Credit card – The new-age digital payment tool
Credit cards have become an inseparable part of our lives, as they are user-friendly financial tools providing hassle-free payback options. The joining bonuses, interest-free transactions, cashback offers and incredible festival bonanza offers make credit cards the most preferred financial product in today’s age of digital transformation.
The overall credit card circulation in India has outstretched to over 64 million in 2021 in comparison to 57.3 million last year. When we talk about the best credit cards, the Bajaj Finserv RBL Bank SuperCard has no comparison. With its numerous power-packed features, it is a unique credit card that can accommodate and fulfil all your credit requirements.
The Bajaj Finserv RBL Bank credit card is more powerful and multifaceted than just a simple credit card. As suggested by the experts, it’s a SuperCard laden with powerful features that not only cater to customers’ day-to-day cash and transaction needs but also act as a trustworthy financial supporter in case of a financial crisis.
This credit card in real terms has the power of 4 cards (vis. credit card, loan card, cash card, and EMI card) packed into a single card. Leading the list of the best credit cards available today, the Bajaj Finserv co-brand credit card comes along with numerous industry-first features that make it stand out when compared to the other credit cards.
If you are thinking, ‘how to get a credit card’, start by reading these five crucial advantages that the best-in-class credit cards offer their customers.
5 major advantages of the best credit cards
1) Easy credit access
The major advantage of a credit card is that it provides the cardholder with easy access to credit services. Credit cards work on an overdue payment system, which means you can complete the transaction or payment using your credit card now (your bank or the card provider pays the same amount to the third party on your behalf), and afterward, you have to pay back the due amount within a particular interest-free period (credit period). In this manner, credit cards fulfilll the role of credit facilitator in times of credit requirement or financial crisis. Credit cards also ease international transactions, as debit cards sometimes face issues in carrying out such transactions.
2) EMI accommodations
The biggest advantage credit cards offer is that their transactions can be converted into monthly EMIs. Using this facility, you can break your large transaction to be paid back into affordable monthly installments. The best credit cards extend exciting offers on EMI transactions like No Cost EMI to make your shopping experience easy and inexpensive. If you are considerate of the budget, you can still carry out your purchase using the EMI facilities by paying a small amount of interest along with the total purchase value.
3) Extra savings through discounts and reward points
All the credit cards come loaded with many signup bonuses like shopping discounts or subscription offers. Also, you can get cashback or rewards points by using a credit card for online purchases or in-store shopping. You can redeem these points or use them to pay your dues. Many credit card merchants offer huge discounts on buying flight tickets or on completing large transactions using credit cards. Cashback offers are yet another advantage through which you get a fractional refund of your transaction amount. It’s interesting to know that cashbacks are applicable on all transactions fulfilling a certain minimum amount, regardless of the items being purchased, if there are offers from the merchant side.
4) Interest-free grace period transaction facilities
Credit cards offer an interest-free period, which is the time throughout which your outstanding amount is not charged with any interest. This interest-free period ranges from 30-60 days based on the lender. So, by using the credit card, you can get easy, free of cost, short-term credit if you intelligently pay back the amount due on your card within the allowed repayment period. Many banks also allow cash withdrawal within the credit limit with minimal charges, which help you satisfy your cash needs in case of any emergency.
5) Security advantages- Payment protection, insurance, one-tap payment options
A credit card also offers added protection by providing insurance on card purchases made by thieves or hackers. Also, in the case of fraud, money is not instantaneously debited from the account (like in the case of debit card transactions). Thus, if the fraudulent activity is reported well within the time, this matter can be resolved. With credit cards, you can easily carry out fast and convenient on-tap transactions at apparel stores, or by using card swipe machines. Also, credit cardholders can avail of numerous other benefits like gift vouchers on trendy brands, airport lounge access, redeemable reward points, and hotel stays, etc.
By choosing the Bajaj Finserv RBL Bank SuperCard, you can avail of certain industry-first features like hassle-free and instant card approval, without any physical KYC documentation or income proof requirement. You can also enjoy interest-free cash withdrawals for up to a period of 50 days. Another amazing feature of this SuperCard is its interest-free loan facility, which can be availed by using the available cash limit to address your financial exigencies.