Low Fee credit cards are a kind of credit cards which are available to the customers by paying less fee. The joining fee of such credit cards will be less as compared with other cards. The annual or renewal fee will be either small amount or the cardholder need not have to pay renewal fee at all.
The following are the benefits of low fee credit cards in India
Welcome Gift: Most of the low fee credit cards offers the welcome gift to the cardholders wherein the cardholder earns air miles and the accumulated points can be redeemed against air miles which includes both domestic and international airlines.Some of the cards offer free tickets with selected airlines.
Less Joining Fee: The low fee credit cards come with an exclusive offer, wherein the cardholder has to pay less joining fee or in some cases, the joining fee will be nil. This will attract more customers to go for such kind of credit cards which offers less or no joining fees. The cardholder need not have to pay any kind of annual fees in case of most of the low fee credit cards.
Cashback Rewards: Low Fee Credit Cards offers a lot of cashback based reward points which benefits the cardholder during every spending. With some cards, the cardholder can earn cashback twice.
Zero Liability in case of lost card: If the cardholder loses the travel credit card in a domestic country or abroad, then the cardholder should immediately report the matter to the bank by calling up the call center which is operational 24X7, which in turn blocks the card and thus avoiding any kind of fraudulent transactions. The cardholder will have zero liability on any fraudulent transactions made after reporting about the loss of the card.
Concierge Services: The cardholder can take help of concierge services which saves the valuable time with a staff of specially-trained expertise who are ready to assist with travel, shopping, dining, entertainment, hotel booking and so on.
• Identity Proof – Copy of Passport / PAN Card / Aadhaar Card / Driving License/ Election Voters ID Card
• Income Proof – Latest Income Tax Return Form/ Form 16/ Salary Slip (only in case of government / PSU sector employees)
• Address Proof – Copy of Passport/ Electricity Bill/ Bank Passbook of PSU Bank / Fixed Line Bill / Aadhaar Card
• PAN Card copy
• A color photograph
• Last three months bank statement
• The applicant should be an Indian resident.
• The applicant should have attained the age of 21 years.
• The applicant should have a good credit history.
• The applicant should either be salaried or self-employed.
• For any kind of specified eligibility criteria please refer to respective bank’s web portal.
The aspiring customer can apply for the low fee credit card either through offline mode or through online mode.
For offline mode, the customer has to go through an array of low fee credit cards offered by various banks and should zero in on one particular card which meets his/her requirements. Later the individual can walk into the nearest bank branch of the selected credit card and express the opinion of possessing the required credit card to the bank executive who in turn will explain all the features, benefits and other related things which are associated with the card. The aspiring customer will be asked to fill in the application form and has to submit the required documents as mentioned in the form and should hand it over to the bank’s executive. The bank executives will go through the submitted details thoroughly before approving the issue of the credit card to the customer. It is at the sole discretion of the bank to decide if a prospective customer has to be given a credit card of the bank or not.
For online mode, the customer can directly apply through respective bank’s website.
• Visit the official bank’s website.
• Search for the travel credit card that suits the needs and requirements.
• Click on the ‘Apply’ button to visit the online application page.
• Fill up all the details and click on the ‘Submit’ button at the end.
• The application reference number will reflect on the screen, the customer has to note down the same number for future references.
The following are the Low Fee Credit Cards available in India: