credit card for the past 1 year,This was a coral card and got all the relevant information about the card process through the agent.This was a paperless approval and i a m comfortable on using this card.
I have Kotak Mahindra Bank credit card which was taken through Bank directly.I am using this credit card for the past 2.5 years and the credit limit was upto 2 lakhs it is really sufficient as well.There are really good reward points as well as cash back offers.I am comfortable on using this credit card .
For the past 2 years I am using RATNAKAR BANK platinum credit card through them processed directly. It is an annual fee chargeable of rupees 500. But the credit limit was given only for 35 thousands and yet to enhance it. EMI option is applicable and it is nominal. I use this card for fuel purpose. Based on the usage I get reward points.
I am holding SBI bank simply credit card for more than 2 years which was process through bank directly. It is an annual fee chargeable of 500 rupees.But the credit limit was given only for 10 thousands. There is an option for EMI and charges are nominal. I use this card for shopping and fuel purposes.
I have Yes Bank credit card which was directly taken through Bank.I am using this credit card for the past 6 months,This was a free card and the credit limit was really sufficient .I have got good reward points as well as cash back offers .I am really satisfied with the service .
I have State Bank Of India credit card which was direclty taken through Bank .I am using this credit card for the past 8 months only .The credit limit was pretty good t was upto 50,000,I have got my creidt card on time without any delay .I have got all the relevant information about this credit also through the agent.
I have Ratnakar Bank credit card which was taken through Bank .The credit limit was 40,000 and this was a free card ,Customer service is quite average .Cash back offers are very good and got all the required details about the credit card very clearly through the agent .
PNB charges are quite less and convenient. PNB card is very simple and there is no annual fee, financial charges and no late fee. I can easily convert the rewards points into cash by making a single call. PNB customer care support is very good and easily available for all the time. There is no such offers like other credit card.
There is some discount in online for SBI credit card. There is no hidden charges deducted so far and they are providing flexi pay option. The financial charges and late fee charges are less. They have provided me a credit limit of Rs. 1.50 lakhs and there is a annual fee of Rs. 450. I am using the simplysave credit card.
HDFC Credit card is better than other cards. I have a HDFC money back credit card so i get a rewards points whenever I'm doing the transaction or purchases those rewards points, i can easily converted into cash. There are lots of EMI conversion done from this card. If i purchase in online and converting those transaction into EMI at that time, there is no charges. Due to some personal reason, if a customer unable to make the payment on a due date, they are charging me a huge late fee and interest rate.
I have State Bank Of India credit card which was directly taken through Bank .I am using this credit card for the past 6 months only.The credit limit was good and it was 30,000 and this is a chargeable card.I have got god cash back offers as well as reward points ,I have got my credit card on time without any hassle.