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Credit Card

Best Credit Cards

Last Updated 25th Jun 2022
Bank List of Popular Credit Cards
SBI Yatra Card, ELITE, Unnati Credit Card , PRIME
HDFC Bank Platinum Times Card, Titanium Times Card, Jet Privilege HDFC Bank World Card, Regalia Card
Axis Bank Platinum Card, Insta Easy Card, My Zone Card, Flipkart Axis Bank Credit Card
Standard Chartered Bank Super Value Titanium Card, Manhattan Platinum Card, Platinum Rewards Card
  • Option to get lifetime free credit card
  • Apply for a credit card and get options like high rewards card, cashback card and others
  • Use credit card to convert purchases in EMIs and reduce your burden of paying whole bill at one time
GET FREE CREDIT REPORT

Credit Card Comparison of All Banks

Credit Card Interest Charge Per Month Joining Fee
ICICI Bank 1.99% to 3.50% Nil to ₹ 1,25,000
SBI 2.50% to 3.50% Nil to ₹ 4,999
HDFC Bank 1.99% to 3.60% Nil to ₹ 10,000
Axis Bank 2.50% to 3.40% Nil to ₹ 10,000
Citibank 2.50% to 3.25% Nil to ₹ 20,000
Standard Chartered Bank 3.49% to 3.49% Nil to ₹ 499
HSBC Bank 2.49% to 3.35% Nil to ₹ 3,499

What is a Credit Card‭?

A credit card is a thin plastic rectangular piece of metal or plastic card issued by a financial institution such as a bank or non-banking financial institution that allows you to borrow money for a pre-approved limit. Banks determine the credit limit based on factors such as credit score and history. Higher your credit score, the higher limit you can avail yourself on your credit card. Unlike a debit card, the money is deducted from the pre-approved limit of your card as you swipe the card for making any payments.

Top Credit Cards in India

Diners Club Black Card
Diners Club Black Card
Category
Lifestyle
Joining Fee
₹ 10,000
Annual Fee
₹ 10,000
Interest Charge
1.99%
Jet Privilege HDFC Bank World Card
Jet Privilege HDFC Bank World Card
Category
Travel and Airline
Joining Fee
₹ 2,500
Annual Fee
₹ 2,500
Interest Charge
1.99%
Jet Privilege Diners Card
Jet Privilege Diners Card
Category
Lifestyle
Joining Fee
₹ 10,000
Annual Fee
₹ 10,000
Interest Charge
1.99%
Infinia Card
Infinia Card
Category
Lifestyle
Joining Fee
₹ 10,000
Annual Fee
₹ 10,000
Interest Charge
1.99%
 Emeralde Credit Card
Emeralde Credit Card
Category
Cashback
Joining Fee
₹ 12,000
Annual Fee
₹ 12,000
Interest Charge
1.99%
Premier Master Card
Premier Master Card
Category
Low Fee
Joining Fee
Nil
Annual Fee
Nil
Interest Charge
2.49%
Rewards Card
Rewards Card
Category
Shopping
Joining Fee
₹ 1,000
Annual Fee
₹ 1,000
Interest Charge
2.50%
Unnati Credit Card
Unnati Credit Card
Category
Rewards
Joining Fee
Nil
Annual Fee
Nil
Interest Charge
2.50%
Rewards Domestic Card
Rewards Domestic Card
Category
Shopping
Joining Fee
₹ 1,000
Annual Fee
₹ 1,000
Interest Charge
2.50%
Insta Easy Card
Insta Easy Card
Category
Low Fee
Joining Fee
Nil
Annual Fee
Nil
Interest Charge
2.50%

How do Credit Cards Work?

  • Credit cards are used to purchase the items of your choice online or in stores or to pay your bills.
  • In either way, as you use your card, your card details are sent to the merchant's bank, which is then authenticated by the bank to process the transaction.
  • Your card issuer will verify your information to either approve or decline your transaction.
  • In case the transaction is approved, the payment will be made to the merchant. The available credit limit will also be reduced by the same amount.
  • You have to pay all the payments at the end of your billing cycle. To make payment, your card issuer will send you a monthly statement showing all the transactions for that month, including your previous balance and new balance, due date, and your due minimum payment.
  • You will have to pay an additional penalty if you do not pay your credit card bills between the date of purchase on your card and the due date listed on your statement.

