What is the benefit of credit card

Credit Card

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Nowadays in the smart World everyone is using online payment method. there are many different types of facilities available for online payment, using which we can make our life comfortable and easy by making online payment from anywhere. similarly, credit card is also used to full fill our immediate need. credit card is such a facility using which you can make payment later after fulfilling your need.

many people know about credit card and some even use them, but most people don’t have the right information about them. using a credit card, you can spend online or in any other way without carrying any money and can keep your money in the bank and pay the credit card bill later.

What is a credit card?

Credit card is a facility which can be used to keep your money in the bank and not use it at that time instead you can spend a large amount of money using the credit card and pay the credit card bill letter. even if you do not have money in your bank account you can full fill your needs using the credit card and pay for it later when you have money.

A credit card is a plastic card with the credit line on it with when swiped on the machine pays the bill. the credit card has a limit, and you can use it only up to that limit. the credit card limit is set by your bank institution.

Credit card is used for many purpose like online or offline shopping, paying any bills, purchasing an appliance, buying household, or any other items, booking tickets, recharging mobile etc. if we understand the use of credit card in a simple words that support at a given time you do not have money with you or in your bank and you have to spend some money or by something then that such times you can use this card and when you get money that is within a month, you can pay the bill of that card.

Types of Credit Cards

There are many different types of credit card. these types of credit cards are based on the need of that person and its use. the types of credit cards are given below: –

1) Regular Credit Card

Regular credit card this is a good form of card with provide all kind of convenience and security and also comes with reward points and benefits.

2) Premium Credit Card

This type of credit card offers higher credit limit, more rewards points and other benefit it also offers lifestyle benefits like free lounge access at airport.

3) Super Premium Card

This card type is design to complement a top line, more premium lifestyle. this card type offers access to variety of lounges, complementary golf games, personal concierge, best in class rewards and grade dining discount.

4) Shopping Credit Card

Shopping credit card is used for online shopping. this card is specially design for online shopping only. you can use this card for online shopping and get a good discount on the card. there are many bank cards available on which you get good cashback and offers when you stop using shopping credit card

5) Travel Credit Card

Travel credit card specially used for travel to offer special benefits. travel credit card offers great rewards, insurance cover, lawn access, and other benefits while travelling.

Other Credit Card Types

Fuel credit card
entertainment credit card
Secure credit card
Revolt credit card
Student credit card

Benefits of Credit Card

Using a credit card gives you financial freedom. you can get large amount of money through a credit card and pay it back after full filling your need which helps you financially.
Credit cards provide financial security. if the credit card is lost somewhere then you are financial security is not at risk in a such situation you can get the access of the card blocked by the bank.
Using a credit card gives you the benefits of reward and discount if you make any purchase or a will any service using a credit card you get a good amount of cashback reward and discount.
Credit score improvement when used properly credit cards can help improve your credit score which you can help you accessing financial services.
The bank from which you take the credit card gives you a welcome offer in which the user gets some reward point. credit card is a very useful during emergency in which it helps a lot in mobile recharge will payment ticket booking flight booking hotel travels.
The chances of getting fraudulent through credit card are very less. if your credit card is lost or a stolen then you do not have to worry about your money as there is no loss. you can also get that credit card blocked by contacting your bank.
Another benefit of a credit card is that you can get insurance from different companies in which the credit card company give money in case of a health emergency in India or abroad.

Eligibility and rules of credit card

While taking a credit card your salary or the type of work you do is very important. the limit of your credit card is decided on that it is decided whether you will get the card or not.
Having a good credit card score is also important to get the credit card. if your credit score is good then you also get the benefits of good credit.
While applying for credit card, it is very important to have some essential documents like PAN card, Aadhar card, bank account detail etc.
The age of the person is also important while issue in a credit card. many banks maintain age limit for person to get their credit card.
Credit score or CIBIL score is also important. in such a case, your credit score or CIBIL score rating should be between 300 to 900.
While taking a credit card you are salary also needs to be eligible. the bank considers your salary as a parameter to decided how much credit limits to give you according to the bank your salary should be at least 10000 to 25000 per month to get a credit card.

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How to Pay Credit Card Bill

There is a limit time to pay the credit card bill. you must pay the bill before that time. if you pay the bill after that time you have to pay interest. you can pay majority of your credit bill first and the rest later, but you have to pay interest on the remaining amount after the expiry of the time limit. how can you pay your credit Card bills it given below: –

Online payment: – you can pay your credit Card bill using any online net banking app of your bank. it includes option like NEFT, IMPS, Electronic bill pay, National automatic clearing house (NACH).
Offline payment: – in this you can go to your bank and pay your credit card bill from there. in this you can also use the check drop facility.

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