Corporation Bank Credit Card – Check Features & Benefits

Welcome to our blog post about the Corporation Bank Credit Card! If you’re considering applying for a credit card with Corporation Bank, you’ve come to the right place. In this post, we’ll be discussing the various features and benefits of the Corporation Bank Credit Card, so you can make an informed decision about whether this is the right card for you. Whether you’re a frequent traveler, a shopping enthusiast, or just looking for a reliable credit card for everyday use, we’ll cover everything you need to know about the perks and advantages of using a Corporation Bank Credit Card.

Getting to Know Your Corporation Bank Credit Card

As a proud owner of a Corporation Bank credit card, it’s important to understand the features and benefits it offers. This will not only help you make the most of your card, but also maximize the value you receive from it.

Diving into the Features

For starters, your Corporation Bank credit card comes with a range of features designed to enhance your shopping and payment experience. These may include rewards programs, cashback offers, travel benefits, and more. You’ll also have access to convenient payment options, such as contactless payments and online account management. With these features at your fingertips, you can enjoy greater financial flexibility and security in your transactions.

For a closer look at the specific features of your card, be sure to review the terms and conditions provided by Corporation Bank. Understanding these features will empower you to use your credit card effectively and take advantage of all it has to offer.

Credit Card Eligibility Provided for LIC agents, LIC policy holders (Salaried, Self-employed, and HNC segment), and other LIC employees.
Main cardholder can extend privileges and share credit with family members through up to 3 add-on cards.
Credit Card Features and Benefits
Attractive benefits include earning more reward points, lower interest rates, credit shield, personal accident cover, etc.
General Features Free of cost with no Joining Fee, Annual Fee, or Renewal Fee.
Interest rate of 3% per month on both Gold and Platinum EMV credit cards.
Validity: LIC Corporation Bank Credit Cards are valid for 5 years.
Additional Security: Cards come with borrower’s photo and signature imprint.
Add-on Cards: Provision for add-on cards for all LIC Corporation Bank Credit Card holders.
Cash Withdrawal: Maximum 30% of the credit limit.
Interest-Free Credit: Period ranging from 15 days to 45 days for all cardholders.
Insurance/Cover: Personal Accident Insurance, Purchase Protection, Credit Shield, etc.
List of Credit Cards – LIC Corporation Bank Platinum EMV Credit Card
– LIC Corporation Bank Gold EMV Credit Card
Platinum EMV Credit Card Highlights – Joining Fee: Nil
– Annual Fee: Nil
– Interest-Free Credit Period: 15 to 45 days
– Reward Points: 1 for every Rs.150 spent
– Credit Shield: Up to Rs.50,000 in case of permanent disability
– Purchase Protection: Up to Rs.50,000 for up to 60 days
Gold EMV Credit Card Highlights – Joining Fee: Nil
– Annual Fee: Nil
– Interest-Free Credit Period: 15 to 45 days
– Personal Accident Insurance: Rs.1 lakh
– Purchase Protection: Up to Rs.50,000 for up to 60 days
– Credit Shield: Up to Rs.50,000 in case of permanent disability
– Reward Points: 1 for every Rs.150 spent
Charges and Interest Rates – Joining Fee, Annual Fee, Renewal Fee: Nil for both Platinum and International Credit Card
– Add-on Cards: 3 add-on cards. First add-on card free and next cards charged Rs. 200 each.
– Interest on Revolving Credit: Platinum – 3% per month, International – 2.25% to 2.50% per month.
– Cash Advance Limit: Platinum – 30% of Credit Limit, International – Not Available
– Over Limit Charges: Platinum – 2% of the over limit amount or a minimum of Rs. 250, International – 2.5% or Rs. 100.
– Standing Instruction Failure/Cheque Return Penalty: Rs. 250 for each failed transaction.

