Credit cards can be thought of as plastic money. Issued by financial institutions (mostly banks), they offer
money (credit) that needs to be repaid within a stipulated time.

Credit cards are a handy way to make payments and keep a record of your purchases. All you need to do is swipe your credit card online or at retail shops and you are done. Many also use these cards to pay monthly bills,
insurance premiums, tax etc.

Besides being convenient, there are other benefits of using credit cards

1) Cash back: Many banks offer cash back opportunities if you use your card to pay monthly bills (electricity)
or for grocery purchases. Besides, online shopping portals to have cash back offers on various products.It is very
beneficial to the online customer.

2) Reward points: Credit card companies offer reward points for any purchases you make with your card. For example, HDFC Bank gives 2-5 reward points for every Rs 150 spent using your card. You can then use these points to purchase gifts (available on the company’s rewards page).

3) EMIs: If you are making a big-ticket purchase (TV, refrigerator, laptop), you can easily convert it to very
low monthly installments. Banks usually charge interest for conversion to EMIs.

4) Grace period: One of the main benefit of using a credit card is you can defer your payments till your bill
your due. Banks offer a maximum 50 to 60 day grace period for paying back your dues.

5) Safety: Credit cards are safer than debit cards as in the case of fraud you are not out of money
immediately. Payment gateways like Visa, Mastercard also offer additional password protection while using the
cards card services provider in Mumbai.

What is the procedure for getting a credit card?

The easiest way to get a credit card is to apply with a bank where you already have an account.

Banks, other institutions that offer credit cards usually check certain parameters to check your debt repayment
capabilities like your monthly income, credit score and so card companies in Mumbai
Applying for a card with a bank where you have an account can also help you get an enhanced credit limit as
your income/spending grows.

Different banks/companies offer different offers on their credit cards, so check the promotions/discounts being offered. For example, if you want offers related to entertainment, you can opt for cards that give you discounts on movie tickets, plays etc. If you are the kind who dines out a lot, you can take a dining special card as an add-on. Some banks offer cash back offers on petrol, diesel purchases, while others give you better online discounts. So do your research before applying for a credit card services provider in Mumbai.

Once you have done your research, you need to submit the documents like identity, address proof to get that
credit card.


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