Request received - loud & clear!
Returning you to where you were...
*Check eligibility to see cards you are eligible for
Today, credit cards are an inevitable part of life. A benefit, accorded to individuals with the means to repay a loan or obligation in the stipulated time (as proven by their analysed credit histories), credit cards are a common mode of purchase and payments. In India, almost all nationalized and private banks, alongside a sizable number of private and public sector banking institutions offer their patrons the unlimited advantage of highly personalized credit cards.
BankBazaar offers you a wide selection of these cards, alongside the option to apply for them directly online. Why would you need a credit card? Read on…
The fundamental advantage of owning a credit card is that it eliminates the need for liquid cash, thereby offering protection to your monies and seamless convenience to you. Instead of buying products or services with hard currency, a simple swipe at the retailer’s outlet is all that it takes. Alongside this convenience, credit cards offer a string of other benefits including,
Of course, the million dollar question. While the mechanics of using a credit card on a day-to-day basis isn’t too complicated, the associated back-end process associated with a simple card swipe is too technical for a common individual to comprehend. In actuality, the procedure is very simple and safe-
Borrowing from a popular axiom, ‘With great power comes great responsibility’, and the same holds very true in the case of credit cards. While a handy financial help, a source of ready cash and a safe and beneficial way to pay for your purchases, the misuse of this facility could be detrimental to your long term financial health. Credit card debt, defaulting on your monthly repayments or drawing up a massive pile of credit card purchases and consequently, a stiff interest rate are things to be constantly aware of. The best way to enjoy your credit card is responsibly and with caution and tolerance. While the temptation may be high to unleash a shopping spree with your brand new credit card, remember, the money you spend is not your own- it must be returned back, with interest and on time!!
BankBazaar, the helpful portal dedicated to comparing various banking products, including the comparison of credit cards, is a boon to any newbie, who is taking his/her first steps in the credit card universe. The reasons to apply for your first credit card with BankBazaar are many, the highlights of which are exemplified by the following-
Hassle Free Process-Strictly opposite to visiting a bank’s physical outlet, thereby incurring an expenditure of time, money and effort, applying for a credit card on BankBazaar is simpler and quicker. Plus, there are no documents to submit or verifications to affect immediately. Simple? It surely is. Compare Credit Cards- BankBazaar lists almost all the popular credit cards, as issued by the various domestic and international banks and other financial institutions. The simple credit card comparison helps you to choose the card that best suits your requirements and limitations. All of this, from the comfort of your home or work-station. Apply for Credit Card- Post the comparison, BankBazaar gives you the option to apply for your chosen credit card online, from its interactive and simple interface. Know it All- From such informational bytes as the latest happenings across the Indian credit cards landscape to important details as credit card eligibility, all the information you need, in one convenient package on BankBazaar. 24x7 Support- Apply for a credit card online and enjoy BankBazaar’s brand of superior customer support, applicable 24x7, 365 days a year.
Applying for a credit card on BankBazaar is a simple and non-taxing process. The following steps list this process clearly-
Amex is an American multinational financial service provider and a pioneer in offering credit cards with several attractive, irresistible variations. On offer are cards for shopping, lifestyle, travel, to access select lounges and other commonplace as well as luxurious benefits. The patron is entitled to earn reward and loyalty points that can easily be converted into selected products and services including air miles. Amex has proved itself to be a market leader and a visionary when it comes to credit cards and its usage in a developing market such as India. Also on offer are cash cards and traveller’s cheques from Amex, backed by a robust and responsive customer service initiative. A few of the highlights from Amex credit cards include zero lost card liability, attractive offers, variety of cards in its arsenal, 24 x 7 customer support, membership rewards, payback features, privileged loyalty points and an extra dose of travel through its air miles offer. Sounds too good to be true? Apply for the Amex credit card through BankBazaar and enjoy a refined banking experience.Citibank Credit Card:
As a division of Citi Group- a multinational financial service provider, Citibank is an absolute behemoth when it comes to credit cards on the national and international level. Its services in terms of credit cards are loaded with attractive benefits, and offer an irresistible variety, from lifestyle cards, shopping cards, fuel and travel cards to innovative options like the prepaid cards and corporate cards. With a powerful presence in the credit card industry, Citibank has set the benchmark for its competitors to aspire for in terms of quality, availability, features and customer support. Features such as reward points, easy EMIs, instant loans for your financial obligations and insurance benefits on your card make the Citibank credit card a serious contender for your personal banking needs. Apply through Bank Bazaar and enjoy the advantages of a multifaceted credit card like never before.IndusInd Bank Credit Card:
Founded in 1994, IndusInd Bank is the classic example of being ‘a novice by age but not by ability’. In fact, the bank boasts of one of the most recognizable line of credit cards with such products as the super-premium credit card, premium credit card, co- branded credit card and core credit card forming the crux of its offerings. Avail attractive features in terms of golf course membership, reward points, air miles conversion and instant loans for your financial needs, while being backed by an energetic and reliable banking institution. Find everything that can be expected from a world class credit card, and more, with IndusInd Bank credit card. Apply with BankBazaar today, and enjoy partnering a fast growing banking superstar through its attractive line of credit cards.SBI Credit Card:
