Credit Card

What is credit card? 

A credit card is a credit facility to card holders individuals which is provided by banks, that allows customers to borrow some money within a pre-approved credit limit. Having a credit card is a great way to manage your finances during a cash crunch. It allows you to access your funds & making purchases and after you can repay this amount to the banks.

Best part of credit cards are it is widely accepted and offer great financial freedom when it is used judiciously. The credit card limit is set by the card issuer based on factors such as income and credit score, which decides the credit limit also.

The best feature of the credit card is, it is not linked to a bank account. So, whenever you swipe your credit card, the amount will be deducted from your credit card limit and not from your bank account.

Benefits of using a credit card

There are so many benefits to using a credit card to make purchases. That is not to say that there is no purchase of this money. Anyone who uses it gets the following benefits from using a credit card to pay cash or personal finances:

Building a good credit history

Quick cash source through 'absolute' emergencies

No additional interest if the bill is paid on time and in full every month
There is no liability as consumers are not responsible for immediately reported fraud charges
Consumer Protection ($50.00) Report fraudulent charges immediately if your card is stolen or lost
Type of Credit card and their features

There are many different lenders in India that offer credit cards and different types of credit cards offered. However, some categories have emerged as popular and common credit card categories. Read below to know about the most popular types of credit cards in India.


Travel credit card

Earn eligible Rider Points for travel credit cards, VIP airport lounge access and discounts on airline, bus and train tickets.

 

Jet Privilege Indus Bank Voyage Credit Card

Citibank Premier Miles Credit Card

Air India SBI Platinum Credit Card


Shopping credit card

Earn cash back and discount vouchers by shopping in online and offline partner stores with shopping credit cards.

 

Flipkart Axis Bank Credit Card

HSBC Cash back Credit Card

Click on SBI Bus Credit Card


Cash back credit card

Cash back credit cards offer 5-20% cash back on credit card transactions. These cards usually offer waivers for fuel surcharges, bonuses, reversal of annual fees, etc. Some of the best cash back credit cards in India are:

 

Axis ACE Bank Credit Card

HDFC Millennia Credit Card

Standard Chartered Super Value Titanium Card


Business credit card

Business credit cards are useful for covering the costs of expanding or growing a business. Some of the best business credit cards in India include:

 

ICICI Bank Business Advantage Black Credit Card

HDFC Business Money Back Credit Card

Axis Bank My Business Credit Card


Fuel credit card

Lower your overall transportation costs by saving on fuel costs year-round and get waivers on fuel surcharges with a fuel credit card.

 

Indian Oil City Titanium Credit Card

BPCL SBI Octane Card

HDFC Bharat Cash back Credit Card

Who can apply for a Credit Card

Credit Card Eligibility Requirements for Getting a Credit Card in India

- The applicant must not be less than 18 years old.

- The minimum income salary should be between 1 to 3 lakh rupees.

- The applicant must be either salaried or self-employed.

Our Credit Card Partners

HDFC BANK 

HDFC Bank is one of the India's largest credit providers. HDFC bank offers a large range of credit cards from the basic to premium. Best HDFC Bank Credit Cards listed below

HDFC Regalia Credit Card
HDFC Millennia Credit Card
HDFC Money Back Credit Card 
HDFC Bank Easy EMI Credit Card 
HDFC Diners Club Privilege Credit Card 
HDFC Bank Diners Club Rewards Credit Card 
HDFC Diners Club Black Credit Card 
HDFC Bank Diners Club Black Credit Card 
HDFC Titanium Times Credit Card 
HDFC Platinum Times Credit Card 

State Bank of India

SBI Cards is a joint venture of the State Bank of India and Carlyle Group to introduce credit cards in India. These cards are very useful and come with special benefits on travel, shopping, dining, entertainment, etc. The most common SBI credit cards are-

Simply SAVE SBI Credit Card
Simply CLICK SBI Credit Card
Air India SBI Platinum Card
Air India signature card
Air India SBI Signature Card
SBI STYLEUP Contactless Credit Card
IRCTC SBI Platinum Card
SBI Card ELITE
Club Vistara SBI Card
Yatra SBI Card
SBI Card PRIME
BPCL SBI Card
Club Vistara SBI Card PRIME

American Express

American Express offers premium credit cards loaded with shopping, travel and entertainment benefits. Some popular credit cards by American Express are-

American Express Platinum Reserve Credit Card
American Express Platinum Travel Credit Card
The American Express Membership Rewards Credit Card

ICICI BANK

ICICI Bank is among the best credit card companies in India and offers some of the amazing credit card options that not only let the users earn rewards and cash back but also help them make big-ticket purchases and pay in easy installments. Following are some popular credit cards by ICICI Bank-

ICICI Bank Coral Contactless Card
ICICI Platinum Chip Card – Visa
MakeMyTrip ICICI Bank Platinum Credit Card
MakeMyTrip ICICI Bank Signature Credit Card
ICICI Bank Ruby Credit Card
ICICI Bank Sapphiro Credit Card

CITY BANK

Citibank credit cards are chosen by many people because of the amazing benefits they provide. Premium reward programs, earning airline miles, and significant fuel savings are among the most popular benefits offered by Citibank credit cards. Here are some of the best cards-

Citi Premier Miles Credit Card
Citibank Cash back Credit Card
Citibank Rewards Credit Card

YES BANK

People prefer Yes Bank credit cards as they offer various benefits such as rewards, lounge access, movie vouchers and waiver for fuel surcharge.

