India's Popular Credit Card Types
Previously dominated by debit cards, India is now accelerating the percolation of credit cards as a result of the shift to formal credit and the rising interest in India among international financial institutions to invest.
Credit cards are primarily used to make domestic and international purchases of goods and services, but they can also be used to withdraw cash from an ATM and transfer money between banks. According to data from the Reserve Bank of India, 62 million credit cards were issued in March 2021, representing a 20% compound annual growth rate (CAGR).
Credit Cards with Reward Points
Check details for rewards on: Hdfc Credit card
These credit cards offer reward points when a certain amount is spent on them all at once. Depending on how the reward points are used, these credit cards come in three different varieties. For instance, the majority of businesses offer two or four reward points for every INR 100 spent. In India, this sum typically hovers around a hundred.
When reward points can be redeemed for cash, the value of those points varies from card to card and typically ranges from INR 1 to INR 0.25.
where users can collect reward points and buy the listed items from the provider's or partner companies' websites.
Credit Cards For Travel
Check details: Hdfc Credit Card
To help those who want to take vacations or travel frequently, some banks have partnered with travel agencies to launch cards. These cards offer users reward points when they buy tickets or reserve travel packages, and the reward points they accumulate can be redeemed for additional travel accommodations or airline tickets.
Premium Credit Cards
Check details Premium Credit Card: Hdfc Credit Card
Cashback Credit Cards
Hdfc Cashback Credit Card
A cash back credit card gives you cash in exchange for a portion of the money you spent using the card. This method of doing business is incredibly simple. Credit cards with cash back come in two varieties:
It is uncommon to find credit cards that offer the same cash back on every purchase. cards that offer various cashbacks on various product categories.
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