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Looking for a credit card?

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What is Credit Card?

A credit card is a financial instrument offered by the bank to the customers to borrow money as per there requirement to buy goods and services. All credit cards have an agreed amount of money that can be used as needed, repaid, and borrowed again.

This approved amount or pre-set limit depends on the creditworthiness of the customer with certain terms and conditions set by the lender.

A credit card is the most used and widely accepted financial instrument for purchasing goods and services.

Credit Card – Pros & Cons

Flexibility – Every credit card has approved limit which customers can utilize as per his need, repay and borrow again. The credit card comes with built-in flexibility.

Repayment Options – This is another advantage available with a credit card. Customers can decide the repayment option; they can pay back the entire used amount or they can pay partially. They can also convert the used amount in installment and repay monthly.

Rewards – Many credit cards come with reward options that are associated with the utilization.

Grace Period – Every credit card has a grace period of 25 – 30 days. Customers can use the money to buy goods and services and pay back within the time period.

Secure – Carrying a credit card is far better and secure than carrying a lot of cash

Credit Score – Using your credit may help you to improve your credit score.

High-Interest Rate – the Interest rate charged by the borrower is high.

Penalties – If the borrower is unable to pay the used amount whole or partial within the granted time then the lender will charge a certain amount as penalty.

Overspend – Many times the ease of having a credit card results in overspending.

Credit Score – Using your credit carelessly may impact your credit score adversely.

Benefits of Credit Card or Why Should i Apply for a Credit Card?

Worldwide Acceptability – Credit cards are accepted anywhere and everywhere.

Backup – Credit card acts as a backup at a time of financial crunch as you can always use it to meet your day-to-day needs.

Digital Payments – The world is changing fast. Most of the payments happen today are digital so credit card becomes a must have a financial instrument.

Pre-approved Money – Credit card comes with a pre-sanctioned amount which can be used as per the need.

Buy Today Pay Later – If you don’t have the money now, no worries, you can do the shopping now and pay later as most of the credit cards have a 25 – 30 days’ grace period and carry flexible repayment options.

Ease of Payment – This is another advantage available with a credit card. Customers can decide the repayment option; they can pay back the entire used amount or they can pay partially. They can also convert the used amount in installment and repay monthly.

Rewards – You can avail amazing rewards and cash back options on your purchase through the card.

Discounts – Sometimes your credit card may become a buddle of joy for you as there is a good discount available at many restaurants just by paying the bill using your credit card.

Choosing a Credit Card

Many individuals have this question in their mind which credit card to choose out of so many available options. To make your life easy here are some tips: –

Identify Your Yeeds – Why you require a credit card? Answer this question honestly as it will help you to understand which card is best for you. If your requirement is to use that card to pay your utility bill, grocery, kids school fees, fuel, etc., then look for a credit card with cash back option and fuel surcharge waiver.

Your Spending Behavior – By this, we mean how and where you spend your money. If you spend a lot of money in dinning, then it is a good idea to look for a credit card with good discounts and rewards on dining. If you are a frequent flier, then look for a credit card which gives you air miles on purchasing air tickets through credit card.

Interest Rate & Fees – Consider the interest rate and fees before finalizing the credit card.

How can i Apply for Credit Card?

How can I get a credit card? Consider us as your “Sathi” in your financial wellbeing. As we say we are here to help you by turning the financial complexities into simplicity. We will get the best deals for you.

Follow the simple steps: –

  • Fill the form with complete and correct information
  • Choose the credit card from the options
  • Click on submit
  • We will do the rest

Consider us as your “Sathi” partner in your financial wellbeing.

Types of Credit Cards

Basic Credit Card – This type of credit card is offered by the banks to the customers with a pre-sanctioned limit which can be used as per the requirement. The limit is sanctioned as per the credit score of the customer and other criteria’s of the bank without any security or collateral.

Secured Credit Card – As the name suggests, this kind of credit card is issued by the bank backed with a security deposit. In case the customer is unable to pay the outstanding amount of the card bank will use the deposit to recover the outstanding amount. Secured credit cards are issued to customers with a low credit score. Click here to know more and apply for a secured credit card.

Prepaid Credit Card – This is again a secured credit card issued by the banks against the prepayment made by the customer. This is just like a debit card where you have your own money and you can use it as per your need.

