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IT D RE D C R A C
Presented by, Swati Zade Sarika Patil Ankita Chourasia Ruchika Solanke Yogesh Prathyani

What is Credit Card?

A credit card is a monetary instrument that enables the card holder to obtain goods and services without actual payment at the time of purchase.

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It is also popularly known as plastic money.

The value of purchases made by the cardholder using the card is recovered at the end of a specified period, usually a month, called the billing cycle.

It can be said that a credit is basically a PAY LATER card that is provided to a customer.

Benefits Of Credit Card

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Credit card can be availed for a period of 30-45 days.

A cardholder need not have the required amount in his account to the extent of the transaction made.

Regular use of credit card by the user earns him additional points that provides the cardholder with discounts on purchases.

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Bank of India provides certain types of credit card some of them are as follows:
1. 2. 3. 4. 5.

India card Taj premium card BOI Navy silver BOI Gold Gold Visa

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1.

BOI India Card

Bank of India IndiaCard is the most basic credit card and it is used by many people. The IndiaCard is also accepted in Nepal and it is MasterCard powered as well. It is basically a local credit card with a maximum cash withdrawal ofRs.5000 with 2.5% commission. It is a very standard credit card for every day use.

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2. Taj Premium Card

Banks and brands are actually coming together to create co-brand credit cards such as bank of India Taj premium card. The bank of India Taj Premium also gives you insurance service of up to 8,00,000 through their award program. It gives you rewards and free insurance.

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3. BOI Navy Silver card

The bank of India Navy Silver card requires that the card holder should have minimum income of 1,00,000 for both salaried and self employed and business person.

The card is actually made for navy personnel and it is not used by general public. It has policies made for navy personnel and only they are eligible for the card. BOI navy silver gives you a free credit period that is 21 days minimum and 51 maximum.

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4. BOI India Gold International Visa It is a very expensive credit card made for people who regularly travels outside the country.

The card is not just beneficial for business persons and individuals but it is also widely used by students to make payments of university/institute online as well as receive cash from other country.

The Visa card are identified by the Visa logo on the cards such as on BOI gold International Visa.

5. BOI Gold Visa

The BOI gold Visa is a very special kind of credit card that is usually used by people with moderate income and who belongs to middle class. The BOI gold Visa is actually a Visa supported card and it gives you the features to spend worldwide.

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The BOI gold Visa is also a corporate card which means that it can also be used by different companies and organizations to make purchases on company budget.

Types of credit card in axis bank:

1. 2. 3. 4. 5.

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Gold Titanium Silver Platinum Signature

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1. Benefits of gold card

Petrol surcharge refund card alert Transfer

E-Shop Mobile

Balance

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2. Benefits of Titanium credit cards

Travel benefit Balance transfer Cash advance facility Zero Loss credit card Cc limit

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3. Silver credit card

Plus Points Rewards.

With Axis Bank Credit Card, one earn 1 PlusPoint for every Rs. 100 spent on domestic transactions and 2 Plus Points for every Rs. 100 spent on international transactions.

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Global Acceptance v

Axis Bank Silver Credit Card helps you to be in control anywhere in the world. Free period

Interest v

up to 50 days free credit period on purchase transactions without any finance charge being levied to your card account

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4. Platinum credit card

Highest v

Level of Security

Axis Bank Platinum Credit Card membership presents with the Platinum Chip card. The Platinum Chip offers clear authentication of credit payments combined with easy fraud detection. The chip can not be duplicated, ruling out counterfeiting and skimming. This makes your card safer and secure than any other card in India.

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2.5% v

Savings on Fuel Spends

get a 2.5% Fuel Surcharge on all fuel transactions with your Axis Bank Platinum Credit card. The offer is valid across all petrol stations in India for a minimum transaction amount of Rs. 400 and a maximum of Rs. 4000*.

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CONCLUSION

The main difference between the credit card in Public sector bank and private sector bank is interest charges of private sector bank is more as compared to public sector bank.

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