Before availing a credit card, it is always
advisable to compare various cards to find the best. But the
process of comparing is not that easy, and a lot of people
tend to avoid it, ending up with a wrong card. To solve this
problem, LoanBazaar introduced a platform where people can
compare credit cards offered by different banks online at
one place. This not only helps them in making an informed
decision but also in getting the best credit card available
in India.
Know All About Credit Cards
- All
- Lifestyle
- Shopping
- Travel
- Reward
Make Life Easier with Lifestyle Credit Cards
A lifestyle credit card is an "All-in-one" credit card that provides privileges across categories. From shopping to travel, rewards to cashback, entertainment to dining, you can enjoy special offers and discounts on most of them.
The Lifestyle Credit Cards typically come with a high annual fee and joining fee, which of course, is worth spending for the privileges offered by the cards. Some Lifestyle Credit Cards also have low or no annual fee and are designed for low-income group individuals.
Shopping Credit Cards
The name says it all - Shopping Credit Cards are designed for shopaholics or frequent shoppers. While some cards provide deals and discounts for shopping online, others are designed for in-store shopping. Further, there are co-branded Shopping credit cards that provide offers and rewards on specific brands or stores.
Shopping Credit Cards are typically affordable with a starting annual fee of Rs.500. The benefits offered on the cards including the welcome gifts, reward points, deals and discounts, etc., revolve round the shopping category.
Travel Credit Cards – Make your Holidays Budget-friendly
Mostly providing air travel benefits, the Airline Credit Cards are best suited for frequent travelers. The features and benefits offered on the cards revolve around the air travel. Reward points to air mile conversion, free flight tickets, complimentary airport lounge access, and accelerated rewards on air ticket booking, among others are some common features offered by Travel Credit Cards.
Most of the Travel Credit Cards are co-branded cards offered in collaboration of the card issuer and an Air Carrier or Travel Website. The annual fee of the cards ranges from Rs.500 to Rs.5,000 depending on the benefits they offer
Reward Credit Cards - Get Rewarded while you Shop
Rewards Credit Cards offer accelerated rewards on most of the spending categories. Credit Card issuers are providing a wide variety of redemption options ranging from gifts to air miles to cashback. Reward Credit Card also provide welcome rewards, bonus rewards, milestone rewards, etc., in terms of reward points. Most of the cards offer reward points with unlimited validity.
HDFC Bank Regalia Credit Card
- Joining fee - Rs.0, if you apply on loanbazaaronline.com or Rs.2,500.
- Annual fee - Rs.2,500 (Waived if the total spends exceed Rs.3 lakh)
- Welcomes on board with 2,500 reward points.
- Complimentary Priority Pass Membership providing access to more than 700 airport lounges.
- 15% discount on dining spends at premium restaurants across India.
- 24X7 concierge assistance for travel and entertainment bookings.
- 12 free lounge visits per year to domestic airports.
SBI Card Prime
- Joining fee - Rs.2,999; Annual fee - Rs.2,999 (Waived if the total spends exceed Rs.3 lakh).
- Welcomes on board with a complimentary e-gift voucher worth Rs.3,000 from partner brands.
- 20 reward points on utility bill payments, spends at partner stores, dining, grocery, and movies.
- Free membership to Trident Privilege Red Tier Programme that provides exclusive benefits on hotel stays.
- Complimentary membership to Club Vistara Silver tier.
- 8 free domestic airport lounge visits and 4 international lounge visits per year.
- 4 complimentary golf rounds per year.
Axis MY Zone Credit Card
- Joining fee - Rs.500 (Waived on the spends of Rs.5,000 in first 45 days); Annual fee - Rs.500.
- 25% cash back on movie ticket bookings.
- 1 free airport lounge access per quarter to domestic airports
- Minimum 15% off at select restaurants across India.
- Up to 40 reward points on every Rs.200 spent.
HSBC Visa Platinum Credit Card
- Joining fee: NIL, Annual fee: NIL
- Introductory offer includes Rs.2,000 worth gift vouchers from Cleartrip, 10% cashback for the first 90 days, 3X more reward points on select categories for 1 year.
