Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Loan on Credit Card Reviews

    • Bank Bazaar Customer Support
      "Good"
      0.5 3.0/5 "Satisfactory"
      I am very much happy, this is very much useful application this is financially helping application and the response is also good . Fast Service home loan, personal loan, car loan, credit card also available, it is a one platform, I am very much happy with Bankbazaar services.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Bank Bazaar Customer Support
      "Credit card application "
      0.5 5.0/5 "Blown Away!"
      The process is simple and user friendly as much as it can be. I am not sure whether the application will be successful or not. Good services - just one thing verification from bank should be done via e mail too in case some one misses the verification call by any means. All in all great services !!
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 26, 2017
    • Bank Bazaar Customer Support
      "Bank bazar is a excellent app"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar customer executive is very good, talking for any bank inquiry so it was an excellent job and for any query solving any problem so good thinking of executive and bank bazar. Com app very excellent and class one application any inquiry and even credit score is available.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Credit Card"
      0.5 5.0/5 "Blown Away!"
      Have made so easy to get a credit card according to your needs. Just submitted my application in just 5 mins and get approved. Really amazing to see that one day it will be so easy to apply for a credit card.thnx and congratulations to team bank bazar.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Experience ."
      0.5 4.0/5 "Great!"
      Excellent experience with bankbazaar, it provides good service. .fast reply. .I was also with bankbazar , my loan was approved with a lower interest rate through this site. Car loan ..personal loan credit card and other loan fast approval is provided by every bank all india.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jun 25, 2017
    • HDFC Bank Credit Card
      "Superb Customer services, you killed competition."
      0.5 5.0/5 "Blown Away!"
      Dear HDFC Customer care team, you have also been superb at providing resolutions. HDFC bank is my fav bank to use a credit card, I told 6 other banks cards but none of other banks services are even close to HDFC. Keep up the good work team. Cheers
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • Axis Bank Credit Card
      "Excellent service"
      0.5 4.0/5 "Great!"
      I am having the credit card with the Axis bank credit card and the service aspects are good one till now. Credit limit value is around 45000 Rupees and also its a kind of offer for me, also they have offered to make it as double. Online banking services are good one with the Axis bank credit card.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • American Express Credit Card
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      American express credit card is working in a good way but its not accessible everywhere and that's the major drawback, rest of the things were really good. Customer service is an excellent one for me till now, also I am very much happy with the responsiveness too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • SBI Cards Credit Card
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I would like to say SBI credit card is the best one for me because they have provided me with the lot of option and benefits to the customer. Its an excellent credit card and they have provided the ccredit limit value ,which is also a good one for me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • Axis Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Axis bank offered a life time free credit card for me. This is the first time I had received credit card from Axis bank. They are good in process and disbursed the card with good credit limit. I have no issues with the bank for the credit card services.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • HDFC Bank Credit Card
      "No Response"
      0.5 1.0/5 "Really Bad"
      I did not receive any kind of response from HDFC bank when I approached them for the credit card. Recently I applied for the credit card with HDFC bank. But my card application was not been processed by the bank and they just closed my application as I am a business man.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • ICICI Bank Credit Card
      "Not customer centric"
      0.5 1.0/5 "Really Bad"
      In order to get credit card I approached ICICI bank and also I had submitted my application. But I had not received the card from the bank. They did not process as I am a business man. It would be good if the bank is customer oriented because I have savings account with same bank for three to four years but then the bank is not ready to provide the credit card.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Great experience... Easy to apply.. "
      0.5 5.0/5 "Blown Away!"
      It's very easy to apply.. Great experience.. Need not to run behind bank.. Time saving.. Really worth.. Automated.. Thanks for giving free registration and not cutting any amount for first year.. Giving more cash back and rewards.. Thanks to bankbazar... Really great
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • SBI Cards Credit Card
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      SBI is excellent on the credit card, there are EMI facilities which are very convenient as there are a lot of flexible options. The customer support is good and the credit limit is good on my card. My card is accepted all over online and offline.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jun 24, 2017
    • HDFC Bank Credit Card
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      HDFC bank has been good in the credit card services and the offers are satisfactory. They have a lot of options on the card and it is very convenient to use the card as well. The statements are clear and the customer support is good and easy to reach too.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jun 24, 2017
    • Canara Bank Credit Card
      "Good To Use"
      0.5 5.0/5 "Blown Away!"
      I availed a life time free card from Canara bank. The bank offered good credit limit also there is an option to upgrade the limit in future. Basic documents are required to avail the card. I use this card for one and a half years, I never faced any issues because of my credit card. It is good to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • HDFC Bank Credit Card
      "Happy to Hold"
      0.5 5.0/5 "Blown Away!"
      HDFC bank has offered me a credit card too. I hold savings account with the same bank. The bank provided a life time free credit card which is very much comfortable to use. The credit limit provided by them is very much satisfactory and I do not have any issues with HDFC bank for the credit card. Customer service is overall good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • Citibank Credit Card
      "Very good card to use"
      0.5 5.0/5 "Blown Away!"
      Actually the Citibank reward points card has very good credit limit when compared with other bank card. The benefits with this card can be compared with other banks. I get reward points cash back offers and fuel surcharge waiver. The rate of interest is nominal with this card. I am happy using Citibank rewards card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Excellent...Staff and user friendly....Way to go bank bazaar"
      0.5 3.5/5 "Pretty good"
      Fast and convenient.... Satisfying.... Customer service is excellent...Follow up done by call centre staff is good... Uploading of documents wasn't difficult...good decision taken on my part...Can recommend to others without any doubt...
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 24, 2017
    • review Credit Card
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I do use SBI cards. The annual fee for the card is around 500 rupees. SBI is giving more reward points also I could convert all those points into cash. The credit limit is pretty good. Moreover there are no penalty charges or hidden charges with SBI. I never seen a Bank likes this, which is deducting the amount unnecessarily.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 24, 2017
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    Loan on Credit Card is Rated as "Excellent!" by 35811 Users

