Credit Card- Apply Online, Compare & Choose the Best

Looking for a credit card that offers exclusive privileges? Let us help you compare a wide range of cards and apply for a credit card that suits your requirements based on your spending habits. From shopping credit cards to travel cards, you can see a list of unique credit cards right here! Apply for a credit card online in just few seconds and start enjoying attractive premium benefits and reward points. Start saving every time you swipe your card!

Credit Card Apply

Visiting a bank branch to apply for a credit card is a thing of the past. With most of the credit card customers relying on the internet to compare and apply for credit cards, banks and other financial institutions issuing credit cards are making the space customer-centric.

The “Credit Card Online Application” feature introduced by many card issuers has made it easy for prospective customers to apply for the cards online.

While some issuers capture the basic details and contact the customer for further application process, some others have taken another step ahead by offering an end-to-end online application process.

Credit Card Apply Online

Applying for a credit card online is as simple as booking a movie ticket or ordering food online. You simply need to visit the bank’s official website, choose the card and apply for it instantly.

Upon successful submission of the application, you will be contacted by the bank representative in 3-5 working days.

How To Apply For Credit Card On Loan Qubes?

If you wish to apply for a credit card on Loan Qubes, below are the simple steps that would guide your through the online application process.

  • Visit Loan Qubes Credit Card Section
  • Click on the “credit card” you wish to procure.
  • Click on the “Check E ligibility” button.
  • Click on “Instant Apply” button to apply for the card
  • Fill the “Credit Card Online Application Form” with required details.
  • Upload the documents, as prompted by the tool.
  • click on “Submit“.

On successful submission of the application and the required documents, you will receive an “Application ID” on your registered mobile number. You can use it to Track your credit card application status in the later stage.

Benefits Of Applying For Credit Card On Loan Qubes

Loan Qubes offers end-to-end application process, wherein you can browse through most of the credit cards offered by various banks, compare and apply for the best credit card in just a few clicks.

Let’s look at the perks that we offer for applying for a credit card through us.
  • A new offer every month: “A happy customer is a loyal customer” – We add value to every application we process. Apply through us and get an assured gift upon approval of your credit card.
    • Robust comparison tool:Before availing a credit card, it is always advisable to compare various cards to find the best. But the process of comparing is not that easy, and a lot of people tend to avoid it, ending up with a wrong card. To solve this problem, Loan Qubes introduced a platform where people can compare credit cards offered by different banks online at one place. This not only helps them in making an informed decision but also in getting the best credit card available in India.
    • We simplify the application process:With our end-to-end paperless online application process, we have simplified the entire application process in a few simple steps.

    You don’t have to visit the bank branch nor have to meet any bank representative to apply for a credit card. Simply, visit our website, compare various credit cards, choose one and apply for the same without leaving the comfort of home.

    • 24×7 Support –Apart from the above,Loan Qubes provides 24×7 support to all its customers throughout the year.
    A Guide to Credit Cards

    Although most of us are quite familiar with credit cards and use them on a regular basis, there’re many aspects of the cards, most of which are quite basic, about which we are quite ignorant about. This section discusses all such things every credit card user must know.

    Why is a Credit Card Important?
    • To manage your short-term financial needs – your salary won’t be sufficient always.
    • To enjoy interest-free credit – You pay interest on a credit card only when the due amount is not repaid on time.
    • Ease of use – Ready cash for sudden expenses.
    • And the perks that come along – Reward points, discounts,cash-backs, offers air miles and lot more.


What to Look for in a Credit Card

Is your Credit Card the right one for you? Let us help you find out. Not happy with your Credit Card? You can explore a range of offers with us!

Value For Money?
Is your Credit Card providing you with enough cashback and rewards to justify that annual fee? Always ensure you get your annual fee right back through benefits on your card.

Discounts, Anyone?
Most Credit Cards give you discounts when you shop at select merchant outlets. Choose cards that allow you to save some money on your purchases.

Eat More, Save More?
Do you know that there are cards that give you cashback on eating out? It might be better to choose one that gives discounts on all the best restaurants in your city.

