Credit Card
What is Credit Card ?
A credit card is a financial instrument that has a pre-loaded balance that the cardholder can use to make transactions and pay for them later. The card issuer will let you pay off the balance fully, interest-free, for up to 50 days from the date of payment. To avoid any fines, the cardholder can pay the minimum amount due (which can be anywhere between 5% to 10% on the total amount owed). The balance, however, will be carried forward to the next month, and interest set by the credit card company will be levied.
How we get Credit Card ?
Each bank offers dozens of Credit Card options. The card you choose will depend on your expected usage and requirements, and the benefits you want– for example, some Credit Cards are great for travellers, some are designed for entertainment, others may be great for business.
- Instant Business Growth
- 24/7 Quality Service
- Easy Customer Service
- Quality Cost Service
Apply for a loan or credit card today to get the financial assistance you need. Whether you're looking to make a big purchase or simply need some extra cash, these financing options can provide you with the funding you require.
More About Credit Card ?
Features and Benefits of our Credit Card ?
- Credit Limit: Credit limit refers to the maximum amount you can use through your credit card at a given point of time. You are liable to be charged a fee on exceeding the given credit limit. Credit Limits may change from month to month based on purchase and payment habits.
- Balance: The balance on your credit card represents the total amount you owe. This includes purchases, finance charges, and fees. You may check your balance online, or by calling customer service.
- APR: APR refers to the term Annual Percentage Rate, an interest rate applicable to the balance you carry forward past the grace period
- Grace Period: Grace Period refers to the period of time you are allowed to repay your balance in full before being charged a fee. Typically, balance transfers and cash advances do not have grace periods.
- Credit Card Fees: The most common fees include annual fees, finance charges, late fees, and over-the-limit fees. You may avoid certain fees based on how you use your card; for example by making credit card repayments on time.
Eligibility Criteria For Credit Card ?
- Age : Most credit card issuers require applicants to be a certain age, typically 18 or older. Some may have a higher age requirement.
- Income : Credit card issuers often have a minimum income requirement to ensure that applicants have the means to repay the credit card debt.
- Credit Score : A good credit score is important for credit card eligibility. A higher credit score indicates a history of responsible credit behavior and makes you more likely to be approved for a credit card with favorable terms.
- Residential Status : Depending on the issuer, you might need to provide proof of your current address or residency.
Documents required to apply for Credit Card ?
- Identity Proof : Need documents like your Aadhaar Card, PAN card, Driver's License, Passport, or Voter's ID to verify your identity.
- Address Proof: You'll need to submit documents such as an Electricity bill, Telephone bill, Aadhaar Card, or other valid proof of your residential address.
- Annual ITR (Self-Employed): For those who are self-employed or have alternative income sources, providing your annual Income Tax Returns (ITR) might be necessary to demonstrate your financial status.
- Latest Salary Slips: If you are a salaried individual, submitting your recent salary slips can help demonstrate your income and repayment capacity.
