Credit Card

There are many types of credit cards, and you can choose a category based on your spending needs and habits. Here is an overview:

Lifetime-free Credit Card

You won’t be charged a joining fee or annual maintenance charges for such a credit card. This way, you can enjoy all the card’s benefits while keeping your costs down. This option is the best for you if you are cost-conscious and use credit sparingly or for emergencies.

Cashback Credit Card

Get a certain percentage of money back on specified purchases with this card. Boost your savings with ease when you pay for utilities, shop online, buy groceries, and more. This card is best for you if you are a mindful saver and use your credit card for daily purchases and expenses. 

Travel Credit Card 

Enjoy special deals on flights, train tickets, and hotels from leading travel providers with such a card. You can also redeem points for airmiles and get room upgrades. If you tend to travel significantly for work or leisure, this credit card is made for you.

Rewards Credit Card

Unlock reward points for a range of purchases and redeem them for air miles, products, and discounts with this card. Certain purchase categories allow you to earn more points, so check them to see if they suit your spending habits. Such a card comes with a favourable rewards program and makes redeeming points easy. It also offers you a huge selection of merchandise and services. If you aim to use your card for most of your expenses every month, such a card can add value to your life. 

Airline Credit Card

Usually launched as a co-branded card by travel companies or airlines, this card offers discounts to frequent flyers. With it, you can get access to free air tickets, discounts on flights, and other travel privileges. Complimentary airport lounge access, bonus air miles, and upgrade vouchers are other benefits you can expect. These cards are ideal if you often travel through domestic or international flights.

Shopping/Lifestyle Credit Card

Get access to money-saving deals on purchases online and offline and upgrade your lifestyle with this card. You can enjoy discounts on purchases across clothing, electronics, home appliances, and dining. It offers an EMI conversion facility so you can pay shopping bills in easy instalments. This card is best for you to enhance your daily life and make big-ticket purchases with ease. 

Entertainment Credit Card 

Enjoy deals on events and concerts with this card. Such a card offers ‘buy one, get one free’ offers as well as discounts on shows, be it a stand-up comedy, live band performances, theatre, or movies. It also allows you to save on dining, earn points, and get other perks. This card is best for you if you enjoy recreational activities. 

Credit Card with Dining Offers

Cards with dining offers come with a range of discounts from restaurants as well as complimentary memberships to dining programmes. Use it when you eat out or order in and get accelerated reward points. If you like to explore different cuisines and frequently celebrate with meals out, this card is meant for you. 

Fuel Credit Card

Get free fuel, waivers on surcharge and complimentary roadside emergency services with this card. These are usually co-branded cards launched by a petroleum company along with a bank/issuer. They may also offer accelerated points on fuel purchases and give you cashback. If road trips and driving are a part of your routine, this type of card is ideal for you. 

Secured Credit Card

This credit card doesn’t require you to have a credit score. You can qualify for it with ease by booking a fixed deposit with the issuing bank. It usually doesn’t have high fees and charges. While it does offer you a range of rewards, they may not be as extensive as a regular card. If you are new to credit and have zero credit history or have a low score, this card is ideal for you. It can help you build your credit profile and qualify for a regular card in time. 

Credit Card that Can be Linked to UPI 

With a RuPay credit card, you can pay all your bills from a UPI app on your mobile and earn points and rewards. Currently, such cards are the only ones that you can link to your UPI ID. Get this card if you are someone who pays using the mobile and does not prefer carrying a wallet. 

Co-branded Credit Card

This card is launched by a company in association with a bank and offers special deals on purchases related to its brand/s. Such a card offers you more savings and deals from brands in e-commerce, retail, travel, or other domains. Choose this card based on your shopping habits, as it can help you boost your purchasing power.  

Premium Credit Card

Premium cards are usually offered to you when you meet the card company’s high income specifications. It offers memberships to airline or hotel programs, luxury rewards, and concierge services. This card is ideal if you plan to spend at least ₹10-12 Lakhs a year with it. It comes with higher joining and annual fees. However, in some cases, annual charges are waived off when you cross the minimum spending threshold. 

Business Credit Card

As a business owner, you can earn cashback on business purchases and simplify cash flow management with this card. It usually offers deals on transactions related to utilities, travel, rent, online purchases, and more. As an entrepreneur, this card makes it easier for you to address recurring expenses. It also offers you premium benefits like priority access at airports and convenient terms for ATM cash withdrawals. 

