News About Credit cards In India

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What is a travel credit card?

Travel credit cards come in many variations, but the main three categories include:

Co-branded airline credit cards.

Co-branded hotel credit cards.

Financial institution rewards cards. 

Airline credit cards

Airline credit cards include options like the Citi® / AAdvantage® Platinum Select® World Elite Mastercard®, the Delta SkyMiles® Gold American Express Card and the United℠ Explorer Card. These cards, and other airline-related options, earn miles in the respective airline’s loyalty program, which you can redeem for a flight when you have enough piled up. Terms apply. 

Hotel credit cards

Hotel credit cards, such as the IHG® Rewards Premier Credit Card, the Hilton Honors American Express Surpass® Card and the Marriott Bonvoy Boundless® Credit Card, perform a similar function and award you with hotel points redeemable for free nights. Terms apply. 

General travel cards

You might also have heard about general travel rewards cards, such as The Platinum Card® from American Express, the Chase Sapphire Preferred® Card or the Capital One Venture X Rewards Credit Card. These cards earn flexible points that can be transferred to an array of travel partners, including airlines and hotels, redeemed for travel via a respective issuer's travel portal, or even used as cash back for statement credits. Terms apply.

Are travel cards worth an annual fee?

Although a downside, many travel rewards cards come with annual membership fees. Some are reasonable and cost $95 to renew every year. Others charge as much as $695 per year, as The Platinum Card® from American Express does (it could still be worth it for the right traveler, though). Terms apply. 

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IDFC First Bank credit cards are one of the best lifetime free credit cards today in the market. All four variants (Millennia, Select, Classic and Wealth) are LTF and offer the same rewards. The cards also offer complimentary railway/airport lounge access, and roadside assistance among other benefits.

2. Amazon Pay ICICI Bank Credit Card

Amazon Pay ICICI Bank credit card is one of the best for Amazon purchases. If offers between 2% to 5% unlimited rewards on Amazon spends and 1% on all other spends. The unlimited rewards can add up to a significant amount for Amazon purchases alone. If you don’t have Infinia/DCB, this is the card to have for Amazon India shopping.

3. HDFC Bank Millennia/Regalia Credit Card

This one is not LTF as per product info but is issued LTF in most cases. HDFC Bank Millennia and Regalia credit cards carry an annual fee but can be LTF with two conditions. It can be a Smartpay registration or a one-time spend amount for the first 90 days.

4. RBL Zomato Edition Classic Credit Card

Most of the RBL Bank credit cards are not that great in rewards and can be avoided. But, the co-branded RBL Zomato Edition Classic credit card is a good one to have. It offers 5% unlimited rewards on Zomato spends and a whopping 10% rewards on all birthday spends.

5. HSBC Visa Platinum Credit Card

An entry-level lifetime free card that has Airmiles as a redemption option? Good to be true but we have the HSBC Platinum credit card with just that. The USP of this card is reward redemption for Airmiles and Hotel Loyalty memberships.

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Need for Visiting the Airport Lounge

Flight Delay:- Sometimes due to some technical problem the flights get delayed. So, it becomes tiring for the passenger to wait on the stiff benches for hours. Therefore, it is better to take a visit to the airport lounge and spend time relaxing on a recliner.

Flight Canceled:- The bad weather usually cancels the flight that is about to take off. Therefore, until the time of rescheduling, you can wait comfortably in the Airport Lounges for free.

Large Time Difference Between Flights:- As we all know that there are some countries where you have to take a connecting flight and an individual always keeps a time margin between two flights. So, in that spare time, you can go to the lounge and relax comfortably.

Want to Take a Power Nap:- Almost all the Airport Lounges have recliners where you can relax and take a power nap if you are tired. You can get this facility for free if your credit card has an offer of a free visit to the airport lounges.

Feeling Hungry:- Almost every airport lounge provides free food and drinking facilities to its visitors. So, if you are feeling hungry, then you can have healthy food in the lounge.

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It doesn't have to be that way. To help make your credit card comparison a little bit easier, here are seven key factors to consider. (You're on your own with the cereal.)

1. Understand Your Financial Profile and Spending Habits

Before you start comparing credit cards, it's best to understand your own financial profile. Your credit score and credit history play a big role in what type of credit card you can get. Most high-end credit cards are typically reserved for those with excellent credit, though there are plenty of cards available for those simply looking to establish their credit history, too. 

It also helps to know your spending habits. Remember that a credit card isn't a source of free money – you have to pay back every purchase, and any unpaid monthly balance will likely start to collect interest.

