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Credit Cards

Want to have that extra security of knowing you can access funds at extremely short notice.?Are you a frequent flyer missing out on those additional miles you can earn by using a co-branded card of your favorite airline? Or better yet, are you so loyal to a few select shopping brands that you find yourself missing out on those extra goodies they offer?Click here to access a world of credit card options. If you find yourself needing any advice or guidance, just click on the “Talk to me” button and our sales advisers will either get on a web-chat with you, or call you back.

FAQs

How do Credit cards work? When you take a credit card from a bank, you are given a line of credit from the bank. This implies that whenever you swipe it at a registered member establishment, the bank settles the dues immediately, up to a specified credit limit.Subsequently at the end of a month, the bank will send you a statement, which tells you the monies you owe back to it. This may or may not include certain charges they could impose like Service charges, interest charges and service tax for extending you that credit.Your payment options could be to settle the monies immediately or pay in installments like a loan.What are the features that credit cards offer? Credit cards may offer some or all of the features mentioned below, depending on the card type you choose, the ability of the bank to support the services etc.
  1. Low interest
  2. Insurance protection
  3. Theft protection
  4. Frequent flyer miles
  5. Loyalty and reward points with member establishments
  6. Pre qualified lower interest loans
  7. Add on cards
  8. Auto EMI payment modes
  9. Cashback offers
How do I get a Credit Card? Fill in a form for the same on our portal. Thereafter we will check your eligibility for a card, and based on your indicated preferences, shortlist and send you options? Are there any eligibility conditions that I should fulfill?If you are a primary cardholder, you should be of a minimum 21 years of age, should have an annual income in excess of Rs. 75,000/- (salaried or otherwise), and should be a citizen of India.. You should also have a good banking and credit history with no loan defaults.What are the interest rates charged on the credit card? Banks charge an amount between 36% to 42% on the unpaid dues per annum. That’s why it is important to make credit card payments in time, not miss a payment or if you foresee some problems, speak to the bank immediately to work out extended settlement options.Are add on cards the same as primary cards? Add on cards have credit limits lower than the primary card. In some cases the overall limit of the primary card is distributed with the greater amount on the primary card. In terms of acceptance, they enjoy the same privileges.Can I share my credit card information with people? It is very important that you do not share your credit card information without first ascertaining the purpose that the information is required for. On the reverse of your credit card is a 3 digit number called the CVV number. This number should never be shared with anyone. It is only to be entered by you when authenticating an online transaction.Can I use my Credit Card to draw cash from an ATM?Most banks allow you to draw a set amount of emergency cash using your credit card. However this cash will attract higher rates of interest as compared to transacting with them at a Member Establishment.

Beginner’s tips

  • When applying for a credit card, check thoroughly on all the Terms & Conditions. Ask the bank for details on the Joining Fees, Processing Fees, Transaction Fees, Interest rates, Late Payment charges etc.
  • Fill in the application form yourself. DO NOT allow any one else to fill it.
  • Once you receive your card check it for the following –
    • That your name has been spelled correctly.
    • That the 16 or 20 digit Card Number matches the one on the letter of issue that accompanies the card.
    • Check the Start and Expiry dates of the card.
    • Check whether the metallic strip on the reverse of the card has any scratches. If so, return back the card and ask for a fresh one.
    • Check that the signature strip is clear.
    • If all of the above are fine, immediately sign on the Signature strip.
    • Some banks will ask you to activate the card through a call bank or a single time swipe at the Bank ATM. Once you receive the ATM Code, do just that.
  • When swiping your card at a Member Establishment, check the amount on the swipe machine before entering in the PIN.
  • Always keep a Xerox or scan copy of your Credit card.
  • If your credit card gets stolen or misplaced, immediately call the Bank helpline and have it blocked.