what is cradit card

dear friend we often listen about cradit card,or plastic money and debit card .  hear i will explain you what is credit card , what is debit card and what the purpose of plastic money .

In modern times, if you go shopping somewhere, most people are sure to put their hands in pocket, but not to withdraw money, but to remove the credit card kept in purse. In fact, you have a special type of facility or credit given by a bank by a credit card, under which you can pay a certain amount of time for shopping and deeds, with the help of this card. After that, you have to return this amount to the bank in a certain time. It depends on you whether you pay this amount in Lump sum or in Installment. In other words, Credit Card is a loan given to you by a bank, which you have to pay later. The most important thing is that this loan is limited and there is a time limit for paying it. If you spend more than the Credit Limit or do not pay the bank until the Re-Payment Time Limit, the bank can take action according to its pre-determined rules and impose interest / penalty.

Credit Card Eligibility Criteria : 

If you want to take a credit card from any bank, you must know some things before that. This is important information that the bank wants to know about you before giving you a credit card. Based on this information, the bank decides whether you are eligible for a Credit Card or not. These important facts are as follows:

Credit Score :-

If you have already taken a Bank Loan or have any other bank credit, then it shows the history of your loan payment. Based on this history, you get Bank Credit Score and are generally known as credit Score. The better this rating is, the easier it is to get a credit card. Based on this, the banks may estimate whether you return the loan to the bank on time or not. In the event of this rating or bad credit score, you may find it difficult to get a credit card.

Income and salary :

The bank also gives full information about your income before giving you a credit card. If your income is less than the income set by the bank, then you can consider paying a bank credit card. Just as if the bank has given Income Limit 20000 to give credit card and your income is less than that, then you will not be eligible to get a credit card.

Before giving credit card, the banking company also wants complete information about your employer. If this information is not Satisfactory and you are working in a place which is not permanent then you can not get a credit card.

Nowadays almost everyone gets their salary through the bank. In this situation, if your Salary Account is in the bank from where you are applying for a credit card, it is easy.

How to Apply For Credit Card

When you make sure that you are Eligible to take any bank's credit card, then you can apply for a Credit Card. Nowadays, almost every bank is offering credit card facilities to its consumers. You can apply for this as per the following process:

1. First of all, in the form you received from the bank, you fill out your personal details. In this, your full name, age, date of birth, home address, mobile number, email id etc. are given.

2. The following Documents are levied with this form:

PAN Card, Driving License, Passport, Voter ID, Aadhar Card (any of these) for ID Proof

PAN card for driving sign, driving license, passport (any of these)

Voter id, driving license, Aadhar card, passport (any of these) for address proof

Photo of your passport size;

3. The full name, address and phone number will be given where you work in the column with your Employment Details.

4. You have to give your bank details in which your bank's full name, address and full details of your account

5. If you already have a Credit Card, then you have to give a complete description

The bank verifies your Credit Card Application Form complete. After being fully satisfied, your Credit Limit is fixed and you are given a Credit Card Issue.

How to use credit card :- 

After taking a credit card it should be used so that you can take advantage of it, you can take care of the following:

Your Credit Limit should be kept in mind while spending a credit card.

Avoid getting Late Fees on time by paying your credit card's Due Amount. This will not spoil your credit rating.

Whatever you spend with credit card, keep your budget in mind. Otherwise your balance of income and expenditure will be deteriorating.

Make a payment within the bank where you pay your Due Amount, in which you pay the Repayment Time Limit. If not doing so, the bank can impose Penalty on your Total Amount.

Keep a full description of what you are spending on credit card, so that when you have to pay a Credit Card payment, you can see the different Charges and Actual Expenses imposed by the bank.