Credit is a type of borrowing. Credit is borrowing which is promised to repay in future or within flexible time. Credit is a contract between the loaner and borrower. Credit is a type of activity done in honor of sum of money to pay off the need or fulfill certain emergencies.
Credit is a type of activity in which individuals enjoy advanced goods and services and agree to pay in future with interest rate. Generally , credit is considered when one party agrees with a second party to use their sum of money or other resource at the time of need or certain period and repay within tenure period or future period.
Credit is a type of financial services majorly. Credit supports and helps the people when they have unfair financial conditions. Credit is a formal and legal method of lending money with flexible terms and conditions.
Credit is usually termed with belief or trust according to english of the 1520s. Credit activity/operation of lending stands for so. Credit is to make payment of a certain amount with belief of party repayment within the period. Credit is a type of agreement in which a borrower is liable to pay in future to their lender with service charges.
Credit is a type of operation in which addition of money when it lends in the form of charging their services.Credit is deferred payment. The person who credits/lends the amount is known as ‘Debtor/Lender’ while the person who borrows/takes money is known as ‘Borrower/creditor’.
Reasons of Credit
- Due to sudden or emergencies
- Poor finances.
- To fulfill our needs and wants.
- Unfair condition.
- To increase the financial capabilities.
- Type of support.
About credit Card
Credit card is a type of plastic money in the form of a rectangular card. Credit card is a card which assures credit via card online transactions.Credit card is a type of money card which pays for our expenses or needs.
Credit card is a type of facility listed under the credit , too easy and quick for the credit transaction. Credit cards provide credit from banks in the form of online banking/netbanking. Credit card is a card which pays in the hidden form of swiping or wifi card.
Credit card is a type of account in which borrower transactions are recorded , they have proof using a credit card within their expenses. Credit card is associated with our account and in honor of the condition of our account , the bank provides a credit limit upto that number or value.
Credit card is a type of security in which both lender and borrower.
- According to the lender , they have the status of borrower and their borrowings , so if a borrower changes with their words of credit and facility using they have proof to clear it out.
- According to Borrower , in case of lender extra charges or voice for extra or useless expenses , they have proof to show their chart of payments and accounts. They can be particular with their credit services and usage.
Credit card is a type of support as it supports financial when we have unfair conditions or amount of money is less and forget to carry. Credit card support in face of financial services and promise to repay in future in form of billing payment.
Credit card is a type of billing in which expenses upto a credit limit completes , then the bank assures the bill and data of credit expenses , after that the borrower checks it out with proper details and repayes it. And again the process took place , used the amount of credit and paid the bill.
Credit card is a type of limit in which you can’t redeem an amount more than its limit. With a credit card , we know about our expenses and actual needs and want to pay off.Credit card limits our credit limits in honor of account favourability.
Reasons of credit card
- To secure our credit/borrowings from theft and other conditions.
- To associate with credit digitalization.
- To maintain data of credit usage.
- Easy to carry and transfer.
- To build a Good credit score.
- Maintenance of credits services
- To enjoy the benefits such as cashback , discount , sale etc.
- To work under the limit of the account
- Unfair economics/finance.
- To pay off debts , sudden and emergencies expenses through online transactions/netbanking with data maintenance.
Types of Credit Card
Student Credit Card
- Student credit cards are assured to pay off the student expenses such as fees , books , education tours etc.
- Credit availability 0% charges
- Easy pay and quick opportunities of education.
Travel Credit Card
- Travelling credit card for the purpose of travelling.
- To meet the expenses of traveling such air tickets , cab bookings.
- With this card , you earn reward points and easy access to vip boards.
- Discounts and other offers available for future bookings and present ones too.
Fuel Credit Card
- Fuel Credit card to pay bills of fuel.
- To reduce the cost of transportation.
- Extra reward points which will provide discounts on fuel costing in future.
Personal Credit Card
- Personal credit card to pay off the personal expense.
- Credit facility up to demand for credit assurance and account maintenance
- Extra benefit of reward , cashback , points , extra services or free.
Business Credit Card
- Business Credit card to meet the expenses of Business such bills payment , increase in production
- Lower interest rates and reduction in other fees charges
- Easy purchasing of business such as inventory , vehicles , area (land) etc.
Shopping Credit Card
- Shopping credit card to provide credits for the purpose of shoppings.
- To shop from the stores , malls and online stores.
- Enjoying the round back , cashback , discount , extra service.
Secured Credit Card
- Secured Credit card is assured against the fd’s and savings accounts .
- This credit card help the user to build their good credit score
- Attractive interest and offers
Purpose of Credit Card
- To save from theft and other sudden.
- To avoid cask transactions
- To advance the online transaction
- To maintain data of credits
- To secure from exploitation and charges of other credit such as loan
- To ease the way of payment and purchasings
- To eliminate the process , approval , operations within the credits
Benefits of Credit Card
- No transaction fees
- Credit information with data
- Fuel to purchasing power.
- Not associated with any accounts such as savings , deposits
- Protection of money
- Particular with online banking
- Easy transfers
- Payments with offers of cashback , discounts , lower interest rates , rewards etc.
- Easy availability of credit
- Quick and fast process to service fiance in credit
- Easy maintenance and valuing
Eligibility of Credit Card
Eligibility of credit card are as follows :
- Should be Indian citizen or residential
- Should be equal or above 18 yrs.
- Should be particular with necessary documents.
- Should be earning individuals.
Documents of Credit Card
Credit Card is a type of credit which is also known as borrowings.To assure the borrowings people ask for the proof and documents verification , so that they can trust you or believe in your capability of repaying with their terms of charges.
Documents required for credit card as follows :
- Identity Proof such as aadhar card , pan card , voter id , driving license , passport.
- Address proof such as fees deposit of gram panchayat.
- Categories proof such as certificate of caste (ST/SC/OBC)
- Copy of bank pass book of 6 or more than their months.
- Income statement of 2 years (current and previous ones)
- All the sheets of 2 years such as balance sheet , proof and loss accounts.
- Gst return file of one year.
- Co applicant or guarantor proof and documents.
Registration of Credit Card
For registration of credit cards , it is important you have to be associated with any bank because this facility of plastic card money is provided by them only to their customers or associated people.
Registration of credit card , you become an authorised creditor of the bank who is providing your online credit transaction facility by trusting you. For registration of credit card , you have to follow these basic steps :
- Visit your bank and or if you are not associated with any bank go for the nearby branch of icici bank.
- Ask for a credit card facility , but first have a good credit score and relationship with the bank to be effective and good.
- Then , fill the form of reading for the facility of credit card with proper and basic details.
- Then , sign with the terms and guidelines of the credit card facility.
Then your approval of the credit card process will begin and you are eligible for a credit card. As the approval of credit within the hrs. You will be able to enjoy the facility of credit.
Credit Card Online Registration
- Visit the official website of your bank or if not associated with a bank then , visit the official website of ICICI Bank ‘www.icicbank.com’.
- Then Login your id , if new you create your id.
- Then , click on ‘Credit Card facility’.
- Select the option for the reason you want for the credit card as in student credit card , personal credit card etc.
- Then , the form will appear to fill that basic and required details.
- Click on the submit button before paying the charges and fees of credit card services.
After this , your approval of the credit card process will begin and your card will reach you at your place within hrs. With this you can enjoy the benefits of credit cards such as cashback , discounts etc.
For More details regarding bank services of loan , credits . You may visit our official website and stay updated with us “www.loanjankari.com’.Stay safe and Thank you!