2. Ask Yourself: Why Do I Want a Credit Card?

Whether you're getting your first card or adding to a collection, ask yourself why you want a credit card. Your answer will be the basis for determining which credit cards to compare and, ultimately, which one to choose. Here are a few reasons you might want a credit card and some matching card types:

• If you're an avid traveler, look into cards that offer hotel, airline, or general travel rewards.
• If you're a small business owner, a cash back business credit card can help you pay for company expenses.
• If you're just starting to build credit, consider a card with no annual fees and a low APR.
• If you want to make a balance transfer, compare credit cards that offer no-fee balance transfers or 0% balance transfers.  

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Prepaid cards vs. credit cards:

Prepaid cards are very different from credit cards. This can be confusing because both types of cards may have a card network logo such as Visa, MasterCard, American Express, or Discover on them. When you use a credit card, you are borrowing money. Generally, when you use a prepaid card, you are spending money you have already loaded onto the card in advance. If your prepaid card provider also offers credit (including overdraft) on your prepaid card, it will need to comply with all the rules for other credit cards.

Listed below are some of the benefits of Prepaid Credit Card:

• Prepaid Credit Cards can be an efficient budgeting tool as it helps you stick to the certain spending limit
• Card issuance is straight forward: no employment verification/ no credit score
• No need to have a bank account.
• Some banks allow ATM withdrawals.
• No debt/interests.
• Pay utility bills or any good and service.
• Function as a gift card or travel card.
• Pay employees' salaries.

Credit Cards

Credit Cards including Visa, Mastercard, American Express are issued by banks or financial institutions allowing people to borrow money in the form of a card that has to be paid back in full amount by a certain date or in installments over time, with added interest and other agreed-upon charges. In simple terms, the issuing bank pays for your purchases on your behalf and you incur a debt that you will have to pay back later to the bank.

Listed below are some benefits of credit cards:

• You can build your credit score when used responsibly. This will help in obtaining loans or mortgages later in your life.
• Security: If even your card gets lost or stolen, your funds are safe and will be reimbursed
• Credit cards offer many rewards such as cash back, rewards points, travel, and shopping perks, etc.)
• Many credit cards provide purchase assurance and extended warranties on your purchases. You can do a chargeback when the goods or services are not delivered.

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List of Axis Bank Credit Cards in India 2022

Axis Bank Credit Cards come with a host of rewards, discounts and other privileges that can capture your imagination. Let’s find all those in the below table. 

Axis Bank Credit Card Eligibility

• You can check the eligibility criteria below.
• The minimum age limit of the primary credit cardholder must be 18 years or above.
• The maximum age of the primary cardholder must not exceed 70 years.
• You should be an Indian Resident to apply for the Axis Bank Credit Card.
• 15 years is the minimum age needed for the add-on cardholders. 
• You must have a stable income as per the credit card income requirement to apply for the card. 
• The minimum Cibil Score needed for this card is 750 or above.

Axis Bank Credit Card Documentation

Don’t forget to submit the following documents to validate your identity, address, income, etc.

• 1 passport size photograph
• Original PAN Card and its photocopy.
• Form 16, Last 6 months salary slips or Income Tax Return copy as Income Proof.
• Passport, Ration Card, Electricity Bill or Landline Telephone bill as Residence Proof.

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Overspending: Credit card can be risky instrument for those who cannot control the urge of splurging money. The easy availability of credit not only reduces the sting of making payment, it also stimulates their desire to buy or consume more. Their exciting reward points, discounts and cashback offers also entice many to do unnecessary expenditures. As a result, many end up in spending more than they can afford to repay.

How to avoid it: The only way to contain the risk of overspending is to maintain a strict financial discipline. Check your outstanding credit card amount regularly to keep a tab on your spends. If you are spending more than you should through your Credit Card regularly, you may consider keeping your credit card at home when going out and using other means like debit card, mobile wallet or cash. 

Reduction of credit score: As credit card transactions are equivalent of taking loans, credit bureaus record late payments or defaults in your credit report and reduce your credit score accordingly. Another major factor that reduces your credit score is your higher credit utilisation ratio. This ratio is the proportion of your total outstanding credit card balances against your total available credit limits. As lenders consider a credit utilisation ratio of over 30–40% as a sign of credit hungriness, credit bureaus reduce your credit score on breaching this level.

How to avoid it: Ensure to pay your full bill amount due by the due date. Those who fail to remember bill due dates should set standing instructions in their bank account to enable automatic deduction. Those who frequently breach the 30–40% level should request their card issuers to increase their credit limits or apply for another credit card. However, never apply with multiple credit card issuers within a short span as that too is considered as a sign of credit hungriness. Instead visit credit card marketplaces to choose the best card available on your credit score, monthly income and other criterion.