Corporate Credit Card

As an employee of a corporate company, you get this card to address business travel, client-related and other official expenses. It is usually linked to a mobile app or accounting system to share your transactions with your company in real time. It may come with certain restrictions or limits on transactions or amounts based on the policies of your employer

Credit Card Eligibility Criteria

The eligibility criteria may differ depending on the issuer’s policy and the type of credit card you wish to apply for. However, the basic credit card eligibility requirements can be summed up as follows:

• Age: The minimum age for applying is 18 years

• Nationality: You must either be a resident of India or a non-resident Indian (NRI)

• Income: The minimum requirement differs from one issuer to another

• Employment: Self-employed or salaried 

• Credit Score: A credit score of 700 or above is considered ideal

Documents Required For Credit Card

While applying for a credit card online, you will need to share a few documents as under:

• Proof of Identity (any one):

  1. Passport

  2. Aadhaar card

  3. PAN card

• Proof of Address (any one):

  1. Utility bill (electricity, water, phone)

  2. Ration card

• Income Proof:

  1. Salaried: Latest salary slips (past 2-3 months), Form 16

  2. Self-employed: Income Tax Returns (ITR) with computation of income, bank statements showing income

Disclaimer: Please note that the eligibility criteria and documents stated above can vary from one issuer to another. Please understand these terms and conditions before applying for a credit card.

Regardless of the type of credit cards you apply for, you will come across a few credit card charges that will apply based on your transactions. Get a glimpse of some common charges in this table:

Fee Type	Details	General Range
Joining Fee	This is a one-time fee to be paid during application in order to own the card	Varies between issuers and can go up to ₹1 Lakh
Annual Maintenance Fee	Annual fee to be paid to enjoy the privileges of the credit card	Can go up to ₹60,000
Interest Charges	Prefixed rate applicable if you do not pay the credit card bill in full by the due date	Can go over 50% per annum
Rewards Redemption Fee	Processing fee charged when you use your accumulated reward points to enjoy benefits like gift cards, air miles, or merchandise shopping	Typically range from ₹99 to ₹150  NIL in some cases
Foreign Transaction Fee	Additional foreign credit card charges when you swipe your credit card in a foreign country	Usually 1.50% to 3.50% of the transaction amount
Late Payment Fee	Applicable when you miss paying even the minimum amount due as per the credit card statement	₹5 to ₹1,300 based on the overdue balance; may also be charged as a percentage of the balance due
Cash Advance Fee	Applies to the amount you withdraw as cash from an ATM	Up to 3.5% on the amount withdrawn
Over Limit charges	Applies to the amount you spend over the limit of your credit card	Up to 4%
Fuel Surcharge	Fee that applies to using a credit card to pay for fuel	Up to 2%-2.5%
Goods & Services Tax (GST)	Applicable on interest fees, late payment fees, forex charges, annual and joining fees, and more	18%

Disclaimer: These are some of the general fees applicable to credit cards. Check the charges and rates of the specific card you plan to get.

The enhanced security protocols on Bajaj Markets help keep your data safe when you apply for a credit card online. The easy option to compare cards also aids in selecting the ideal card for yourself. Applying digitally is simple, and all you need to do is:

1. Click on ‘Check Eligibility’ 

2. Fill in the required details, including your phone number, date of birth, and occupation 

3. Enter the One-Time Password (OTP) sent to your phone

4. Check the pre-filled details like your PAN Card number, address, email ID, and income information

5. Choose a credit card from the available options

6. Click "Submit" to complete your application
   

Note: The application process may vary slightly in case of certain cards.

A credit card is a tool you can use to improve your financial well-being. In order to get the most out of it, know some important terms associated with it. 

Billing Cycle

This is the monthly period during which all your credit cards transactions are tracked. It is usually between 28 to 31 days. When it comes to an end, you will receive a statement summarising your purchases, EMI instalments, if any, fees, and total payment due.

While the billing cycleis fixed by your issuer, you have a one-time chance to change your billing cycle to something that works for you. You may want the date to coincide with the time you receive your salary in order to pay your bill stress-free. 

Interest Rate

You will be charged a certain rate of interest on credit card on the unpaid balance. This is only when you do not clear your bill in full by the due date. It is calculated as an Annual Percentage Rate (APR) and is charged per day. 

Avoiding it helps you maintain healthy finances as credit card APR is quite high compared to other financial services. 

Grace Period 

This is the interest-free window when you won’t be charged any interest on your balance. Pay the entire due amount before the grace period ends to avoid interest. This period usually ranges between 18 to 55 days, depending on your credit card. 

Minimum Due

This is the least amount you need to pay by the due date to avoid late payment charges. It is usually 5% of the entire balance due. Remember, the overdue amount attracts interest even if you pay this amount.