Benefits and Features of Credit Card

As discussed above, a credit card allows you to purchase goods and services on credit and pay it back on a later set date.‭ ‬It is preferred over other modes of payment as it eliminates the need to carry cash everywhere.‭

  • To build your credit score : Disciplined swiping of a credit card can help improve your credit score.‭ ‬The reason being,‭ ‬instant credit card issuer companies will report your payment activity to the credit bureaus.‭ However, if you make complete and timely repayment of your monthly bills, it will help improve and build your credit score faster.
  • To avail instant loan : You can avail loan against your card if you have a good credit score.‭ ‬You also have the option to convert your purchases in Credit Card EMIs which can be paid during a pre-agreed loan tenure.‭ ‬The advantage of pre-approved credit card loans is that they have the fastest time when compared to other loans.‭ ‬You do not need any additional documents,‭ ‬while in case of a personal loan,‭ ‬some level of documentation is required.‭ ‬The interest rates of loans against these cards usually start from‭ ‬11.50%‭ ‬per annum onwards and their tenure can go up to five years.
  • To earn cashback and reward points : A credit card also helps you to earn cashback and reward points. ‬These cashback and discounts reduce the cost of purchases.‭ ‬ You can also redeem these points to purchase goods or services from partner stores.‭ ‬Hence,‭ ‬doing more online transactions using these cards will help you earn more such benefits.
  • To save money on grocery shopping: For many people,‭ ‬grocery shopping is a regular task and therefore,‭ ‬no other option comes into our mind other than using these cards.‭ ‬Most of the cards have been affiliated with supermarkets,‭ ‬which means you can earn some additional cashback or discounts on your everyday shopping.‭ ‬The more you spend,‭ ‬the more you get a discount through these cards.
  • To cut the cost of existing debts: The main advantage of using them is that it helps you get out of the vicious cycle of debt that only grows worse over time because of compounding interest rates. If you owe money on an existing credit card, you have the option to reduce the cost by transferring the outstanding balance to another such card which has a lower interest rate.
  • To plan an international trip:  If you are planning an overseas trip,‭ ‬using the best travel credit card will yield multiple benefits.‭ ‬Nowadays,‭ ‬international credit cards offer a low or no foreign currency transaction fee.‭ ‬Also,‭ ‬some cards offer international customer assistance which is helpful during your much-awaited trip.‭ ‬Plus,‭ ‬a lot of travel-oriented cards offer special discounts on flight tickets,‭ ‬car rentals,‭ ‬hotel bookings,‭ ‬etc.
  • To earn free travels and hotel stays: Credit card apply online that offers rewards and perks on hotel stays.‭ ‬You can redeem the points for a free flight or a free hotel stay.‭ ‬You can make the best use of complimentary amenities for an exotic vacation or weekend getaway.
  • Helps to save time: A credit card eliminates the need for you to carry cash everywhere. It also avoids the trouble of searching for ATMs and in turn, saves your time of visiting them.
  • To track your expenses: Credit cards help you to keep track of your day-to-day expenses.‭ ‬Your statements include the name of the merchant,‭ ‬date of the transaction,‭ ‬and amount spent.‭ ‬Some cards also provide the year-end summary that helps while paying taxes.

Credit Card Rewards and Points

Each time you use a credit card, you accumulate certain reward points based on the card and the bank. You have the option to redeem these points to get gifts and vouchers. Here are some credit card rewards and points that you can avail with your credit cards:

  • Welcome Gift
  • Complimentary Airport Lounge Access
  • Free Travel Insurance
  • No Cost EMI
  • Add-on Cards

How to Use a Credit Card?