    Fees & Charges

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    Credit Card BYTES FROM OUR KITCHEN

    What is a Loan on Credit Card? - The uses of credit cards are many. Starting from cashless transactions to reward points and special deals, you can use credit card anywhere across the globe. Also, cardholders can avail pre-approved loans on credit cards within or over their credit limit. Similar to the usual loan schemes, the issuer essentially loans you the amount which you will be able to repay at a later date while being charged a definite interest rate.

    Features of a Loan on Credit Card:

    Different banks offer comprehensive loan scheme when it comes to loan on credit cards. Listed below are some of the features of loan on credit card.

    • Since most of the loan on credit cards are pre-approved, you need not submit any extra documentation, the loan will be processed and disbursed quickly.
    • With EMI schemes offered by the issuers, you will be able to break your expensive purchases into easy affordable instalments.
    • Some banks also offer loan against other bank’s credit card through Balance Transfer on EMI where you can transfer the outstanding balance on other credit cards to one credit card and pay the EMI.
    • Issuers also offer you the option of taking a loan within or over your credit limit.

    Eligibility for Loans on Credit Card:

    Most credit card loans are unsecured and do not require any collateral for the loan. Hence, the loan is offered to select cardholders only. Issuers have a stringent eligibility criteria when it comes to granting a loan on credit card. The cardholder should have a commendable credit history and a good purchase and repayment pattern to be able to apply for a loan on credit card.

    Quantum of Loan

    The quantum of loan on credit card usually depends on the credit limit. Some issuers also offer loan over and above the credit limit where the availed loan amount will not be blocked against the credit limit. Also, starting from a minimum purchase amount of Rs. 2000, you will be able to convert your purchases to loan and pay it as EMIs.

    Advantages of a Loan on Credit Card:

    • Most of the credit card loans are pre-approved and unsecured. You don’t have to submit any documents or collateral to avail a loan on credit card.
    • With loan on credit card, you have the option to convert your expensive purchases to easy monthly instalments.
    • Most issuers also provide you the option to transfer the balance outstanding from other cards to one single card and pay in EMIs.
    • Since a loan on credit card is pre-approved, it is easy to apply and is disbursed quickly when compared to other loans.
    • Most of the loans on credit card require no guarantor or post-dated cheques.

    Top Bank offering loan on Credit Card in India:

    • IDBI General Credit Card Loan (IDBI GCC)
    • IDBI Bank offers general credit card loan under the MSME portfolio for all individuals engaged in non-farm entrepreneurial activity. Assets acquired out of bank loan will be deemed as security. A minimum of Rs. 50,000 to a maximum of Rs.500000 can be availed as loan to meet the credit requirements of entrepreneurs.

