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It could be challenging to select the finest credit card for you because there are so many different categories of credit cards. Based on the various categories they fit into, below is a list of the top ten credit cards.
Apply Now| Reward Points |
| Fee Waiver |
| Lifestyle |
| Cash Back |
| Rewards |
| Fuel |
| Lounge Access |
| Shopping and Movies |
| Travel and Dining |
| Movies |
| Welcome Gift | Once a new credit card applicant receives their card, many banks provide them a welcome gift in the form of bonus reward points, coupons, discounts, etc. |
| Rewards Program | Most credit cards offer a rewards programme that enables cardholders to accumulate points for future purchases made with their cards. |
| Fuel Surcharge Waiver | Banks give cardholders a waiver of the fuel surcharge if they use a certain quantity of fuel each month. |
| Cashback Benefits | Customers can benefit from cashback features on several credit cards. |
| Lifestyle Benefits | On their credit cards, cardholders can take advantage of a variety of lifestyle advantages, including deals on dining, shopping, wellness, entertainment, and more. |
| Travel Benefits | Credit cards offer a variety of perks related to travel, such as air miles, access to airport lounges, travel insurance, airline offers, hotel deals, etc. |
| Airport Lounge Access | Some credit cards grant cardholders free admission to airport lounges. Each bank makes a different offer. |
| Add-on Cards | Many banks let their customers to apply for additional credit cards for their close relatives. |
| Insurance Coverage | A comprehensive insurance plan that offers protection against aviation accidents, life, lost luggage, lost cards, outstanding, etc. is offered by several premium cards. |
| Balance Transfer | The unpaid balance on credit cards that have already been issued by one bank can be transferred to a card account with a different bank. |
| Global Acceptance | Today, the majority of credit cards issued in India are those that are accepted by several businesses worldwide. |
| EMI Conversion | The function enables credit card holders to split their purchases into manageable monthly payments (EMIs). |
| Credit Score | Having a credit card aids in improving your CIBIL score. You raise your credit score with CIBIL by paying off your card on time and in full each month. |
A number of variables affect a credit card's qualifying requirements. Review the primary credit card qualifying requirements.
| Eligibility Criteria | Requirement |
| Nationality | Indian |
| Age | 18 years |
| Employment status | Salaried or Self-employed |
| Income | Depends on one bank to the other |
| Credit Score | Good credit score (700 and above) |
Any of the following documents that demonstrate an applicant's identity, address, and income are acceptable.
| Requirements | Salaried Individuals | Self Employed |
| ID Proof | Passport, Permanent Account Number (PAN) card, Aadhaar card, Voter’s ID | Passport, PAN card, Aadhaar card, Voter’s ID |
| Residential Proof | Aadhaar Card, Electricity Bill, Telephone bill | Aadhaar Card, Electricity Bill, Telephone bill |
| Income Proof | Salary Certificate, Recent Salary slips, Employment Offer Letter | Certified Financials, Recent Income Tax Returns (ITR) Statement, Passport |
On April 1, 2022, the Reserve Bank of India (RBI) released new regulations covering credit cards and debit cards, which have since taken effect. The updated rules are as follows:
1. One-Time Password (OTP) to be asked for by card issuers
If a cardholder doesn't activate their credit card within 30 days of receiving it, banks or companies that issue credit cards will need to ask them for an OTP. If the cardholder declines, the credit card account must be cancelled within seven days and absolutely nothing must be charged.
2. Approval of credit limit
The card issuer's permitted credit limit for the cardholder may not be exceeded at any moment without the latter's approval.
3. Interest Rate
The bank or card issuing firms are not required to capitalise any outstanding fees, taxes, or amount owed.
You can apply for a credit card, both online and offline. Due to the COVID-19 pandemic, the credit card application process has been digitized, making it simpler and faster.
By following these 4 easy steps, you can compare credit cards and apply for one on Flocred:
Step 1: Compare credit card offers.
Step 2: Select from the top cards offered by leading Indian banks.
Step 3: Enter a few personal information to verify your eligibility.