Credit card fraud: Fraudsters usually initiate the credit card fraud by duplicating your card (skimming) at point of sale (POS) terminals or ATMs or by accessing your details through e-mails or over the phone. They may also resort to identity theft by using your personal details to avail a new card in your name.

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2. Secure transactions

When you own credit or debit cards, you don't have to worry about carrying wads of cash in your wallet. Now with chip cards and pass codes, they offer secure transactions. So if someone steals your wallet or you lose it, all you have to do is call the bank and block the cards. No harm done.

With growing crime rates and increasing dependence on online transactions, it becomes imperative to move from cash to plastic. 

3. Reward points and incentives

Both credit and debit cards and especially co-branded ones have excellent reward programs. With every spend, you accrue points and you can redeem them for free fuel, lounge access and reward points at retail partners, air miles, cash back and much more.

So when you use cards, you get back a small amount of what you spend.

4. Deals and discounts

Consumer offers in the form of discounts, free products, gift coupons etc., at both online and offline retail partners are a regular feature for credit and debit card users. Sometimes, cardholders get deals over and above the discounts offered by online and offline merchants.

5. Spending limit

Both credit and debit cards have limits to which you can spend while using them. Debit cards allow you to spend from your bank balance within the daily limit set by the bank. With credit cards, your spending capacity is not limited by your bank balance. However, you will have to keep track of your credit limit, to ensure you don't spend beyond it.

6. Charges

Plain debit cards do not incur any charges, whereas branded debit cards have annual fees.Some credit cards have joining fees and annual fees. Interest is charged when total outstanding is not paid in full before the interest free period. 

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Types of Credit Cards Offered by IndusInd Bank

IndusInd Bank offers multiple types of credit cards like

Shopping: These are credit cards that are especially made for shopping be it online or offline with great benefits in the form of reward points or cash backs.

Travel: These are credit cards made for people who love to travel and get benefits in form of reward points or miles which can be redeemed for attractive gifts or free tickets

Lifestyle: These are credit cards which provides benefits for dining, movie tickets, etc. This is also called fun credit cards as they give benefits for more experience-oriented services. For example, a credit card will give more rewards for dining or give 2 complementary tickets each month.

IndusInd Bank Credit Card Benefits  Features

Credit cards have many uses apart from the rewards you get from spending using your credit cards. The following is list of uses that credit cards can provide you

1. Sign on bonuses: Some of the credit cards from IndusInd Bank provide sign on bonus or gifts as a thank you for signing with the bank. This is a great reward which will offset any joining fees paid already and get even more.

2. Rewards: Reward points are offered for any transaction that is made using your IndusInd Bank credit card. These reward points can be accumulated to obtain a great gift, or the points can be redeemed for cashback. Either way customer is the winner.

3. Frequent flyer miles: This is useful for people to travel by plan frequently. They get miles as reward for using your IndusInd Bank credit card to pay for airline ticket. With enough points you can avail discount on future tickets or you may be able to get tickets for free. Also, with some credit cards you get access to airport lounges which could be a life saver in case of delayed flights.

4. Cashback: Some IndusInd Bank credit cards also provide cashback on certain spends like 5% cashback for shopping online, 5% cashback for using your credit card to pay utility bills. This is a great way to save money on spends.

5. Keeping vendors in check: Credit cards help in keeping vendors in check. Customers have the option to cancel payment or even if already paid the ability to revert payment if they feel the product they bought is below par. This way the vendors who provide the products will stay honest and provide better quality goods.

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Key Highlights of SBI SimplySAVE Credit Card

SBI SimplySAVE Credit Card offers savings on various purchases or transactions that we conduct on everyday basis.

From accelerated reward points to spend-based rewards to a renewal fee waiver, the credit card offers more practical benefits that enable the cardholders to save while they spend on the credit card. Let’s look at the features and benefits of the SimplySAVE SBI Credit Card in detail.

• A lifestyle credit card with a minimal renewal fee.
• Renewal fee waiver on milestone spends.
• Accelerated reward points on day-to-day spend categories.
• Bonus reward points within 60 days of card set-up.   

SBI PRIME Card

A premium credit card to complement a premium lifestyle, the SBI PRIME Card comes with a joining fee of Rs.2,999. You can enjoy a fee waiver if you spend a minimum of Rs.3 lakh annually.

The State Bank of India provides its customers with the SBI Card PRIME which is a credit card offering a wide range of rewards. This SBI Credit card gives you joining benefits along with reward points for transactions done through various categories such as travel, fuel and, lifestyle.

