Patiala is one of the biggest cities in Punjab. Its the states educational hub. Patiala is also the fast emerging industrial growth center of the state of Punjab. With a population of about 1.4 million and a literacy rate of 89.95%, Patiala has a large potential list of users for credit card. Given the rapid development and commercialization we are experiencing in the country, the perspectives towards shopping, entertainment and other commercial sectors have seen drastic changes. Hence schemes such as credit cards find themselves being extensively used. The whole state of Punjab is quite urbanized and Patiala is another example of that urbanization. The city has remarkable literacy rates, low high school dropouts and a high sense of self-employment. All of these reasons make the city high on purchasing power. As a result, the city has one of the highest number of vehicles per capital in the country, beating metropolitan cities and most 2 tier cities. The city is closely connected to other major cities in the state, making it grow at a much faster rate than most tier 2 cities in the country.
Such growth would make people spend a lot more than they own, and hence comes the need for credit cards. Credit card system is one where the banks allot you a certain amount of money which belongs to the bank into your account, which you can use throughout the month. At the end of the month a bill is generated for the amount utilized by you from the credited amount. You are required to pay off your bill along with a particular interest on the amount used. What this does is that it allows you to use money even when you dont have any! These days credit cards have become fancier and more attractive because that banks offer benefits like cash back, reward points, interest free credit and discounts when you make purchases from certain outlets.
How to get Patiala Credit Card on BankBazaar.com in 3 simple steps?
Anyone with a fixed income, aged above 21 & favourable CIBIL credit score of over 800 can get a credit card.
The credit limit will depend on various factors like your income, repayment, CIBIL score, etc. Your credit limit can be increased or decreased depending on your last years spending and repayment history
Yes, you can get an Add-on card but, it will totally depend on the offers the credit card issuer is running at a given point of time. There will not be a separate credit limit for the add-on card.
You should immediately inform your credit card issuer about the fraud transaction.
If your credit card is lost or stolen inform your credit card issuer within 24 hours and block your card immediately for any fraudulent transactions. Ask your card issuer to send you a new card which generally gets delivered in 3-4 working days.
Basically, Visa, MasterCard and American Express are three popular payment networks available in India. Payment Networks are not credit card issuers your credit card is issued by banks or other financial institutes.
A grace period is interest free period for you to pay your credit card balance in full without any interest rate charges. The grace period is calculated based on your billing cycle and not from the date of the transaction.
Most credit card issuers do not charge you any joining fees. Some may charge you but they might reverse those charges in your first credit card statement.
Most issuers waive off annual fee for the first year and then charge a minimum amount of Rs. 500 as annual fee.
The finance charges will wary for each card issuer and type of card like Platinum, Gold, Titanium or any special credit card. Generally credit card interest rates start at 2.5% per month (30% per annum) to 3.75% per month (45% per annum).
Yes, every card issuer will charge you a late payment fee ranging from Rs 300 to Rs 600.
Yes, every card issuer will charge you some percentage of the transaction value for the foreign currency transactions. It is generally around 3.5% of the transaction value.
Credit Card issuers provide the following credit card payment options:
Documents required for Credit Card:
Credit Cards Charges
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