Types of Credit Card by Features

Payback Credit Card – Cashback is an important benefit associated with the cash back credit card. If you do shopping using your cash back credit card, you will get some money back or you will have an opportunity to get some incentive as a percentage of money spent by you using your credit card. This is a smarter way to spend money and making some earnings out of it. The cash back percentage varies from card to card and bank to bank. Few cards have a higher percentage of cash back as compared to others. Click here to apply for a cash back credit card.

Rewards Credit Card – The key word for this card is a reward as many different reward schemes are associated with the reward credit card, such as a 20% discount on dining or travel. These rewards are offered by the banks to promote credit card utilization. Click here to apply for a reward credit card.

Travel Credit Card – If you are a frequent flier this is the best credit card for you. Every time you book tickets you will get some reward or incentive in the form of travel miles or a 20% discount on your ticket or hotel booking. You can redeem these rewards with airline bookings. Be a smart traveler and save some money by using a travel credit card. Click here to apply for a travel credit card.

Entertainment Credit Card – You can use this credit card for entertainment purchase and save some money as this card allows get some rewards in the form of cash back or points which you can redeem on your next entertainment purchase. Payless and enjoy more! Click here to apply for an entertainment credit card.

Fuel Credit Card – a Credit card with this feature allows you to get a certain percentage of cash back on fuel purchase. You can also avail a certain percentage of fuel surcharge waiver. Click here to apply for a fuel credit card.

What is Cash Back Credit Card?

Cashback is feature or benefit of a credit card. As the name suggests, this type of credit card will give you cashback benefit on the usage. Let’s understand this with an example, suppose your credit card has a benefit of cashback of 5% on the spent. In the month of January, you have spent 20,000/- INR using your credit card which means that you are eligible to receive 1000/ INR as a cashback.

Isn’t it Amazing!

There are banks which provide cashback credit cards to grab more and more customers. Now you know what is cashback credit card. If you want one, click here to apply a higher percentage of cashback credit.

5 Benefits of cashback credit card

Spend More Pay Less – Isn’t is amazing? Yes, with cashback credit cards you can get a percentage of total spent back as a reward.

Monthly Savings – Imagine your monthly expenditure is 30,000/ – INR and you do all the expenses with your 5% cashback or money back credit card, 1500/- INR is your monthly savings.

Guaranteed Discount – Cashback percentage can be treated as a discount which the customer will get the spent through the credit card.

Higher the Cashback Percentage Higher the Rewards – As you know amount received as cashback depends on the cashback percentage and the amount spent. So always look for higher cashback credit card. click here to apply a higher percentage of cashback credit.

Spend Now and Pay Later – You can use credit card to meet the current need and pay the money later as every credit card comes with a credit period.

What is Life Style Credit Card?

As the name says, lifestyle credit cards are invented to promote the spending on things or activities which are essential to enhance the lifestyle of the credit cardholder, lifestyle cards gives you extra benefits when you spend on entertainment, dinning, appraisal or anything related to lifestyle. Lifestyle credit cards are very popular among the people between age group 22 – 28 Years.

Various Credit Card Charges

Nothing is free in this world. This holds true with the credit card also. There are various types of charges associated with credit cards. Let’s understand them in detail as they have financial implications.

Annual Maintenance Charges – This is also known as annual fees which are charged annually for the use of credit card. Many times to promote the credit card banks waive this charge for the first year however applicable from second year onwards. Before taking the credit card make sure that you know about the annual maintenance fee.

Interest Charge – Have you ever seen a credit card statement which is a summary of your credit card utilization. It shows all the transactions made in a period of time. This statement also shows the total due amount and minimum payable amount. The minimum payment amount is generally 5% of the total due amount. Bank gives options to repay either the full due amount or partial or minimum due amount. If you pay minimum due amount bank will charge interest on the remaining amount which is known as interest charges. Bank will charge interest at a rate of 3% to 4% monthly levied on the outstanding amount which becomes 36% to 48% annually. This is a very high-interest rate. This is the earning of the bank. We recommend to our customers to pay the total due amount always rather than paying the minimum due.

Late Payment Charges – Credit card statement shows the due date for the payment which means the last date to pay the due amount. If the customer has not paid the due amount fully or minimum before or on the last date that the bank will impose a penalty which is known as late payment charges.

Cash or ATM Withdrawal – You can use your credit card to withdraw cash from the ATM. This cash withdrawal will be treated as the loan taken against your credit card and hence bank will charge a transaction fee of around 2.5% and interest on the amount withdrawn from the credit card. Bank will charge interest at a rate of 3% to 4% monthly levied on amount withdrawn from the credit card which becomes 36% to 48% annually. This is a very high-interest rate. This is the earning of the bank. We recommend to our customers never withdraw cash from your credit card as the interest charged by the bank is very high and starts from the first day. There is no interest-free period for cash withdrawal.