SBI is one of the most trusted and in-demand banks in India that commands an attractive range of customer-centric and simplicity driven credit cards. Being a pioneer in almost all the product lines of commercial banking, SBI has also stepped very aggressively in the credit cards business. The products in SBI’s arsenal include premium cards, shopping and travel cards, classic cards and exclusive cards, each offering an amazing bonanza of benefits including free movie tickets, best in class concierge services, lounge access facilities, balance transfer facility, flexi payment in EMIs, reward points, online bills payment through pay net and a plethora of similar goodies. If you are looking for a reliable, comprehensive, simple and scalable credit card experience, SBI credit cards are the way to go. Apply through Bankbazaar today, and enjoy a different breed of credit card that was designed with you in mind.Axis Bank Credit Cards:
Axis Bank is a progressive bank with an impressive line-up of banking products and services. The Axis Bank credit cards are in a class of their own- offering range, flexibility and simplicity. The products on offer include the ‘Infinite Range’, the ‘Signature Range’ with flexi payment and travel benefits that are applicable to its co-branded cards and ‘My Cards’- exclusively designed for you. Axis Bank cards offer you numerous luxurious as well as everyday benefits like dining offers, airport lounge access offers, cash back, online bills payment, EMI conversion facility and lots more. Get the Axis Bank credit card advantage and put a new spin to your personal banking. Apply through Bankbazaar today!HDFC Bank Credit Cards:
HDFC Bank, a top bank in the Indian private sector has already rolled its sleeves to compete aggressively in the credit cards market. Every now and then, you will get acquainted with some special schemes and offers on HDFC bank credit cards, a range that includes featured cards, co-branded cards, super premium cards, professional cards, premium women, premium travel, premium card, regular card, commercial card and cash back card. Undoubtedly, the benefits and rewards attached to these cards are also pocket friendly like movie tickets, travel vouchers, golf club membership, air miles conversion, reward points, exclusive range of gifts, bill payment, EMI facility, cash-on-call, instant loans, dining offers and many more. Avail the HDFC Bank credit card advantage and enjoy a select range of exclusive offers and benefits. Apply through BankBazaar and be the proud owner of a HDFC bank credit card.
A credit card is a payment card issued by a particular bank for customers looking to avail instant credits to easily purchase goods and services without spending a single penny from their pockets. The bank extends a line of credit with which the user borrows money, to be paid to a merchant. The cardholder is required to pay back the borrowed sum of money subsequently to the lender bank along with extra interest rates.
Credit cards in India are available in different variants like Gold, Silver, Platinum, Titanium, Classic, Premium and Business, distinguished by the level of services they offer.
Specific to a customer’s requirement the following are also offered:
Customers need to get in touch with an executive from a bank of their choice and submit a filled-in application form with the required documents. The bank will process your application after appraising your credit history and will then approve the new credit card according to your requirements.
In India, banks charge the highest rate of interests for credit cards, from 36% to 42% per annum. A bank decides the interest rate for a particular customer based on his credit history, financial capability and also depending on the type of card he chooses. Applicants with good credit scores and regular payment patterns get the best deals on their credit card interest rates.
Banks in India have tied up with Visa, MasterCard and American Express (AMEX) to process credit card payments, connecting merchant accounts with the acquiring banks.
In India, banks generally offer credit cards to individuals above the age of 21 and with a steady monthly income. As part of their verification process, banks do a deep dive into the customer’s credit history and assess previous payment patterns to understand the customer’s financial situation. Only after ensuring that the applicant has the financial capability to repay the expenses incurred using a credit card, will the bank approve the customer’s application.
Yes, in India applicants are required to earn a minimum of Rs 75,000 to 1 Lakh per annum, though this criterion varies depending on the type of the card.
Annual Percentage Rate (APR) or the ‘’cost’’ at which a customer takes credit from a bank, is the simple interest rate charged by a bank on expenses incurred on a credit card for a year.
The best mantra while managing a credit card is to ‘’Pay as and when you can”. Delaying a credit card payment is not a wise option, as banks tend to impose high late payment fees and gradually increase the interest rates charged. The customer would actually end up paying way more than his original purchase amount.
Add-on cards can be taken for family members of the primary card holder with extra charges anywhere between Rs 125 to Rs 1000. The credit limit of the primary card gets carried over to the new card with similar features. Also customers can get a comprehensive bill with details of both the cards.
Global credit cards give a customer the leeway of instantly performing cashless transactions from any corner of the globe. Accepted worldwide, global cards give you the flexibility of spending in any foreign currency and later paying your bills in your local currency. A customer can also avoid the hassle of carrying huge amounts of cash or using traveller’s checks.
Credit card reward programs have been introduced by lenders to popularize the various cards they offer by rewarding a customer for transacting using their credit card. The cardholder is awarded points as per his expenditure for purchasing goods and services. The accumulated points can later be redeemed by customers for certain discounts and gifts as per the bank’s guidelines.
The Reserve Bank of India mandates the provision of multiple levels of authentication from banks, for customers using credit cards to make an online purchases. Additionally, customers are advised by banks to use their credit card credentials only in encrypted internet connections to avoid fraudulent transactions.