It is essential to use your credit card wisely to reap maximum benefits out of your credit cards. Here is how you can use your credit cards:

  • Paying Credit Card Bills : You must pay your credit card bills on time as delay in credit card payment can result in accrual of interest on your credit cards.
  • Track your Spends : You must check your credit card statement periodically to track your spends and limit them as per your repayment capacity.
  • Making high-value purchases : If there is any high value purchase that you are willing to make, you should do it at the beginning of the billing cycle. It will help you to get the longest interest-free period.
  • Choosing Credit Card Limit : Always choose a credit card as per your repayment capacity based on your income and other obligations.
  • Checking Credit Card Statements : Keeping a check on your credit card statements helps you to know about the rewards and benefits associated with your cards.

Types of Credit Cards in India

The number of credit cards available today are in hundreds or probably in thousands, spread across multiple categories with varied benefits. Below are some of the popular credit cards:

  • Balance Transfer Card : The credit cards with balance transfer allows you to transfer the outstanding balance of any credit card to another card. One of the crucial reasons you may go for a balance transfer credit card is to avail lower interest rates on your credit card. Here are the top 3 banks that offer balance transfer facility on credit cards.
  • Rewards Card : The rewards cards are designed to suit shoppers. When you use a rewards card to make a purchase, you earn certain rewards points. For example, some cards will give 4 reward points for each ₹ 100 spent, or 6 reward points for each Rs. 100 spent. The reward varies with bank to bank.
  • Business Credit Card : These cards are designed for companies, corporates, big and small businesses and partnerships. The card is mainly held by the employer but can also be issued to employees in which the employer can cap the credit limit.
    • SBI Platinum Corporate Credit Card
    • HDFC Business MoneyBack Credit Card
    • ICICI Bank Corporate Credit Card
  • Cashback Card : Everybody like to earn some money while spending some, that’s why cashback is so popular. The amount of cashback will vary for each issuer.
  • Co-branded Cards : Many issuers collaborate with brands to come up with credit cards that has special discount and deals for that brand. Some examples of co-branded credit cards are; Yatra SBI card, HDFC Snapdeal credit card.
  • Credit cards for Women : Some credit cards are specifically designed for women. It provides cashback, rewards and exciting deals for women on various kinds of transactions such as shopping, dinning, surcharge waiver, etc.
  • Secured Credit Cards : A credit card against which you are required to submit a certain amount as deposit is called the secured credit card. Under this, you are required to submit the amount equal to or slightly more than the alloted credit limit. This card is best for those who are new to credit or wants to improve his credit history.
  • Prepaid Credit Card : As the name suggests, this card is prefilled with some amount. Usually this type of credit card is used as forex credit card. These cards are as good as debit card since the amount you spend will from the money you deposited earlier.
    • HDFC MoneyPlus Credit Card
    • State Bank Smart Payout Card
    • ICICI PayDirect Card
  • Premium Credit Cards : As the name suggests its a credit card for premium customers. It offers premium services and offers such as club memberships, dinning privileges, etc. Such cards has high minimum spending limits and high income as an eligibility criteria.
  • Student Credit Card : These credit cards are specifically designed for colege students. The student should be above 18 years, and need to submit employment document and income tax return.
    • SBI Student Plus Advantage Credit Card
    • HDFC Multicurrency Platinum ForexPlus Chip Card
    • ICICI Bank Student Travel card

Which is the Best Credit Card for you?

There are different types of credit cards in the market. For instance, lifestyle credit cards, premium credit cards, travel; credit cards. You should choose the credit cards as per your requirements.To get the best credit card, you can compare online credit cards. Here is the list of best credit cards for you.

  • Shopping Credit Card : Citibank Rewards Card,Citibank Cashback Card,Citibank Rewards Domestic Card
  • Lifestyle Credit Card : HDFC Bank Infinia Card,HDFC Bank Diners Club Black Card,HDFC Bank Jet Privilege Diners Card
  • Travel Credit Card : HDFC Bank Jet Privilege HDFC Bank World Card,HDFC Bank Infinia Card,HDFC Bank Jet Privilege Diners Card
  • Low Fee Credit Card : HDFC Bank Infinia Card,HDFC Bank Diners Club Black Card

How to Apply a Credit Card Online‭?

