Types Of Credit Cards In India
Credit card have become a significant part of our lives, due to digitalization and modern ways of payments, it had made our work much easier. There are various Types Of Credit Cards In India through which you can make purchase or sale of goods and services. Most of the people select to make payment of full credit amount that have been rented from the issuer of credit card.
Well, this plastic money has been providing us so many benefits. Earlier, the credit card corporations used to offer cash security along with multiple benefits and features. The most interesting and significant advantage is quick access of cash for 24 hrs. However, on comparing various types of credit cards features/ benefits, we have noted that they each comprises of some unique and reliable features.
With each credit card having distinguishes interest rates, fees structure and rewarding schemes, it make more simpler to know which credit card is suitable option that perfectly suits the status and life style of an individual. Let’s get to know some of the popularized and prominent kinds of credit cards that are offered by the organizations and banking firms.
Types Of Credit Cards In India
- Gold Credit Card
These are the best and highly preferred from of credit card which are especially suited for the people falling under high income level category. If the person is having good incomes that it automatically means that he/ she are also having a good credit rating. Gold credit card signifies the high status and prestige of an individual. Moreover, it offers multiple benefits like reward points, offers and discounts on cash aback, travel insurance, withdrawal limit is extreme, the consumer will also get the one supplementary add-on card which is basically given to one of his family member.
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- Titanium Credit Cards
Titanium or premium credit card is another which is consisting of unlimited advantages. Its main feature is the offering of reward program to its customers. The premium rewards program comprises of liberation for air miles, cash back offers, rewards points and many more. Well, this card is known for its some specialized advantages including revolving credit, reversals of annual fee, insurance, add-on facility, beauty offers, apparels discounts, offers on top brands, vouchers, etc.
- Platinum Credit Cards
This type of credit card is possessed by lot of people due to its major benefits. The regeneration and annual fee is much higher as compare to any other form of card. Each card comes along with special privileges including retail brands gift vouchers, accelerated reward points, VIP pass, global lifestyle, replacement services on emergency cards, entertainment offers, shopping discounts, speedy withdrawal of cash, staying facility in good airport lounges and many more.
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- Silver Credit Card
A highly owned standard form of credit card which are especially possessed by the people who have been employed in job and having more than 4 years of expertise . This kind of card consist of some exciting features like lesser fee of membership, the rate of interest is nil between 6 months – 9 months during the transfer of amount from one credit Card provider to other. But the essential thing is that to own this type of cards, one should be having good salary.
- Rewards Credit Cards
As the name of this from suggests, same these types of credit Cards are well known for providing various rewards on each transactions take place. The consumer can earn various points on their online or retail transactions. There is also renewal bonus, birthday gifts rewards offerd to cardholders. There is reclaims of rewards points for various items that are listed in the catalogue of rewards benefits. Some of its benefits like offers on travelling, cash back offers etc.
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- Business/Corporate Credit Cards
Next form is business credit cards which are mainly provided to the corporate establishment, institutions’ and business firms. In this, the employers are free to offer this card to their workers. However, one cannot use these form of cards fro their personal usage or transactions. Please note, that they are only valid upto the employment period. You can get various benefits by purchasing the corporate credit Card that is related to the organizations.
- Cashback Credit Cards
Next on the list is cash back credit card which simply indicates that it provides cash back to the cardholders on each transaction done. Well, the cash back limit depends upon the spending capacity, it may range between 5- 20 %. However, some of its benefits include cash back offers on booking of movie tickets, dinning bills, retail purchases, shopping benefits, reversal of annual fee, balance transfer etc.
So, that’s all about type of credit cards in India, one can read the details and its benefits and choose a suitable card fro own selves as per your preferences. stay tuned with our web portal for more interesting facts.
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