Goods and Service Tax – GST is applicable at 18% on the interest and late payment charges. GST will be paid by the customer.

Card Replacement Fees – This fee is applicable in case you have lost your card and you apply for a new one. This fee varies.

Over Limit Fees – This fee is applicable on the overutilization of your credit limit. This fee varies from bank to bank.

Various Credit Card Providers

Credit Card From The Bank: – Bank performs many functions and offers many products. A credit card is one of the products offered by the bank. All Indian banks provide a credit card to individuals.

Credit Card From Public Sector Banks: – Banks which are operated and owned by the state or central government are known as government banks or nationalized banks. Here is the list of Public sector banks.

A Credit Card From Private Banks: – Private banks are in the same business as public sector banks or government banks.

List of Nationalized Banks in India

Credit Card From ALLAHABAD BANK Credit Card From IDBI BANK LTD.
Credit Card From ANDHRA BANK Credit Card From IND BANK HOUSING LTD.
Credit Card From BANK OF BARODA Credit Card From INDBANK MERCHANT BANKING SERVICES LTD.
Credit Card From BANK OF INDIA Credit Card From INDIAN BANK
Credit Card From BANK OF MAHARASHTRA Credit Card From INDIAN OVERSEAS BANK
Credit Card From CANARA BANK Credit Card From JAMMU & KASHMIR BANK LTD
Credit Card From CENTRAL BANK OF INDIA Credit Card From ORIENTAL BANK OF COMMERCE
Credit Card From CORPORATION BANK Credit Card From PNB GILTS LTD.
Credit Card From PUNJAB & SIND BANK Credit Card From UCO BANK
Credit Card From PUNJAB NATIONAL BANK Credit Card From UNION BANK OF INDIA
Credit Card From SYNDICATE BANK Credit Card From UNITED BANK OF INDIA
Credit Card From STATE BANK OF INDIA

You can avail a credit card from any public sector bank.

List of Private Banks in India

Credit Card From City Union Bank Credit Card From Axis Bank
Credit Card From Dhanlaxmi Bank Credit Card From ICICI Bank
Credit Card From Federal Bank Credit Card From HDFC Bank
Credit Card From Karur Vysya Bank Credit Card From Bandhan Bank
Credit Card From Lakshmi Vilas Bank Credit Card From Yes Bank
Credit Card From Nainital Bank Credit Card From RBL Bank
Credit Card From South Indian Bank Credit Card From Kotak Mahindra Bank
Credit Card From Tamilnadu Mercantile Bank Credit Card From DCB Bank
Credit Card From IndusInd Bank Credit Card From IDFC
Credit Card From RBL Bank

You can avail a credit card from these private banks.

Documents Required for Credit Card

List of documents required for a CREDIT CARD: –

Identity Proof – / PAN Card & Aadhar Card, 2 Passport Size photographs (anyone)

Residence Proof – Passport / Driving License / Voters ID/Lease Agreement / Utility Bill (not more than 3 months old) (anyone).

Income Proof

Salaried – Latest 3 months Bank Statement (where salary/income is credited), Salary slips for last 3 months

Self-employed – Audited financials for the last two years, Latest 6 months Bank statement, Office address proof / Office ownership proof, Proof of continuity of business.

Lifetime Free or Zero Fees Credit Card

Normally credit card comes with an annual maintenance fee charged on yearly bases. To promote credit cards many banks waive these fees for the first year and charge from second year onwards and there are many banks offering lifetime free credit cards which means that there will be no or zero annual maintenance fee for the lifetime. This is an important point to be aware of and consider before applying for the credit card. If you are looking for a life time free credit card, we can help to get one for you. Click here to apply.

How to Get a Credit Card With Low or Bad Credit SCORE?

We can help you to get a credit card with a bad credit score however we recommend you to first take corrective measures to improve your credit score. Click here to improve your credit score. Individuals with a low credit score are treated as risky profile customers by the bank still we can identify and arrange the best available credit card for you as we are associated with a few banks who are ready to offer a credit card with a bad credit score. Click here to apply.

Best Credit Card 2020

  • HDFC Bank
  • Yes Bank
  • RBL
  • Indusind Bank

Best Credit Card 2020 - Features

  • TBD
  • TBD