Good internet is all you need for a credit card apply online with instant approval.‭ ‬Nowadays,‭ banks are providing quick service and approving credit cards within a day or two. Here are the steps that you require to apply for a credit card online:

  • Visit your bank's website and click on the credit card‭ '‬apply online‭' ‬option.
  • Fill out the application form,‭ ‬which contains your personal details such as name,‭ ‬date of birth,‭ ‬address,‭ ‬contact number,‭ ‬pan card number,‭ ‬etc.
  • Post that,‭ ‬you will get a call from a credit card representative of the bank,‭ ‬who will guide you through the entire application process.
  • Once approved,‭ ‬a representative from the bank will come to your house and collect the required documents.

Apart from applying for a credit card online,‭ ‬you also have the option to choose your card offline.‭ ‬You can visit the bank directly to apply for a credit card.‭ ‬Also,‭ ‬you will be required to provide important‭ ‬credit card documents such as identity proof,‭ ‬pan card,‭ ‬and address proof to the bank.‭ ‬Once the documentation is done,‭ ‬it will take not more than‭ ‬7-10‭ ‬days to get the card delivered to the mentioned address.

Credit Card Eligibility

Credit Card Eligibility varies based on the internal credit policies of the bank and the purpose for which the card is availed.‭ ‬Some of the basic eligibility parameters include:

Basic ParametersDescription
AgeMinimum 18 years of age
IncomeMust be salaried, self-employed or businessperson
Savings accountMust hold a savings account in their name
EmployerMust be private or public ltd/govt/recognised
Credit ScoreGood Cibil or credit score
Existing relationshipWhether or not the applicant was ever associated with the bank
Annual and renewal feesSome high-income category holders may get waiver on the annual and renewal charges
Repayment recordBank may increase credit limit if the credit card usage is disciplined and consistent

Credit Card Interest Rates and Charges

The late payment of monthly dues,‭ ‬payment less than the minimum monthly due amount attracts charges or hefty penalty on your credit card.

The entire unpaid balance on your credit card bill is chargeable based on the applicable credit card interest rate.‭ ‬Along with the outstanding balance,‭ ‬any new spending on the card will also be subject to interest,‭ ‬until the entire balance has been paid off.‭ ‬You should always compare credit card benefits along with interest rates of various banks to choose the best one with a lower interest rate.

The interest rates for credit cards are stated as yearly,‭ ‬as well as on a monthly basis.‭ ‬The yearly rate is known as the Annual percentage rate‭ (‬APR‭)‬.‭ ‬Unlike an interest rate,‭ ‬which refers only to the interest charged on a debt,‭ ‬APR is the combination of the interest rate and any other costs or fees involved in procuring the loan.‭ ‬This includes any additional costs associated with the transaction.‭ ‬APR on an online credit card can vary between‭ ‬36-50%.‭ ‬Defaulting or delaying your bill payments can lead to a late penalty on your accumulated debt,‭ ‬thus ruining your credit score.

Credit Card Payment

Credit cards run on a monthly billing cycle,‭ ‬which is defined as a period between billings.‭ ‬During the billing cycle,‭ ‬any purchases made by the card are recorded in your monthly statement.‭ ‬Then,‭ ‬at the end of the billing cycle,‭ ‬you are billed for the purchases done by you during a particular period.‭ ‬Your next billing cycle will start with whatever balance was left unpaid at the end of the previous billing cycle.‭ ‬The billing cycle is followed by a grace period.‭ ‬Suppose your billing cycle is from‭ ‬5th January to‭ ‬4th February,‭ ‬and the due date is‭ ‬20th February.‭ ‬This period,‭ ‬from‭ ‬4th February to‭ ‬20th February is the grace period that is generally offered on credit cards.‭ ‬Any purchases made during this period will be part of the next billing cycle.‭ ‬Credit card bills must be paid on time,‭ ‬i.e.,‭ ‬before the grace period ends,‭ ‬after which the balance will be subject to interest.‭ ‬You can make an online credit card payment by logging in to your net banking account. Here are some other modes through which you can make your credit card payment:

  • AutoPay
  • Online Payment Option
  • NEFT/RTGS
  • Mobile App
  • Cheque

How to Get the Best Credit Card‭?