Key Highlights of the SBI Card PRIME

The SBI Card PRIME is among the premium credit cards offered by SBI which is curated specifically for frequent travelers and for the people who make most of their purchases online.

• Get an e-gift voucher worth Rs.3,000 as a welcome gift.
• Lucrative PRIME Reward Points system.
• If your expenses in a year exceed Rs.3 lakh, the annual fee of the credit card will be waived off.
• Win a Pizza Hut voucher worth Rs.1,000 on purchases worth more than Rs.50,000 in a quarter.
• Get complimentary Club Vistara and Trident Privilege Memberships .

Features and Benefits of the SBI Card PRIME

Welcome Bonus

An e-gift voucher worth Rs.3,000 given from the bank on paying your annual fees.

This voucher can be redeemed on purchases made at Bata, Marks and Spencer, Hush Puppies, Pantaloons, Yatra.com and Shoppers Stop.

Birthday Benefit

With your SBI Card PRIME, for every Rs.100 spent on your birthday, you get 20 reward points. This is subject to a maximum of 2,000 points per annum.

Milestone Benefits

Win a Pizza Hut voucher worth Rs.1,000 on purchases worth more than Rs.50,000 in a quarter.

Get gift vouchers from Pantaloons or Yatra worth Rs.7,000, on spending Rs.5 lakh or more in a year.

The annual fee of the credit card will be waived off on spending Rs.3 lakh or more in the previous year.

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Features and Benefits of RBL Bank MoneyTap Black Credit Card:

Get 2 Reward Points for every Rs. 100 spent on all purchases such as travel, groceries, dining and electricity bill

Avail 5X Reward Points i.e. 10 Reward Points for every Rs. 100 spent online, up to 500 Reward Points in a month

Monthly Benefit: Earn 1000 Reward Points every month on making at least 5 transactions of Rs. 1000 or more

Get 10% discount on movie bookings on BookMyShow, up to Rs. 100, any day of the week, 15 times in a year

Complimentary access to domestic airport lounges, up to 1 visit per calendar quarter

Earn 8000 Reward Points on annual online spends of Rs. 2.5 lakh

Earn additional 8000 Reward Points on crossing annual online spends of Rs. 4 lakh

Fuel Surcharge Waiver at all fuel stations. This is valid for fuel transactions between Rs. 500 and Rs. 4,000. The maximum waiver of Rs. 100 per month  

Conclusion

One must always go through all the best available credit cards before applying for one. Good CIBIL can make the whole process of getting a card much easier. There will be hidden charges and taxes while applying for a credit card, hence, always read all the terms and conditions before applying for one. It's advised to always spend wisely; don’t overspend because ultimately, it is you who'll have to pay for all the expenses. By reaching the end of this blog, we hope you'll be making an informed decision on the right RBL Bank credit card that suits you!

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Pros

Convenience. Credit cards give you purchasing power worldwide — locally and overseas, in stores, online and by phone. Many credit cards (especially Visa and Mastercard cards) are accepted virtually anywhere. You don't need to carry wads of cash.

Rewards. Rewards credit cards give you cash back, points or miles for each dollar you spend. Many of them offer bonus rewards in specific categories, such as supermarkets, gas stations and restaurants. 

Financing large purchases. Credit cards let you buy something now and pay for it over time. We'll discuss the dangers of this later, but don't overlook the advantages of using credit. 

Building credit. Credit cards can be invaluable for strengthening your credit. By making frequent purchases and keeping current with your payments, you can build a positive credit history, which will be reflected in your credit scores.

Emergency purchasing power. Ideally, you should have an emergency fund with enough money to cover three to six months' worth of expenses to keep you afloat in case of a layoff, medical emergency or other unexpected event.

Protection. Credit cards have better protections against fraud than debit and ATM cards. With a credit card, you'll pay no more than $50 in the event of fraudulent transactions — and many issuers pledge that you'll have no liability whatsoever. 

Cons

Interest charges. Perhaps the most obvious drawback of using a credit card is paying interest. Credit cards tend to charge high interest rates, which can drag you deeper and deeper in debt if you're not careful.

Temptation to overspend. Credit cards make it easy to spend money — maybe too easy for some people. When you're not laying out cash upfront, you can get detached from your spending. 

Late fees. Fail to pay your bill by the due date, and you'll probably get hit with a late fee, which can approach $40. This adds up quick for repeat offenders.

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Features of International Credit Cards

Credit cards for international use offer the following feature –

• The card can be used at all foreign outlets both online and offline
• You can avail of international lounge access in multiple countries
• Facility of earning reward points on making purchases with the card
• Discounted rates at hotel booking and flight tickets 
• Low foreign currency markup fee in comparison to regular credit cards 

SBI Etihad Guest Premier Credit Card

SBI Etihad Guest Premier credit card is designed to meet the needs of frequent travellers. 