No Savings On Travel?
Your Credit Card must give you cashback on hotel bookings when you travel. There are even ones that give you free travel vouchers.

Ready to find a Credit Card offer that you will love? Go right ahead.

How to Use a Credit Card

You can use the credit card at the below-mentioned places to conduct transactions –

  • At point of sale (POS) merchant terminals
  • On online shopping websites, e-wallets, etc.
  • At ATMs to withdraw cash

About how to use a credit card – it’s simple.

For processing a card-present transaction such as an ATM cash withdrawal and card-swiped transaction, you need to enter the 4-digit PIN.

For most of the online transactions, you need to enter your card details. The PIN is seldom asked for online transactions.

Credit Card Interest Rates & Charges

When you don’t pay the total outstanding amount on a credit card by the due date, you’re automatically opting for the revolving credit facility. This means the borrowed amount which is not repaid on time attracts interest or finance charge.

The interest charge is also applicable when you pay only the minimum amount due or anything less than the total amount due.

Further, cash withdrawals attract interest from the date of the transaction till the amount is repaid in full.

The interest rate is charged at a monthly percentage rate or an annual percentage rate (APR) and varies from card to card. The issuer will communicate the rate of interest at the time of card issuance

Credit Card Interest-Free Period

When managed properly, a credit card acts as an interest-free credit line. This means you don’t have to pay any interest if the borrowed amount is repaid in the stipulated time.

The period between a transaction date and the credit card bill payment due date is called the ‘Interest-Free Period’.

If you pay the transaction amount on or before the due date, you don’t have to pay any interest, hence the in-between period is termed as Interest-free period or grace period.

The grace period varies for each credit card transaction and the typical period ranges from 30 to 45 days. Transactions carried out at the beginning of your credit card billing cycle would provide you with a longer grace-period.

However, the grace period is not applicable if the previous month’s due has not been paid in full.

Also, cash withdrawals using a credit card are not eligible for grace period. Interest on such transactions would be levied from the withdrawal date itself.

Credit Card Statement

Credit card statement (or credit card bill) is generated every 30/31 days. The bill generation date depends on the date on which the credit card is first issued, and the same date will be followed for the subsequent months.

Besides the bill amount which is also called the outstanding amount on the card, the statement also provides a detailed history of all the transactions conducted during the billing period.

It also reflects the total credit limit, available credit limit, cash limit, due date and other related information.

The statement is typically mailed to the cardholder’s registered e-mail every month. However, if the total outstanding balance is less than a certain cut-off, say Rs.200, no statement will be generated.

Credit Card EMI

Credit card EMI is one of the useful features offered on credit cards. There are various options to use the EMI facility.

  1. Opt for EMI while transacting
  2. Convert to EMI after the transaction

Credit cardholders with the first option can convert their purchases instantly into EMI while carrying out a transaction. However, the product/service or the retailer should have partnered with the card issuer.

The second option allows the users to convert any of the transactions or the total outstanding on the card into easy monthly installments (EMI).

However, the request for conversion should be made within a specific period from the date of the transaction, say 20-30 days.

While availing the facility, cardholders have the option to choose the repayment period which typically ranges from 3 to 24 months.

Some issuers offer 0% interest while the others charge a low or normal interest rate. Furthermore, a processing fee of 1-2% of the converted amount may also be levied.

Once you opt for the facility, you need to repay the EMI amount every month. The associated principal amount and the interest charge, if applicable, will be added to the minimum amount due on the card.

Benefits of a Credit Card

Welcome Gift – Many banks offer a welcome gift to new credit card applicants once the card is issued to them. This gift can be in the form of bonus points, gift vouchers, discounts, etc. The welcome gift differs depending on the card and the bank.

Rewards Program – All credit cards generally have a reward program, which allows cardholders to earn reward points on every transaction they make using their cards. The amount of points that cardholders can earn per transaction is fixed and differs from card to card. The points that card members collect can be redeemed for various gifts that are listed in the rewards catalogue of the cards. These gifts can be discounts, product, services, cashback offers, etc. Some credit cards allow card members to redeem their points against air miles and cash as well.