With a plethora of credit card offers from multiple banks,‭ ‬it often becomes difficult to choose the right credit card.‭ ‬Here are some steps to choose the best credit cards:

  • Check your credit score : Before applying for the best credit cards,‭ ‬you must always check your credit score.‭ ‬If your credit score is low,‭ ‬it may increase your chances of rejection of your credit card application or even if you are eligible to get a card,‭ ‬it might come with a lower credit limit and high-interest rates.‭ ‬Therefore,‭ ‬it is important to track and maintain your CIBIL score continuously.
  • Compare interest rate or APR for different cards : Annual percentage rate‭ (‬APR‭) ‬or interest rate is the cost of borrowing on the card if you do not pay your outstanding bill by the due date.‭ ‬You can compare the APR for different cards and can choose the one with a lower interest rate.
  • Carefully analyze your spending habits : Most credit card offers are aimed at a specific type of customer segment by offering cash backs and benefits on a particular type of transaction.‭ ‬For example:‭ ‬While fuel cards come with higher cashback on fuel transactions,‭ ‬travel cards provide air miles,‭ ‬lounge access at the airports,‭ ‬and hotel stays.‭ ‬Similarly,‭ ‬some cards also offer up to‭ ‬5%‭ ‬cashback on utility spends.‭ ‬Therefore,‭ ‬one must carefully analyze his/‭ ‬her spending and then opt for a card offering maximum benefits.
  • Choose a higher credit limit : Credit limit refers to the maximum amount a credit card holder can withdraw without incurring any penalty.‭ ‬Exceeding this limit leads to an over-limit fee on the amount exceeded.‭ ‬A credit card issuer can increase or decrease the credit limit of existing cardholders based on a review of credit score and repayment history.‭ ‬Having a higher credit limit provides more flexibility to a customer to meet emergency expenses.
  • Compare joining bonuses and rewards : Many credit card offers attractive joining bonuses and welcome benefits in the form of bonus reward points and vouchers.‭ ‬Also,‭ ‬check for the expiration date of your reward points.‭ ‬While some issuers offer reward points for‭ ‬2-3‭ ‬years,‭ ‬there are some whose reward points never expire.‭ ‬Therefore,‭ ‬take into account the monetary value of joining bonuses and expiry date as well while comparing the best credit cards option.
  • Annual fees and penalties : Credit card issuers make money by charging fees every year on the card.‭ ‬Some of the essential charges include‭ ‬-‭ ‬joining fee,‭ ‬annual fee,‭ ‬late payment fee,‭ ‬cash advance fee,‭ ‬and rewards redemption fee.‭ ‬Therefore,‭ ‬always prefer a card that offers several benefits in the form of cashback,‭ ‬welcome vouchers,‭ ‬discounts,‭ ‬or reward points outweigh the annual fee and joining fee.‭ ‬There are also penalty charges for paying your bill late or going over your credit limit.‭ ‬Hence,‭ ‬go for a card with a reasonable fee.

How to Increase Credit Card Limit?

A credit card limit is the usage limit of your card that is set by your lender. Here are some tips that can help you to increase credit card limit:

  • Credit Score : Your credit score is the key to increasing the credit limit of your card. If you repay all your dues on time and have not defaulted on any payments, it will help to boost credit score and card limit.
  • Credit Utilisation Ratio : It is the limit that you use against your total available credit limit. Experts suggest that your credit utilisation ratio should not exceed 30%. Thus, to increase credit limit you must maintain a healthy credit utilisation ratio.
  • Income Proof : If there is an increase in your source of income then you must apply for a higher credit limit as banks tend to increase credit card limit if your income has improved.
  • Pay off your debts : Lastly, to increase credit card limit you must clear all your existing dues and can apply for a new credit card or apply for an upgrade of the existing card.

How many credit cards should a person have?

There is no specific number to that question because the number of credit cards that you should own depends on your situation. At the same time, it is advisable to have at least a single credit card to avail of the associated benefits with credit cards. Having more than one credit card depends on whether you need the extra credit lines and can also repay the bills with interest on time. It is because failing to pay your bills on time can hurt your credit score badly. If you need multiple cards you can apply for an online credit card and get instant approval on your cards.