- Free movie ticket voucher worth Rs.500 on monthly spends of over Rs.50,000.
- 15% off at more than 1,000 restaurants in major cities.
- Up to 10 reward points after exceeding spends limits of Rs.4 lakh.
- Fuel surcharge waiver.
YES Bank Premia Credit Card
- First year membership fee of Rs.1,500 waived off if applied through LoanBazaar.
- No annual fee when applied through LoanBazaar, if not Rs.1,500.
- 25% on movie tickets booked on the BookMyShow app or website.
- Priority Pass Membership and MasterCard program includes 2 domestic lounge visits per quarter.
- Enjoy discounts and offers on dining at partner restaurants all over the country.
- 4 Green Fee waivers at top golf courses in India.
Snapdeal HDFC Bank Credit Card
- Joining fee - Rs.500; Annual fee - Rs.500 (Waived if the total spends exceed Rs.1.5 lakh).
- Welcomes on board with a Snapdeal gift voucher worth Rs.1,000.
- Up to 10 reward points on spends at Snapdeal.com.
- 1% fuel surcharge waiver.
- Free accidental death insurance up to Rs.50 lakh.
- Reward points can be redeemed for Snapdeal gift vouchers.
SimplySAVE SBI Card
- Joining fee - Rs.499; Annual fee - Rs.499 (Waived if the total spends exceed Rs.1 lakh).
- 2,000 bonus reward points on spending Rs.2,000 or more in the first 60 days of card issuance.
- 10 reward points on spends related to movies, dining, grocery, and departmental store.
- 1% fuel surcharge waiver for transactions between Rs.500 and Rs.3,000.
Axis Bank Buzz Credit Card
- Joining fee- Rs.750; Annual fee- Rs.750.
- Welcomes on board with Flipkart gift voucher worth Rs.1,000
- Up to 10% discount on Flipkart.com valid throughout the month.
- 3X more reward points on all online shopping transactions.
- Minimum 15% discount on dining at select restaurants across India.
Kotak Essentia Platinum Credit Cards
- Joining fee- Rs.1,499; Annual fee- Rs.749.
- Welcome gift includes 2 free BookMyShow ticket vouchers.
- Up to 10 reward points for every Rs.100 spent at grocery and departmental stores.
- Access to priority customer service with ASSIST
- 6 free PVR tickets or 1,200 reward points for spends over Rs.1.25 lakh in 6 months.
Yatra SBI Card
- Joining fee - Rs.499; Annual fee - Rs.499 (Waived if the total spends exceed Rs.1 lakh)
- Welcome gift voucher of Rs.8,250 from Yatra.com
- Up to Rs.4,000 off on flight ticket bookings made through Yatra.com
- 20% off on hotel bookings made within India through Yatra.
Air India SBI Signature Card
- Joining fee - Rs.1,499; Annual fee - Rs.1,499.
- Welcomes aboard with 5,000 reward points and a complimentary membership to Air India's frequent flier program - Flying Returns.
- 2,000 bonus reward points on every renewal.
- 8 free lounge visits per year to VISA airport lounges within India.
- Up to 15 reward points on Air India tickets booked through its website and mobile app.
- Reward points can be redeemed for air miles (1RP = 1 Air Mile).
JetPrivilege HDFC Bank Diners Club
- Joining fee - Rs.10,000; Annual fee - Rs.5,000 (Waived if the total spends in a year equals Rs.8 lakh).
- Welcomes aboard with up to 30,000 bonus?JPMiles?and 15 Jet Privilege Tier Points.
- 5% discount on the base fare for revenue tickets booked via Jet Airways website.
- 24 JPMiles on tickets booked on Jet Airways and 8 JPMiles on regular spends.
- Unlimited complimentary golf games and lessons across the globe.
- Personalised 24x7 concierge services for all your bookings.
AXIS Bank Miles & More World Credit Card
- Joining fee - Rs.3,500; Annual fee - Rs.3,500.
- Welcomes aboard with award miles and complimentary Priority Pass Membership.
- Up to 55,000 miles can be earned in the first membership year.
- 4 free visits per quarter to MasterCard lounges within India.
