Category: Credit Card

Important Note in Credit Card Bill Payment

The credit cards are small rectangular cards that are made out of plastic. The credit card is one of the important inclusion that is important in the digitalised world. It is the card that is used to make payment anywhere and everywhere. You can purchase all the items which are sale in this world with the small card. It is a type of loan that you take from the credit card company for a brief period of time. You make the credit card bill payment to repay the company.

It is one of the important things that is necessary for you to remember. The bill contains all the details about the uses and payments made through it. The credit card is one of the powerful tools when it comes to the making payments. It is always handy when you are short of cash and during emergencies. The interest rate is high on the late bill payment while if you purchase the items through credit card and submit the bill on time then no charges are levied on it.

credit cards

So, if you are the responsible buyer then it is one of the best modes of payments. The credit cards can be used to make payments online as well as offline. To continue the benefits of the card and get the best out of it, making the bill payment is the necessary step.

What are included in the Bill?

You should have the knowledge about what is included in the bill of the credit card:

Credit card number : The number of your credit card that is engraved in your card.

Summary of the account : All the purchases made by the card, a summary of it is mentioned with the address of the store or place of purchase, and amount of purchase made.

Payment due: The amount of payment due for the month.

Minimum amount due: Minimum amount payable in order to avoid the blockage or discontinuation of service.

Available credit limit: The credit limit available to the card holder.

Applicable interest rate: The interest rate that will be applicable in the case of late payment or minimal amount due for payment.

Payment due date: The due date up to which you can pay the bill.

How to make bill payments?

The bill can be paid through both online as well as offline method. For the offline method, you can visit the branch of the credit card company and make the payment through cash or cheque.

For the online mode of payment, there are several options like through net banking, debit card, other portals, directly through the credit card portal, mobile applications etc. In the digitalised world there are many options available to us through which we can make the payments at any point in time and from everywhere. You can save your time and energy by paying the bill online. The time to reach the branch can be saved. Also, the money that is required to physically travel to the branch is saved. You can sit in the comfort of your home and make payment. Also, the mobiles have been such powerful tool that if you suddenly have to pay your bill you can do it practically anywhere and everywhere because of it.

ICICI bill payment of credit card-

Through net banking- you have to follow 4 simple steps:

  1. Select your bank.
  2. Provide the details of your credit card.
  3. Confirm payment amount and make payment.
  4. Receive online confirmation of the payment.

Through debit card- It also has 4 steps to complete the bill payment;

  1. Select your card type.
  2. Give all the credit card details
  3. Confirm the amount and it will be debited instantanenously from your account.
  4. Receive the online confirmation.

HDFC bank bill payment of credit card-

  1. Provide the credit card details
  2. confirm payment
  3. get the confirmation

SBI bill repayment- You can pay the bill through NEFT payment, credit card, debit card, electronic payment etc.
Thus, the online payment is the best way to do pay the credit card bills. Since now you have all the information about the credit card bill payment you will be able to pay it easily and quickly. As a cardholder, you should be responsible and smart about the uses of the credit card. It is important to handle it with care and pay the bills regularly to avoid any interest rate that can be levied in the case of late payments. So we can extract the best benefits if we are responsible enough to handle the card and make smart and careful purchases through it.

Things You Should Know Before Credit Card Apply

When it comes to credit cards, there is no denying the fact that they have become the most crucial part of our lives. Today, our lives revolve around them as they cater the diverse needs. Right from shopping, dining, fuelling,  travelling, the usage of plastic money has rapidly increased and so is the dependency of people. This is the reason that every day the figures of credit card apply online are increasing thus grabbing the attention of many. Now, when we say applying for the same, there are various ways through which you can do it. Yes, you read that right! Today, applying for your favorite card is undoubtedly the simplest and easiest thing.  