HDFC Infinia Credit Card Metal Edition

HDFC Infinia Credit Card Metal Edition offers premium lifestyle benefits to selected customers, as it is an invite-only card. 

Citi PremierMiles Card

Citi PremierMiles Card by Citi Bank offers exclusive benefits to frequent travellers to international locations.   

RBL World Safari Credit Card

RBL World Safari Credit Card is India's first travel credit card with a 0% mark-up fee on all foreign currency transactions. 

Air India SBI Signature Credit Card

SBI Air India Signature Credit Card is a go-to card to reward you for your international travel if you travel mostly by Air India. 

IndusInd Legend Credit Card

IndusInd Legend credit card offers attractive offers on online shopping, movies, bill payments, and travel.  

Axis Reserve Credit Card

Axis Reserve credit card is a super-premium credit card that provides a number of benefits for frequent travellers travelling to international locations. 

Axis Burgundy Private Credit Card

Axis Burgundy Private Credit Card is another premium credit card by Axis Bank offered to high-net-worth individuals. 

MakeMyTrip ICICI Bank Signature Credit Card

MakeMyTrip ICICI Bank Signature Credit Card is a zero-annual fee credit card, exclusively designed to provide travel benefits to both domestic and international travellers.  

HDFC Regalia Credit Card

HDFC Regalia Credit Card offers benefits across multiple categories such as travel, shopping, dining and more.  

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Let us understand this with a simple example:

Assume your credit card statement is generated on the 6th of each month. Your credit card billing cycle will begin on the 7th of the previous month and will end on the 6th of the current month. During this time, all credit card transactions will appear on your monthly credit card statement. This includes all credit card payments, cash withdrawals (if any), and ongoing credit card EMIs. In this example, we have considered the billing cycle to be of 30 days, but it may vary depending upon the type of card and your credit card provider.

Credit card Due Date

Your credit card due date is the last date until which you are supposed to clear your bill and it is usually after 15 to 25 days from the statement date. For instance, let us consider that your credit card statement is generated on the 6th of every month and your due date is the 26th of the same month. What this simply means is that you have to pay your dues till the 26th and no extra charges will be levied on paying within this time frame.  

Credit Card Interest Free Period

A credit card interest free period is the duration for which the amount used on a credit card does not attract any interest. It can also be understood as the duration between the first day of the billing cycle and the day on which the payment is due. Let us understand interest free period with an example: 

• Statement Generation Date – April 6th
• Due Date –  April 26th (20 days)

So, here the statement generated on April 6th has all the transactions that occurred between March 6th to April 5th. Let us take into consideration, 5 transactions that took place before the bill was generated on April 6th.

• March 16th – Rs, 1,500
• March 7th – Rs. 2,500
• March 31st – Rs. 10,000
• April 2nd – Rs. 1,000
• April 4th – Rs. 1,200

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What is a Credit Card Loan?

A credit card, in its physicality, is a thin and rectangular piece of plastic or metal given by a bank or financial organization that permits cardholders to get quick and immediate funds. Cardholders can use these funds to pay for different products and services. The cardholders must repay the amount to their bank later, on a pre-decided date, to maintain a clean balance. 

Features of Credit Card Loan in India

Here are some benefits to keep a note of as you move ahead to become a cardholder yourself:

• Credit card loans are quick and instant loans
• These loans are hassle-free and come pre-approved
• It is minimal or no documentation required for these loans
• It comes under the category of unsecured loan; hence no collateral is required for applying
• The processing fee is considerably low, and competitive interest rates are charged
• Repayment of the loan is made hassle-free with monthly instalments, and due timelines were given.
• The interest rates charged on a credit card loan differ depending on the kind of card opted for by the candidate. 

Benefits of Credit Card Loan 2021

Here are some benefits of a credit card loan to keep a note of as you move ahead to become a cardholder yourself:

• Since these loans are pre-approved, there is minimal to no paperwork involved in their disbursal.
• The simplified application process for ease of access
• Quick and seamless processing and disbursal of funds
• Credit card loans help you buy expensive items through EMIs.
• You can conveniently transfer the balance outstanding of other cards to a single card and make payments in easy EMIs.

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12 Credit Myths and Truths You Should Know

• Your personal information affects your credit. 
• Your income affects your credit scores. 
• Using a debit card helps build credit. 
• Canceling credit cards boosts your credit. 
• You share credit with a spouse. 
• Kids can’t have a credit report. 
• You must carry credit card debt to build credit. 
• You only need good credit if you plan to carry debt. 
• Every bill you pay helps build credit. 
• Checking your credit hurts your score. 
• You have one credit score. 
• Closing a credit account erases its history.   

