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.
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.
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.
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.
You can shop online or pay utility bills such as water and electricity bills using a credit card.
Higher you spend with the credit card, more are the reward points you get. You get discounts when you shop using the 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.
20 January 2018, Saturday
A credit score is a number that evaluates your creditworthiness and it is based on your credit history. Lenders get an idea on your repayment ability, through the credit score. CIBIL gives you a credit score ranging from 300 to 900 and you must have a credit score of at least 750, to...
30 August 2017, Wednesday
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
“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...
18 July 2012, Wednesday
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
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
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...