Step 4: Enjoy online rapid approval after completing your application. By using the methods below, you can also apply for a card online on the bank's website:
Step 5: Visit the bank's website.
Step 6: Explore the cards offered by the bank.
Step 7: To compare their features and advantages, use the comparison tool, if one is offered.
Step 8: Click the "Apply" button after choosing the card that best suits your needs.
Step 9: Complete the essential fields and submit all required files.
Step 10: Submit your form.
Note: Different banks could have various application processes. For further information on how to apply for a card online, go to the bank's website.
Some essential pointers on how to utilise a credit card are the ones listed below:
Every 30 or 31 days, a credit card statement or (credit card bill) is generated. The initial day the card is issued determines the bill generating date, and that same day will be used for all subsequent months. Along with the bill amount—also known as the outstanding balance on the card—the statement offers a thorough history of every transaction made during the billing period. Additionally, it shows the overall credit limit, the credit limit that is available, the cash limit, the due date, and other relevant data. Every month, the statement is normally mailed to the registered email address of the cardholder. However, no statement will be generated if the total outstanding balance is less than a predetermined threshold, say Rs. 200.
In today's environment, fraudulent credit card transactions are increasingly prevalent. Your credit card information may be taken and misused without your awareness through credit card skimming, phishing, and vishing. In case you receive any shady emails or calls, you must be extremely vigilant. Any fraudulent credit card transactions must be reported to your bank at the very least two days after they occur. You can also block your credit card online with a few banks. Remember that you should be very careful about where and to whom you send your credit card information in light of the rising incidence of cybercrimes.
Credit cards are a vital financial tool that give users the luxury of making purchases now and paying them off at a later time. A credit card comes with a bank-approved credit limit, and the owner is responsible for paying the balance in full on the due date that is mutually agreed upon by the bank and the cardholder.
Yes. When you visit the website of your favourite bank, you can apply for a credit card there, or you can easily compare possibilities and do so on Flocred.
Your renewed card will often have the same number as your out-of-date card, but the CVV (Card Verification Value) number on the new card will be different.
If you already have credit history, you can use Flocred to determine your eligibility, pick a card that fits your needs, and submit an application. You can choose a secure credit card, which is typically provided in exchange for set deposits, if you do not have a credit history.
You can use the credit line provided by a credit card to make purchases, cash advances, and bill transfers. By the day the bank specifies, you must return the money. You must remember the minimum payment made each month by the due date while using a credit card.
This is the maximum that can be charged to a card. A high credit card limit enables you to make larger purchases, which raises your credit scores.
Your credit card does not need to be used every month, but you must frequently use it to keep the bank from classifying it as an inactive account.
A credit score above 750 is ideal for getting a credit card.
You can get a credit card even if you don't have a job and have a sizable monthly cash input into your account.
Yes. Your credit card application may be accepted in one day thanks to the online application system. You won't, however, receive the real credit card the same day.
Yes. Many credit cards come with access to domestic and international lounges at airports.
Yes. The majority of credit cards have a reward point system where you accumulate points for every dollar you spend. These points can be exchanged for gift cards, cash back, or air miles.
There is no set order that one should possess. Your financial capacity and spending habits will determine this. But be sure to handle each card properly.
Credit card applications are typically approved with credit scores above 750. Scores below 750 are typically seen as unsatisfactory, and acceptance could be conditional on submitting security (collateral such as fixed deposits).
Applying for a credit card through a website like Flocred is the best and simplest way to obtain one. You can evaluate the features, advantages, costs, interest rates, and other factors to get the card that best meets your requirements.
No. Not all transactions require you to pay interest. However, if you don't pay the debt within the allotted time, it will accrue interest along with any future transactions until the whole amount is paid.
In the event that a credit cardholder is unable to pay the entire balance owing, they must pay the minimum amount due. Typically, it is 5% of the entire balance left on the card.
Yes. Processing fees are assessed by banks for credit card loans. However, there is a very small processing cost that must be paid.
Ahead of the expiration date, credit cards are automatically renewed. A card that has been reissued with a new expiration date often has one month left on it when the old card expires.
Indian credit cards typically have a three-year expiration date.