Credit card is a one of the most popular financial instruments. The ease and convenience of transacting through credit card is at whole another level. It allows users to take credit for goods and services. Credit card companies provide credit cards to individuals with the condition that the cardholders will pay back the borrowed money along with any interest and charges. It means that credit cards give you the advantage of paying later unlike debit cards where the money is deducted directly from the account.
The credit card industry is booming and many companies are looking forward to introduce credit cards to lure in customers. There are plenty of different credit cards available in the market for different categories of individuals based on their transactions.
After the launch of Apple Credit Card in US, India’s largest mobile wallet player Paytm launched their first credit card named first credit card. Paytm has partnered with Citi bank to bring out the card.
You can easily apply for a Paytm credit card through the Paytm app. You can also track offers through the Paytm First Card passbook.
If you have couple of credit cards lying in your wallet, getting another credit card won’t have a lot of difference. The benefits of this credit card is not tempting enough and one can easily find similar offers in other credit cards. One feature that sets apart the paytm credit card is the cash back of 1% on all transactions. However, if you don’t have a credit card and you are looking for a simple credit card with less frills and charges, you can opt for Paytm Credit card. These credit card is available for customers who have a paytm account. If you don’t have a Paytm account, you would have to create a paytm account before taking a paytm card.
To summarise, the credit market is heating up in India. It is no longer just banks that are playing in the credit card segment. Many non-banking entities such as Apple, Ola Money and Paytm have jumped in the bandwagon. In the already overcrowded market of credit cards, it needs to be seen who will emerge as a winner and who will lose out in this race.
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