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.
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.
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.
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.
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.
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.
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.
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.
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.
You can use the credit card at the below-mentioned places to conduct transactions –
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.
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
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 (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 is one of the useful features offered on credit cards. There are various options to use the EMI facility.
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.
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.
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.
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.
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.
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.
|Bank||Facilities On Credit card|
HDFC Bank Diners ClubMiles Card
Apply Credit Card Online
IndusInd Bank Platinum Credit Card
Apply Credit Card Online
IndusInd Bank Platinum Aura Edge Credit Card
Apply Credit Card Online
Citi Rewards Credit Card
Citi Cashback Card
Kotak PVR Gold Credit Card
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-
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!!