What Is The Purpose Of Credit Card And How Credit Card Work?

The credit cards are useful for many things, can be used to make purchases when you might not have the cash in your pocket, buy jewellery to groceries products and get rewards and cashback when you make purchases.

Credit cards are becoming popular because of their convenience and ease of use. If you have a credit card, means no need to carry cash with you at any time to make purchases. Nowadays, every single person knows about credit card and have it, in general to an emergency usage. If you want to know more about the credit card, then apply for that. You have two options, offline and online can choose any of them and have it. When you apply for a credit card, you apply to borrow money from the bank for your personal use.

The bank looks at your credit history to consider your application, and if you have a low credit score, you could be refused credit or perhaps given a less attractive deal on the interest rate. And if you have a good credit score, then you will be accepted and, the bank will set a credit limit which is the maximum amount you can spend on the card. The bank will send you a statement every month and detail transactions on your card. It also provides details on the minimum payment you need to make and the payment due date.

Using your credit card can make payments on all your credit cards or utility bills. After having a credit card, you have endless options to make payments as per your comfortability online or offline.

How Can You Get A Fast Credit Card?

To get a fast credit card, need to follow age and documents eligibility part which is set by the bank. The applicant should be above 18 years of age and also have good credit score record. And second instant approval factor is your documents, which should be correct and shared as per banks need. PAN card copy and any other photo ID proof for your Identity, for Address proof, submit Aadhaar card, Voter ID, Passport and the most important thing is Income which can decide your credit limit as well as how much capability to repayment of a credit card.

How DO You Apply Credit Card Online?

In introduction part, we have mentioned that you have two options. Choose any of them and purchase any product with your credit card. If you are planning to apply for a credit card, then firstly find the best card for you which suited your spending habit. For that can check, interest rate, credit limit, rewards, cash backs and other facilities which including on your wish list. After confirming all these things, if you are still unsure about your choice then take help to credit card customer site to know better way about the credit card.

Apply for a card with any bank. First, click on bank’s website page, search credit card section and apply as per your need. For an offline, as per your selected bank, visit the nearest bank branch fill the form and documents.

Will it affect your credit score, if you make few delayed payment?

If you are an impression, to pay all bills at the end rather than every month, it will damage your credit card history. Every delayed of payment damage your credit score and makes it difficult to qualify for loans or new credit cards. In case, you had a medical emergency in the family and unexpected hospital expenses. Faced with a shortage of cash, you might think it is okay to make late payments for a few months, but this is the wrong move, and it will create a negative impact on your score.

Why Are Credit Cards Important These Days?

We have so scared into thinking credit cards are dangerous that we have forgotten what a powerful and integral tool. In one word, plastic money like it or not, we live in a world where a credit card is a king. A credit card opens the door to things like getting your favourite cell phone, dress and much more. Apart from that, many credit cards come with a travel insurance cover, many have an agreement with various hotels and shopping so that you can get the maximum discounts and reward points.

In the market you have many lenders, that’s why first of all go through the different bank’s credit cards privileges and then select one as per most suited in your lifestyle.

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