Credit card is a convenient alternative to cash or check-based transactions issued by banks and financial institutions, enabling the holder to make a purchase (or draw advance cash) on credit. The due amount at the end of the billing cycle may be paid as a lump sum within the due date in smaller instalments before the final due date.

• No less than 18 years old at the time
• Either salaried or self employed (Salary proof/ acknowledge ITR required)
• Have at least one savings account in an Indian Bank
• Have a valid Indian address
• Qualify the minimum income requirement set by the card issuer etc.

You can apply for a credit card online in less than 2 minutes through Money tick. After you have completed and submitted the online application, the prospective card issuer will get in touch with you and ask you to submit the supporting documents. To apply for a credit card click here.

Almost all Credit Cards have a cash withdrawal limit. You can withdraw instant cash up to the limit from any ATM. Banks charge a cash withdrawal fee on every withdrawal, which can range anywhere between 2.5% to 3.5% of the amount withdrawn. This cash advance facility attracts interest from day 1.

This depends on the type of credit card. Many won’t charge an annual fee, but some – particularly those that offer competitive rewards or incentives such as travel insjurance, car breakdown cover or concierge services – will. Always check before you apply.

Yes. Even though the best deals are reserved for those with excellent credit scores, some credit cards – known as credit builder cards – are designed to help those with poor credit scores or no credit history at all.