With various credit cards being offered by different financial institutions in India, it is difficult to select one as the best available option. Additionally, personal preferences and spending habits must also be taken into consideration while making such a choice.
Consequently, these features should be checked and compared while selecting credit cards in India -
Few credit card users offer loan options to their users in case of a financial emergency. This can be availed online by paying a flat processing fee; the loan does not incur any interest if cleared within 90 days.
A very advantageous feature often offered on credit cards is that of cash withdrawal from ATMs. This should be repaid within 50 days and does not have any interest other than a processing fee.
Though offered on every credit card, applicants should compare reward points as well as related features. Furthermore, users should regularly check reward points related norms to maximize their benefits.
While most credit cards in
Credit cards have majorly transformed a cash-intensive economy like India post the demonetization. People now prefer to use plastic money for transactions across various verticals. The primary reason behind its increased usage is the convenience that these cards provide. Besides making a credit card payment for product purchases, users can now pay their utility bills every month through the card.
Credit card statistics to note
As of July 2019, the total number of credit cards stands at 50.3 million.
Around 10.8 million credit cards were added from September 2018 to September 2019.
The total amount of transactions (2018 – 19) made with credit cards is Rs. 6.07 Lakh Crore.
Credit card transactions increased by 29.8% at POS terminals.
Availing the best credit card
Financial organizations in India offer different types of credit cards with varying features and benefits. It is essential to choose the best credit card as per your requirements.
One of the leading NBFCs, Bajaj Finserv brings
Some numerous financial institutions and lenders introduce reward points to boost customers to utilize credit cards for all the things they desire to buy. Banks and NBFCs nowadays offer reward points on credit card transactions. It means the more you utilize the credit card, the more points you collect.
However, once you have collected the specific number of rewards points, you can redeem them for offers including gift vouchers, air miles, coupons, cashback, and so much more. It makes total sense to choose the best rewards credit card that provides you perks according to your spends.
Ways To Earn Reward Points
Before you get all excited, it is essential for you to know how you can earn these reward points. You can surely earn one reward point for expending 100Rs. offline and then two reward points for spending 100Rs. online. This way, the card provides you about 2 reward points for every transaction of 100Rs. On dining and abroad transactions.
If you’re a frequent flyer, then you can
You carefully look for best offers discounts when you buy groceries or make a holiday. Won’t it be amazing if your credit card could manage and get the best bargains for you? Financial institutions offer a host of benefits when you use your credit cards. Make a wise pick while choosing your card so that you can reap umpteen benefits later on.
Here are the key types of credit card that you can choose from:
1.Rewards:
(A) Fuel credit card: If you have high driving needs this might be the best choice for you. Financial institutions partner with fuel companies to offer advantages to people with such needs.
(B) Travel credit cards: These are also co-branded cards that give you cheaper fares on travel tickets. They can be collected on a daily basis commute as well. Additional advantages include airport lounge service and concierge services.
(C) Shopping credit cards: These are used specifically for everyday expenditures and can be both standalone and partnered. The standalone cards give equal
A credit card plays a crucial role in our day to day life. They not only facilitate us to pay large expenses, pay in EMIs but also provide us loan facility. Credit card loan is one of the hidden benefits of credit cards and most of the credit card holders have no clue about the same. Allow me to explain this biggest advantage of the credit card.
What are credit card Loans?
Credit card loans are identical to the personal loans with only one difference that it comes pre-approved, which means that you need not involve any of the documentation processes to get an instant loan on credit card.
The reason for this advantage is that you are getting a loan against our credit card which is already verified.
This is the fastest means to get an unsecured loan without any hassle. You can use the loan amount to fulfill your needs and pay back the same in EMIs.
Benefits of Credit Card Loan Facility
Getting an instant loan on credit card to cope up with emergencies is the biggest advantage of this
Do you wish to apply for the credit card? Now, you can apply for your credit card online while getting it approved at the same time.
Credit cards are great financial tools providing ultimate financial freedom in the modern era. If you are looking forward to getting your credit card, you can apply for the same online. If you are searching for the answer to how can we apply for a credit card, then applying for the same online turns out to be the best option. Thankfully, you can come across a myriad of banking and financial institutions including Bajaj Finserv offering the ease of applying for the credit card online –in a matter of just a few steps.
When you wish to apply for the credit card online, you can ensure that you are able to fulfill the eligibility criteria. Bajaj Finserv is a leading financial institution providing the ease of applying for the credit card online while getting its approval within 24 hours at the same time. You are only required to fulfill the eligibility criteria
With the increasing popularity of credit cards, financial institutions are reducing the formalities and eligibility to get the credit card instantly approved. Now when an individual applies for a credit card, it gets approved in a few minutes. Just know the current mandatory requirements that help for the quick approval. Here are a few tips to consider that will help to get quick approval of the card.
Emphasis on improving the credit score: A good CIBIL score shows your creditworthiness. As we know that credit cards are unsecured cards, you should work on improving your credit score.
Keep the required documents ready: Before you apply for a credit card, ensure that you keep all the documents ready like – proof of identity, proof of address, age proof, income proof, etc.
Pay outstanding debts: Companies like Bajaj Finserv look for the financial obligations of the applicant before issuing a credit card. Just pay the debts and know the ratio between monthly income and debts.
Fulfil
Credit cards offer great convenience, giving you access to funds that you can use to purchase an array of products and services. However, in order to gain maximum benefits basis your usage, get yourself a credit card that encompasses all your needs well. So, if shopping around the year is your thing, getting a credit card that offers you shopping for discounts and cashback will prove beneficial.
On the other hand, if your business demands frequent traveling and you end up booking most of your tickets at the last minute, a travel credit card is made for you. Study the various types of credit card available and then consider them based on your personality, requirements, and credit habits.
Here are some of the top ways of selecting a credit card in India -
Credit Limit
Just because you have a credit card does not mean that you can use it as much as you feel like for making purchases of any amount. This is why a credit limit is attached to your card and it goes without saying that the more
