Most popular credit cards
HDFC Bank Millennia Credit Card
Joining Fee: ₹1,000 + GST
Renewal Fee: ₹1,000 + GST
Reward Type: Cashback
IDFC FIRST Wealth Credit Card
Joining Fee: No joining fee
Renewal Fee: No renewal fee
Reward Type: Reward Points
SBI Cashback Credit Card
Joining Fee: ₹999 + GST
Renewal Fee: ₹999 + GST
Reward Type: Cashback
Credit card categories
FAQ
What Is A Credit Card?
A credit card is a financial instrument that has a pre-loaded balance that the cardholder can use to make transactions and pay for them later. The card issuer will let you pay off the balance fully, interest-free, for up to 50 days from the date of payment. To avoid any fines, the cardholder can pay the minimum amount due (which can be anywhere between 5% to 10% on the total amount owed). The balance, however, will be carried forward to the next month, and interest set by the credit card company will be levied.
Why Get A Credit Card?
Let's start from the beginning: Why should you get your first credit card, let alone a bunch of credit cards? Credit cards sometimes get a bad rap, but they are a tool you can use to build credit, earn cash back, earn travel rewards, or get access to other really cool perks. The key is using credit cards responsibly.
How does a Credit Card work?
A credit card allows delayed payment for purchases, essentially borrowing from the issuer until the month's end. Know that credit card eligibility depends on a stable income and a good credit score, and it can also be secured against a fixed deposit. Your credit limit, 3 to 5 times your monthly salary, varies by bank. While popular banks provide the card, payment gateways like Visa, MasterCard, and RuPay handle transactions, leaving terms like minimum due, interest, and rewards to the issuer's discretion.