In the recent past, payments through online modes have offered consumers a new frontier to pay for services. Online credit card payment may just be taking off, but it will soon become ubiquitous. With quick and convenient application processes online, you can get a really good credit card like the Bajaj Finserv RBL Bank SuperCard.
In fact, goods and services become more affordable when you use your credit card. If you have a regular source of income, a credit card is a boon, coming in handy for emergencies. When you shop online with a credit card — as many Indians do on a daily basis, you have many options to enhance your shopping experience.
Online Payment
Nowadays, there are several ways to pay for services online. You can use several ‘wallets’ available, and other means like PayPal and net banking which extend greater convenience. Everyone is on the online payment bandwagon as there is a demand for these services, not just in India, but worldwide.
Despite this surge in the choices consumers have to pay with, credit cards are used extensively. Many card issuers now offer what is called a ‘free credit card’ and as much as the term can be misleading, it simply implies a credit card for which the annual or joining fees may be waived off, depending on certain conditions that you must fulfil. These conditions may be that you have to spend a certain amount online. Nevertheless, when you make online payments with your credit card, there are certain facts that you should be aware of.
How Well Do You Know Credit Card Facts?
Credit card use is great for online shopping. However, we often use it blindly without considering some aspects when we use online credit card payment options. Here are 5 facts you should know before using your credit card for online payments.
- Paying on EMI – Most people use a credit card for online purchases when they want to buy expensive goods on EMI. This makes flagship products affordable for most people. However, an EMI option is actually a loan you are taking from a credit card company. When you purchase goods online and fill in your credit card details, you will be charged an interest rate. While purchasing goods online, you have to check whether certain products are available on No Cost EMI. Interest, if charged, may be high, depending on the card or the product.
- Online Offers – While making a credit card payment online, you may be eligible for certain offers tied to card use. Therefore, when you are in the process of making a payment online, a list shows up, depending on the brand and the credit card. You should check these, and if you have more than a single credit card, use the card which has the best offer linked to it.
- Security Features – When you make an online credit card payment, you are required to enter your CVV number and your credit card number. After this, you get an OTP on your registered mobile number. This is a security feature that indicates your identity as the verified cardholder. This OTP has to be entered to conclude your purchase.
- Rapid Process – Online credit card payments can be done from anywhere through wallets, net banking portals etc. You can use your smartphone to make the payment.
- Payment Gateway Issues – While you are paying online, at times, the merchant may not receive payment because of a payment gateway problem. In such cases, although funds are debited, merchants do not receive them. This isn’t a cause for concern as the money gets credited back into your account with transactions being reversed.
Making Life Easy
A credit card that makes your shopping easy is the Bajaj Finserv RBL Bank SuperCard. You get great offers when you use it online and it serves the purpose of an EMI, loan, cash and credit card all rolled into one. You can use the credit card to withdraw money from an ATM or to avail a loan. You can apply for this credit card online in a few simple steps.
