what is a credit card

what is a credit card: A credit card is a kind of plastic card, which looks exactly like a debit card ie ATM card, the same can be used by any bank or non-banking financial company.This card gives you a spending limit by the bank keeping in mind your credit score, that is, you can spend as much as the loan limit has been fixed by using this card. It is not linked to your bank account, that is, on purchasing it, not a single rupee will be deducted from your bank account, you have to spend within the limit you have got.

You can also withdraw cash from any ATM machine in case of emergency through this, the bank gives you a credit free period of 50 days to pay whatever amount you spend from your credit limit.Due to which whenever the bill of rupees spent by you is generated, if you pay the bill within the stipulated time, then you can avoid any kind of penalty and any other kind of charge.

What is the difference between Credit Card and Debit Card

What is a credit card, we know, if we talk about the difference between credit card and debit card, then it is something like this.

  • Debit Card

Debit card and credit card both look the same. Debit card is given to every account holder whose account is in that bank. Through debit card, you can withdraw the amount deposited in your account through ATM.

With the help of the same debit card, you can also make online payment, but in this you do not get the facility of EMI, through this card you can spend the same amount as the amount deposited in your bank says is available.

On using the same debit card, money is deducted from your bank account in real time because the debit card is directly linked to your bank account. The same card does not require any kind of credit score, anyone can take it.

  • Credit Card

If we talk about credit card then this limit is offered to all the customers who have good credit score and earn good amount of your month. This is a type of loan that is censored by the bank in the form of a credit card, considering your monthly income, a limit amount is sensitized which you can spend within the month by credit card.

You have to pay the same spent amount when you get the total bill in the stipulated time, if you do not make the same payment, you have to pay some extra charge as interest. Through this card, you can make all the payments that you do with the debit card, through the same credit card you can also buy any item on EMI.

Types of Credit Cards

If we talk about how many types of credit cards are there, then they are of many types, in which different types of offers are given.

  • Standard credit cards
  • Balance Transfer Credit Card
  • Reward Credit Card
  • Student Credit Card
  • Charge Card
  • Secure Credit Card
  • Subprime Credit Card
  • Travel Credit Cards
  • Entertainment Credit Cards
  • Lifestyle Credit Cards
  • Airmiles Credit Cards
  • Limited Purpose Cards
  • Business Credit Card
  • Basic Credit Cards
  • No Annual Fee Credit Cards
  • Low-Interest Credit Cards

What are the advantages of credit card

If you take a credit card, then it has many benefits, then know the benefits of credit card in Hindi.

  • If you have a credit card then you do not need to carry much cash as it is more secure than cash.
  • By shopping with a credit card, you have a correct account of the expenses made throughout the month.
  • With this card, you can buy any item that falls within your card limit on EMI.
  • In case of any emergency, you can withdraw cash from any ATM machine.
  • You can take advantage of the offers given by the bank when you shop online with a credit card.
  • Many banks give you reward points on credit card shopping, by depositing which you can avail any item or cash back from it.
  • On taking this card, you get many bank welcome benefits like free movie tickets, discount vouchers, reward points and much more.
Disadvantages of taking a credit card

Credit Card Kya Hota Hai We have known that we all know that everything has its benefits, then it also has some disadvantages, then the disadvantages of credit cards are like this.

  • This card is not available to everyone, who has a good income, who has a good credit record, he is only eligible for it.
  • If you do not pay the bill on time, you may have to pay a penalty which is very high. You have to pay a lot of Q.
  • You may have to pay a charge for withdrawing cash from an ATM.
  • Failure to pay on time can ruin your Cibil Score, due to which you may have to face trouble in availing any further loan.
  • Keeping this can put the burden of debt on you later.
On what basis do I get a credit card?

As we know, the bank does not give credit card to everyone, whenever you apply for a credit card in any bank, then the bank checks your CIBIL SCORE through your PAN card number . That is, your ability to take and repay there and whether you have paid on time on your last taken there or not, apart from this, the bank also asks for information about your monthly income.

how to get credit card

How is a credit card made, if we talk about it, there are two ways to get a credit card, first you can write an application in whichever bank your account is in, and the second way is that you can sit at home on your mobile or You can apply online from computer .

After that you will be asked for your PAN number, there you have to see your civil score.According to your CIBIL score, which card you can get, it will be visible after selecting your card, apply by filling the form. After approval, an agent from the bank will come to your home to verify and you have to give a copy of the Aadhar card, after getting everything right, your card will come to your address by courier.

Which is the best credit card?

These are the names of few credit cards which are considered to be the best credit cards and are loved by the customers.

  1. Yes First Preferred Credit Card
  2. HDFC Regalia Credit Card
  3. Simply Click SBI Card
  4. Citi Premier Miles Credit Card
  5. Axis Bank Ace Credit Card
  6. SBI Card Elite
  7. SBI BPCL Octane Credit Card
What is the time period to pay the credit card bill?

