Every bank is providing credit cards to its customers on the basis of their eligibility. That is, if we talk clearly, the credit card is given by the banks after determining the credit limit on the basis of the person’s credit score, credit history, and income. Let us talk in this article about what are the advantages and disadvantages of SBI Credit Card , because most of the people do not know about the advantages and disadvantages of SBI Credit Card , perhaps you will also be one of them. So without any delay, what are the benefits of SBI Credit Card and along with it, what are the disadvantages of SBI Credit Card.
Benefits of SBI Credit Card
SBI credit card can be used in emergency if there is no money nearby.
SBI credit card holder can fulfill his needs through this card.
After getting SBI credit card, there is no need to ask for loan from any other person.
30 to 55 days are given to pay the SBI credit card bill.
Many offers are also available on online shopping sites for SBI credit card users.
Payment made through SBI Credit Card can also be converted into EMI.
SBI credit card helps a lot in increasing the civil score.
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With the help of SBI credit card, electronic goods can be purchased at no cost EMI.
Term insurance or accidental death cover is also available through SBI credit card.
On using SBI Credit Card, one can also avail the benefits of Rewards, Points, Gift Cards, Discounts, Cashback etc.
Disadvantages of SBI Credit Card
A credit card holder can spend money only up to his credit limit, and the bill has to be paid on time.
Not paying credit card bills on time can result in high interest rates and hidden charges, and can also damage your civil score.
If the credit card bill is not paid on time, the credit score gets spoiled and there may be difficulty in taking loan in future.
For credit cards, some fees have to be paid every month or year, and if the credit card bill is paid late, the bank charges a heavy penalty.