Bank1st Year Fees2nd Year Onwards
CORAL 1,000 + service tax 500 + service tax (NIL when card spends are greater than 1,25,000 in the previous year)
JET RUBYX 1,250 + service tax 2,500 + service tax
HPCL CORAL 199 + service tax 199 + service tax (NIL when retail spends are greater than 50,000 in the previous year)
PLATINUM CHIP 199 + service tax (ZERO Joining Fee on Online Applications) 99 + service tax (NIL when card spends are greater than Rs. 50,000 in the previous year)
JET SAPPHIRO 2,500 + service tax 5,000 + service tax
RUBYX 3,000 + service tax 2,000 + service tax (NIL when card spends are greater than 2,50,000 in the previous year)

What is a Credit Card?

  • Credit Cards are basically payment cards issued to a customer as a method of payment to pay for goods in advance or for immediate payment. These needs to be paid back to the bank/financial institution, within a fixed period of time, either in monthly installments or in lump sum.

  • The different types of credit cards are as –
  • Standard Credit Card

  • most commonly used one.
  • Premium Credit Card

  • Includes airline frequent flier credit card, cash back credit card etc
  • Secured Credit Card

  • Security deposit required along with revolving balance
  • Limited Purpose Credit Card

  • Can be used for only particular applications
  • Charge Credit Card

  • No limit to credit and requires customer to make full payment each month
  • Specialty Credit Card

  • used for business purposes to keep business transactions conveniently separate.
  • Prepaid Credit Card

  • Money is loaded initially itself into the card.
  • How we can help?

  • With the specialized “smart” algorithm we have designed in Growideportfolios, we help you to compare the different types of Credit Cards available and suggest to you the one most suitable and apt for your needs. With an unbiased Credit Card Eligibility Calculator, our suggestions of the card apt for you, is free from any inclination or favoritism.
  • Eligibility Criteria

  • Any Indian citizen in good standing who is salaried, self-employed or business person with regular source of income can apply for a credit card .
  • The applicant should be above the age of 18 years
  • Should have a regular source of income, with the amount varying and depending on the credit limit taken .
  • Should have an existing Savings Account in his/her name
  • Bad Credit is not entertained .
  • Why should I get a credit card?

  • Helps improve your credit score .
  • Use it for shopping, dining, travel expenses, bill payment etc
  • Borrow money from bank in form of a loan, whenever the need be.
  • What should I do if my card is lost or stolen or misplaced?

    Stay calm, relax, call your bank and let them know of the incident. They will block your card and in most cases provide you with a new one within a week.

    How does it differ from debit card?

    The money that you draw out via debit card is your own money taken out from your own bank account. The money that you draw out via credit card is a kind of short term loan granted by the bank.

    How does it differ from debit card?

    The money that you draw out via debit card is your own money taken out from your own bank account. The money that you draw out via credit card is a kind of short term loan granted by the bank

    How is a credit card better than a debit card?

  • Helps build a better credit history
  • Reward programs associated with credit cards are very appealing, which can be enjoyed as cashbacks, reward points for shopping, gift cards, vouchers etc.
  • When a fraud is caught on credit card, the chances are that you might be saved from paying the money altogether. But when a fraud is caught on debit card, it implies the money has already been used up and spent.
  • The customer gets a specific time period to clear the payments
  • When is it not better than a debit card?

    If you are someone who is an impulsive buyer, then credit card might not be a good option for you. If you shop for the sake of shopping and you tend to go slow on the payment of your Credit Cards, then it wouldn’t be a wise choice to go for one.

    What happens when I fail to pay the due payment within due date?

    Late payment charges are levied along with higher interest rates.

    How do the bankers decide my credit limit?

    The credit limit depends on the type of card you own which is then again based on your income and credit score. While deciding the credit limit, the banker looks at the customer’s ability and willingness to pay.

    Can I shop with my credit card whilst abroad?

    Definitely yes but it incurs high interest charges.

    What are the things I should take care about with a credit card?

  • Always make sure you have got the card back from the shopping counter after making a purchase
  • Never give your credit card number to any stranger, especially over call.
  • Do not write down your PIN number behind the card and take extra care not to forget it either.
  • How to get the best deal in choosing credit cards?

    The best option would definitely be to compare the rates of various vendors together, along with the personal details needed to find the right answer. Growideportfolios helps you with this task and makes life easier for you in just a few clicks.

    How does a credit card insure my purchases?

    Many credit cards come with a feature that the item that you buy via credit card is already insured. If you buy a product and find that it is faulty, you can hold the payment until the product is replaced or the issue is resolved. The premium variants of credit card come with a cover for up to 90 days.

    What are the charges involved?

  • Joining fee – paid at the time of purchasing a credit card
  • Annual fee- pre- specified amount paid annually by people having credit card
  • Duplicate statement fee- a fixed sum charged on getting a duplicate statement in physical form
  • Late payment charge – penalty to be paid over and above the interest charges, if the payments are not made timely.
  • Cash withdrawal- an interest is charged on withdrawal of cash against the credit card
  • Service Tax
  • ECS or cheque return charge- a fixed amount is to be paid in case of ECS failure or cheque bounce
  • Foreign currency transactions- for the transactions made on the foreign land, a defined percentage of transaction value subjected to a minimum amount is to be paid to the credit card issuer.
  • Over-limit fee- It is the fee charged when your purchases/ fees exceed your credit limit.

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