Exclusive offer for SBI Bank Credit Card for New customers

Standard

State Bank of India offers a number of unique credit card options catering to the needs of a large section of people. From travel centric credit cards to co-branded credit cards and from normal credit cards to premium credit cards, SBI has a credit card solution for each sector. State Bank of India credit card offers a number of schemes and benefits and rewards for new customers as well as existing clients. While existing clients get active discounts in shopping and reward points contest that can be redeemed for cash backs and gifts, new customers are offered various new incentives and attractive discounts. Let us take a look at some of the exclusive SBI credit card offers available for new customers for this month.

sbi credit cards

SBI Offers for New Customers for June 2014:

State Bank of India has a number of new features and offers lined up for the month of June to attract new customers for opting for SBI credit card. Latest offers on SBI cards include 5% exclusive discounts on room tariff to all SBI Corporate Cardholders on Lemon Tree Hotels, India’s 3rd largest chain of upscale business and leisure hotels, 5% Cash back on CHROMA, Valid on transaction of Rs. 17,500 & above (Offer valid till Jul 2014), 15% Cash back on booking Domestic flight using SBI Card booked using the travel portal Makemytrip.com. SBI credit card offers Buy-1-Get-1 offer on movie tickets for new customers for the month of June opting for any of SBI Signature cards. The offer is valid till September 2014. For online shopping enthusiasts, State Bank of India is offering a 20% discount on online shopping at Myntra.com for new customers. The offer is valid till 31 Dec 2014. For frequent travelers, SBI offers 10% off at participating Price Match Guarantee at Hotels.com for all new credit card customers who apply in the month of June. The discount offer is valid till 31 October 2014.

makemytrip offers

Offers on SBI Platinum Cards:

Users opting for SBI platinum cards would get 5X Reward Points On Dining, Departmental stores, Grocery & International Spends along with bonus Spend Rewards on achieving Annual Spends of 4 Lakhs & 5 Lakhs. Complimentary membership to Priority Pass Program as well as access to over 600 Airport lounges in over 300 cities worldwide is also being offered apart from various other active discounts.

Offers on SBI Yatra Card:

Users opting for SBI Yatra travel centric credit card would get Yatra.com vouchers worth Rs. 8,250 as soon as they enroll for Yatra SBI Card. The freebies include 2 vouchers worth Rs. 500 each for Domestic Travel & 1 voucher worth Rs. 1,500 for Domestic Holidays and 2 vouchers worth Rs. 1,000 each for International Travel & 1 voucher worth Rs. 3,000 for International Holidays. Other offers available for SBI Yatra credit card owners include 2.5% Value Back on all Departmental stores and Grocery spends and 2.5% fuel surcharge.

sbi yatra card

Dining Discounts:

SBI offers 15% discounts on Dominoes Pizza along with best culinary offers across leading restaurants in various cities.

Online Shopping Discounts:

SBI offers 5% cash back on Croma retail stores valid for new users till July 2012 along with 5% cash back scheme for Easyday stores. 5% cash back scheme is also available for new card applicants on Spencer’s and total superstore.

Advertisements

Minimum Payments on Credit Cards

Standard

There are different terminologies used when denoting various types of functions of a credit card. When you visit any bank website, you will see different links for varied types of cards. Almost all of them would have a credit card apply online link that will inform you about all the benefits and features of that particular card. However, it will not give you any information about the different terminologies used in credit card bills and statements.

credit cards

Some of them are as follows:

Credit card rate: This signifies the interest rate being charged on your card.

  • Monthly payment: Denoting the monthly amount to be paid on the card, this is a certain percentage of the outstanding balance on the credit card.
  • Minimum payment: Same as the monthly payment, this is calculated on your current outstanding balance. This is the minimum amount that you can pay on your card to keep it out of default payment list. payment on credit card
  • Credit card balance: The current balance on your card.
  • Total payments: Being calculated on the outstanding balance, this implies the payments you need to make in order to clear your balance with the help of minimum payments.
  • Balance payoff: This clearly indicates the amount of time it will take you to pay off your balance with the help of minimum payments.