YES Prosperity Rewards Plus Credit Card

Credit Cards offers by Other Banks & NBFCs in India:

Allahabad Bank Credit Card
Andhra Bank Credit Card
Axis Bank Credit Card
Bajaj Finserv Credit Card
Bank of Baroda Credit Card
Bank of India Credit Card
Bank of Maharashtra Credit Card
Canara Bank Credit Card
Central Bank of India Credit Card
Corporation Bank Credit Card
DCB Bank Credit Card
Dhanlaxmi Bank Credit Card
Federal Bank Credit Card
HSBC Bank Credit Card
IDBI Bank Credit Card
Indian Bank Credit Card
Jammu and Kashmir Bank Credit Card
Karur Vysya Bank Credit Card
Kotak Mahindra Bank Credit Card
Nainital Bank Credit Card
Oriental Bank of Commerce Credit Card
Punjab National Bank Credit Card
Tamilnad Mercantile Bank Credit Card
Tata Capital Credit Card
UCO Bank Credit Card
Union Bank of India Credit Card
Vijaya Bank Credit Card
Process For Applying a Credit Card

Application process of credit card is easy because the banks definitely want businesses and profit. Most credit cards allow online applications—but you have to go always to the bank and apply in person or call an agent over the phone. Card applications are expected to require at least the following personal information.

 

Name: You are required to provide your legal name.

 

Social Security Number or Individual Taxpayer Identification Number (ITIN): This is required to make a difficult credit withdrawal and is often the most important factor in determining whether or not you will be approved. There are some credit cards that do not have a credit check, but these are rare exceptions.

 

Address: You are required to have a valid Indian address.

 

Income: This will help to determine that how much credit you can get.

 

Living expenses: This fixed cost with your income will help the bank to determine that how much credit to give you compared to what you can afford to pay. 


 

Things to remember before applying for credit card & Where to Apply?

 

Generally, the best way to applying for a credit card is through the GRD INDIA website. If you apply online, you should get a quick response. Applying through person or over the phone may increase waiting times.

 

- Think about your needs

Before the application process, always give a little thought to your goals with the card as well. Do you need a card to establish your credit? Or in earning rewards? Or to pay off some debt? Knowing your goals beforehand will help you narrow down the options. For example, if you want an easy-to-use cash back card, a suitable option might be a card that offers the same flat rate on all purchases.

 

- Be prepared to strike your balance

Almost all of the companies of credit card —except just a few who have very bad credit—will make a rude inquiry or inquiry about your credit report. It means a banking inquiry will appear on your credit report and potentially negatively affect your score. Making too many transactions and withdrawals in a short amount of time will negatively impact your credit score, as it can signal to lenders that you are looking at too much credit at once.

 

- Your payment strategy

Make a plan to pay on time. One strategy can make you feel free is "set it and forget it" by setting up automatic payments from your bank account every month. You can also make notes on your calendar before the due date to make sure you don't accidentally miss a single payment.

Related Frequently Asked Questions

You can check whether you are eligible for a credit card by checking the eligibility criteria specified on our website by providing your basic information.

You can earn reward points with every purchase made with credit cards. After that, the accumulated reward points can be exchanged for another purchase.

The credit card can be actively used for international transactions. However, you will have to pay the transaction fee as stated in the Fore Thochen price. The fee is approximately 3.5% + GST. Also, you need to contact the bank to enable or disable the use of your card during international travel.

The first action in case of theft or loss of your credit card is to contact the bank. It creates a risk of alienation. You can use the customer care number to notify the authorities of loss or theft. By doing this, they cancel the existing card and start the new credit card process.

Bonus points can be redeemed once the points balance has been returned to the credit account. But we should know that some rewards come with time. This method must be used within the specified time or else it will become invalid. Therefore, it is necessary to carefully read the consent form, which shows the power of writing and the results of the payment.

Additional credit card facilities are provided by the issuer to the primary applicant. It can be used by cardholder's relatives including spouse, children, parents and siblings. Additional credit holder should be at least 18 years of age. It includes all the benefits offered with a basic credit card and the basic applicant can set a credit limit for the card.

The Bank sets the limits for credit card purchases and withdrawals at its sole discretion. The default limit is specified in the contract letter and the customer is notified at the time the card is delivered. Standard aspects considered when setting the limit include the applicant's income, credit history, and loan/debt/equated monthly installments.

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