According to the recent update by Reserve Bank of India, there are approximately 30 million active credit cards in India. Demonetisation may have added on to these already rising numbers. Moreover, various companies are now introducing a range of credit card offers to benefit the users further.
Not just offers but advantages of credit cards are also diverse. Some of the known benefits of these financial tools are easy access to funds, smooth transactions, universal acceptance, etc. But, you can also enjoy a few lesser-known advantages.
The CIBIL score is a scale ranging from 300 to 900 which signifies your creditworthiness and financial stability. A healthy score of 750+ makes you more eligible for financial products or services in the future.
If you want to improve your CIBIL score with your credit card, ensure to make your monthly bill payments within the due date. Defaulting on a bill payment or paying only the minimum amount can decrease your score. Also, always try to keep your credit utilization ratio within 50%.
Most financial companies provide with welcome bonuses as their credit card offers. Lenders like Bajaj Finserv come with 20,000 reward points as joining gift. You can redeem these points for exciting discounts, coupons, and offers to make your future purchases more affordable.
You can use the on your international trips as well without worrying about foreign exchanges. So, book your flight and accommodation, shop souvenirs, etc. and finance miscellaneous expenses during the trip. There are no conversion charges applicable in this case.
Credit cards from leading NBFCs like Bajaj Finserv allow interest-free ATM cash withdrawals for up to 50 days with a processing fee of 2.5%.
One of the most profitable advantages of credit cards is the rewards points it offers. Cardholders can redeem these points for:
A growing number of people prefer credit cards because of the simple and straightforward eligibility criteria. The requirements are basic and simple to adhere to – stable employment history, age limit ranging from 25 to 65 years of age and a CIBIL score of 750 or above.
If you wish to apply for one soon, approach a reputed financial institution which brings the credit card offers as per your requirements.
Bajaj Finserv brings pre-approved offers which make the process of availing finances simpler and helps save the customer’s time. Pre-approved offers are also valid on credit cards and several other financial products and services. Check your pre-approved offer by providing a few essential details like name, phone number, etc.
With proper utilization, credit cards can be one of the most beneficial tools for you. Pay your credit card bills on time and make sure not to pay just the minimum amount. Maintain this routine and avail a higher credit limit other than leading benefits.