Fuel Surcharge Waiver – Many banks offer fuel surcharge waiver to credit cardholders when they spend specific amount of money on fuel every month. This offer is available on fuel transactions made at all Indian petrol bunks.

Cashback Benefits – There are certain credit cards that offer cashback benefits to the customers. The amount of cashback that will be offered depends on the provider.

Lifestyle Benefits – Cardholders can enjoy various lifestyle benefits on their credit cards. Lifestyle benefits include dining, shopping, golf, wellness, entertainment, etc. privileges.

Travel Benefits – This is one of the major reasons for credit cards being so popular among people. There are some credit cards that offer amazing travel benefits to the customers. Travel benefits include air miles, airport lounge access, travel insurance, airline offers, hotel offers, etc.

Airport Lounge Access – Some credit cards offer complimentary airport lounge access to the cardholders. The offer varies from one bank to another. Some banks put a limit on the number of visits, while some others allow access only to Indian airport lounges.

Exclusive Privileges from Visa/American Express/MasterCard – Visa, MasterCard and American Express are three popular and recognized credit card variants. Depending on the variant of your card, you can enjoy exclusive lifestyle, travel, etc. offers from MasterCard/Visa/American Express.

Add-on Cards – Many banks allow their credit cardholders to apply for add-on cards for their immediate family members. Most card issuers offer add-on cards for free, but some of them limit the amount of add-on cards that one can apply for. Cardholders can enjoy all the privileges of their primary cards on their add-on cards.

Air Miles – Certain credit cards such as travel or Airline cards offer Air Miles to their customers. These miles can be JPMiles, Air India Air Miles, etc. Cardholders can collect these miles and redeem them to avail flight tickets and other travel benefits.

Features of a Credit Card

Banks offer amazing features on their credit cards. These features vary depending on the card provider and the type of credit card that people purchase. Some of them are as follows:

Reward Points Program: Most credit cards offer a reward points program, which allows cardholders to earn reward points on every transaction they make using their cards. A few exceptions to it is that fuel transactions, insurance payments, gold or gold jewellery purchases, utility bill payments, cash and EMI transactions are typically not eligible for reward points.

The accrued reward points can be redeemed for various options offered in exclusive rewards catalogues provided by the issuers. However, card members need to earn minimum reward points before going for redemption.

Airport Lounge Access: Complimentary airport lounge access and membership to Priority Pass Program are one of the most common features offered on most credit cards. Though you may not find the features on a basic credit card, most next to basic credit card offers complimentary lounge access with a limited number of visits per year, free membership to airport priority pass programs and others. With such a feature on credit card, members can enjoy free lounge visits to both domestic and international airports.

Fuel Surcharge Waiver: Another common aspect offered on most credit cards is the fuel surcharge waiver facility that waives off the 1% surcharge that is typically charged on all card transactions conducted at petrol stations.

Insurance Coverage: While some premier cards provide a comprehensive insurance policy that provides coverage against air accident, life, lost baggage, lost card, outstanding, etc. On other cards, the cover is limited to a few aspects.

Global Acceptance: Today, most credit cards that are issued in India are international cards and are accepted by various merchants all over the world.

Balance Transfer: Credit cardholders can transfer the outstanding balance of their existing cards issued by one bank to the credit card account of another bank. Doing so helps them in saving money and repaying the amount at a low rate of interest. Banks offer various balance transfer options to their cardholders allowing them to repay the amount on a monthly basis within a tenure of their choice.

EMI Conversion: The feature allows the credit card members to convert their credit card transaction into easy monthly instalments (EMI). They can either choose to convert the total outstanding on their card into EMI, a specific transaction, especially big-ticket purchases into EMI and can also convert merchant transactions into EMI.Generally, these plans have very attractive interest rates and different repayment tenures. The EMI conversion will be done with no other documentation and most of the times instant.

Lifestyle Benefits: By partnering with various merchants, credit card issuers provide attractive discounts and offers on various lifestyle categories including dining, shopping, travel, wellness, entertainment, etc.