Late Payment Charges

If you don’t pay at least the minimum amount due by the specified date, you will have to incur a late payment fee. This may be a flat fee or a percentage of your outstanding balance. It is best to avoid late charges and strain your finances needlessly. 

Rewards Expiration and Redemption

Most credit cards have reward programs based on which you can earn points and get access to perks. To maximise your benefits, check if and when the points you get expire and how to redeem them. Evergreen points and easy redemption help you enjoy the points effortlessly. 

Credit Limit Calculation

Your credit limit is the maximum amount you can spend using your credit cards. Banks consider your income, credit score, and other factors when determining your credit limit. To maintain financial health, try not to max out your credit card each month.

Credit cards have evolved over time, and the number of cards issued by Indian banks has crossed a significant milestone. They are extremely versatile to use and offer better safety too. 

You can increase your purchasing power and build a good credit history using credit cards. Here are some benefits you can enjoy: 

Earn Reward Points

Accumulate points on specified purchases and redeem them for shopping vouchers, air miles, cashback, and more

Get Complimentary Membership to Dining/Travel Programs

Co-branded and premium cards allow you to become a member of a loyalty program to enjoy more privileges 

Get Exclusive Discounts

From electronics to movie tickets, get offers on a range of products and services from partner retailers 

Pay Bills in EMIs

Split big-ticket bills and pay comfortably in instalments (with or without additional charges) 

Travel Hassle-free

Complimentary lounge access, low forex rates, air miles, and more help you maximise savings

Save as You Spend

Cashback and reward points give you more value for most transactions 

Emergency Cash Withdrawal

Get money from an ATM based on your card’s limit to address urgent needs, but keep in mind that applicable interest will be charged 

Instant Use through Virtual Cards

Once you get Instant approval for a card, you can immediately start using its virtual variant online 

Pay with UPI

With RuPay credit cards, pay easily by linking your card with UPI 

Spend Securely

Enjoy safety with CVV, PIN, EVM chip and contactless payment features 

Use Globally

Enjoy the flexibility to make payments inside and outside India with equal ease

Save with Waiver on Fuel Surcharge

Meet specific conditions and avoid a percentage of the additional charge on credit card payments at fuel pumps

Get a Loan Basis Credit Card Limit

Address emergencies with an unsecured loan via your card, but keep in mind that applicable interest will be charged

Get Insurance Covers

Protect yourself from fraud with zero liability cover and other covers related to travel, accidents, and more

Credit cards and credit scores have an interdependent relationship. Here's how they impact each other.

• Responsible Credit Cards Usage Can Boost Credit Score

You can prove your creditworthiness by using your credit card responsibly and making on-time payments in full every month. Maintaining healthy credit use is important since consistent late payments can impact your score.

By using a credit card with care, you can build your credit score, which will help you get quick and affordable access to credit in the future.

• Poor Credit Score Can Hold You Back From Getting a Credit Card

It will be much more difficult to acquire a credit card if you have a low credit score. This may be due to the fact that you do not have any credit history or have missed EMIs and defaulted on a loan in the past. 

Since banks check how creditworthy you are before approving your application, this can lead to rejections. You can opt for a secured credit card in this case and use it smartly to improve your score over time.

Whether you use a credit card for cashback on everyday spends or for an additional credit at hand, Bajaj Markets could help you find a credit card.

Here’s why you should apply for a credit card online through our website:

Access to multiple options

With over 30 cards categorised for every need, you can apply for the one that the helps you manage your finances better

Large network of financial institutions

You can get a credit card from any of the bundle of leading credit card issuers tied up with Bajaj Markets

Quick online process

An hassle-free online journey lets you apply easily, at your convenience, without having to visit any issuer physically

Not monitoring usage or spending recklessly can strain your finances, leading to credit card debt. Here are a few things you can do to ensure that your card does not end up being a liability:

• Instead of using your full credit limit, try to spend only up to 40% 

• Increase your credit limit when you can to boost your purchasing power

• Pay your balance in full each month by the due date 

• Apply for a new credit card only when necessary

• Monitor your credit card statement regularly to be in the know

• Time your purchases at the beginning of your billing cycle to get more time to repay

• Check the spending threshold to get an annual fee waiver when possible

• Remember, the more premium the card, the higher the annual fees will be, so choose accordingly

Explore and compare 30+ instant approval credit cards available for you and pick as per your needs:

