A credit card is a payment card which is issued to the user as the system of payments. In this the cardholder is allowed to pay for the goods and services on the basis of promise made by him to pay for them. You can consider it as plastic money. Credit card is the ideal and the quickest mode of taking short term personal loans. The best thing about credit cards is that they are widely acceptable. You can also do internet shopping by using your credit card.
There are numerous reasons available which can explain why it is essential to have a credit card. Some of them are mention below:
There are a number of advantages associated with the credits cards. Some of them are mentioned below:
A credit card basically offers you credit, a charge for a period of time and allows you to pay for the product or service over a span of time. The range of credit days is from 20 to 50 days (which is calculated not from the day of purchase but from the day of billing) for which you don’t need to pay interest. You are having two options: either you can pay the bills in one go or you can pay it in form of instalments every month. Concept of charge card is quite similar to that of credit card but just a single difference is that you can’t carry over your balance like you can do with the credit card. In this you have to pay the dues within the credit period. You can consider debit card as your ATM Card on move. In this you can utilise your bank balance for making payments. After making the purchase using Debit card that much amount is automatically deducted from your bank account instantaneously.
There are three kinds of cards available in India: Master card, Visa and Amex. You can issue these credit cards in Bangalore from the participating banks such as ICICI and Citibank. Master card and Visa are having equal shares in market and is quite popular in India. But Amex is new-comer in India and another thing is that this card can only be subscribed through the American Express Bank.
These are the terms used by the credit card providers to differentiate the credit card services provided on each of them. For instance, Gold card offers you premium segment that comes with better features like more discounts, higher insurance cover, more facilities and privileges. Each of the cards is having their own associated esteem and prestige. You can’t get them in cheap as they come up with highest fees and service charges.
For this purpose, firstly you have to contact a credit cards provider in Banglore. Collect the application form, fill it providing relevant details and submit it after attaching the documents required. The bank will send you the Credit Card in Bangalore by mail after going through a short credit appraisal.
While applying for a credit card, a minimum income level requirement is the preliminary point that every credit card provider consider first. Different banks are having different income requirement ranging from 60,000 to Rs. 2 lakhs per annum. It also depends on the card you are willing to issue and the profile risk you are ready to take. It will be very fruitful for you if you are having a steady source of income. As it offers assurance to the credit card providers that you will be able to pay for the expense after using credit card. The minimum age limit is 21 years and maximum 65 years.
It depends upon the type of card you are willing to issue. For ordinary card, the salary range lies between at least Rs. 70 to 75,000 annually. But for Gold card, it should be upto Rs. 1 Lac 80,000 annually.
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