As we have known that credit card gives us a loan, through which you can buy any item from the market, for which you can pay for that item through credit card.

Whose minimum time period for paying the bill is 45 days, if you do not pay it, you may have to pay interest.

How to get loan from credit card?

If you want to take a loan from credit card for any urgent work, then for this the company or bank checks your previous loan repayment before approving it.

With this, the bank or credit card company is able to find out whether you repay the loan on time or not, in addition to this your credit score is checked.

If all the records are good, the bank gives you a loan at 10% to 12% interest rate for three to twelve months.

Credit card terms and conditions

Although every credit card has its own terms and conditions, but we know some important terms and conditions of credit card which we should know before taking credit card.

  • Only after taking any credit, we have to pay the renewal fee fixed by the bank to keep that credit card active for the year.
  • If you make a cash withdrawal from any bank’s credit card, then interest is added on the amount withdrawn on the basis of %.
  • With a credit card, you can withdraw only 80% of the prescribed credit limit from the ATM.
  • With a credit card, you can withdraw cash up to Rs 15000 in a day.
  • The amount spent with the credit card is interest free only for 20 to 50 days after which interest is added on that amount.
  • With any credit card, you can spend the same amount as the limit has been fixed by your bank.
  • If you withdraw cash from a credit card, interest is added on it on a daily basis.
  • If you pay the money spent by your credit card in cash, then a separate tax is added on it, which can be up to Rs 250.
  • If you pay that bill within the stipulated time after the arrival of your credit card bill, then you do not have to pay any extra rupee interest.
  • If you do not pay your credit card bill within the stipulated time, an interest of up to 3.65% can be added on it.
SBI Credit Card Types

These are some of the types of credit cards of SBI, inside which there are many types of service linked credit cards which are for different types of uses.

There are many special types of cards inside all these credit cards like SBI Prime Card, Ola Money Card, Apollo SBI Card, Tata Platinum Card etc. inside SBI Rewards Credit Cards.

  • SBI Rewards Credit Cards
  • Lifestyle Credit Cards
  • Shopping Credit Cards
  • Business Credit Cards
  • Travel And Fuel Credit Cards
  • Banking Partnership Cards

What should be the salary for credit card?

If you want to take a credit card, then in any government or non-government job, your salary should be at least 15000 rupees per month, then only you can apply for the credit card. The same is not accepted when applying for a credit card at a low salary.

How to use credit card?

You can use the credit card for many purposes like online or offline shopping or you can convert the purchase payment of any item into EMI.
You can use the credit card in the same way as the debit card does, only the money is not debited from your account.

Who issues the credit card?

Credit card is issued by any government, non-government bank, which looks at the credit score and previous loan payment taken in front of the customers.

Can the credit card be closed?

Yes, of course, you can close that credit card whenever you want, just your entire bill should be cleared.

What is the difference between debit card and credit card?

Both the cards look the same, but the biggest difference between these two cards is that the money you spend on the debit card is directly debited from your bank account.

The same credit card expenses are paid by the bank, whose bill is sent to you in the month and interest is charged on the amount spent if the bill is not paid on time.

What is the interest rate on Kisan Credit Card?

What interest does the bank charge you 7 percent on any Kisan credit card, which if you pay on time, then the government also gives you a subsidy of some percent on it.

How to know credit card limit?

If you want to know the limit of your credit card, then it is known to you when your credit card is generated and comes to your home where you are told the credit limit along with the card.
Along with this, you can know the limit of your credit card by logging on to the bank’s website.

How long does it take to get a credit card?

After applying for any credit card, it takes at least 7 days to reach your home.

What to do if wrong credit card has been given by the bank?

If you haven’t received the credit card you applied for, don’t worry, take your card to the bank and or contact the customer service officer of your bank where you file your complaint. The bank may issue you a new credit card. Will give


I hope what is a credit card ? Your credit score should be good

Along with this, your monthly income should be good enough so that you can pay the card bill on time.


Que: How to know credit card dispatch location ?

Ans: The credit card dispatch location varies from bank to bank. To check the status of your credit by visiting the official website of the bank in which you have applied for the credit card, you will see where the credit card is being dispatched.

Que: How long does it take to get a credit card?

Ans : It takes at least 7 days to generate a credit card and it is sent to your address.

Que: What is the difference between credit card and debit card?

Ans : The main difference between debit card and credit card is that while using a debit card, the amount gets debited from your checking account. When you use a credit card, the amount is debited from your pre-approved credit limit, not your bank account.

Que: How many types of credit cards are there ?

Ans: There are 5 types of credit cards in India. Travel Credit card, Fuel credit card, Reward credit card, Shopping credit card, Secured credit card.

Que: How to do shopping with credit card?

Ans : For shopping with a credit card, you have to make a shopping credit card, after that this credit card has to be used while paying the shopping bill after shopping and make the payment.

GS SCORE Monthly Current Affairs Sep 2022