Customers can also use their credit cards as ATM cards and withdraw a stipulated amount of cash, preset by the bank as cash advance. Though this feature gives a customer access to instant cash, the bank charges very high interest rates for credit taken using this facility.
Soon, Chinese tourists traveling across India will be able to withdraw money (in the domestic Indian currency) from ATMs and use the services of point of sale (PoS) terminals, thanks to the strategic alliance between National Payments Corp. of India (NPCI)- a RBI backed agency that handles retail transactions in India, and UnionPay International, NPCI’s Chinese counterpart. This move was approved by the RBI, India’s apex bank, last month. NPCI has a network of 195,000+ ATMs and over a million PoS terminals in India that will now be available to the tourists from China.
Currently, the Chinese travelers cannot use their credit cards in India as the local infrastructure maintained by UnionPay International, isn’t supported by the American Visa Inc. and Mastercard Inc. This arrangement with NPCI is likely to resolve this issue and advance Chinese credit card spends and other financial transactions in India.
27th May 2015
Changing trends heavily influenced by the e-commerce industry seems to have done the trick. For the first time since February 2010, the number of credit cards in India has crossed the psychologically important mark of 20 million to stand at 20.29 million at the end of December 2014 as per RBI News release.
Industry experts are of the opinion that the surge in e-commerce coupled with progressing infrastructure in the banking system has led to this path breaking benchmark. The rise in total spends on credit cards of Rs. 17,437.1 crore compliments the surge in the credit card base. It must be noted that the overall spends has doubled from December 2011.
With the growth of the internet at high speeds, these stats will continue to head north in the years to come.
21st May 2015
The eagerly anticipated LG Watch Urbane, the pinnacle of Android wear and worthy competitor to Motorola’s Moto 360, is finally hitting India. This feature rich watch, priced at Rs. 29,990, will be exclusively available in India on Amazon India’s online marketplace. With such features as Bluetooth 4.0 connectivity, 1.2 GHz Quad-Core Qualcomm Snapdragon 400 processor, 512MB RAM and 4GB internal storage, the LG Watch Urbane has got it all. Amazon is selling this watch with attractive EMI options on HDFC, ICICI, Citibank, SBI, Standard Chartered and Kotak Mahindra Bank Credit Cards. Hurry, grab your own!!
20th May 2015
Uber, the global cashless taxi-hailing giant, is facing the realities of the Indian market by trying out cash payments for rides in Hyderabad. The city proved to be the most apt to try out the experiment owing to its sizeable and sophisticated rider and driver community.
Uber’s global success was due to its cashless model, allowing customers to ride taxis and be charged to their credit cards. It faced issues in India as the RBI mandates a two-factor authentication for credit card transactions. Last year, Uber had tied up with PayTM, allowing users to store a virtual wallet which they could top up through their debit cards, ATMs and net banking.
Its major competitor in India, Olacabs, has operations running in 40 cities, while Uber stands at 11. This is largely due to the fact that India operates largely on cash. Credit card users account for around 2% of the population, omitting a huge market for Uber.
Uber users will get an option of cash in the payment section in the top left corner which must be opted for before booking a ride. Customers are still required to have a valid credit card or wallet linked to the app. However, they are not required to have a minimum balance in the wallet to be able to book a ride.
18th May 2015
In tandem with its efforts to curtail fraudulent transactions, the Reserve Bank of India (RBI) has issued a fresh notification which directs all banking and credit card institutions in the country to issue only chip based, PIN enabled debit/credit cards to its customers. Despite earlier notifications, some banks are still issuing cards with magnetic strips which are highly risky and easily exposed to fraudsters.
The new set of rules were notified as per Section 18 along with Section 10(2) of the Payment and Settlement Systems Act of 2007. Majority of the POS (point of sales) terminal machines in India are capable of handling chip and PIN based cards. Effective September 1, 2015, all banks should by default, issue cards which are both EMV chip embedded and PIN enabled to its customers
EMV - Euro pay MasterCard Visa
PIN - Personal Identification Number
13th May 2015
Reserve Bank of India stated that Urban Cooperative banks cannot issue co-branded credit cards. However, they can issue general purpose cards, accepted by Visa / MasterCard and merchant outlets, for their customers. The Reserve Bank of India also stated that the Urban Cooperative banks cannot issue cards to non-members of the bank. As per the RBI, banks should ensure that the total loan amount and credit card limit approved should not exceed 10% of its total assets, as per its annual audited balance sheet.
12th May 2015
The Reserve Bank of India (RBI) approves of it, and industry experts are clamouring for it, tying up with India’s rapidly advancing e-commerce websites is the next big thing for Indian banks. Experts believe that the phenomenal reach of these new-fangled e-commerce players, even in smaller cities across India, will allow the banks to reach out to prospective new customers. These factors were mentioned in the PwC-CII report on digital banking technologies that was released on Tuesday. The report also highlights the importance of aligning with online aggregators for selling loans, quoting yours truly, BankBazaar for its influential work of facilitating Rs 3,000 crore loan disbursals last fiscal alone.
11th May 2015