Myth #1: Your personal information affects your credit.

Truth: If you’ve heard that credit scoring is discriminatory or uses information from your social media accounts, that’s dead wrong. 

Myth #2: Your income affects your credit scores.

Truth: There’s no connection between how much you earn and your credit scores. Since lenders and credit card companies typically ask your income on a credit application, having a high income can work in your favor, but it’s just one way they evaluate you.

Myth #3: Using a debit card helps build credit.

Truth: Debit and credit cards look alike—but that’s where the similarity ends. While using a debit card is convenient for making everyday purchases, they don’t help you build credit because your bank activity isn’t listed on your credit report.

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Evaluate Your Spending Behaviors

It is important to consider your spending habits before choosing a payment method. Paying attention to how and when you spend money can help inform which option may be best for you. Do you know when you are most likely to overspend? Do you find it easier to make a purchase on credit or lose track of where your cash was spent?

If you are carrying a large credit balance or struggling to stay on top of payments, sticking to cash whenever possible may help you pay down debt. Dave Ramsey popularized the envelope method encouraging people to use cash whenever possible.

Many people use credit cards regularly and rarely carry a balance. If you stay on top of your payments and pay your card in full, a credit card is probably a great option for you.

The Benefits of Credit

• Fraud Protection
• Purchase Protection & Insurance
• Anti-fraud Detection
• Grace Period
• Build Credit
• Rewards, Cash Back and Bonuses
• Versatility
• Cost Savings
• Debt Reduction

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SBI is one of the most trusted banks when it comes to Credit Cards and hence, many people tend to choose an SBI Credit Card, depending on their need.

Here are Five Best SBI Credit Cards Available in India:

1. SimplySAVE Credit Card

Now save more on all your transactions with SimplySAVE SBI Card. The card offers unlimited privileges to the use.

2. Yatra SBI Credit Card

If you are a frequent flyer, the Yatra SBI Card is just made for you. This card offers various benefits on domestic as well as international flight bookings. You can also use this card for your day-to-day purchases.

3. SBI Card ELITE

This card has several benefits for frequent flyers, especially international flyers. Get complimentary lounge access and attractive offers and discounts on airfares, hotel bookings, movie tickets, and so on.

4. SBI Card Prime

Get SBI Card Prime to avail maximum benefits on your travel bookings, hotel booking, grocery shopping, online shopping and other spends.

5. Air India Signature SBI Card

If you travel frequently by air or train, this card is best for you. It provides multiple benefits on booking flights through Air India.

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Moreover, a credit card, apart from offering higher credit limit and plenty of other amazing offers, helps you in availing a loan whenever you are facing difficulties in life. Yes, it saves you from the rainy day by fulfilling your urgent need of money. Be it wedding expenses, medical emergency or  travelling, a credit card can solve many purposes and lets you enjoy the life without any worries. So, without much ado, let’s get started and take a look below at the advantages of availing a credit card loan.

No Documentation Required: When you avail a credit card loan, in most of the cases, the lenders don’t ask for documents in order to give approval to your loan. Usually, a loan can be availed depending on your credit spending as well as repayment habit. However, in many, your loan is pre-approved by a lender upto a certain limit, thus in such a scenario you can easily avail the loan without even submitting the documents. 

Pre-approved Loan: If you are a credit card user, you are surely aware with the fact that how plethora of banks offer you lucrative deals and discounts so as to grab your attention. Well, if you use your card very often for various purposes such as paying bills, shopping, dining for making other payments, depending upon  the spending limit. However, in many cases, the pre-approved loan comes to you with higher credit limit, which is all in all good news for you.

Ease of payment: Credit card loans also give you the benefit of converting your higher loan amount into pocket-friendly EMIs so that your monthly budget will not get affected. In order to make this happen, all you can do is-make payment through ECS, cheque or auto deduction takes place through your bank account. Moreover, according to your choice and convenience, you can choose any of the payment system and can avail the benefit of converting your heavy loan amount into small chunks of EMIs.

Flexible Tenures: As far as credit card loan is concerned, different lenders offer different tenures for the same. So, you can easily choose a tenure that suits your repayment schedule well. Credit card loan tenures usually range between 6 months to 36 months being the maximum. However, there are few lenders who offer loan to the customers upto a maximum tenure of 24 months, so choose carefully while availing the loan.