- 2 free visits per year to priority pass lounges across the globe.
- 24X7 concierge services to assist flight ticket bookings, gift deliveries, event bookings, etc.
- Complimentary travel insurance that covers lost baggage, loss of card, and air accidents.
Citi PremierMiles Credit Card
- Joining fee - Rs.3,000 (Waived for Citi Priority customers); Annual fee - Rs.3,000.
- 10,000 free Miles on the first spend made within 60 days of card issuance.
- 3,000 Miles on every renewal.
- 10 Miles per Rs.100 spent on flight and hotel bookings made through PremierMiles website.
- Complimentary access to select airport lounges within India.
Citi Rewards Credit Card
- Joining Fee: Nil; Renewal Fee: Rs.1000. Waived if the annual spends exceed Rs.30,000 in previous year.
- Up to 2,500 bonus points within 60 days of card issuance as part of welcome rewards.
- 10 reward points on apparel and departmental store spends.
- Up to 300 bonus reward points on spends more than Rs.30,000 in a month.
- Reward points can be redeemed instantly for fuel, in-store shopping, online shopping, air miles, cash back, etc.
IndusInd Platinum Credit card
- Zero 1st-year and 2nd- year fees if applied through LoanBazaar.
- Avail best-in-class insurance benefits
- Fuel surcharge on all petrol-pumps all over the country
- Movie ticket benefits twice a month.
- Complimentary golf sessions once a month.
- Priority Pass Membership
YES First Preferred Credit Card
- No annual fee is charged if applied through LoanBazaar, if not Rs.2,500.
- Renewal fee waived off if applied from LoanBazaar, if not Rs. 2,500.
- Make the most of 15,000 reward points received on your first transaction within 3 months.
- Enjoy a renewal benefit of 10,000 reward points with each renewal.
- With the Priority Pass Membership and MasterCard program, get 4 complimentary lounge visits per year.
- Avail discounts and offers with purchasing a wide range from products through YesRewardz.
Apply For A Credit Card
Gone Are The Days Where You Had To Trudge To The Bank To Apply For A Credit Card. Today, Applying For One Is Extremely Simple. All You Need Is An Internet Connection. If You Have That, You Can Apply For A Credit Card Online.
Credit Card Eligibility
Here are the eligibility criteria
Nationality :
You should be a citizen of India or a non-resident Indian (some banks extend
credit cards to NRIs).
Age :
You should be at least 18 years old. In some cases, the minimum age to apply for
a credit card is 21 years.
Employment status :
You have to either be salaried or self-employed and have a steady source of
income.
Income :
Most banks will require you to meet their minimum income requirement before they
approve your card application.
Credit score :
A good CIBIL score, with no history if default goes a long way in making sure
that your credit card application is approved.
A Guide to Credit Cards
Although most of us are quite familiar with credit cards and use them on a regular basis, there're many aspects of the cards, most of which are quite basic, about which we are quite ignorant about. This section discusses all such things every credit card user must know.
Applying For Credit Card online is
Extremely Simple.
- Visit the bank's website.
- Take a look at the credit cards offered by the bank.
- If the bank has a comparison tool, use it to see how each card compares to the other.
- Select the credit card that is the right one for you and hit the 'Apply' button.
- Fill in the required details and upload all necessary documents.
- Submit your form.
To manage your short-term financial needs -
your salary won't be sufficient always.
- To enjoy interest-free credit - You pay interest on a credit card only when the due amount is not repaid on time.
- Ease of use - Ready cash for sudden expenses.
- And the perks that come along - Reward points, discounts,cash-backs, offers air miles and lot more.
Benefits Of Applying For Credit Card On LoanBazaar
LoanBazaar offers end-to-end application process,
wherein you can browse through most of the credit cards offered by various banks, compare and apply for the best credit card in just a few clicks.
wherein you can browse through most of the credit cards offered by various banks, compare and apply for the best credit card in just a few clicks.
Benefits Of a Credit Card
Welcome Gift :
Many banks offer a welcome gift to new credit card applicants once the card is
issued to them. This gift can be in the form of bonus points, gift vouchers,
discounts, etc. The welcome gift differs depending on the card and the bank.
