Hdfc is one of the most prominent financial institutions, which is engaged in offering best suited solutions for individuals like credit card, loan products and so on. As per the standard norms and regulations, it is not necessarily that an individual must have an account with the respective bank to apply for the credit cards in India. It is true that some of the special privileges and benefits are offered with the various types of credit cards for those individuals who hold a separate account with the bank. In a radical shift from its conventional practice, hdfc bank is now offering credit card to those individuals who are outside of its current base of clientele. With this approach, banks can increase their business and promote their products and brands on a wide basis. Hdfc credit card is one of the best deals that are designed with exclusive features and can be availed easily with quick process.
Following are the features of these credit cards in India:
• Credit limit
• Balance
• Annual percentage rate
• Grace period• Finance charge
• Incentives and rewards
Every credit card has some specified credit limit as per the eligibility of an individual. The balance on your credit card at any given time is the total of your purchases, finance charges, and credit card fees. It is completely your call how to pay it back. Annual percentage rate or APR is the interest rate applied on the balance that is carried beyond the grace period. Now, we come to grace period, which is a period in which cardholder is required to pay off the debt before any finance charge hits you. Finance charge is the cist for carrying over the balance in next bill cycle. With some cards, you get credit card rewards and incentives for using them.
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