In this digital world its not handy to carry liquid cash in your wallet. Credit cards are also known as Plastic money. These give you a feasible option to make transactions and the usage is also wide. The credit card is not only substituted for cash, they also reward you for your expenses spent through them. As there is an immense usage of credit cards, there are great deals available from the lenders.
There are a large group of charge cards accessible in the market having diverse highlights and advantages connected to them. The most prominent credit cards are fuel credit cards entertainment credit cards, co-branded credit cards, student credit cards, cash-back credit cards, travel credit cards women credit cards, premium credit cards, lifetime free credit cards, global credit card low-interest credit cards and business credit card
There is no need to knock the bank door for the credit card. Everything is online now, you can apply for your credit card online, you just have to visit the portal and fill in the basic details. The representative will get back to you through a call and guide you for further process. All the necessary documents will also be collected by the representative at your doorstep.
You are just a Click away to apply for Credit Card. Click here and fill in the details.
Add-on credit cards
Add-on credit cards are the child cards of the original Credit cards. These cards can be issued to the family members of the primary cardholder. There is the limit for the number of add-on cards that can be issued. This limit differs from bank to bank and the type of card. Most cards provide these supplementary cards for free and some charge the small fee. There is also a case where a certain number of add-on cards are free and beyond that, there are applicable charges.
In case of pending credit card bill, Interest will be charged on the outstanding credit amount. This interest is applicable to new spends apart from the outstanding bill. There will be no grace period in case of credit cards. There are low-interest credit cards available, If you want a credit card first check the interest rates on them, Interest rate differs from bank to bank.
Or you can just visit InstaEMI we will let you know all the options available in the market.
Key Features of Credit cards
• The credit card is a great alternative to cash easy to carry and ensures safety.
• Great option in case of any emergencies.
• One of the great advantages of the credit card is, you can improve your cibil score. Clearing your bills regularly will improve your cibil score which in turn will help you to avail loans in future.
• Banks provides welcome offers to the new customers in the form of cash back, discounts, coupons, and reward points just for availing the credit card
Reasons That Your Credit Card Application May Get Rejected
Ineligibility due to income
All banks will not have the same eligibility requirements they differ If your earnings don’t meet the requirement of the lender your application will be rejected.
Residence/ Office location
This may sound weird but some banks blacklist some areas and organizations and they don’t provide any kind of services to them. This may also be the reason for rejection.
Incomplete or false information may be the rejection of your application. If you have provided false or incomplete data you will not even receive a call for further information your application will be rejected straight away. Its better for you invest some time and provide appropriate results.
Bad credit history
Your credit history will reflect your risk factor to the card issuer. The following are the situations where the credit card issuer find you risky
Too many Loans:
If you have too many existing loans, the lender will pre-assume that you have a thin finance source and that will raise doubt on repayment capabilities.
Too many credit card applications:
This will show your desperation towards credit card and its not good, this again shows up as a doubt of your repayment capacity.
Excessive credit card usage:
Exhausting your credit limit multiple times or if you spend more than 50% on multiple cards, the credit card provider will assume you to be financially unstable.
Credit Card- Eligibility
- Minimum age of applicant: 21 years of age for salaried individuals and 25 for self-employed
- Maximum age of applicant: 58 years of age for salaried individuals and 65 for self-employed
- Who can apply: Resident Indian
- Minimum Net Monthly Income: Rs 10,000
- Employment Type: Salaried/ Self-employed professionals and nonprofessionals
*These are general terms only. Policy norms vary from bank to bank and customer to customer.