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How to get loan on credit card

  • Highlights

  • Ensure you have a good credit score for a credit card loan

  • Submit an application form at your issuer’ branch/website

  • SuperCard offers a 90-day interest-free emergency loan

  • Apply from anywhere at any time via the RBL MyCard App

Apart from allowing you to make purchases outright and pay later, a credit card also comes in handy during emergencies when you need quick funds. This is because, with a credit card, you can avail a pre-approved credit card loan that is usually equal to your credit limit.



How does a credit card loan work?

Also known as a loan against credit card, a credit card loan works just like a personal loan, though it has certain differences in terms of repayment tenor and interest rates. The first factor you need to keep in mind is eligibility. The issuer requires you to have a good credit score and history as this shows that you are a creditworthy borrower and will repay the loan without any default.

Further, since a credit card loan is unsecured, you don’t have to pledge collateral to avail it. However, this type of credit is easier and quicker to obtain as it involves no or minimal documentation, depending on your issuer. Once you avail the credit card loan, you repay the sum along with interest as you do in case of a personal loan.

For instance, when you avail a Bajaj Finserv RBL Bank SuperCard, one of the most rewarding credit cards in India, you can get a pre-approved loan that you can use when in need. Thus, you don’t have to submit any documents. What’s more, this attractive credit card doesn’t charge any interest on this credit card loan for up to 90 days. All you need to pay is a flat 2.5% processing fees and that’s all!

Now that you know that you can use a personal loan on credit card to leverage your finances, take a look at how to avail it.

Shopping online made easy with the SuperCard

How to get loan on credit card

Applying for a credit card loan is simple and you can initiate the process in one of the following ways.

 
  • Visit your issuer’s nearest branch and submit the application form and additional documents, if required

  • Visit the issuer’s website and apply for the credit card loan from your account

Fortunately, with the Bajaj Finserv RBL Bank SuperCard, you don’t have to undergo any hassles, be it visiting the branch or applying for a credit card loan on the website. Here, you can avail a personal loan on credit card from anywhere, at any time, through the RBL MyCard App.

Since the issuer assigns you a pre-approved credit limit, you can avail a loan easily by converting this limit into a 90-days interest-free personal loan. After your interest period, you can repay the borrowed sum in the form of 3 easy EMIs.

Besides offering an easy and instant loan on credit card, the SuperCard also has other features as follows.

 
  • Up to 20,000 reward points as joining bonus

  • 50-days interest-free ATM withdrawals

  • Annual savings up to Rs.55,000

  • Discounts and EMI financing on purchasing accessories, clothes, and groceries from Bajaj Finserv partner stores

  • 5% cashback on making a down payment at Bajaj Finserv EMI Network partner stores using reward points

  • Reward points on achieving milestones

  • Discount on movie tickets each month

  • Security features like in-hand security and zero-fraud liability cover

  • Excellent reward points for every spend

If you don’t have a SuperCard yet and wish to avail one, be sure to check your pre-approved offer to view a customised deal and apply via the same. Once approved, you are ready to use the SuperCard and enjoy greater financial freedom, be it a credit card loan, easy ATM cash withdrawal as well as a range of perks.

 

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