Last Updated on May 20, 2021 by MoneyVisual
Credit cards are one of the most useful financial tools today as it offers access to a line of credit which you can use to meet your expenses easily. However, not all cards can help you avail the same set of benefits, which is why future users should be careful while opting for a card. An RBL Bank credit card, for instance, provides some attractive features and benefits that can be useful for you.
Reasons to Only Consider RBL Bank Cards
1. Quick Approval Procedure
After applying for a credit card, the provider will consider multiple features before approval. With RBL Bank cards, you can enjoy instant approval and quick disbursal of the card. The online application procedure eases the hassles to applying for the card. However, make sure you meet all eligibility criteria and document requirements for the same.
2. Interest-Free Loan
Emergencies can occur at any time and you may lack the funds to deal with it. Under such circumstances, you can convert the credit limit for your RBL Bank credit card into an interest-free loan for up to days. You can repay the said loan within 3 months as EMIs.
3. Earning Rewards
Using these credit cards allows you to accumulate reward points. These redeemable points help you save money and avail considerable discounts on certain products and services. You can utilise your credit card reward points by making specific transactions. For instance, you can avail discounts on flight tickets and enjoy a budget-friendly family trip using the points accumulated on your card.
4. Interest-Free Cash withdrawal from ATMs
While you should avoid cash withdrawal from ATMs using a credit card, the RBL card allows interest-free withdrawals for up to 50 days from the time of availing the card. During this period, you can withdraw as much of your credit limit as you want without incurring any additional charges. However, the issuer does charge a processing fee for these transactions.
5. Added Security Benefits
RBL credit cards, such as the Bajaj Finserv RBL Bank SuperCard, offer immense security against fraud and cybercrimes. The zero-liability cover present in these covers ensures you are free from financial and legal liabilities in case of card theft and illegal usage by a third party. Additional security measures, such as the RBL MyCard app allows you to monitor real-time usage of credit card and effectively block it as per your requirements.
Such cards can help you handle your financial liabilities effectively if you know how to use credit cards.
Avoid Making the Following Mistakes while Using Such a Card.
- Defaulting or Partial Bill Payments – Ensure you pay the bills on time and pay it in full. Always aim to clear the maximum outstanding mentioned in your credit card bill instead of the minimum. Paying the minimum will transfer the remainder outstanding onto the next statement along with interest.
- Maintaining High Credit Utilisation – Try to keep your credit utilization below 40% of the credit limit. High credit utilization can negatively affect your credit ratings and reduce the chances of availing a credit limit increase or other better terms.
Bajaj Finserv provides pre-approved offers to make availing credit cards faster and easier. These offers are available on credit cards as well as on personal loans, business loans, home loans, etc.
You can check your pre-approved offer by providing your name and phone number. Understand how to use credit cards and start taking advantage of what these cards have to offer. Opt for RBL Bank cards to avail of the best rewards, discounts, and offers.