Debit Card vs‭ ‬Credit Card,‭ ‬Which is Better‭?

‬While both the cards look similar in appearance,‭ ‬they function differently. A credit card allows you to make purchases without spending any of your own money at that moment. You have to pay back the money at the end of the billing cycle along with the Interest. Debit Cards, on the other hand, linked to your savings account automatically deducts money from your bank account as soon as the transaction is done. You do not have to pay any interest later.

FAQs

What is Add on Credit Card‭?

Add on credit card is an additional credit card issued under the original or primary card. This card can be issued to family members, spouses, parents, and children of 18 years and above. Every credit card has a limited number of supplementary cards that can be issued, and each has the same credit limit. The primary credit cardholder is responsible for paying the overall outstanding due to primary and supplementary cardholders. In case the payments are not made before the due date, the primary cardholder will be liable to pay the interest charged.

Can we get a credit card with a bad credit score?

Yes, you can get a credit card with a bad credit score. However, with the bad credit score, you will be eligible for a basic credit card, which has the least offers and low credit limit or a secured credit card.

How can I get my first credit card?

You can get your first credit card when you have at least 6 months of work experience in the same organization and have a monthly salary above ₹ 15,000. Almost all banks issue a basic credit card, which serves as an entry gate for new to credit individuals.

What is the billing cycle‭?

The billing cycle is the period between billings in which your bill amount is calculated.‭ ‬The billing cycle may vary and can range from‭ ‬25-40‭ ‬days but can also be shorter or longer depending on your credit card.‭ ‬Suppose,‭ ‬your credit card bill generates on the‭ ‬7th of every month.‭ ‬The bill you get every month will contain all the expenses made in the previous month.‭ ‬Any purchase made on the‭ ‬8th of a month will be added to the next billing cycle.

What Is the Credit Card Interest Rate?

The credit card interest rate is the charge or price you pay for borrowing the money through your credit card.

What is the grace period‭?

The grace period is the period between the end date of the billing cycle and your bill due date.‭ ‬In this period,‭ ‬you have to pay all your dues without having to pay any interest or late payment charges.

What is difference between debit card and credit card?

The debit card is issued against your savings account. It helps you use the funds that you have already deposited in your account. Whereas, a credit card gives you instant credit by paying for the things you want to buy.

How long does it take to get approved for a credit card online?

On average, it takes about 1-2 working days for your credit card application to get approved. If you apply for a credit card from online marketplace, you can get instant approval on your application by filling the form.

What are the common types of credit cards?

Some of the common types of credit cards are; cashback cards, online shopping cards, travel cards, lifestyle cards, and premium cards.

What does 'minimum due' mean on a credit card statement?

On a credit card statement, 'minimum due' means the amount which you must pay for that month to avoid any penalty for missing your credit card payment.

What Is Credit Card APR?

APR stands for Annual Percentage Rate. Credit card APR is the annual rate of interest applicable on that card.

How can I avoid paying interest on my credit card?

If you want to avoid paying interest on your credit card, then repay the credit card bill each month. Every credit card has a certain grace period during which no interest is levied, and if you pay off the credit card within this period each time, then no interest will be levied on your purchases. However, if the interest gets levied once then, it will be applicable immediately for your further purchases.

What happens if I only pay the minimum payment on my credit card?

Paying only the minimum amount once in a while will not cost you much other than one month’s extra interest. However, if you will pay the minimum amount regularly, then you will pile up an enormous credit card debt in no time.

What happens if I overpay my credit card balance?

When you overpay to your credit card issuer, your credit card balance goes in negative. It’s not a worse situation to be in. However, you should still try to avoid it. This is because your money will be locked up with a credit card issuer as you can’t withdraw that amount, and it will be earning them interest instead of you.

What are the precautions you need to take to prevent credit card fraud‭?