Rewards Program :
All credit cards generally have a reward program, which allows cardholders to
earn reward points on every transaction they make using their cards. The amount
of points that cardholders can earn per transaction is fixed and differs from
card to card. The points that card members collect can be redeemed for various
gifts that are listed in the rewards catalogue of the cards. These gifts can be
discounts, product, services, cashback offers, etc. Some credit cards allow card
members to redeem their points against air miles and cash as well.
Fuel Surcharge Waiver :
Many banks offer fuel surcharge waiver to credit cardholders when they spend
specific amount of money on fuel every month. This offer is available on fuel
transactions made at all Indian petrol bunks.
Cashback Benefits :
There are certain credit cards that offer cashback benefits to the customers.
The amount of cashback that will be offered depends on the provider.
Lifestyle Benefits :
Cardholders can enjoy various lifestyle benefits on their credit cards.
Lifestyle benefits include dining, shopping, golf, wellness, entertainment, etc.
privileges.
Travel Benefits :
This is one of the major reasons for credit cards being so popular among people.
There are some credit cards that offer amazing travel benefits to the customers.
Travel benefits include air miles, airport lounge access, travel insurance,
airline offers, hotel offers, etc.
Airport Lounge Access :
Some credit cards offer complimentary airport lounge access to the cardholders.
The offer varies from one bank to another. Some banks put a limit on the number
of visits, while some others allow access only to Indian airport lounges.
Exclusive Privileges from Visa/American Express/MasterCard :
Visa, MasterCard and American Express are three popular and recognized credit
card variants. Depending on the variant of your card, you can enjoy exclusive
lifestyle, travel, etc. offers from MasterCard/Visa/American Express.
Add-on Cards :
Many banks allow their credit cardholders to apply for add-on cards for their
immediate family members. Most card issuers offer add-on cards for free, but
some of them limit the amount of add-on cards that one can apply for.
Cardholders can enjoy all the privileges of their primary cards on their add-on
cards.
Air Miles :
Certain credit cards such as travel or Airline cards offer Air Miles to their
customers. These miles can be JPMiles, Air India Air Miles, etc. Cardholders can
collect these miles and redeem them to avail flight tickets and other travel
benefits.
FAQ's on Credit Card
A credit score between 300 and 650 is considered a bad credit score by most banks. In most cases, banks will not consider this score to be ideal to offer you a credit card. However, if you have a credit score between 550 and 650, it might be considered poor credit. In these situations, if banks deem you as a responsible borrower, you might be qualified for an unsecured credit card.
The best and the easiest way to get a credit card is to apply for it on a platform like Loan Bazaar. You can compare the features, benefits, fees, interest rates etc. and then choose a card that best suits your needs. You will also benefit from exclusive offers available only on Loan Bazaar. Alternately, you can directly visit the bank's website to apply for a card.
No, you don't have to pay interest on all the transactions. However, if you're not repaying the due amount within the stipulated time, the unpaid due would attract interest along with all the new transactions, till the due amount is repaid in full.
If you already have a credit history, you can check your eligibility, choose a card that suits your lifestyle needs and apply for it on Loan bazaar. If you do not have a credit history, you can opt for a secure credit card usually offered against fixed deposits.
The number one should own is not fixed. It depends on your financial ability and your spending behavior. However, ensure to manage all the cards properly. Use them responsibly, repay the outstanding on time and make sure none of them is affecting your credit score.
The banks typically state that they would take 21 days to disburse a credit card. However, depending on the applicant's profile, availability of documents, verification checks, etc., it might also take a little longer than the stipulated time.
The minimum amount due is the minimum amount a credit cardholder needs to pay in case he/she is not able to pay the total outstanding. It is typically 5% of the total outstanding amount on the card. Paying the minimum amount would save you from the late payment fee.
Not all credit cards do, but there are quite a few credit cards that come with fraud liability protection cover.If your card offers the protection, most of the fraudulent transactions that might happen on the card when it's either lost or stolen will be covered. However, you need to intimate about the loss of the card immediately to the respective creditor.
