Type your email…

let us discuss the different aspect of credit card



·        eligibility to apply for a credit card?

·        factors affecting your credit card eligibility?

·        What is Annual percentage rate (APR) of a credit card?

·        What is minimum repayment in a credit card?

·        What is annual fee in a credit card?

·        What is introductory interest rate?

·        What are loyal points or rewards in credit card?

·        What is cash back in credit card?

·        What is credit card limit?

·        What is balance computation method in credit card?

·        What are penalties in credit card?

·        What are different credit cards offered by SBI?

·        What are different credit cards offered by Axis Bank?

·        What are different credit cards offered by HDFC?

·        What are different credit cards offered by Kotak Mahendra Bank?

·        What are different credit cards offered by City Bank?

·        What are different credit cards offered by Bank of America?

·        What are different credit cards offered by Discover?

·        How to apply online for a credit card?

·        How to apply offline for a credit card?

·        How safe is credit card transaction?

·        Our research team report on credit card

·        Pros and Cons of different credit cards.


·        Frequently asked questions


#1 What is eligibility to apply for a credit card?

·        You must be of 18 years, however, few banks require the minimum age as 21 years. The maximum

age for credit card applicants in most of the banks is 60 years.

·        Your minimum yearly income must be between INR 1 lakh to INR 3 lakh. However, for the student
credit card, income constraint is relaxed.

·        You must be salaried or self-employed.

·        Citizens, residents or non-residents –all are eligible for a credit card. Few credit cards require

mandatory citizens, for example-Bihar student credit card, etc.

#2 What are the factors affecting your credit card eligibility?

·        Credit Score- Bank authority checks your credit scores online before deciding to issue you a

credit card. A Credit score is your track record of paying earlier debt you had. A good credit score is

between 750-900.

·        Ongoing loan or earlier dept- Your commitment to paying the EMI is one of the important factors

in determining a credit score.

·        Your earning source and your location- Your yearly net income and residing place play an

important role in the determination of credit limit. However, credit limit determination of a card is set

by proprietary software of banks; they do not disclose it. 
 
 


#3 What is Annual percentage rate (APR) of a credit card?

·        The annual percentage rate (APR) is the rate of interest calculated annually. However, if the

borrowed money through credit card is paid on a specified due date, then the customer has not to pay

any interest. If the monthly rate of interest for a card is 2%, then one can easily calculate the APR  of

borrowed money using the formula of compound interest for 12 months.