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Most of us have a bank account these days. Any good financial institution or bank will give you the facility of a credit card. When you are planning on purchasing something by using your credit card, all you need to do is swipe the card in the specific registered machine and the bank pays for your purchases. But does it mean that you are getting the things for free? Well, no.

Though at that point of time you are not having to pay anything for your purchases, you will actually be billed all the expenses at the end of the month. So a credit card essentially gives you access to plastic money at the time of need and you need to pay it back once the amount is  billed by the bank.

Eligibility criteria for credit card owners

Though the eligibility criteria differ from one bank to another, you essentially just need to have a bank account with the institution you want the credit card from. Now the important thing to keep in mind is that most credit cards generally have a limit. So if you are opting for a credit card with a higher limit, you might need to have a good credit score and your banking institution will do a quick background check. Apart from that, these days, you can event get an instant credit card approval from the different online site and apps, while on the go.

Benefits of owning a credit card

Getting instant cash is one of the most popular reasons why people opt to have a credit card. But along with that there are many other benefits attached with the same.

  • You can go cashless

Having a credit card makes it easier for you to go cashless. You do not need to carry around a lot of cash as all you need to do is swipe your credit card whenever you need to make a payment. It is not only a much safer option but it makes the payments rather secure as well.

  • It is much more convenient

In most cases, it is much more convenient to swipe a credit card than to pay with cash or any other medium. At times it is normal to have a shortage of cash or bank balance. In such cases all you need to do is swipe the credit card and your payment is made. This makes the whole process more convenient.

  • You have a system of record keeping

When you are making a payment through your credit card, it automatically gets recorded by your bank. At the end of the month, when you receive your bill, you will get the details of all the payments you have made. This helps you to keep a record of all your payments and the expenses that you are making each month.

  • Loans against credit cards

If you have a credit card from a good banking institution, you should be able to get a loan against it. This is one of the best benefits of owning a credit card. There are many different types of corporate credit cards that help you to get loans for your company. As an entrepreneur if you are having trouble financing your company, you can use your company credit card to get a loan for such investments.

  • Perks attached to credit cards

Having a credit card helps you to get many perks. The most common ones are the different discounts that you can avail if you are making payments with the credit card. These days most big brands and online shopping portals have tie ups with the different banks and these credit card holders become eligible for these customized discounts and offers.

  • EMI facility option against credit cards

If you require purchasing something on an EMI, you can easily avail this facility with the help of a credit card. Most of the EMI companies will accept credit card as the platform for such payments making it easier for you to make the payments in installments.

Can a credit card get you into trouble?

Though there are many benefits attached to a credit card, if you are not careful, you might be faced with some disadvantages as well. Here are some of the common troubles you might face with a credit card.

  • You might overuse

Since you do not have to make any immediate payments, it can sometimes get easy for you to over use it. If at the end of the month you have the required finances to pay back the bill, you do not have any trouble. But if you are short of funds during the bill payment date, you might have to pay some interest.

  • Unexpected fees

Sometimes there are some unexpected fees attached to the credit card which makes you pay more than the actual cost of the goods and services that you purchase.

  • Increase in debt

If you are unable to pay back your bills on time, you keep on accumulating debt. This has an adverse effect on your credit rating.
It is advised that you use your credit card only when necessary and within your means. Make sure to set a comfortable limit to your credit card and pay off your credit card bill before it becomes subject to any interest.

Credit Card Offers by Banks and their Toll-free Numbers.

