A credit card can be a messiah in the times of cash crunch. The shopping needs only rise and not come down as the time goes on. Keeping this in mind, the use of credit card has been extended to purchasing even grocery items like vegetables, biscuits, pickles and much more.
There are a bundle of credit cards with exciting features available today. And not only the cards, even the ones that offer the plastic money are also huge in numbers.
On one hand, you have the favourite shopping and travel cards, the fuel and co-branded cards are also available to capture your imagination. You can apply for credit card online and get a quick approval on your application.
Benefits of Credit Cards
Reward Points – The use of credit cards do invite a lot of reward points for the customers to gain of. Shopping of a specific amount each time or shopping at a particular website fetches reward points. The rewards can be redeemed at various partner websites of the card issuers. However, the reward points expire after 2 years from the date of credit.
Discounts – You can lessen the payment of the goods and services by availing the discounts, which can be 1%-3% of the actual purchase price. The reduced price is always welcome in the age of inflation where the value of money is constantly eroded. Any saving can thus make it easy for you to live your life.
Cashback – A lot many tend to interchange cashback for discount and the other way round. But there is a difference between the two. A discount gives you instant saving by lessening the purchase price at the time of shopping. On the other hand, cashback does not reduce the price instantly on the purchase. Instead, a full price is deducted at the time of shopping and thereafter the applicable cash comes back into your account. For example- A 3% cashback on an item worth ₹10,000 means that you would need to pay 10,000 at the start. Then only, ₹300 would come back into your account.
Wide Accessibility – A credit card can be used at millions of online and offline stores across India and the world. Be it your favourite saree or the all-new iPhone, a credit card has a massive application. You can even withdraw cash from the ATMs using the credit card. But one should avoid doing so as the interest rate on the same can be very high.
Airport Lounge Access – Credit cards, especially travel cards, come with a feature of airport lounge access for the customers booking a ticket via the plastic money.
Complimentary Golf Sessions – Some cards do have complimentary golf sessions for the cardholders to enjoy.
How to Apply for Credit Card Online?
You can apply for credit card online by visiting the official website of the lender or an aggregator, which has with it the offers of several financial institutions. You could either find ‘Apply Now’ or ‘Apply Online’ while visiting the websites. Clicking the link will open a page, wherein you would need to submit few personal and professional details. Subsequently, your credit card application will reach the desk of the lenders. After checking the credit history and income, the bank or a non-banking finance company will issue you the credit card.
Credit Card Eligibility
While some credit card issuers do not keep the credit card eligibility criteria open, many do so. The criteria can be summarized in the following points.
- The age of cardholder should be between 18-70 years
- A spotless credit history needed with no default in the past.
- The individuals must have a notable residence and a stable source of income.
Best Credit Cards in India
It’s always good to have options so that you can pick the best for you. Some of the top-selling credit cards are shown in the pointers below. These cards have a bundle of reward points, discounts and other conveniences to enjoy.
- SBI Simply Save Card
- ICICI HPCL Coral Credit Card
- ICICI Instant Platinum Credit Card
- Axis Bank Select Credit Card
- HDFC Regalia Credit Card
- HDFC Doctor’s Superia Credit Card
- And Much More
So, apply for the card that meets your need in the best way possible. You may across some cards stipulating a minimum income to have for application approval. Therefore, it is necessary for you to keep an eye on the terms and conditions before applying for a credit card online.