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June 2022
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A Complete Guide To Credit Card Loan3/14/2022 Before understanding a Credit Card loan, it is wiser to gain an understanding of what credit cards are and how they can help you!
What are Credit Cards? A credit card is a financial tool in the form of a plastic or metal card using which you can make payments for the purchases made by you and can pay the amount later in full or over time as per your convenience. A small interest rate is charged on the amount spent using a credit card. Credit cards are super useful as they award the cardholders with reward points, redeemable for several items. They help you save as well. What is a Credit Card Loan? A loan against credit card is an already approved form of personal debt. For getting credit card loans, hefty paperwork is not required and you can get it sanctioned easily. It is a type of unsecured loan, I.e. you are not required to pledge anything as collateral with the bank for borrowing the funds. Features of a credit card loan: The following are the relevant characteristics of a credit card loan that will help you in getting a comparatively better understanding of loan against credit card:
Banks providing loans against credit cards: HDFC BANK
ICICI BANK
SBI BANK
Axis Bank
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