Travel Benefits: Frequent travellers can make the best use of the travel credit cards that provide travel-related benefits to the cardholders. Some of the common benefits offered on travel credit cards include air miles accrual and redemption for air tickets, free travel insurance, discount offers on domestic and international flights, complimentary lounge visits, discounts on hotel booking, and concierge services.

Various Elements Printed on a Credit Card

A credit card might look like any other card with number, logos and other information. But are you aware that each element on a credit card has a purpose? This section will help you understand the significance of each and every element printed on the front and rear side of a credit card.

Let’s discuss the elements on the front-side of a credit card.
  • Credit card number: The 16-digit number is one of the prominent elements of a credit card. If you think it’s a random, machine-generated number, you’re wrong. Each digit or a set of digits of the number not only provide specific information but are also used to identify the authenticity of the card, just by doing a simple math.
  • The logos and names on the credit card: The next prominent components on a credit card are the issuer’s logo, the name of the card, card networks such as Visa, MasterCard, RuPay, etc., the cardholder’s name, and the validity date.
  • The chip and the contactless icon: These are the new entrants, we can say. With the Reserve Bank of India (RBI) mandating the conversion of all magnetic stripe-only cards into EMV-chip-based cards, all the new credit cards issued after 31 January 2016 are chip based. If your card is upgraded, you can see an EMV chip on the front side.

Another latest feature that has been introduced by credit card issuers is the contactless payment feature. If your card has the feature, you will find a symbol similar to a Wi-Fi symbol on your card.

Now let’s move on to the back-side of a credit card.
  • Magnetic stripe: Despite the introduction of EMV chip-based cards, the magnetic stripe, which carries all the crucial account information, still exists till the time all the retail terminals in India are upgraded to accept chip-based cards. This means, even though you receive a credit card very recently, it’s likely that you will see both chip and stripe on your card.
  • CVV: The CVV or Card Verification Value is a security code that is used as a fraud-prevention tool. The CVV is typically used for online or card-not-present transactions. While VISA and MasterCards have 3 digits in the CVV, Amex has 4 digits.
  • Signature box, hologram, and others: The signature box is another security feature on a credit card. Every cardholder needs to sign in the box to make the card legally valid. In case suspicious cases, the signature on the card will be cross verified with other signature proofs the cardholders carry.

The hologram is the glittering little sticker that prevents physical copying of the card. It contains various layers with images imprinted at different angles. Its design makes it hard to copy using a scanner or other instrument. Hence, it also acts as another security feature on the card.

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6 Best Credit Cards in India 2019

BankFacilities On Credit card

HDFC Bank Diners ClubMiles Card

Apply Credit Card Online

  • Get 1,000 reward points as welcome gift.

  • Enjoy annual fee waiver by spending Rs.1 lakh or more in the previous year.

  • Earn 4 reward points for every Rs.150 spent.

  • Up to 6 free lounge visits per year to more than 700 lounges worldwide.

  • 15% discount and other benefits at leading restaurants across India.

  • Concierge services to assist travel needs.

  • Redeem reward points for flight ticket or hotel bookings.

IndusInd Bank Platinum Credit Card

Apply Credit Card Online

  • Pay no joining fee when you apply for the credit card through Loan Qubes.com

  • Enjoy the benefits offered by the card free for life with the no annual fee feature.

  • Welcome gifts include gift vouchers from various global brands.

  • Free access to popular golf clubs, complimentary golf games and lessons hosted at leading golf clubs.

  • 15% discount and other benefits at leading restaurants across India.

  • Complimentary membership to airport Priority Pass.

  • Avail up to two free movie tickets per month.

IndusInd Bank Platinum Aura Edge Credit Card

Apply Credit Card Online

  • Pay no joining fee when you apply for the credit card through Loan Qubes.com

  • With zero annual fee, enjoy the benefits free offered by the credit card for life time.

  • Welcomes on board with free gift vouchers from top brands.

  • Dedicated concierge service for pre-trip assistance, exclusive booking, hotel reservation etc.

  • Complimentary membership to airport Priority Pass Program.

  • 'Total Protect' plan that covers unauthorised transactions and counterfeit fraud in case of lost or stolen credit card.