Moreover, you can not only get your favorite card instantly, but it also allows you to get closer to wishes with the same pace as well. Yes, the moment you have your favorite card in hand, you can use it to meet your various needs instantly. So, if you want to apply for the best card, you have multiple options to do the same. To begin with, you can avail the same online as most of the banks these days provide you this facility, wherein you just need to visit their page, choose a card of your choice and click on the apply now button. The moment you do so, you will be redirected towards a page, asking for your personal and professional details such as age, income, residential address, city, etc. Once you are done filling these details, the bank will further pass on your details and if everything works in your favour, you will be contacted soon by the bank.

credit card

Another reliable option available for you is the option of buying the same at the branch itself. You just need to visit the bank for which you want to avail the card. You just need to fill the form by giving all the required details and then submit the same at the branch itself. If your eligibility matches with the bank’s eligibility, your application for the same will proceed further. But, one thing that needs to be mentioned here is the fact that the entire process is a bit time-taking as it usually takes 8-10 working days to get the approval for the same. Yes, because the verification process    is a time- consuming process, wherein the banks check your CIBIL, verify the details you submitted, and once they are satisfied then only they give approval to your application.

So, now that you know how to apply for your favorite card, it is also important for you to keep in mind the points that are crucial while choosing the one. Yes, that’s absolutely right! Never ever go on the glitz and glamour of a card i.e. never go on the looks and appeal, instead try to find out what all features, privileges and perks it offers. Also, keep in mind , it’s joining, annual/renewal fee, interest rates, late payment charges and other related charges. Most of the times, people while availing a card don’t pay attention towards these parameters as for them what all matter is actually few lucrative offers, look and appeal that’s it. They don’t dig inside to know the real game changers as they can turn your credit card experience from good to bad. Usually, the interest rates charged by most of the banks on various purchases ranges between 2%-3% per month, which means if you fail to clear your debt before the interest- free period (48-51 days), you will end up paying the annual interest of 24%-36%, mind it guys it is the annual interest calculation.

We don’t even realize this fact that the annual calculation of a credit card can actually be so high that it can take a toll on your pocket. This is the reason that people easily fall into the debt consolidation trap and before they know the actual cause of the same, it’s too late for them. So, before you opt for the credit card apply, do remember that it comes with a plethora of important pointers that you should always keep in mind in order to stay away from the future hassles.   

Types of Credit Cards and Eligibility Criteria

The plastic money or credit card is a small card made out of plastic which are issued by the credit card company. It is one of the most essential add-on to the purse. The credit card is one type of loan which is taken for the short period of time. The aim of the credit card is to help the user for digital payment and let them be cashless. The credit card can be used for both online and offline mode of payments. The most important thing to consider is that you buy now and pay later. It is the mode of payment in which the user can make use of the card anywhere and everywhere and can pay the credit card company later.

There are different types of credit cards that can be used for different purposes. The credit cards are one of the useful tools but it charges the high rate of interest on the late repayment. Thus, the due date for the bill payment is needed to be remembered so that the interest rates should not be leveraged on you. It is also the very secured way of payments. The card is secured through the pin number which is known only to the authorized users. Thus, at the time of theft and robbery, you can block the card and be safe.

 

credit card

Types of credit cards

There are different types of credit cards that are available for the user according to the purpose of uses. The credit card is one of the modes of the payment which can earn you the cash back, reward points and discounts which can be utilized by the user for the maximum benefits. Given below is the list of the credit card that is available in the market for the different purpose:

  • Standard credit card
  • Lifestyle credit card
  • Travel credit card
  • Student credit card
  • Reward credit card
  • Balance transfer credit card
  • Business credit card
  • & much more.

The eligibility required for the credit cards are-

To get the credit card the eligibility criteria required are mentioned as follows:

  • The applicant should be 18 years old and the maximum age should be 60 years. And the Add-on card holder should be minimum of 15 years old.
  • The applicant should be a salaried individual or self- employed.
  • The applicant should have good credit score.
  • The minimum income of the applicant in the case you are the salaried individual is 1.5 lakh, and if you are self- employed your minimum income should be 2 lakh.

Documents required

The valid and legal documents are required by the credit card company at the time of application. The documents asked by them is mentioned below:

  1. ID Proof- PAN Card/ Driving Licence/Aadhar Card/ Passport.
  2. Age Proof- PAN Card/ Aadhar Card/ Passport
  3. Residence Proof- Utility bills/ allotment letters.
  4. Bank Statement- Last 3 months bank statement/ last 6 months bank passbook.
  5. Income Proof- Latest salary slip/ ITR/ Form-16.

