Credit Card – Features A credit card is like a magic box. It provides numerous benefits, and if you use it right, credit cards have a lot to offer. Here are some of the amazing features of a credit card. 1. Cash alternative- A credit card is the best alternative to cash. You don’t actually need to carry cash anywhere, just use your card to pay bills. It is highly feasible to carry one card all around the world rather than hiding cash at various places in your luggage. 2. Good credit limit- Most credit cards are issued with a handsome limit. You may not have a certain amount of money in your account at any point, but you can use your credit card to pay large bills. 3. Allows both foreign and domestic currency payment- Many of us like to shop from foreign websites or when we go out of the country, we need to pay bills. For situations like these, credit card offers payment options in both domestic as well as foreign currency.4.Records of all transactions at one place- You can find a record of all your transactions at one place very easily. 5. Regular offers and benefits- Most credit cards offer amazing benefits and come up with regular offers for cash back, discounts, and bonus points and hence use wisely. 6. The grace period for paying the debt- Generally, while borrowing credit from a bank or any other financial institution we have to pay interest. However, credit cards offer a grace period to pay back borrowed amount without interest. 7. Cash withdrawal facility available-Iin case of an emergency, you can easily withdraw cash from your credit card, but this will be charged at a higher interest. 8. Service charge included in used amount- All the transactions from a credit card are subjected to a service tax, and many issuers give schemes to reverse this tax. Benefits of Credit Card If you use your credit card intelligently, then you can avail various benefits from it without paying any extra amount. However, if you don’t have control over your spending habits, then you might end up losing a huge amount of money on interests. Here are some benefits you can reap from your credit card if you use it logically and cleverly. 1. Flexibility- Credit cards give you the flexibility of paying a large bill all at once. You don’t have to wait to save money. You can simply pay with your credit card and save the money until your next billing cycle. 2. Credit Protection- Most credit card providers offer credit protection of some amount. So, if your transaction goes wrong or any fraudulent activity happens, you won’t lose your money. This is not possible in case of debit cards and cash; your money will be gone for real. 3. Take credit for free- If you pay your credit bills before the end of next billing cycle, you won’t have to pay any interest. 4. Receive extra benefits while spending- Most credit cards give you additional benefits such as cash back, discounts, and loyalty points. 5. Take a loan on your card- Sometimes when you really need the cash or money, you can take a loan on your credit card. The interest will be a bit costly, but this is a great option for withdrawing money instantly. 6. Make EMIs on large credits- If you have a good limit credit card, then you can opt for EMI payment option for a big bill.
Primary Credit Cards in India We all know how a credit card works – you pay for your purchase and this credit is deducted from your total available credit amount. Now, the total credit that you take on this card in a month should be repaid generally in 20 to 45 days’ time (the billing cycle) to avoid paying interest on the borrowed money. Credit cards are really feasible, and if you use it right, these cards can really help you in case of an emergency and also to build a good credit score. Other benefits of credit cards include being able to pay online, which is not possible in case of cash, and you can even take a loan on credit cards or use EMI options for repayment of large credits. Most cards offer you amazing benefits including cash-backs, discounts, loyalty points, memberships, petrol discounts, and lounge access. All these things are hard to get with debit cards or cash. However, to avail all these useful benefits, you have to choose the right card first. Here’s our list of 10 best Indian credit cards. These credit cards are simply worth having as they offer various discounts, lounge access, movie tickets, yearly benefits, cash-backs, petrol cash back, and other rewards. 1. ICICI Bank’s Coral Contactless Card 2. HSBC’s Visa Platinum Card 3. IndusInd Bank’s Platinum Card 4. IndianOil’s Citi Platinum Card 5. SBI’s Platinum Card 6. Jet Airways American Express Platinum Card 7. HDFC Bank’s Diners Club Card 8. Citi Bank’s Cashback Card 9. Kotak PVR Gold Card 10.Axis Bank’s Neo Card