Lower Processing Fee: With credit card loan also comes the processing fee that you need to pay to the lender. Processing fee is a one-time fee that is usually charged by the lenders on the total disbursed loan amount. Credit card loan processing fee is usually lower as compared to the fee or charges against the cash withdrawal via credit card. Yes, you are supposed to higher fee, if you withdraw the cash while using your card, which is not the case with credit card loan.

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How To Get A Credit Card Without Cibil Score?

For an individual who has no CIBIL score or has a low CIBIL score, it is quite difficult to get a regular credit card, however it is not impossible.

To get a regular credit card without having a CIBIL score, an individual can try doing the below mentioned things:

Get a secured credit card: This is the most easy and convenient process that an individual can turn to while looking to getting a credit card without having a CIBIL score. An unsecured credit card can be availed by all those applicants who have no credit score or possess a low credit score. The secured credit card can be availed in a bid to build up the individual's CIBIL score.

 To avail a secured credit card, all the individual needs to do is open a fixed deposit account with a bank from which he/she wishes to avail the secured card and make a deposit. The bank will issue a credit card to the individual with a credit limit between 50 to 100 percent of the total deposit made as per their banking terms and conditions.

Get an add-on credit card: Availing an add-on or supplementary credit card is another way for an individual to build his/her CIBIL score. An add-on credit card can be availed by the individual if he/she has a primary credit cardholder in the family. A add-on credit card comes with similar benefits and features as the primary credit card which the family member possesses. 

However, the credit limit that was on the primary credit card is now shared between both the cards, i,e primary and the add-on credit cards. Irrespective of that, the individual can still avail the benefits of the add-on credit card as well as use it during unforeseen times like financial emergency.

Credit card against savings account: Credit cards are offered against savings account only by some of the major banks in the country. This is another way an individual can get himself/herself a credit card without having a CIBIL score. 

To get a credit card based on the savings account that the individual possesses, he/she will have to deposit a certain amount of money in the account for the bank to provide him/her with a credit card.

Avail a prepaid credit card: Another way of getting a regular credit card from banks and financial institutions without possessing a CIBIL score is by availing a prepaid credit card. This is a good idea for individuals who have a bad credit score.

 Prepaid credit cards are offered by all the major banks in India to people who possess a bad CIBIL score or are without a credit history. A prepaid credit card can be used by individuals by putting in a certain amount of money and using it just like an individual uses a prepaid mobile connection.

Click on the link to know more about the pay off credit cards debt: https://vocal.media/trader/how-to-pay-off-credit-card-debt

Credit card bills adding up on a monthly basis and not being able to pay in full has become a common occurrence for most people nowadays. Due to this, every month, your bill adds up to the previous months resulting in a large debt which needs to be paid.

This is if you have one credit card. If you hold more than one, if you do not spend wisely, you have multiple debts which hits your monthly budget as well as your credit report.

Credit card debt cycle is an actual term given to this where you might end up spending more with a credit card in hand. This leads to a huge credit card bill, probably more than what your budget is. This, in turn, results in borrowing money in the form of a loan to pay off these debts. Hence, a cycle.

7 Ways by You Can Pay Off your Credit Card Debts.

Make a note of all the debts to be paid.

Instead of looking at your credit card bill at once, which is a lot, break it down into smaller parts. This helps you to categorize it. If you hold more than one credit card, it is advisable to pay off the bill which is on priority.

Prioritizing

It is advised that you pay the credit card bill which has a higher rate of interest rather than the one which has a higher amount. This will save you from paying a large sum of money due to accumulated interest in the coming months. 

Paying the card bill with the least balance 

Once you pay off the credit card bill with the higher interest rate, you can switch to the card with the least balance pending. 

Getting a credit card with low APR

In India, there are no credit cards which have an Annual Percentage Rate of 0% like in the United States of America. These cards are used for a credit card balance transfer. During the period of 0% interest charged, the cardholder can pay off all the pending bills. 

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Top Rewards Credit Cards in 2022 

• YES Prosperity Reward Plus Credit Card
• FinBooster: YES Bank-BankBazaar Co-branded Credit Card
• IndusInd Bank Platinum Card
• HSBC Smart Value Credit Card
• Citi Rewards Card Rs.1,000.
• HDFC Moneyback Credit Card 

Types of Rewards Credit Cards in India

Some of the common Reward Credit cards types that are available are as follows:

• Travel Rewards Credit Cards.
• Dining/Shopping Rewards Credit Cards.
• Entertainment Rewards Credit Card.

Benefits of Rewards Credit Cards.

Reward points programmes available on credit cards vary from one credit card to another. However, there are certain common benefits offered by most of the reward points programmes. 

• Rewards on every transaction.
• Accelerated rewards.
• Milestone rewards.
• Exciting rewards.