Credit card bill payment

The credit card is a type of loan which needs to be paid on time to avoid any type of interest that are chargeable on the amount. For that, it is necessary to know the various mode through which you can pay your credit card bills. There are various options including the offline and online mode of payments. The credit card bill payment can be made offline by physically going to the branch and settle the bill. The online mode of payment is one of the most popular ways to settle the bill as it is more easy and convenient way. The different types of online bill payment is

  1. Online banking- You can easily access your account through your ID and password and pay the bill of the credit card.
  2. Mobile Apps- In modern days everyone has mobile with them which act as a magical wand and you can make payment from the apps anytime and from anywhere.
  3. Debit card- It is the card which is like taking your account everywhere. So when you enter the details of your debit card through the payment gateway then the money is directly deducted from the account and the payment is done.
  4. Other portals- There are many portals which are the third party and authenticated for the bill payment. You can login and pay through these portals as well.

The credit card is one of the ways through which the payment is done by the authorized user. Credit card does not exist. This bank is relatively new and does not have the much services and products to provide to its customer. The bank is improving and growing meanwhile. It can take some time to start providing the credit card for the users.

Credit Cards HDFC are Here to Cover All Your Lifestyle Needs

Unmatched privileges, jaw-dropping discounts, extreme convenience and much more, many of you will surely agree that credit cards play an integral role in our lives. Today, it sounds almost impossible to imagine a life without a card because we all are so dependent on it to meet our various daily needs. When it comes to owning this plastic money, these days, you have a wide variety of beautifully and thoughtfully designed cards that can serve your multiple needs instantly.

However, one thing that needs to be mentioned here is the fact that different people have different needs in life as each individual is different from other. Some like to travel a lot, some are shopaholics while some spend more on entertainment. Well, whatever, the lifestyle needs you have, for every need you have a card available.

Now, one of the most tedious tasks is to choose a card, which is best for you. If you have plenty of options available in front of you, it’s obvious to get confused. So, what to do in this situation? Well, friends, there is no need to worry as for your reference, we bring to you the best HDFC credit cards  so that it becomes easier for you to make a pick.

hdfc cards

Now, when we say  the credit card offered by one of the leading banks of the country, you will never fall short of choices as the bank offers plenty of cards, belonging to a diverse category if you want to choose one. So, are you excited to know the names, features and plenty of privileges offered by these cards? I am sure you are! Let’s not waste anytime and throw the light on each of the cards below.

Featured:

JetPrivilege World, Platinum Times, Titanium Times and Diners Club Black, these are the meticulously designed cards that you can avail under this category. They come with the welcome benefit of JPMiles, reward points, discounts on dining, etc.

Super Premium:

Personal global concierge, unlimited gold, lucrative discounts, maximum rewards, welcome and much more can easily be yours, if you go for Infinia, Regalia, Diners Club Black and JetPrivilege Diners Club cards.

Co-branded:

If you want to enjoy the benefit of two, you should go for these co-branded cards offered by the bank. JetPrivilege World, Maruti Suzuki NEXA, Titanium Times and Snapdeal are few cards that you can easily avail as these cards offer you many privileges such as reward points, JPMiles, huge discounts on online shopping, welcome gift and much more.

Professional:

Doctor’s Superia and Teacher’s Platinum these are the professional cards offered by the bank to meet the needs of all the professionals. The best thing about these cards is the fact that they come to you with complimentary priority pass membership, welcome benefit, reward points, etc.

Premium Travel:

If you a frequent traveller who travels a lot for professional or personal reasons, you should checkout these appealing cards. The range includes-Superia, AllMiles and Maruti Suzuki NEXA, known for offering you various privileges such as reward points, welcome benefits, priority pass membership and so on.

Premium Women:

In order to cater the diverse needs of all the shopaholic women out there, Solitaire is exclusively for them. This beautifully looking purpled colored card comes with various features and privileges such as shoppers shop voucher, reward points, and 50% more reward points on grocery and grocery shopping respectively.