Citi Rewards Credit Card

Apply Credit Card Online

  • Pay no joining fee on the Citi Rewards Credit Card

  • Enjoy annual fee waiver when the spends in a membership year exceed Rs.30,000.

  • Get 1,500 bonus reward points as welcome gift.

  • 10 reward points for every Rs.150 spent using the credit card at departmental stores and on apparel purchases.

  • Enjoy 300 bonus reward points on monthly spends of Rs.30,000 or more.

  • Redeem reward points for fuel purchase, air miles, gift vouchers and cash against card outstanding.

Citi Cashback Card

Apply Credit Card Online

  • Enjoy cash back benefits offered by Citi Cashback Credit Card at minimal joining and renewal fee

  • Built-in contactless technology that enables fast and secure transactions at POS terminals.

  • 5% cashback on movie ticket bookings made using the credit card

  • 5% cashback on all telephone bill payments

  • 5% cashback on all utility bill payments made through Citibank online Bill Pay facility

  • 15% off on dining bills at participating outlets.

  • Accrued reward points will be automatically adjusted against the credit card statement in multiples of Rs.500.

Kotak PVR Gold Credit Card

Apply Credit Card Online

  • Pay no joining fee for the Kotak PVR Gold Credit Card.

  • Built-in contactless technology that enables fast and secure transactions at POS terminals.

  • Get up to 2 free PVR movie tickets on monthly spends of Rs.15,000 or above.

  • Fraud coverage worth Rs.50,000 on lost or stolen card.

  • Add-on cards for immediate family members with all the benefits of the primary card

  • Set limits on the add-on cards as required.

