Compare and Apply
for the Best Credit Cards
Credit cards are convenient financial instruments provided by the banks to the customers using which they purchase things without cash.
Best Credit Cards in India 2023
Amazon Pay ICICI Bank Credit Card
Joining Fee
Nil
Annual Fee
Nil
paytm HDFC Credit
Card
Joining Fee
Rs. 49 + GST per month
Annual Fee
Rs. 49 + GST per month
Flipkart Axis Bank Credit
Card
Joining Fee
Rs. 500 + applicable taxes
Annual Fee
Rs. 500 + applicable taxes
IndusInd Bank Platinum Aura Edge Credit Card
Joining Fee
Rs.500
Annual Fee
Rs.500
What is a Credit Card?
Credit cards are convenient financial instruments provided by the banks to the customers using which the customers can make purchases without cash.
Every credit card comes with a pre-decided credit limit up to which you can spend. You have to repay the amount spent in a billing period – usually a month – on the due date. You can also pay a minimum portion of the bill and roll over the remainder as credit, for which the bank will charge you interest.
Credit cards can be used for making both offline and online transactions. They also give you benefits like reward points, cash-back offers and many more.
With a credit card, you can make purchases even if your bank balance is zero. Of course, you have to pay it back by the due date to avoid a penalty.
Features and Benefits of Credit Cards
- Insurance: Some cards come with protection plans and insurance plans such as car insurance, travel insurance and many more.
- Add-on cards: Many banks provide add-on credit cards to the cardholder’s family members based on the primary cardholder’s credit history.
- Airport lounge service: There are some credit cards that offer the cardholder complimentary airport lounge access, and the benefits vary from bank to bank.
- Balance transfer: The card balance can be transferred from the card of the existing bank to the card of another bank.
- International usage: Many credit cards can be used globally and are accepted by merchants all across the globe.
- Payment Options: Most credit cards will allow you to make payments via multiple channels.
- Credit score: Having a credit card improves the credit score of the holder. Paying credit card dues on time also improves your credit score. Using credit cards over long periods and making timely payments create a good credit history.
- No fee on transactions: Unlike a debit card, credit cards do not charge a fee on transactions. The cards may have some annual charges, but at the same time, the banks offer rewards that could neutralize the effect of such charges.
- Protection against theft: When the card is lost or stolen, it is immediately blocked upon intimation to the bank or the credit card company. This instant action is taken to prevent any losses.
- Rewards: All Credit cards generally have a reward system such as vouchers, fuel redemption, discounts and reward points.
- Easy transactions: The cards can be used to make payment both online and offline. With a credit card in hand, an individual can forget about cash dealings.
Credit Card Eligibility
| Eligibility Criteria | Requirement |
|---|---|
| Nationality | Indian |
| Age | 18 years |
| Employment status | Salaried or Self-employed |
| Income | Depends on one bank to the other |
| Credit Score | Good credit score (700 and above) |
Documents Required to Apply for a Credit Card
| Requirements | Salaried Individuals | Self Employed |
|---|---|---|
| ID Proof | Passport, Permanent Account Number (PAN) card, Aadhaar card, Voter’s ID | Passport, PAN card, Aadhaar card, Voter’s ID |
| Residential Proof | Aadhaar Card, Electricity Bill, Telephone bill | Aadhaar Card, Electricity Bill, Telephone bill |
| Income Proof | Salary Certificate, Recent Salary slips, Employment Offer Letter | Certified Financials, Recent Income Tax Returns (ITR) Statement, Passport |
Why should you have a credit card?
- Easy to make big purchases and an option to convert the purchase into EMIs
- Interest-free credit period up to 45 days
- All transactions are safe and secure as there is a need for OTP and Pin every time
- Builds up the user’s credit score
- Rewards in the form of cash-back, discounts, fuel vouchers and other benefits
- Acts as a backup during financial emergencies
Credit card charges
Foreign currency charges
Cash withdrawal charges
Late payment charges
Duplicate statement fee
Over limit fee
ECS / Cheque return charges
How to apply for credit cards at Fincover?
- Log onto “Fincover.com”
- Select “Credit Cards” and Click Apply now
- Enter the required information
- Upon providing the information, you can see credit card options from multiple banks
- Compare, analyse and apply for the best card that suits your requirements.
- Submit the necessary documents, and the application will be forwarded to the bank concerned. A representative from the bank will call you soon for documentation.
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