A credit card is a plastic card commonly referred to as plastic money. Unlike debit card which is directly linked to your bank account, a credit card is not linked to an account. If you purchase any goods or services using a credit card then your credit card issuer pay for it to the vendor on your behalf and you pay it back to your credit card issuer at the end of your billing cycle. Different banks offer a wide range of ICICI credit cards catering to various customer needs like shopping. dining, travel etc. Points given below will help you in understanding, why you should use a credit card.
Benefits of Using a Credit Card
Welcome Bonus
Majority of credit card offers a great deal of joining bonuses to customers. If your credit score is good and you fulfill all the eligibility criteria laid down by credit card issuer, then you get varied kind of welcome bonuses like bonus reward points etc.
Reward Points
You earn reward points on all purchases made with credit card. These reward points can be redeemed at any partner stores. It’s better to analyse your spending pattern first and then select a card that fits well with your spending pattern. As using a card opposite to your spending pattern will be of no use to you, you won’t be able to redeem reward points in such a situation.
Cashback
On using credit cards for payments you get attractive cashbacks, which helps in reducing the costs of your purchases. So, using a credit card helps in saving on the costs.
Credit Score
Credit card helps in building your credit score if you pay all your credit card bill on time before the due date. On the contrary, non payment of credit card bill even after the due date or delayed payments affects your score negatively.
Interest-Free Period
Credit card offers you an interest-free period referred to as grace period. Credit card billing cycle is followed by a grace period, during which no interest is charged. So, using credit allows you to avail an interest-free credit for 48-50 days.
Alternative to Cash
Credit card is the best alternative to cash. You need no to carry cash everywhere as credit cards are accepted everywhere, within your country and outside your country as well.
Process to Apply for Credit Card Online
For online application, you can visit bank’s website or you can apply through online aggregators. Steps to apply for a credit card online through an aggregator are as below:
Step 1: Fill in the online application form containing your personal details (name, address and contact number) and occupation details.
Step 2: A credit card representative will contact you, he/she will explain you the application process, credit card details with benefits and the documents required for applying credit card.
Step 3: Credit card representative will fix an appointment (Date, Time and Place) as per your convenience with the bank.
Step 4: Bank’s executive will call up to verify your details and he will fix an appointment for documents pick-up at a time and place selected by you. You can reschedule appointment as well.
Step 5: Post documents pick-up, if your application is approved you will receive your credit card within 10-15 working days.
Keeping the benefits listed above in mind apply for a credit card. For easy and quick approval apply through different online aggregators.