You have to follow the following precautions if you want to prevent your credit card from frauds‭ ‬-

  • Don't leave personal information such as your date of birth and password etc.‭ ‬lying around at home,‭ ‬in your vehicle or at work.
  • Choose a unique PIN and never share it with anyone.
  • If you receive a replacement card,‭ ‬you must destroy the old one
  • If you don't receive a reissue or replacement by the time your card expires,‭ ‬contact your card issuer.
  • Don't share card information over the phone,‭ ‬or email to anyone,‭ ‬not even with the customer care.
  • Make sure that the website you are using is secure before transmitting the card information and keep anti-virus and anti-spyware systems up to date.
  • Notify the card company when you are going away on a trip.‭ ‬That way,‭ ‬they will monitor the use of your card for any suspicious activity while you are away.

What are the other terms and conditions that you should be aware of while availing a credit card‭?

We always advise our customers to read the fine print of the loan agreement before signing it.‭ ‬Some of the indicative terms that should be checked are:

  • Annual fees in the first year and at the time of renewal,‭ ‬especially if you opted for a discounted or no annual fee card.‭ ‬Get a written commitment that in case of zero annual fees credit cards.
  • Late payment charges in case you do not pay the minimum amount due before the due date.
  • The interest rate on the outstanding balance of the credit card,‭ ‬in case you do not pay off your card bills.
  • Cash advance charges if you need to swipe your card at an ATM.
  • Charges for spending more than the prescribed credit limit.
  • Requirements of prescribing to add on insurance cover etc.
  • Other hidden late payment charges such as revocation of reward points and other benefits.

How does the card issuer determine your credit limit‭?

The prospective card issuer determines the credit and cash withdrawal limits of the cardholder.‭ ‬These limits are communicated to the customer at the time of card delivery.‭ ‬Some key factors that may influence the decision of the card issuer include the credit score,‭ ‬income,‭ ‬past track record,‭ ‬company category you are working with as well as your existing relationship with the bank.

How to convert my big purchases using a credit card to EMI?

Several banks in India allow you to convert your big credit card purchases to EMI. Follow the below-mentioned steps to exercise this facility. Purchase an item of your choice. Evert bank has specified values over which you can convert your purchase to an EMI. Once you’ve made the purchase, place your request to convert the same to EMI. Further, choose the tenure for EMI. Your bank will then calculate the interest which is payable by you on your EMI. It may also charge a processing fee at the beginning of the transaction. Finally, the EMIs payable by you will be charged to your credit card account.

Can I apply for a credit card online?

Yes, you apply for a credit card online by visiting the official website of your bank. You can also compare the best credit card options before applying for a credit card on their website.

How can I redeem my reward points?

You can redeem your credit card reward points as discounts & cashback offers on various products through different modes such as net banking, mobile banking or calling credit card customer care.


Credit Card Reviews 3/5  by 2 customers
MyLoanCare Service
3/5.0
Banks Service
3/5.0
Govind Bhai Darji, Ahmedabad
Reviewed on 14th Oct 2019
2.5 / 5 stars
SBI Credit Card Availed in Jun 2019

Good job.

Apurv , Gandhinagar
Reviewed on 29th May 2019
3.5 / 5 stars
ICICI Bank Credit Card Availed in Nov 2018

It was great. Excellent customer service.
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    TCS has signed a deal with SBI to digitalize and transform the online onboarding processes of SBI customers and will further enable the client to expand its e card issuance.
  • 2022-03-28 : Indian Banking System Reports Addition of Credit Cards
    The banking system of India has reported net additions of approximately 1.5 million credit cards in February. The number is highest in the past 21 months, up 165% y-o-y, taking the total base to 71.7 million.
  • 2022-02-23 : MakeMyTrip Fintech Arm Launches Global Credit Card
    MakeMyTrip Fintech arm, TripMoney and SBM Bank India have joined hands to launch a rupee-denominated secure credit card, TripMoney Global Card.
  • 2022-02-17 : Kotak Mahindra Bank Partners Ezetap for PoS Solutions
    Kotak Mahindra Bank Ltd said it has partnered with Ezetap to provide integrated point of sale (PoS) solutions across 4,000 locations in India.
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