Premium:

Those who want premium things in life, how can these cards be missed? Explore the unlimited benefits and features offered by Regalia First, Diners Club Premium, Diners Club Rewardz and Visa Signature. Each card is different from the other and offers mind-blowing privileges to enjoy.

Regular:

When it comes to the regular category, you have a standalone winner here i.e. Platinum Plus, which comes with remarkable and amazing features such as reward points, fuel surcharge waiver, 50% more rewards on incremental spends, etc.

Commercial:

Business MoneyBack, Business Regalia, Corporate Platinum and Corporate, this is the range that you can vouch for if you want to explore this category. These credit cards HDFC offer you numerous features such as airport lounge access, fuel surcharge waiver, reward points, online MIS availability and last but not the least discounts at leading five-star hotels.

CashBack:

If you are interested in getting the maximum cashback from the cards, Platinum Edge, Freedom, MoneyBack and Bharat are the few cards, which would be perfect for you to avail. They are available to you with zero card lost liability, reward points, cashback against outstanding amount, fuel surcharge waiver and so on.  

Credit Card Apply Online for Instant Approval

The credit card is one of the known financial products in the modern world. The popularity of the credit card has grown and the process of availing the card has also become easy and simple. With the extensive use of the internet, you can easily get the work done by applying for the credit card online and get the instant approval. In today’s world the need for the speed is important and if we try to do the work manually then it might take time. Whereas applying for it online all the factors are considered quickly and within the short span of time the approval is given.

The credit card is one of the emerging modes of payments and with the world going cashless and opting for the digitalised mode of operations, the importance of the credit card has suddenly increased. The main idea is to have the paperless and more secured form of money. The credit card is easy to handle as well as portable enough to carry easily in a wallet. The credit card is secured with the password which is known only to the user and can be used only by the authorised user. The credit cards can be blocked by the user in case of theft or misplacements. The uses of credit card can be done for all kinds of purchase whether you shop online or offline. It is one of the best ways to deal with emergencies when you are short of cash or do not have enough account balance to support you.

apply credit card

Factors affecting the online application of the credit card:

The credit history: The credit score plays the vital role in the approval of the credit card application. It is one of the important criteria as the credit card company gives the card based on the previous credit records. The good CIBIL score will help you to get the credit card easily. Whereas the bad credit score can reduce the chance of getting the approval of the credit card.

The purpose of availing: The reason or purpose of availing the credit card is also taken into consideration. It shows your requirement to get the credit card and if it is possible in your monthly salary to go for it or not. You should consider the various cards and narrow down your choices before opting for the purpose to avail the credit card.

Fulfilling the eligibility criteria: The eligibility criteria for the credit card you want avail is must to be fulfilled in order to get the approval. The fulfillment of the eligibility criteria is a must for the approval of the application. It includes the age, minimum monthly income, job stability etc. Everything is considered by the credit card company before sanctioning the approval of the credit card application. You also require to submit the complete, valid and legal documents that are asked by the credit card company.

Benefits of applying online:

There are many benefits of filing the online application for the credit card. Few of the benefits are mentioned below:

  1. The main benefit is that you don’t have to physically make the effort to visit the branches of the credit card company. So, you can easily sit in the comfort of your home and fill the application form.
  2. The online application of the credit card saves your time and money both. As you can sit in your home and do the work it saves a lot of traveling time. Also, the money that is spent in travelling to the branch is also saved. Thus, overall it makes your life easy by saving both the time and money at the same time.
  3. The online mode gives you the chance to compare the different cards available and you can select the best one for yourself.
  4. The online application of the credit card has one of the main benefits that you can get the instant approval and the process is completed quickly.

How to Apply online:

To fill the online application of the apply credit card online the first step is to decide the credit card you want to avail. you should shop around a bit and check the benefits and interest rate payable on the different credit card that is given by different credit card company. Then you should visit the website of your desired credit card company. Click on the online application for the credit card. Next, give all the information asked in the application and select the desired card that you want to avail. Make sure you fill the complete and right information in the application. Submit the documents required and click submit. Next, you have to wait for the approval of your application.
The best way to get a credit card is to fill the online application. It is one of the easiest and convenient ways to get the credit card.