Documents Required to Apply for a Credit Card Online

Proof of Identity/ID proof
  • Passport
  • PAN Card
  • Ration Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving License
Proof of Address
  • Telephone Bill
  • Electricity Bill
  • Passport
  • Ration Card
  • Rental Agreement
  • Aadhaar Card
Proof of Income (For Salaried)
  • Salary Certificate
  • Recent Salary slip/s
  • Employment Letter
Proof of Income (For Self-Employed)
  • Certified Financials
  • Recent ITR (Income Tax Returns) Statement
  • Audited Profit and Loss Statement or Balance Sheet
  • Proof of business continuity
Credit Card FAQ’s
  1. What is a credit card? A credit card can be used to purchase services and goods on borrowed credit from the bank that has issued the card. Every credit card comes with various privileges and benefits to suit the lifestyle of a customer.
  2. What are the key benefits that Premium credit cards offer?Premier credit cards are signature cards from banks which come with flexible spending limits, lifestyle privileges, travel benefits, cashback offers, VIP lounge access, concierge services emergency assistance and complimentary insurance cover. Most premium credit cards can be procured only through invitation.
  3. How is redemption done on a cashback credit card?The cashback that is earned by a customer can be automatically got as statement credit from the bank.
  4. How is a secured credit card issued by a bank?A secured credit card is generally issued against a fixed deposit, which has been placed by the customer while availing the card. Any minimum amount due or late payment fee that has to be paid will be taken from the deposit. Secured credit cards help customer build a good credit history
  5. How does a prepaid credit card work?A prepaid credit card works like a debit card, where the money is taken from an account associated with the card. Users can load cash on the prepaid credit card and can spend up to the available amount limit on the card.
  6. What are the features of a Business credit card?Business credit cards come with features like business savings plans, rewards programs, cash advance facility, lounge access and customers can also get their company name embossed on the card.
  7. How can a customer select the best suited card for himself?Any customer should select a credit card according to his everyday needs and lifestyle requirements. The privileges offered with a particular credit card should be beneficial and should add value to a customer.
  8. Can a credit card be procured by any individual in India?A credit card can be procured by an individual with a regular income and also having a good credit score. Most banks mandate that applicants should be above a certain age limit and should also meet a stipulated income criteria.
  9. What is the minimum criteria for applying a credit card in India?The minimum requirement to be met while applying for a credit card would be the age criteria. According to the bank, the age criteria varies from 18 to 21 years for a credit card approval to be got.
  10. What are the key benefits of the balance transfer option on a credit card?Customers can easily consolidate multiple credit card balances onto a single card and repay back with flexible tenure options at low interest rates.
  11. Do banks levy any balance transfer fees on customers choosing this option on their credit cards?Yes, most banks generally levy a certain percentage as processing fee, when a balance transfer on a credit card is done. The processing fee varies with different banks and customers have to pay this amount with the first monthly instalment.
  12. How can users check the available credit on their credit cards?Credit card holders can refer to their monthly statements to get the available credit limit. The other options offered to customers are via SMS banking or internet banking services. All banks provide these facilities, where customers can check the available credit by sending an SMS and receiving an alert or by accessing the statements on their internet banking accounts.
  13. What are the highlights of the introductory period of a credit card balance transfer?When a credit card balance transfer is done, every bank offers an interest free introductory period to the credit card holder. This interest free payment period ranges from 3 to 6 months after which the card holder has to repay the instalments with an additional interest rate.
  14. What are the type of purchases that can be made using a credit card?A credit card can be used to purchase goods, book travel tickets, perform online transactions and also make reservations for services.
  15. Do credit card issuers in India offer co-branded credit cards?Yes, there are various co-branded credit cards available in the market from different card issuers. The privileges available in a co-branded credit card are generally determined by the issuing bank.
  16. Can customers increase the predetermined credit limits on their credit cards?Yes, most banks give the option of increasing the credit limit available based on the usage pattern. Sometimes the banks might automatically increase the credit limit after reviewing the customer’s spending pattern. Otherwise if a cardholder wishes to increment the credit limit, then a special request has to be placed with the concerned bank.
  17. What is a Purchase introductory rate?The purchase introductory rate is the low interest rate that is offered during the first few months of the credit card usage. This introductory rate is generally given to customers with good credit scores. These rates might be applied only to purchase transactions or balance transfers done by the card holder.
  18. Do credit cards come with specific cash withdrawal limits?Yes, most credit cards come with preset cash withdrawal limits, which is generally communicated by the bank to the customer at the time of approval. Banks might also levy additional withdrawal charges on every transaction done at an ATM within India or abroad.
  19. How does a credit card work as a cashless payment instrument?A credit card is a payment card issued by a particular bank for customers looking to avail instant credits to easily purchase goods and services without spending a single penny from their pockets. The bank extends a line of credit with which the user borrows money, to be paid to a merchant. The cardholder is required to pay back the borrowed sum of money subsequently to the lender bank along with extra interest rates.
  20. How do I own a credit card in India?Customers need to get in touch with an executive from a bank of their choice and submit a filled-in application form with the required documents. The bank will process your application after appraising your credit history and will then approve the new credit card according to your requirements.
  21. How important is it to understand the interest rate charged by a bank on a particular credit card?In India, banks charge the highest rate of interests for credit cards, from 36% to 42% per annum. A bank decides the interest rate for a particular customer based on his credit history, financial capability and also depending on the type of card he chooses. Applicants with good credit scores and regular payment patterns get the best deals on their credit card interest rates.
  22. What are the different payment networks utilized by banks in India for credit card transactions?Banks in India have tied up with Visa, MasterCard and American Express (AMEX) to process credit card payments, connecting merchant accounts with the acquiring banks.
  23. What are the eligibility requirements to be fulfilled while acquiring a credit card?In India, banks generally offer credit cards to individuals above the age of 21 and with a steady monthly income. As part of their verification process, banks do a deep dive into the customer’s credit history and assess previous payment patterns to understand the customer’s financial situation. Only after ensuring that the applicant has the financial capability to repay the expenses incurred using a credit card, will the bank approve the customer’s application.
  24. Is there a minimum salary criterion required to be met while applying for credit cards in India?Yes, in India applicants are required to earn a minimum of Rs 75,000 to 1 Lakh per annum, though this criterion varies depending on the type of the card.
  25. What does APR refer to with respect to a credit card?Annual Percentage Rate (APR) or the ‘’cost’’ at which a customer takes credit from a bank, is the simple interest rate charged by a bank on expenses incurred on a credit card for a year.
  26. Do banks levy any charges for late payment of credit card bills?The best mantra while managing a credit card is to ‘’Pay as and when you can”. Delaying a credit card payment is not a wise option, as banks tend to impose high late payment fees and gradually increase the interest rates charged. The customer would actually end up paying way more than his original purchase amount.
  27. Do add-on or supplementary cards carry the same features as their primary credit cards?Add-on cards can be taken for family members of the primary card holder with extra charges anywhere between Rs 125 to Rs 1000. The credit limit of the primary card gets carried over to the new card with similar features. Also customers can get a comprehensive bill with details of both the cards.
  28. How do global cards help a frequent traveller?Global credit cards give a customer the leeway of instantly performing cashless transactions from any corner of the globe. Accepted worldwide, global cards give you the flexibility of spending in any foreign currency and later paying your bills in your local currency. A customer can also avoid the hassle of carrying huge amounts of cash or using traveller’s checks.
  29. What do credit card reward programs offer?Credit card reward programs have been introduced by lenders to popularize the various cards they offer by rewarding a customer for transacting using their credit card. The cardholder is awarded points as per his expenditure for purchasing goods and services. The accumulated points can later be redeemed by customers for certain discounts and gifts as per the bank’s guidelines.
  30. What measures are Indian banks required to take to avoid credit card fraud?The Reserve Bank of India mandates the provision of multiple levels of authentication from banks, for customers using credit cards to make an online purchases. Additionally, customers are advised by banks to use their credit card credentials only in encrypted internet connections to avoid fraudulent transactions.
  31. How does the cash advance facility help an Indian credit card holder?Customers can also use their credit cards as ATM cards and withdraw a stipulated amount of cash, preset by the bank as cash advance. Though this feature gives a customer access to instant cash, the bank charges very high interest rates for credit taken using this facility.
  32. What are the different online and offline modes available to customers for making credit card bill payments?A. Customers can make outstanding credit card bill payments using the following online modes – Net Banking, NEFT / RTGS Transfers, Debit Cards, Mobile Applications, Standing Instructions, Visa Money Transfer, Bill Desk, etc. Offline modes include cash, cheques, demand drafts, etc.

