Why Credit Card ?
Before applying for Best Credit Cards in India we must know few things. A credit Card is an digitally enable plastic currency, which is provided by authorized bank to the eligible customers. Few financial institutions like american express (AMEX), LIC India and others also issues credit cards to their Indian customers.
India You get a approval to have a credit card based upon your financial behaviours. It is very heavilly depends upon your cibil score. If you have sound financial profile and do have good habits like paying Bank Emi on time then it is much possible that bank will approach you to use their credit card with high credit limit.
Why We Need CreditCards ?
If you also also getting high salary every monthly.. Mostly govt employees and corporate sector private company’s employees gets easy approval.
Few banks also give you credit limit on your Fixed Deposits and Few Bank also give againts any Insurance policies. So It is up to you wether you need any credit card or not from these banks. One have seen many examples where any person get trapped by these bank and financial companies when you missed your payment on time.
Otherwise credit card are boon. You get atleast 40 to 45 days of time period to pay the actual amount to the bank from which you have made the payment to buy any service or any product. You may pay your monthlly bills, school fees, and can buy most of the online services.
Indian Banks Which Provide Credit Cards
|Credit Card Providers in India|
|Amex||CitiBank||IDBI Bank||Standard Charted Bank|
|Axis Bank||Dena Bank||Indusind Bank||Syndicate Bank|
|Bajaj Finserv||HDFC Bank||Kotak Mahindra||Union Bank of India|
|Bank of Baroda||HSBC Bank||Oriental Bank of Commerce||Vijaya Bank|
|Canera Bank||ICICI Bank||RBL Bank||Yes Bank|
Types of Credit Card
- Physical Credit Card
- Virtual Credit Cards
Physical Credit Cards in India : Such card are digital card same as debit card of the banks. Such Card Has 16 digit unique identification numbers in which first 4 digit belong to the bank or company and second pair or 4 digits reflects branch or area related information. Last 2 pairs are reserved for the customer identification.
After This Card has The name of the bearer and the Expiry Date and card Type Such As Visa Card or Master card.
On The Back side of such credit card The Details of CVV and the helpline numbers and general guidelines are printed.
Virtual Credit Cards In India : Few banks provides prepaid credit card which is called as virtual credit card The application from the bank such as HDFC payzap and icici’s Pocket Card. Such card also has all the details but it gives you details by which you can pay amount. But you have to load/ deposit the money in the card first. Bank will give you instant card number expiry month and year and cvv also.
By using these virtual credit card you can pay for many kinds of digital transactions.
Payment Network : These are kinds of payment gateways which not only support the digital transaction between business to business but also work in business to customers. It is kind of payment facility which is adopted by all banks. In india there is Rupay Payment Gateway introduced which works with Most of the nationalized banks such as SBI, PNB and small govt banks such Uco Bank.
Visa Credit-Card in India
Almost all credit card which are used for national as well as international transactions can be either visa or master card. Visa card are bit more popular in india and as well as in the world. You can see most of the cards will be having visa logo at one of the corner of the credit card.
Master CreditCard in India
Mastercards are also gaining fast popularity with visa cards both are running neck to neck. Many banks are also using master cards payment network in order to process digital transactions.
American Express Cards in India
You can see very few but rich networks are using American express credit cards. It gives you 4000/- to 5000/- Credit Value as a gift at the time of issuing credit card. Which can be spent as per your requirement.
Rupay Cards in India
The Indian Prime minister’s Vocal for Local may give strength to the Rupay Card to be launched as credit card payment gateway but as of now this gateways is providing payment services for debit card only.