Indianmoney Facebook Indianmoney twitter Indianmoney LinkedIn Indianmoney Google Plus Indianmoney Youtube Indianmoney Instagram Indianmoney Medium
 
 

" Spend now. Pay later. "

Credit Card

What is a credit card?

A credit card means you buy now and pay later. Your bank (issuer of the credit card), pays the amount for the product or a service right away and has to be repaid within a period of time.
This card is very useful if you have to purchase a product immediately and have no ready cash.

What are the documents required to avail a credit card?

You need to submit a copy of your PAN card.
You need an identity proof and an address proof such as a passport, Drivers license or a voter's card as part of your KYC (Know Your Customer), needs.
If you are salaried you show copies of your last 3 months salary slips and bank statements.
You need a Copy of form 16 as well as your last 3 years Income Tax Returns.
If you are self employed you require to show Income tax returns, Your profit and loss account and your business card. You might also have to own a vehicle and your business must have credibility.

Why avail Credit Loan?
Money Is Safe

Money Is Safe

Credit cards can be used in India or abroad. They are easy to carry and can be easily blocked if lost. Your money remains safe.

Special Benefits

Special Benefits

You get frequent flier rewards and fuel point rewards if you use your credit cards to book flights or pay for petrol or diesel at fuel pumps.

Used to Shop

Used to Shop

You can shop online or pay utility bills such as water and electricity bills using a credit card.

Rewards and Cash Back

Rewards and Cash Back

Higher you spend with the credit card, more are the reward points you get. You get discounts when you shop using the credit card.

Eligibility criteria to avail Credit Card

You need to be at least 18 years of age. You will not be able to avail a credit card if you are over 65 years of age.
You require to have a minimum salary of INR 3 Lakhs.
You need to have a minimum Cibil score of 700 for the final sanctioning of your loan.
You must not be in debt or be paying EMI's on too many loans.
If you are a student, you can avail a credit card against your fixed deposit. A certain minimum fixed deposit would be specified.
If you have a savings bank account or a fixed deposit with a bank, you can easily avail a credit card.
If you are working in a non listed or not too popular a Company, then you might face a problem while availing a credit card.

Related Articles

30 August 2017, Wednesday

Victim Of Online Fraud: Get Money Back

Has your bank account ever been hacked and money stolen? If yes...then this is a nightmare. You rush to the bank and inform them of your loss. Someone has withdrawn INR 15,000 from your bank account.  You are a victim of online fraud. Yes, you have lost money but your problems are just begin...

07 November 2016, Monday

How To Calculate Cibil Score For Credit Card?

“Interest on debts grow without rain.” Yes, borrowing money…it’s really easy. It’s repaying the borrowed money which is difficult. That nice shiny plastic card of yours called a “credit card” is a debt bomb. You keep swiping it for all that shopping&hellip...

29 June 2016, Wednesday

MONEY TRAP - 1 : Option To Pay The Minimum Balance On Your Credit Card

There is a saying “Greed is a well which never dries up”. In a World which only says, buy…buy…buy…you are definitely not at fault. What is the first thing you see when switching on the TV? Buy this soap and your skin will glow. Experience life in 3D with a virtual re...

Most Read Articles

18 July 2012, Wednesday

How to Make Claim on a Health Insurance Policy

Formalities for a health insurance claim You can make a claim under a Health insurance policy in two ways : On a Cashless basis and A Reimbursement Claim On a Cashless basis : For a claim on cashless basis, your treatment must be only at a network hospital of the Third Party Administrator (TP...

14 March 2014, Friday

ELSS - Utilizing the Power of Compounding

As the name suggests ELSS invests the whole corpus in equities. Proportions as high as 80-90% of equities are found in an Equity Linked Savings Schemes. It is a special kind of mutual fund that qualifies for tax benefits. Basically Equity Linked Savings Scheme is a mutual fund with a lock in peri...

07 January 2014, Tuesday

Why One Must never Neglect Estate Planning

One of the most common reason for family feuds in India as in the rest of the World is faulty estate planning. Estate planning is a neglected topic in India mainly because of the emotions attached to it. A common reason people neglect to make a will or indulge in estate planning in their younger y...

Get It now!

How about our new look!

 
Great!
Mm.. Ok
Bad