Credit Card

A Credit card is a card issued by banks which will enable you to access your “credit limit" determined by the issuing authority and this credit will serve as a loan for you.

From shopping rewards to travel benefits to the best discounts and deals, we help you find the best credit card matching your lifestyle and needs.

When it comes to a credit card, instead of providing you with the entire loan amount in cash, the bank will allow you take as much as the credit limit on your credit card and you will have a fixed date on which you will have to repay the amount.

There are two big advantages with credit cards. First, you can continue to make purchases through them, even if you do not have adequate funds in your bank account. Provided you keep paying your credit card bill in full and by the due date, your credit card transactions come at zero extra cost. advantage is the benefits credit cards offer in the form of cashbacks, rewards etc.

Credit Card

Cardholders can enjoy the following benefits that come with their credit card-

Welcome Offers: Most credit cards these days come with welcome benefits in the form of gift vouchers, discounts or bonus rewards points.

Reward Points or Cash Back: Every time you make a purchase on your card, you receive reward points, air miles or direct cashback credited to your account. The accumulated reward points can be redeemed to avail gifts and merchandise whereas cashback is directly applied to your card account. Air miles can be used to book flight tickets at the discounted rates.

Fuel Surcharge Waiver: Almost all the cards come with this benefit under which whenever you refill your vehicle, the surcharge will be waived off provided that you spend a certain amount.

Airport Lounge Access: Some credit cards also offer a certain number of complimentary lounge visits in a year at domestic airports and international airports. Travel Cards and premium cards especially offer these benefits.

Insurance: Credit cards also offer insurance and canopy accidents up to a particular amount. It may be an air accident coverage, lost card liability cover or an overseas hospitalization cover.

Cash Advance: You can also withdraw cash directly from an ATM using your credit card. This is quite beneficial in times of emergency when you need some urgent cash.

General, here are the eligibility criteria:

Nationality: You should be a citizen of India or a non-resident Indian (some banks extend credit cards to NRIs).
Age: You should be at least 18 years old. In some cases, the minimum age to apply for a credit card is 21 years.
Employment status: You have to either be salaried or self-employed and have a steady source of income.
Income: Most banks will require you to meet their minimum income requirement before they approve your card application.
Credit score: A good CIBIL score, with no history if default goes a long way in making sure that your credit card application is approved.