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A credit card is basically a plastic card provided/issued by banks. It allows you to borrow money from the provider to purchase whatever you want, be it a flight ticket, food, gadget etc. At the end of the billing cycle, you have to repay the principal amount borrowed along with the interest amount. It can be used for both offline and online purchases.
Thus through credit card, you can manage your urgent expenses without having to worry about cash-flow or having hard cash at hand. You can apply online for a credit card and receive the same within a day or two. Many banks offer benefits on credit cards, such as welcome gifts, exclusive privileges, rewards, airport lounge access, fuel surcharge waiver, lifestyle and travel facilities, air miles, cash-back, etc.
At loanbaba.com, we will provide you maximum information about different types of credit cards and its providers, and acquaint you with the features and benefits of these financial products.
There are several features attached to credit cards. Depending on the provider and type of credit card, the features will differ. Some of these are mentioned below.
Below-given are the reasons as to why owning a credit card is important:
When a financial institution issues a credit card, a revolving account for that card is created. When you receive the credit card, you can utilize it to make purchases on credit. The credit is basically the amount you have borrowed from the card issuer. You have to repay the outstanding amount with interest within the billing cycle or at the end of the same. There is a credit limit set and you should try not to exceed this limit.
You need to simply have the card swiped at merchant stores to make payments. The transaction is authenticated by entering the PIN number. In case of online payments, at the checkout section, you will have to authenticate the payment by providing the PIN or one time password (OTP). You can also check your credit card balance anytime and keep a check on the credit utilization.
The eligibility for a credit card depends on the provider and the type of card you are applying for. Below-mentioned are eligibility criteria for credit card.
You need to submit a photocopy of the documents, and not the original. The provider may ask for the originals, only to verify the photocopy documents. Below-mentioned are documents needed to apply for credit cards:
Banks offer credit cards that cater to different needs, preferences, and tastes of customers. Below, we have mentioned the major categories for which a credit card may be issued.
Below-mentioned are some of the things to keep in mind before applying for a credit card:
Loanbaba is partnered with HDFC Bank for credit cards. You can apply for any of the HDFC Credit Card from the listing below.
Loanbaba is a well-integrated and a reliable platform for finances services and products. Right from loans to credit cards, the website provides the best options. It gives a detailed insight into the financial service pr product from top banks and financial institutions, so that you can compare these, and select the ideal one.
Given below are some of the important questions you may have about Loanbaba Credit Card.
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