Benefits of Credit Card: How it is a convenient financial product
Posted by IndiaLends on October 13th, 2020
Whether you want to earn reward points or save more on discounts and deals, a credit card is the best way to avail of all these benefits. One can make use of credit card for day to day purchases and even for buying of large-value items. Beyond convenience, the credit card comes with many other benefits and perks. If one makes use of the credit card wisely, then it proves to be the best credit card for earning rewards, managing financial emergencies, or traveling.
If you are willing to apply for Credit Card, known here about the benefits:
A secure alternative for cash
It is not possible to keep cash with yourself each time and everywhere cash is also not accepted. In that case, the credit card can be hot listed.
Whether you are dealing with any kind of medical emergency or in dire need of cash, credit card proves to be a convenient option as it helps in you in getting instant cash against credit that you can pay later.
Avail of Interest-free credit
The best credit card always offers you an interest-free period on purchases. Under which you are not required to pay interest on your purchases if you are paying off the amount before the due date.
Earn reward points
When you apply for a Credit Card, you get reward points on your transaction. One can redeem the reward points for items, cashback, or vouchers. Some credit cards also offer accelerated rewards
Get the Cashback benefits
Usually, when you go with an online credit card application, some of the lenders also offer cashback benefits to you. The amount of the cashback varies from lender to lender and the chosen card variant.
Easy application process
The best part about applying a credit card is that one can go with the option of online credit card apply. In this pandemic situation, it is wise to stay at home and use the digital platform for filing credit card applications.
Know here about the credit card eligibility
Age: Minimum age to apply for a credit card is 21 years old.
Nationality. Must be an Indian Citizen
Stable Income: To secure the best credit card with a higher limit and lower-interest-rate, you must have a regular and stable source of income. But you need to understand that the income criteria differ from one cardholder to another. Some cards would require an individual to earn a specific amount of salary. If the Credit card is sanctioned to a minor, then the co-signer should have a regular income. It gives you the ability to pay the bills for your purchases.
What documents one need to upload at the time of filing a Credit Card application
Proof of Identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI
Address Proof: Aadhaar Card, Driver’s License, Passport, Utility Bill not more than 3 months’ old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement
Income Proof: Latest one or 2 salary slip (not more than 3 months old), Latest Form 16, Last 3 months’ bank statement
Steps to follow for getting an online credit card:
To apply for a credit card, you need to follow the below-mentioned steps:
If you meet the set eligibility criteria, you will surely get the best credit card offer which makes you fulfill easily all the life-style curated needs in a hassle-free way.
A Book of Al Thatcher Card Magic by Gordon Boyd
After Hours Magic: A Book of Al Thatcher Card Magic by Gordon Boyd with contributions by Tom Craven, Stephen Bargatze, Gary Plants, Mike Powers, Dan Block, Steve Beam, Del Copley, Wynn Mertz, Nick Trost (Courtesy of H & R Publishing), Robert Bengel, Evert