A simple, intelligent, and transparent loaning application helps us track and manage our daily expenses, get cashback, discounts, and a superior customer experience. We can easily download the app and apply for a virtual card. After completing the online document verification and KYC process, we get the approval within a few minutes. Working professionals, freelancers, business owners, and even interns are eligible to get a credit card. Furthermore, It helps us gain insights into our spending habits with the passbook available on the platform.
A credit card app has unique features and lets us shop now and pay next month for anything. It enables financial freedom, better tracking of monthly spending, and provides an interest-free credit for up to one month. In addition, some options are available on the app to convert our utility bills into low-interest monthly installments.
Benefits Of Using A Virtual Credit Card:
- These cards are forever free with no annual fees, joining fees, and hidden charges.
- It gives a certain percentage of cashback and discount coupons on every online credit card
- We get some exciting offers on these cards when we shop on Amazon, Flipkart, Myntra, Zomato, Swiggy, MakeMyTrip, etc.
- It allows us to transfer money to our bank instantly or Paytm account from the credit card.
- Users get a credit line to make online payments on the best global shopping sites like Carrefour, Shopee, Ubuy, Walmart, etc.
Why Should We Use an Online Credit Card?
- Shop Online & Take Loans:
These platforms do not charge any interest or fees on sharing money or any online payment, and it has all the benefits of digital money transfer. Moreover, they allow us to take credit up to a specific limit and improve credit score.
- Help Your Friends:
Everyone faces a situation of liquidity shortage at some point. In that case, we can help a friend short on cash by sharing our credit card limit without giving card details to help them get back on their feet and save them from getting expensive short-term loans.
- Safety & Security:
Some leading security tools are available online to protect our credit or debit card details. They do not store our personal information, so there is no chance of hacking.
- UPI Payments:
Using a lending app, we can make quick and easy payments with just one tap within a few seconds. Additionally, it becomes straightforward to transfer money using BHIM UPI and requests UPI payments from everyone. We can also manage and monitor our family expenses using a single platform.
- Online Bill Payments:
Users can quickly recharge their prepaid phone numbers from multiple operators, including Airtel, Jio, Vodafone, and BSNL. They can also renew DTH services like Tata Sky, Airtel Digital TV, Videocon D2H and pay utility bills like electricity, water, broadband, etc.
Presently, there are many high-rated pay later apps available in India, and therefore, the online community available on the lending platform is entirely dependent on trust. They only approve selected users to use their application so that everyone has a great experience. These platforms mainly focus on hundreds of criteria, including the user’s behavior, credit history, and signals from app installation while onboarding them.