Click on the link to know more about how to maximise the benefits of your credit cards: https://cardinsider.quora.com/6-Smart-Tips-To-Maximise-The-Benefits-of-Your-Credit-Card

The amount of credit you access via your credit card has implications on your credit score. A utilisation of 25-30% of your credit limit is considered ideal. You would be well advised to not exceed 40% of your credit limit on a regular basis. 

A credit card with a lower-than-required credit limit may often result in a higher credit utilisation ratio (CUR). This can negatively impact your credit score. A higher credit limit on the card can help you keep a lower CUR and allow you to use the credit card more effectively. 

Can you get your credit card limits increased? The answer is yes. Let’s check out the ways for maximising your credit card limit. 

(1) Improve Your Credit Score 

(2) Use Your Card For the Right Reasons

(3) Repay Credit Card Dues On Time

(4) Request Card Company To Increase Your Credit Limit

(5) Show Your Increased Income To The Card Company

(6) Other Ways To Maximise Your Credit Card Limit

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Joining benefit 

You get a ₹500 Flipkart gift voucher on your first transaction within 30 days of card setup. Gift vouchers are sent to the registered mobile number and email address within 30 days of the transaction.

You also get a 6-month Gaana music-streaming subscription along with discount coupons from Goibibo, MakeMyTrip, Myntra and Urban Company.

A lot of cardholders have complained of not receiving the gift voucher or not being able to redeem it on Flipkart. The best way to resolve this is to raise a complaint by calling the Axis Bank customer care number.

Reward Points

For shopping on Flipkart, Myntra and 2GUD, you get 5% cashback on all non-EMI purchases made. Everything except for e-gift cards and gold purchases.

For preferred merchants Goibibo, MakeMyTrip, PVR, CureFit, Uber and Urban Company you get 4% cashback. Many customers have complained that 4% cashback on preferred merchants is only credited if there are no other promos used at the merchant site and accrue just 1.5% otherwise.

The key highlight of this card is that you get unlimited 1.5% cashback for purchases everywhere else. A base reward rate this high is usually found on super-premium cards like Yes First Exclusive, making this card a very attractive proposition for everyone.

Cashback is automatically credited to your credit card account in the next billing cycle.

Airport Lounge Access

You can access domestic airport lounges 4 times per calendar year via the Mastercard lounge program. Per calendar year instead of calendar quarter gives you more leeway to avail the benefit if you have a major chunk of travel happening at once.

Even though this card uses the Mastercard Lounge network, the number of eligible lounges is controlled by Axis Bank and is limited. You can access the list at this link.

Fuel Surcharge Reversal

You also get a waiver of fuel surcharge up to ₹500 per billing cycle for fuel transactions of ₹400 to ₹5000 at any petrol pump. Note that the reversal is only for the fuel surcharge component and not the GST levied. No cashback is accrued either. A fuel credit card with accelerated reward points on fuel is a better option for fuel transactions.

Click on this link to know more about the credit card bill payment: https://vocal.media/trader/credit-card-bill-payment-everything-you-need-to-know

There is a lot more to a credit card, bill, however, and knowing all the components of your bill can help ensure you don’t miss bill payments or lose out on perks that your card might offer you.

What’s My Credit Card Bill Contain

Besides just the amount due and the total purchases made during that period of time, a credit card bill contains a list of other information relating to your purchases and spending habits. Along with these, additional charges and fees are also a feature, and one you should be aware of, especially since these could raise the total amount you have due quite exponentially.

The charges that are reflected in your credit card bill are as given below:

Previous and Purchase Balances

The biggest portion of your monthly credit card bill will consist of the previous and current purchase balances you have made over the course of your billing cycle. These charges comprise of any outstanding bills (amount left unpaid from your last bill) and your current bill charges.

Cash Advances

Using your credit card to withdraw money from an ATM would result in a cash advance charge, which is displayed as a cash advance on your credit card. Such a transaction would attract interest immediately, and does not have a free-look period. Cash advances also attract higher interest rates and should be avoided unless absolutely necessary.

Balance Transfers

A credit card enables you to transfer your debt from one card/multiple cards to other cards. Doing this will result in the debt being added or transferred to the other card and does not cancel the debt. If you have moved debt from another card to this card, it will reflect along with the interest charges associated with it in your bill.

Interest

One of the most important aspects of a credit card bill, the interest due is the charge associated with taking money on credit. In other words, it can be viewed as the charges for what is essentially a loan. Failure to pay your due amount each month will result in the balance amount being carried forward to your next billing cycle, along with interest charges on that amount. Thus, your current bill will display the amount due based on your purchases charged to the card during this period as well as the interest and balance that was carried forward, if any.