Among all these terms, one of the most intriguing and confusing ones is minimum payments and is also the most important for people who own credit cards.

Why should you always pay more than the minimum payment on credit cards?

Many people, who own credit cards, only pay the minimum payment every month in order to avoid late fees and other penalties. While it is easy to pay the minimum payment, it does cost a lot more in the long run. Some of the reasons for making payments more than the minimum due on credit cards are as follows:

  • Finance charges: In case you pay just the minimum payment on your credit card, then in the long run it will cost more on the interest rate. Also, you will incur different finance charges for not clearing the actual balance on the card. By paying more than the minimum payment, you lower the interest rate in your future payments.

Longer time period for balance payoff: It takes longer than usual to pay off your balance on your credit card if you only pay the minimum amount. In order to keep your credit cards in a flow, it is advisable to pay more than the minimum payment mentioned in the statement. This way you can use it at the time when it is needed more.

  • Your credit score: Only paying minimum payments will negatively affect your credit score. Minimum payments bring the balance down on your credit cards little by little, which eventually makes the balance higher than the limit on the card. This results in loosing some precious credit score points. If you pay more than the minimum payment on the monthly basis, your balance on the credit card will come down drastically, thereby increasing your credit score.
  • Loan on credit card: There are many banks that provide loans on credit cards. You will only be able to qualify for this facility when you start paying more than the minimum payment as your present debt needs to be cleared before you borrow more. lon on credit card
  • Your available credit: In order to keep your credit card accessible, it is imperative that you pay off more than the minimum payment. A fast decreasing balance ensures more available credit on your credit cards. As your card is useless without the available limit, it is essential to maintain a healthy and floating credit limit.

Credit cards are essential in a person’s life for many different reasons. There are places where only credit cards are accepted. Hence, it is always advisable to keep your card operational with better and prompt payments.

Apply for Student Credit Card

Standard

The credit card market in India is becoming bigger and better day by day. Every other day, some bank comes out with a brand new credit card scheme to allure customers. Basically, there are credit cards for all kinds of customers, depending upon their budget and lifestyle. A student credit card scheme, too, is becoming quite popular around the country due to the innumerable benefits it offers to the college going students. Student credit cards are usually offered to postgraduate students who meet the nominal eligibility requirements.student credit card

The best thing about these credit cards is that they come along with some friendly features like no income limit, lower rates of interest, no annual or joining fee and decent purchase limit. The joining formalities too are quite simple and you don’t have to file any kinds of IT return forms or employment forms to get your card. All you have to do is to apply for student credit card is submit your residence proof and enrollment proof issued by an educational institution.

There’s a proper procedure which is to be followed for acquiring a card. The student needs to first fill up the card application form and submitted online on the bank’s official website. Online banking has made everything much more convenient for students who are willing to apply for such a card. The parents/guardians of the student need to provide some guarantee for their debts. The student needs to submit passport sized photographs, student ID and residence proof along with the form to ensure a smooth approval process.

 Finding the Best Card

Always remember that not all the credit cards offer the same rewards to users. This is one of the reasons why you must spend some time researching for  Best credit card that could help you avail the maximum number of advantages. Once you find 2 or 3 reliable service providers, you must compare the reward programs being offered by them. You must also keep an eye on the rates of interest that different credit card companies are charging from you so that you could find a reliable scheme for yourself.

best credit card

 Go through the Terms

Even though credit cards for students come with hassle-free conditions, it is quite important for you to go through all the terms beforehand. You should see whether the norms mentioned in the papers are good enough for you or not. All the details regarding the card should be mentioned clearly in the agreement so that you don’t have to worry about the safety about your payments later on.

 Using the Card with Responsibility

Credit cards are exceptional financial tools that help you manage your expenses and build a strong budget. So, you should avoid over-spending and try to make only the purchases which are extremely important. By using the card responsibly, you will surely be able to enjoy its perks even more.

So, apply for a brand new student credit card and start handling your own college expenses without depending upon your family. These cards would definitely make shopping easier for you even when you’re not in your city.