A credit card basically offers you credit, a charge for a period of time and allows you to pay for the product or service over a span of time. The range of credit days is from 20 to 50 days (which is calculated not from the day of purchase but from the day of billing) for which you don’t need to pay interest. You are having two options: either you can pay the bills in one go or you can pay it in form of instalments every month. Concept of charge card is quite similar to that of credit card but just a single difference is that you can’t carry over your balance like you can do with the credit card. In this you have to pay the dues within the credit period. You can consider debit card as your ATM Card on move. In this you can utilise your bank balance for making payments. After making the purchase using Debit card that much amount is automatically deducted from your bank account instantaneously.

There are three kinds of cards available in India: Master card, Visa and Amex. You can issue these credit cards in Bangalore from the participating banks such as ICICI and Citibank. Master card and Visa are having equal shares in market and is quite popular in India. But Amex is new-comer in India and another thing is that this card can only be subscribed through the American Express Bank.

These are the terms used by the credit card providers to differentiate the credit card services provided on each of them. For instance, Gold card offers you premium segment that comes with better features like more discounts, higher insurance cover, more facilities and privileges. Each of the cards is having their own associated esteem and prestige. You can’t get them in cheap as they come up with highest fees and service charges.

For this purpose, firstly you have to contact a credit cards provider in Banglore. Collect the application form, fill it providing relevant details and submit it after attaching the documents required. The bank will send you the Credit Card in Bangalore by mail after going through a short credit appraisal.

While applying for a credit card, a minimum income level requirement is the preliminary point that every credit card provider consider first. Different banks are having different income requirement ranging from 60,000 to Rs. 2 lakhs per annum. It also depends on the card you are willing to issue and the profile risk you are ready to take. It will be very fruitful for you if you are having a steady source of income. As it offers assurance to the credit card providers that you will be able to pay for the expense after using credit card. The minimum age limit is 21 years and maximum 65 years.

It depends upon the type of card you are willing to issue. For ordinary card, the salary range lies between at least Rs. 70 to 75,000 annually. But for Gold card, it should be upto Rs. 1 Lac 80,000 annually.

The basic cost that you have to pay for issuing a credit card services includes the joining fees which depends on the bank and type of card you have chosen for yourself. Joining charges ranges between Rs. 100 to Rs. 1000. To continue your membership on the card, you also have to pay an annual charge that too in advance which is around Rs. 400 to Rs. 2000. The best thing about credit cards is that you need not to pay the annual bills in cash but the credit card providers will bill it along with the first monthly billing statement and the same process applies for every next year.

Well, it depends on how you are taking the things. With credit card you can delay in making payments upto 50 years. Another beneficial thing is that most of the card credit offers is the handsome discount on the annual charges to the clients who are making the purchase of certain amount on the card.

It’s always advisable to pay atleast the minimum amount that is due on out-standing each month. If you are making the payments after the ‘ interest free period’ then the fees applied on it which is around 2.5% of the total out-standing balance or the 15% of the minimum payment.

The Add on cards is issued for the dependents of the credit card owner; it may be your parents, spouse or children. To get this additional card you have to pay fees which lies between Rs. 125 to Rs. 1,000. The best thing is that the supplement credit card offers you the same limit which is applied on the main card. As the credit card providers can’t offer additional limit therefore the major drawback is that the limit is divided between the major card and the supplement card. The expenses made on this card will be billed to you. You will get a comprehensive bill which will contain the bills of both the card on the statement date.

Global card offers you the golden opportunity to make use of the credit card services even when you are travelling overseas. Global cards are acceptable in around 200 countries. It will also work as your ATM card. If you are having a Global card then you need not to carry any cash or traveller’s cheque. You don’t even need to rush to the currency exchange services and later you can easily settle down the payments in your local currency. Basic Travel Quota entitlement will be considered for provide you the credit limit. If you are frequently travelling to other countries then it is better to go with the global credit card.

PIN is the abbreviation for Personal Identification Number which is a sequence or combination of number and is unique for every card. It usually contains 16 digits in which first 8 digits are reserving information about the card holder and the nation. Other customer information including the type of membership and other details are stored in rest 8 digits. The PIN will be useful in availing different credit card services like if you want to withdraw cash from ATM. Therefore it’s crucial to store your PIN safely.

Inform the bank as soon as possible in case your credit card PIN is lost. The credit card providers will immediately replace your card and will issue you a new PIN. You have to pay for this replacement which will be billed in the next statement.

Late payment fees are applicable in case you are not able to pay the out-standing of your credit card within the predetermined interest free period. The interest rates are high which is nearly around 2.5% of the total outstanding balance and 15% of the minimum payment due. Therefore it’s advisable to pay off the minimum amount dues every month.

The basic concept behind Credit Card rewards points is to promote the regular usage of card by the members. The company rewards you with the point for the amount spent by you for availing different product and services. Later you can surely redeem these reward points for paying the annual fees or for selecting product purchase.

Credit cards offer you insurance as a standard attribute that works for both the card holder and the articles that are purchases using the credit card. It strictly depends on the type of card you are using. For instance, Gold offers your highest insurance cover. Various other insurance provided by your company are Personal accident insurance which covers both road and air accidents. Again the amount of cover is dependent on the policy of credit card provider and category chosen by you. Baggage cover is provided against the loss of baggage while travelling. This special feature is applicable on the International Credit Cards and Gold cards for the people who are frequently travelling to other places. Air accident insurance insures a certain amount to the card holder in case they die in any accident while travelling by air.

Insurance of certain amount is provided to every Credit Card holder which is paid after the demise of that individual. Different banks and different cards come up with different life insurance policies. The amount against the insurance cover is dependent on the category of the card you have chosen for yourself.