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Credit cards have become increasingly popular as they can be used conveniently for online and offline transactions. When you use these to pay for your purchases, you can not only save money but also boost your credit score. With umpteen credit card options available, right from lifetime-free cards to cashback and shopping cards, choosing the right one can be quite overwhelming. It is best to understand the benefits each one has to offer.


Here are 10 key features of credit cards:

  • Credit Limit

Indian credit cards come with a pre-set spending limit determined by the issuer based on your creditworthiness. This allows you to make purchases without carrying cash.

  • Interest-free Period

Most credit cards offer a grace period, typically ranging from 45-60 days, where you can repay your balance in full to avoid interest charges.

  • Rewards and Cashback

Many Indian credit cards offer rewards programs that earn you points, cashback, or miles on your spending. These can be redeemed for travel, merchandise, or statement credits.

  • EMI Facility

Some credit cards allow you to convert large purchases into EMIs for easier repayment, often with interest charges.

  • Online Application and Management

You can conveniently apply for and manage your credit card account online, including bill payments, tracking expenses, and redeeming rewards.

  • Discounts and Offers

Credit card issuers often partner with merchants to offer exclusive discounts, cashback, or reward points on specific purchases.

  • Insurance Benefits

Certain credit cards provide complimentary insurance coverage, such as purchase protection, travel insurance, or accidental death insurance.

  • Airport Lounge Access

Premium credit cards may offer complimentary access to airport lounges, providing a comfortable space to relax during travel.

  • 24/7 Customer Support

Credit card issuers typically offer 24/7 customer support to address your queries and resolve any issues related to your card.

  • Mobile Wallets

Many credit cards integrate with mobile wallets, allowing contactless payments at stores and online transactions with increased security.


Here are the benefits you can enjoy after applying for a credit card:

  • Convenience and Cash Flow Management

Credit cards offer a cashless way to pay, simplifying transactions and budgeting. You can make purchases now and pay later, helping manage cash flow for unexpected expenses or large purchases. 

  • Building Credit History

Responsible credit card usage helps establish a positive credit history, crucial for securing loans or better credit card deals in the future. Timely payments demonstrate your creditworthiness.

  • Enhanced Security

Credit cards often come with fraud protection features, offering greater security compared to carrying cash. Unauthorised transactions can be disputed, minimizing your financial risk.

  • Contactless Payments

Many cards offer contactless payment options using NFC technology, allowing quick and secure transactions at participating stores by simply tapping the card reader. 

  • Bill Payments and Subscriptions

You can conveniently pay utility bills, phone recharges, and subscriptions through your credit card, streamlining your financial management and potentially earning rewards points.

  • Travel Benefits

Travel-specific credit cards offer perks like airport lounge access, travel insurance, priority boarding, and discounts on flights and hotels, making your journeys more comfortable and rewarding. 

  • Additional Perks

Credit cards may offer extended warranties on spends, purchase protection against damage or theft, and complimentary memberships or discounts with partner brands.

Frequently Asked Questions

What are the advantages of a credit card?

There are umpteen credit card benefits such as reduced cash transactions, interest-free credit period, EMI conversion facility, reward points, cashback, and more.

Do credit cards impact credit scores?

Yes. Using a credit card affects your credit score as it helps build your credit history. Hence, you must clear your credit card dues on time to protect your credit score.

Will I be able to withdraw cash from my credit card?

Yes, one of the benefits of credit cards in India is the ability to withdraw cash from an ATM. However, certain credit card cash withdrawal charges may apply, and this varies from one issuer to another.


What welcome benefits do you get with a credit card?

Cashback offers on first transactions at partner stores, e-gift vouchers, partner discounts, and complimentary flight miles are some of the most common welcome benefits. Some cards also offer free subscriptions to streaming platforms like Amazon Prime, Disney+ Hotstar, etc. 

What are the benefits of credit cards?

There are a number of benefits of credit cards, but access to instant funds and the rewards program are some of the most attractive perks. You can enjoy offers and discounts on your credit card transactions. It allows you to shop on EMI and increase your purchasing power, allowing you to afford things that may otherwise be out of your budget. 

What are the 5 key features of a credit card?

Here are 5 key features of credit cards:

  • Instant access to credit 

  • Easy EMI conversions

  • Cash withdrawal facility

  • Rewards and discounts

  • Travel benefits

How do I improve my chances of getting a credit card approved?

Maintaining a good credit score, having a steady income, and minimal existing debt can increase your approval odds.

What are EMI options on credit cards?

EMIs allow you to convert large purchases into manageable monthly payments, though interest may apply.

Are there any annual fees associated with credit cards in India?

Some cards, especially those with premium rewards or benefits, have annual fees. You can also find credit cards with no annual fees.

How can I build my credit score?

Here are a few practices that can help you improve your credit score gradually:

  • Pay your credit card bills on time

  • Maintain a low credit utilisation ratio

  • Don’t apply for a lot of credit at once

  • Monitor your credit reports regularly

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