 

Article Source: https://article.wn.com/view/2017/02/09/Credit_Card_Apply_Online_for_Instant_Approval/

How Credit Card Calculator Works

Credit cards are surely a boon and the best innovation in the banking sector. But, this friendly card can surely spoil your happiness if not used properly and particularly if you fail to do the full payment on time. A credit card holder especially who ignored making the full payment at once can easily relate to the shock they must have gone through when their first bill was generated including the late payment fee.

People generally look for the details like the annual fees, card-renewal fees, add-on cards, reward points, etc. kind of information which is not going to help you more than knowing the calculative part behind. Having said that, it is quite understood that we are busy but we must know the calculation of the interest rate that we have to pay. So, before you apply for a credit card or if you already have one, you must know how the interest calculation is done.

credit card

Now, it is important to understand as a cardholder that the charges are paid on a monthly percentage interest rate which is generally 2-3% per month and is calculated on an average daily balance method for almost all the credit cards in India. The simple formula behind the interest calculation is:

Credit Card Interest Formula

Interest calculated= [(Outstanding amount X 2.50% p.m. X 12) X Number of days] /365

What about the grace period?

Having said that, you must be aware of the fact and facility-the grace period, provided by the bank for the convenience of the customers. This grace period is the duration where there are no charges for the repayment of the outstanding amount of your bill. In simple terms, a customer gets a particular period of time generally 20-60 days extra in addition to the normal monthly payment. However, the grace period from bank to bank and from a card to a card.

For instance, you a card with the interest-free credit card online that is the grace period of 55 days. Now, the billing date falls on the 4th of the month and hence you can spend within the credit limit from the 5th of the month to the 4th of the next month. Hence, the bill will be generated on the 4th of May and the due date will be 29th of May. So, if you used your card on 14th of April, your grace period will 46 days and if you have used it on 2nd May, your grace period will be 23 days.

Is interest applicable on the cash withdrawals?

Yes, totally. Even if you have been given the opportunity to use your credit card for cash withdrawals, it is always advisable to do it in a case of an emergency. Because the cash advances through the credit card do not have any grace period and the interest will be charged from the moment you withdraw the money till the time you make the ‘full’ payment. Hence, if the outstanding balances are fully paid every month, there is no grace period for you.

Let us take an example that Bank A charges ₹350 as the late payments fees for the bills up to ₹10,000. Also, let us assume that there are no outstanding balances before 10 November and the credit card bill has to be repaid before 18th of every month. The interest rate applicable on the card is 2.65% per month and the late payment is ₹350.

So, here is your usage and the payment details:

  • On 10 November- Purchased a mobile phone worth ₹15000 through your card
  • On 15 November- Order something online for ₹5000
  • On 18 November- Statement gets generated
  • On 15 December- Made the payment of ₹2000 against your bill
  • On 16 December- Again bought something worth ₹1000
  • On 17 December- Paid ₹15000 against your bill

Noe, as you can see the payment was not on time, so the entire outstanding amount will add interest rate and a late payment penalty. Hence, the charges at 2.65 per month rate are calculated from the statement date as follows:

  • From 18 November to 15 December (28 days):

[(₹15000X 2.65X12X28)/365]/100= ₹365.91

  • From 15 December to 17 December (3 days):

[(₹15000X 2.65X12X3)/365]/100= ₹33.97

  • From 18 November to 17 December (30 days):

[(₹15000X 2.65X12X30)/365]/100= ₹130.68

  • From 17 December to 18 December (2 days):

[(₹15000X 2.65X12X2)/365]/100= ₹5.22

  • From 16 December to 18 December (3 days):

[(₹15000X 2.65X12X3)/365]/100= ₹2.61

So, the total payment from your side will include:

  1. the total interest= (365.91+ 33.97+130.68+5.22+2.61) = ₹538.39
  2. Late payment charges = ₹350
  3. Total principal amount outstanding = ₹4000 (₹1000 fresh spend + balance ₹3000 outstanding from last month’s billing period)

Hence, Total Amount Due = Sum of the above three payments= ₹4888.39 + service tax as applicable on interest and other charges. In addition to this, there will be some cash advances fee, over limit fees, annual fees and other charges also need to be paid.