S. No Bank Name Customer Care Number
1 SBI Toll free 1800 425 3800,
SBI Bank Credit Card Customer Care Number [1860 180 1290] 24*7 Support.
2 HDFC Bank 1800 266 4332
In case of loss/theft of your Credit/Debit Card, you can immediately call the 24 x 7 HDFC Bank Card Customer Care number at 1800 266 4332 and report the theft.
3 ICICI Bank 1800 103 8181
ICICI Bank Credit Card Customer Care Number 1800 200 3344. For any queries related to your credit card and other banking services, you may call the number1800 103 8181 on Monday till Friday between 9.00am to 6.00pm.
4 Citibank 1860 210 2484
24×7 CITIPHONE. With CitiPhone, every telephone is like a Citibank Branch, enabling you to do business with us at your convenience. Use +91 22 4955 2484for calling us from outside of India.
5 IndusInd Bank 1860 500 5004
Grievance Redressal. You may login your complaint relating to Credit Cards as under: Call Contact Center on following nos.:1860 500 5004 / 1800 209 0061 / 022 4406 6666 (Outside India) Email us at premium[dot]care[at]indusind[dot]com.
6 Allahabad Bank Allahabad Bank::HOME. Customers to dial on new 24×7 toll free number 1800 57 22 000 of Allahabad Bank’s Contact Centre for any query or for registering complaint.
7 Andhra Bank 1800 425 4059
Andhra Bank Credit Card Customer Care Toll – Free Numbers:
Toll – Free Number For Contact Number
Customer Care 1800 425 1515
Credit Card 1800 425 4059
Queries or Grievances 1800 425 2905
8 Bank Of Baroda 1800 102 44 55
Bank of Baroda Credit Card Customer Care Toll-Free Number: 1800 102 44 55.
9 Bank of India Bank of India 24 Hours Customer Care Numbers:
Bank of India Credit Card Customer Care Toll Free Numbers – Within the country 1800 220 229 1800 103 1906
Bank of India Credit Card Call Centre Numbers – Within the country 022 – 40919191
Bank of India Credit Card Call Centre Numbers – Outside India +91 22 40919191
10 Bank of Maharashtra 1800 102 2636
Phone enquiries for BoM SBI card: If you have a query about the BoM SBI credit card and want to contact the bank by phone, you could call the dedicated Bank of Maharashtra credit card customer care toll free numbers at 1800 233 4586 or 1800 102 2636.
11 Canara Bank 1800 425 0018
You can get your queries related to credit cards, debit cards, Internet banking etc. resolved. You can call the Toll-Free number 1800 425 0018 for queries related to any of the following: Internet Banking. CanMobile (Mobile Banking)
12 Central Bank Of India Central Bank of India 24*7 customer care toll-free number is 1800 22 1911.
13 Corporation Bank 1800 22 6606 (Toll Free)022 – 4042 6009
14 South Indian Bank 1800 425 1809
You could also call the SIB credit card customer care toll-free number at 1800 425 1809/1800 102 9408.
15 Indian Bank 044 – 2522 1321
16 Dena Bank Toll Free 1800 233 6427 (24X7)
Dena Bank customers can dial the toll free number to report all their grievances. The issue can be anything related to the bank accounts, NRI services, government schemes, ATM services, insurance products, etc. The customer helpline is available on all business days from 10:00 a.m. to 5:00 p.m.
17 Indian Overseas Bank Toll free 1800 425 7744, or 044-28519573/9574/9575
011 – 2576 1904 011 – 2581 0779 011 – 25731322 011 – 2575 7271
18 Oriental Bank Of Commerce 1800-180-1235
Oriental Bank of Commerce Toll Free Number. If you have any issues regarding your credit card or transaction related queries or you need to report about lost/stolen credit card, then you can call on their toll free customer care number – 1800-180-1235or toll customer care number – 0120-2580001.
19 Punjab National Bank Do keep a record of PNB Credit Cards’ 24 hour customer help line number 1800 180 2345 or 0120 – 4616200 and also of PNB, Credit Card ProcessingCentre, A-37, Sector 60, NOIDA 201301 (U.P.) in a safe and accessible place, ready for immediate use.
20 Syndicate Bank 1800 425 0585
For hotlisting of lost cards or other queries if you are calling from a non-BSNL/MTNL phone line, you can contact 022- 4042 6003. Calls will be charged. Syndicate Bank Customer Care toll-free number at 1800 425 0585.
21 Union Bank Of India Toll – Free Numbers for Union Bank of India Credit Card Customer Support:
Union Bank of India Toll Free Number 1800 22 22 44
Union Bank of India Customer Care Number – Toll Free 1800 208 22 44
Union Bank of India NRI Toll Free Number +91 80253 02510
22 Vijaya Bank 1800 425 9992
Phone: If you wish to contact the bank by phone directly to get your credit card blocked, you can call the same toll free Vijaya Bank credit card customer care number at 1800 425 9992/5885/4006.
23 HSBC Bank 1860 108 7788
Contact
Resident Customers Within India
HSBC Premier (Toll Free) 1800 266 3456 or 1800 103 4722
HSBC Advance (Toll Free) 1800 267 3456 or 1800 102 2208
Personal Banking 1860 266 2667 or 1860 500 2255
Credit Cards 1860 108 7788 or 1860 500 2277
24 Axis Bank 1800 209 5577
Axis Bank Credit Card Customer Care Number
Card Type Toll-Free Number
Credit card 1800 233 5577 1800 209 5577 1800 103 5577
25 American Express 1800 419 5960
For queries regarding transaction authorisation, please call 1800 419 5960 (Toll Free) or 0124 280 1010(Landline). The authorisation help desk is there to help you 24/7.
26 Kotak Mahindra 1860-266-0811
Call us. For assistance, call our Phone Banking at 1860-266-2666 or, 1860-266-0811 if you are an 811 customer.