Credit Cards	Joining Fee (Excluding GST)	Annual/Renewal Fee (Excluding GST)	Key Features
SimplySAVE SBI Card	₹499	₹499	Earn 10x rewards on every ₹150 spent on lifestyle Welcome benefit of 2,000 reward points
IRCTC RuPay SBI Card	₹500	₹300	Complimentary railway lounge access Get up to 10% Value Back on railway bookings
SBI Card ELITE	₹4999	₹4999	Welcome gift voucher worth ₹5,000 Access to 1000+ international airport lounges
SimplyCLICK SBI Card	₹500	₹500	Joining benefit of Amazon gift voucher worth ₹500 Convert purchases worth ₹2,500 and above into easy EMIs
SBI Card PRIME	₹2999	₹2999	Welcome gift vouchers worth ₹3,000 from lifestyle brands Complimentary domestic and international airport lounge access
Lifestyle Home Centre SBI Card	₹499	₹499	Welcome bonus of 2,000 reward points Get accelerated reward points on spends at partner stores
Max SBI Card SELECT	₹1499	₹1499	Welcome benefit of 6,000 reward points worth ₹1,500 Milestone reward points worth up to ₹8,600
Central SBI Select Credit Card	₹750	₹750	Get welcome gift vouchers worth ₹750 Accelerated reward points on purchases made at Central stores
FBB SBI STYLEUP Card	₹499	₹499	Get 10x reward points on purchases made at Big Bazaar, FBB, and Food Bazaar outlets Convert spends worth ₹2,500 and above into easy EMIs
BPCL SBI Card OCTANE	₹1499	₹1499	Get more out of fuel spends Get a welcome bonus of 6,000 reward points worth ₹1,500
BPCL SBI Card	₹499	₹499	Complete fuel freedom with 4.25% cashback on fuel spends Enjoy simple debt consolidation with balance transfer facility
SBI Card PULSE	₹1,499	₹1,499	Free healthcare membership for a year Spends over ₹2,500 can be converted into EMIs
Axis Bank MY ZONE Credit Card	₹500	₹500	Beginner-friendly credit card Complimentary SonyLIV Premium annual subscription
Axis Bank NEO Credit Card	₹250	₹250	Get up to 40% off on Zomato Convert big purchases into manageable EMIs
Indianoil Axis Bank Credit Card	₹500	₹500	100% cashback on fuel transactions as joining benefit Accelerated reward points on fuel transactions
Axis Bank SELECT Credit Card	₹3000	₹3000	Tee off in style with 6 complimentary golf rounds Dedicated concierge desk
IndusInd Bank Legend Credit Card	Nil	Nil	‘B1G1’ on movie tickets booked through BookMyShow World-class concierge service
IndusInd Bank Platinum Master Credit Card	Nil	Nil	Luxury gift cards from global brands Complimentary golf lessons from experts
IndusInd Bank Platinum Aura Edge Credit Card	Nil	Nil	Exclusive access to 600+ international airport lounges Luxury concierge benefits
AU Small Finance Bank Vetta Credit Card	₹2,999	₹2,999	Up to 4 complimentary airport lounge visits 1000 bonus reward points as a birthday gift
AU Small Finance Bank LIT Credit Card	Nil	Nil	Up to 4 complimentary lounge visits every 90 days Customisable credit card
Rupicard	Nil	Nil	Low interest rate of just 2.5% per month Easy ATM cash withdrawal
ICICI Bank Coral Credit Card	₹500	₹500	Enjoy ‘Buy 1 and Get 1 Free’ offers at INOX Cinema Complimentary airport and railway lounge access
ICICI Bank Expressions Credit Card	₹499	₹499	Get up to 20% discounts at partner restaurants Complimentary airport lounge access
ICICI Bank HPCL Credit Card	₹500	₹500	Redeem reward points against outstanding credit card balance 1% fuel surcharge waiver of up to ₹4,000 at HPCL pumps
MakeMyTrip ICICI Bank Platinum Credit Card	₹500	Nil	Activation gifts worth ₹3,500 from MakeMyTrip Complimentary lounge access
MakeMyTrip ICICI Bank Signature Credit Card	₹2500	Nil	Exclusive deals on MakeMyTrip Complimentary airport lounge access
ICICI Bank Manchester United Platinum Credit Card	₹499	₹499	Get a complimentary branded football from Manchester United Up to 15% off on dining at partner restaurant
ICICI Bank Manchester United Signature Credit Card	₹2499	₹2499	Exclusive Manchester United experiences Complimentary airport lounge access
ICICI Bank Platinum Visa Credit Card	Nil	Nil	Exclusive dining discounts Fuel surcharge waivers