Credit Card Tips

What Happens after I Swipe My Credit Card at a Merchant’s POS Machine?

Of course, the million dollar question. While the mechanics of using a credit card on a day-to-day basis isn’t too complicated, the associated back-end process associated with a simple card swipe is too technical for a common individual to comprehend. In actuality, the procedure is very simple and safe-

  1. Purchase over, you hand the credit card to the retailer to pay for your purchase. He swipes, with an accompanying smile, of course.
  2. The merchant’s Point of Sale (POS) system is connected to the merchant’s bank via a communication link.
  3. Thanks to the POS system, your details are verified in real-time using the electronic verification system by the merchant’s bank. The verification is with regards to your credentials, validity of the card and availability of sufficient balance to pay for the purchase.
  4. Post the verification from the merchant’s bank, the details are forwarded to your bank for payment authorization if all the information is in order.
  5. When the merchant’s bank receives this authorization, it blocks the requisite amount from your credit limit to account for the purchase later on. Next, it generates an approval code that is transmitted to the merchant.
  6. At the merchant outlet where you stand for the clearance to affect quickly, the retailer receives this code and must key it in to obtain two charge slip copies from the POS system. One of these slips signifies your agreement with the card issuing bank to pay for the current purchase. You sign on this slip and return it back to the retailer. The other copy is yours to take away from this transaction.
  7. Safe, comprehensive and fast, all of these steps were affected in less than 2 minutes. Neat, right?

Borrowing from a popular axiom, ‘With great power comes great responsibility’, and the same holds very true in the case of credit cards. While a handy financial help, a source of ready cash and a safe and beneficial way to pay for your purchases, the misuse of this facility could be detrimental to your long term financial health. Credit card debt, defaulting on your monthly repayments or drawing up a massive pile of credit card purchases and consequently, a stiff interest rate are things to be constantly aware of. The best way to enjoy your credit card is responsibly and with caution and tolerance. While the temptation may be high to unleash a shopping spree with your brand new credit card, remember, the money you spend is not your own- it must be returned back, with interest and on time!!


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