Features and Benefits of Credit Cards in India
Credit cards are available in a number of types from all banks and financial institutions. They are considered as a form of payment at every business that provides you with services or products. Credit cards can be utilized to pay for a variety of expenses, including food, clothing and accessories, movies, online shopping, home appliances, utility and phone bills, and much more.
The credit card information consists of the card number,
name of a cardholder, expiration date, signature, and CVC code, among other
things. A credit card's best feature is that it is not linked to a bank
account. Therefore, instead of taking money from your bank account when you
swipe your credit card, your credit card limit is utilized.
Credit Card Features
EMI Payments
High-end goods can be purchased with credit cards at affordable EMI rates. Depending on the bank, these may be repaid over a
flexible period of 3 to 6 months.
Easy Approval
Both offline and online credit card applications are
accepted. Furthermore, it's simple to fulfill the requirements for credit card
eligibility, and only a minor amount of documentation is required to get a card
approved.
Customised Card Limit
The credit card limit varies between cardholders and
lenders, as well as between cards. Your debt-to-income ratio and credit score
are two major factors. Keep in mind that your credit limit may be higher the
higher your credit score.
Cash Withdrawal
A credit card additionally enables you to use ATMs to get
advance cash in emergency situations.
Discounts/Offers/Rewards
The most popular credit card bonuses are the discounts and
offers available on a variety of products. Additionally, you receive credit
card loyalty points when you use your card for certain transactions. These
points may later be redeemed for additional discounts, cashback rewards, or
other benefits.
Secured Transactions
To ensure secure transactions, the most of credit cards have
multi-factor authentication and advanced security features.
Conclusion
Special credit cards may be associated with premium stores,
online shopping portals, travel websites, etc. As a result, awards vary
accordingly between cards. While travelling, you can earn airmiles with some
travel credit cards.
Comments
Post a Comment