What do Credit Cards offer?3 min read
While amid a shopping trip when one runs out of cash and cannot draw some money as well. The card which saves one is the credit card. It is an instrument that helps customers in making instant credit transactions. It is totally not like debit cards, which are linked to the bank accounts and debit only the corresponding amount for every transaction one makes. While credit cards offer the flexibility of making transactions on credit independent of the customer’s account balance. Although, these amounts are wholly repaid at the end of a pre-specified credit period. Every credit card has a credit limit allowance beyond which no transactions can be made.
How to Apply for a Credit Card?
To apply for a credit card, there are very easy steps. If one wants to
apply for a credit card:
- One can check the various kinds of credit cards online through any bank.
- Contact the bank, get in touch with the relationship manager.
- The next step is to physically visit the bank on the specified date to fill up the forms and for the necessary documentation.
However, one must fulfill certain conditions before opting for credit cards:
- The user should be a minimum of 18 years of age
- A permanent resident of India
- To attain any credit card, one must have a regular source of income.
- Upon the fulfillment of the above-stated things, if anyone wants a particular credit card type, he/she should fulfill the various protocols there, too, before getting hold of the specific card type.
There are various types of Credit cards designed keeping every kind of customer income in mind. Credit cards are usually utility and lifestyle supporting cards. There are always a few added benefits attached, which the customers may adhere to. There are primarily exclusive benefits on transactions for food, travel, e-commerce, etc. There are a few added benefits as well, depending on the card type. For example, Axis Bank Credit Cards allows its customers:
- Complimentary flight tickets
- Discounts on movie tickets
- Waives off a few fuel surcharges
- Gives access to airport lounges
- Discount on hotel bookings and restaurant orders
What is the Credit Card EMI Calculator?
Credit Card EMI calculator is the calculator which helps the user to plan the installments repayable on the transactions. It shows an apparent breakup of funds paid towards principal, interest, taxes, etc. With the usage of a credit calculator, the EMI’s of every month gets easy, as it gives the user a date via which the credit amount can be repayable.
With a credit calculator, one cannot suddenly miss any payment date. As it is very clear from the start, by this particular date, one has to pay this certain amount every month until the full repayment is made.
How to work with the Credit Card EMI Calculator?
The working of the credit card EMI calculator is effortless. The user should only add the amount of the transaction and the number of months one ought to pay. After giving out the minor details, click on Calculate, and then instantly, the screen would show the breakup of the amount repayable. The user can refer to the break-up of the payable EMIs in terms of principal, interest, and even the processing charges and browse through the entire plan of installments as and when required.