Unveiling the Benefits

For cardholders, the benefits of a Corporation Bank credit card go beyond just the features it offers. You may be entitled to perks such as complimentary insurance coverage, concierge services, exclusive merchant offers, and more. These benefits can add value to your everyday life and enrich your overall experience as a credit card user.

Unveiling these benefits can make you aware of the added value your card brings to the table. Whether it’s savings on travel expenses, enhanced shopping privileges, or peace of mind through insurance coverage, your Corporation Bank credit card has more to offer than meets the eye.

Rewards Program – Exclusive rewards program with double points for premium payments on LIC Policies.
– Accumulated rewards points can be used to settle outstanding dues.
– Cashback: Rs. 0.25 on Gold Credit Card, Rs. 0.50 on Platinum Credit Card.
– Corporation Bank International Credit Card offers rewards of one point per Rs. 200 spent on Classic, and Rs. 150 on Gold.

Choosing Your Perfect Card

Obviously, choosing the right credit card is essential to meet your financial needs and lifestyle. With a variety of options available, it’s important to consider the features and benefits that matter to you the most.

Tips for Selecting the Right Card for You

Card Make sure to consider your spending habits, lifestyle, and financial goals when choosing a credit card. Here are some tips to help you make the right decision:

  • Assess Your Spending Habits
  • Evaluate the Rewards and Benefits
  • Consider the Fees and Charges

Any ideal credit card for you should align with your financial needs and provide benefits that suit your lifestyle. Consider these factors and make an informed decision when selecting a Corporation Bank credit card.

Maximizing Your Card Usage

Despite having a Corporation Bank credit card, you may not be fully aware of all the features and benefits that come along with it. Maximizing your card usage is essential to fully exploit its potential. Here are some tips to make the most out of your credit card.

Rewards and Offers Explained

Any time you use your Corporation Bank credit card, you have the opportunity to earn rewards and avail various offers. Make sure to understand the rewards program and the different offers available to you. Whether it’s cashback, travel rewards, or discounts at partner merchants, knowing the details of these benefits can help you make the most of your card usage and save money in the process.

Managing Your Credit Effectively

Offers From keeping track of your spending to making timely payments, managing your credit effectively is crucial to make the most out of your Corporation Bank credit card. By staying within your credit limit and avoiding unnecessary interest charges, you can build a positive credit history and improve your credit score. Effectively managing your credit will also open up opportunities for better loan terms and higher credit limits in the future.

Need to Know

Understanding the Fine Print

The Corporation Bank Credit Card comes with a range of fees including annual fees, late payment fees, and over-limit fees. It’s important to carefully read the fine print to understand when these fees apply and how much they will cost you. By being aware of these details, you can take proactive steps to avoid unnecessary charges and keep your credit card costs manageable.

Avoiding Common Pitfalls

Any credit card user should be aware of common pitfalls that can lead to additional fees and charges. These may include overspending beyond your credit limit, overlooking payment due dates, and paying only the minimum amount due each month. By being mindful of these potential pitfalls, you can take steps to avoid them and keep your credit card expenses in check.

Need to take some time to review your credit card terms and conditions to understand the fees and charges.

Corporation Bank Credit Card – FAQ

Q: What are the features of Corporation Bank Credit Card?

A: The Corporation Bank Credit Card offers features such as low interest rates, exclusive rewards and benefits, secure online transactions, and a wide range of credit limits to suit your needs.

Q: What are the benefits of using Corporation Bank Credit Card?

A: By using the Corporation Bank Credit Card, you can enjoy perks such as cashback rewards, travel benefits, discounts on dining and shopping, access to airport lounges, and convenient payment options. Additionally, you can also build your credit history and improve your credit score by using the card responsibly.

Q: How can I apply for a Corporation Bank Credit Card?

A: You can apply for a Corporation Bank Credit Card by visiting the nearest branch, filling out an application form, and providing the necessary documents such as ID proof, address proof, and income proof. Alternatively, you can also apply online through the bank’s official website and track your application status conveniently.

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