    • Standard Chartered Loan on Credit Cards
    • Standard Chartered offers up to Rs. 500,000 as loan on credit cards. With interest rates starting at 1.17% per month and flexible tenures ranging up to 60 months, Standard Chartered loans on credit card is one of the most sought after financial product.

    • HSBC Loan on Phone
    • With the Loan on Phone scheme offered by HSBC, customers will be able to convert the expensive payments to easy instalments with low interest rates. Any purchase amount starting from Rs.2000 can be converted to EMI through just a call.

    • Kotak Mahindra Bank Personal Loan on Credit Cards
    • You can avail instant cash at low interest rates and zero documentation with Kotak Mahindra’s personal loan on credit cards. This loan on credit card is easy to apply, hassle free and is also disbursed quickly.

    • ICICI Personal Loan on Credit Card
    • “Cash-in select” scheme is offered to select ICICI customers based on their performance on ICICI credit cards. Customers can avail loans up to Rs.5 lakhs with multiple tenures ranging up to 36 months.

    • IndusInd Bank Loan on Credit Cards
    • IndusInd credit cardholders already have a pre-approved loan amount depending on the unutilized credit limit. Cardholders just to apply to instantly receive cash. Also, high value credit card purchases can be instantly converted to flexible monthly instalments.

    Compare Loan on Credit Cards from Different Banks:

    Bank/Card Issuer Quantum of Loan Tenures Disbursal Mode and Time Interest Rate
    HDFC Within or above the credit limit 12 to 60 months depending on loan type Credited to HDFC Savings account Competitive
    ICICI Up to Rs.5 Lakhs Options ranging up to 36 months Disbursal takes 7 to 8 working days Depends on the amount and credit history
    IndusInd Bank Depending on the credit limit Ranging from 6 to 36 months Credited to the savings account As per schedule of charges
    Standard Chartered Up to Rs.5 Lakhs Ranging from 12 to 60 months Credited in account within 2 days Starts from 1.17% per month
    HSBC Minimum is Rs.2000 Multiple tenure options Can be converted to EMI within 15 days of purchase 15% to 21% per annum

    FAQs regarding Loan on Credit Cards:

    1. How do loan on credit card work?
    2. When you make a cashless transaction with your card, you are essentially borrowing from the issuer. In the same way, you can avail loans based on your credit limit. You will be charged a certain interest rate for the loan.

    3. Can every person having a credit card get a loan on credit card?
    4. No. Every issuer has fixed eligibility criteria when it comes to loan on credit cards. This facility is offered only to select cardholders based on the credit repayment history and credit standing.

    5. What is the disadvantage of loan on credit cards?
    6. The interest rate will be comparatively higher and if the debt is not paid on time, you might incur significant penalties.

    7. What documents do I require to apply for a loan on credit card?
    8. Most of the loans on credit cards are pre-approved and require no collateral. You do not have to submit any documents while applying for a loan on credit cards.

    9. What are some of the factors that affect my eligibility for loan on credit cards?
    10. Issuers provide this loan to select cardholders having good credit rating and commendable credit repayment history. Also, improved income levels over the years have a positive effect on your eligibility.

    11. How is the loan on credit cards different from cash withdrawal using a credit card?
    12. The key difference is that limit on cash withdrawal is lower than that of loan on credit card. Also, the interest rates for cash withdrawal tend to be higher than that of a loan on credit card.

    13. Can I convert all my purchases to EMI?
    14. No. Generally, issuers have a cap on the purchase amount which can be converted to EMI. Also, certain issuers do not allow gold and jewellery purchases to be converted to EMIs.

    15. What will be the extra charges for a loan on credit card?
    16. You will be charged a certain amount as processing fee. Also, you might be levied a pre-payment penalty if you decide to foreclose the loan.

    17. I purchased a TV four months ago using my credit card. Can I convert it to EMI?
    18. Transactions made before a certain number of days (as specified by the issuer) can be converted to EMI. Generally, the purchases made before 15 to 30 days can be converted to EMI. Contact your issuer to know more about the purchase time period.

    19. What is the meaning of balance transfer?
    20. You can convert the balance outstanding on other cards to a single credit card and pay it through easy instalments.

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