What is a Credit Card?

A short-term credit facility given by banks to their account holders which allow cardholders to borrow funds to finance their purchases. A condition is imposed on the cardholders to repay borrowed funds along with interest and other agreed-upon charges. [1]


How do we recommend the best-suited credit card for you?

There are multiple criteria in our proprietary algorithm that we look at even before recommending any financial product. For example, your demographic, geographic, bureau data, etc as explained here.

For credit card recommendation, we focus on 2 factors for our customers, which are:

1. Reward Points – The most appealing feature of a credit card is its reward point system. With a credit card, you could get additional savings on your expenses like travel bookings, shopping cash backs and much more. If you patronize a brand or product and that comes under the credit card reward system, then you will not only save money but also get privileged services from that provider.

Our peculiarity is to find you a card that fits your spending pattern. Once we establish your spending pattern, we will suggest a credit card that compliments it, so you can optimize your money spent.  

2. No-cost EMI – Another feature that has emerged lately, is availing no-cost EMI through some credit cards. Generally, credit cards offer pre-approved loans when you buy certain goods from selected retailers. This allows you to acquire things with borrowed money without effectively paying any interest and without disturbing your cash flow. 


Fundamentals of credit cards

Credit cards are offered at higher annual percentage rates (APRs) than other forms of consumer loans. Interest is charged on the unpaid balance and is generally imposed one month after purchasing is done. [1]

Types of Credit cards

Most credit cards are facilitated by Visa, MasterCard, American Express and are issued by banks and other financial institutions. Many credit cards offer incentives like airline miles, hotel room rentals, cashback on purchases from major retailers. [1

What is a Credit card roll-over?

It is a process of transferring your debt from an existing credit card to a new one. This is also known as a balance transfer. The major benefit for this is that the old credit card dues are completely paid-off and the new credit card comes with joining perks. 


For instance: you can transfer your borrowing from a card which you already own and are paying around 3.5% per month to a new card where you get lower interest rates or at least get an extension on the due date.