Hence, with the help of the above example, it will surely be easy for you to understand how credit card calculator works and the importance of the timely full payments.

 

Unleash the Luxurious World of HDFC Credit Card Here

Have you ever imagined your life without credit cards? Did you know what these plastic cards can do for you? Well, if you are also the one who is looking answers of the questions above, you are at the right place. Here, we will not only describe you the features and benefits of these cards but will also give a briefing about HDFC credit card. Yes, you read that absolutely right! When it comes to credit cards, the wide range offered by this lender comes into the mind as each card offered by this lender is unique in itself. Be it travelling, dining, shopping, rewards or cashback, they come handy to meet your day-to-day needs. This is the reason that demand of owning a card is increasing day by day. So, here we are giving you a detailed information about a diverse range of credit cards offered by HDFC.

hdfc credit card

Go through this page below to discover a world of these beautifully and thoughtfully designed cards.

The bank offers you cards in different categories, so before you vouch for the same, just know which card actually suits your need the most. So, without wasting any time further, let’s just take you to a world of these appealing cards.

Featured: There are 4 cards that come to this category their names are-JetPrivilege World, Platinum Times, Titanium Times and Diners Club. The USP of these cards is the fact that they are best suited for travel, dining, and entertainment. In fact, they give you the welcome benefit of bonus JPMiles, discount vouchers, reward points and a list of other lifestyle privileges.

Super Premium: Infinia, Regalia, Diners Club Black and JetPrivilege Diners Club, these are the cards that come into this category. Limitless opportunities, indulgence in luxury, exclusive lifestyle benefits and unlimited rewards & privileges, you can expect a lot from these cards. Not only this, in fact, you can get a welcome benefit of bonus JPMiles along with complimentary airport lounge access.

Co-Brand: Next on the list are the co-brand cards such as JetPrivilege World, Maruti Suzuki NEXA AllMiles, Titanium Times and Snapdeal HDFC Bank. Well, as these cards are co-branded, thus give plenty of unlimited benefits on shopping, flying, dining and movies. You can also expect to get bonus JPMiles, reward points, and discount vouchers as a welcome gift.  

Professional: Doctor’s Superia and Teacher’s Platinum these are the cards that can be availed under this category. They are for professionals and come with plenty of exclusive features and benefits such as best lounge program, welcome benefit, reward points and fuel benefits exclusively for teachers.

Premium Travel: Well, as the name of the category itself suggests the cards unde this domain are thoughtfully designed for travelling purposes, perfect for the frequent fliers. Superia, AllMiles and Maruti Suzuki NEXA AllMiles are the best-known cards that can be availed by you with welcome benefits, rewards, complimentary membership and much more.  

Premium Women: Solitaire is the only exclusive card that you can vouch under this category. This beautiful card comes with enormous features and benefits such as reward points, shopping vouchers and what not. This card belongs to those who are looking nothing, but luxury and premium comforts in life.

Premium: Regalia First, Diners Club Premium, Diners Club Rewardz and Visa Signature are the four cards that you can avail the premium category. Complimentary lounge access, fuel surcharge waiver, unlimited gold lessons, plenty of reward points, concierge services and last but not the least travel vouchers are some benefits that you can enjoy once you own this card.  

Regular: Reward points, 50% more reward points on incremental spends, fuel surcharge waiver and many more, Platinum Plus card under this category fills your life with a lot of joy. This silver coloured VISA card is loaded with unlimited features and benefits, hence is ideal for those who want every sort of comfort in a single card.

Commercial: The commercial range of HDFC credit card includes Business MoneyBack, Business Regalia, Corporate Platinum and Corporate Card, all are decked with a plethora of features and benefits. They not only offer you reward points, airport lounge access, petrol surcharge waiver, but they also come with the lowest foreign currency mark-up fee, 24×7 online MIS availability, and discounts at leading five-star hotels.

Cashback: If we talk about the CashBack category, here you have 4 cards, by the name of Platinum Edge, Freedom, Money Back and Bharat. Each of these cards come with unique features and benefits, hence giving you a memorable experience.