Canara Bank Credit Card Offers

Canara Bank Credit Card Offers

Credit cards have become a way of life. We are spoilt for choices in the market for different types of credit cards. With so many credit card offers available, it has become an attractive option of payment for financial transactions. There are many credit card benefits that one can take advantage of. It is very much becoming an essential financial commodity in our loves.

Most leading credit card companies tie-up with lifestyle brands, merchandise partners, special privileges for dining, travel & hotels, movie tickets and cashback. Credit cards offer credit extension and thereby, help in managing our financial needs in the interim period.

Canara Bank Credit Card Offers by Categories

Canara Bank credit cards have a wide range of offers. These are some of the best credit card offers available in the market.

Travel & Hotels

Dining

Lifestyle

Health & Fitness

Other Credit Offers

Benefits of Canara Bank Credit Cards

Canara bank offers some of the best credit cards in the market. The benefits of their credit cards are:

1. No Annual Fees: Canara Bank does not charge its customers an annual fee for the credit card. This is a huge benefit in comparison to the other cards.

2. Revolving credit: Under this facility, there is an option to the pay the bill as per user’s convenience. The minimum amount due is calculated as 5% of the bill amount. The remaining amount can be carried forward along with the interest.

3.Advance cash: Cash withdrawal limit upto 50% of your card limit. The cash withdrawal charges is only Rs. 30 per thousand.

4. Free credit period: Canara Bank provides free credit period for 20-50 days for credit cardholders. No interest on cash withdrawal will be levied if the dues are paid within the due date. If the dues are not paid within the due date interest will be charged starting from the due date and not from the date of cash withdrawal.

5. Card Limit: Based on the gross annual income of the cardholder, the cardholder is eligible to get upto 30% of the gross annual income as the credit limit. This is decided at the sole discretion of the bank.

Frequently Asked Questions

1. How to apply for a credit card with Canara Bank?

To apply for a Canara Bank credit card, you must have a good credit history. The bank does a check on the name with the credit rating of CIBIL. A minimum gross annual income of Rs. 1lac is mandatory. An existing account with any branch of Canara bank is also compulsory. You can walk into any bank branch and submit an application for credit card if you meet the above criteria.

2. Where the Canara Credit Cards can be used?

There are many used for Canara bank credit cards. You can use it to make purchases at retail shops, restaurants, movies etc. You can make online purchases from e-commerce sites. The credit card can be used for making purchases through the IVRS system, mail order and telephone order. You can also use the card to make emergency cash withdrawals from ATMs.

3. What is the Credit period?

Credit period with Canara Bank ranges from 20 days to a maximum of 50 days.

4. How secure is my Canara Credit Card?

The security levels with Canara bank credit card is quite good. Any payments will be made only with the physical presence of the cardholder and the card. There is a charge slip that needs to be signed which acts as an authorization process. If you are using the card to make transactions on the internet or telephone, a second level authorization needs to be given with a password. This password is known only to the cardholder. Every transaction on the card is tracked by SMS alert to the registered mobile number of the cardholder.

5. What happens if my card dues are not paid by the due date?

As the card holder, it is important to pay up the dues within the given time period. In case, you are not able to do so, the credit card is blocked by the Bank. If you do not pay the dues consistently, your name gets referred to the credit rating agency who includes it in the name of offenders and does not allow you take any credit assistance from any financial institution in the future. Many a time, the Bank also takes a legal action against you to recover the dues which shows your financial strength in a poor light.

About Canara Bank

Canara Bank is a state-owned commercial bank with headquarters in Bangalore. It has a pan India presence with 6204 branches and 9395 ATMs. Internationally, the bank has 8 branches in London, Leicester, Hong Kong, Shanghai, Manama, Johannesburg, New York and DIFC (Dubai) & a Representative Office at Sharjah, UAE.The subsidiaries of the Bank include Canbank Financial Services Ltd, Canbank Venture Capital Fund Ltd, Canbank Factors Ltd, Canara Robecco Asset Management Company Ltd, Canbank Computer Services Ltd, Canara Bank Securities Ltd and Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. The bank offers a range of products and services catering to various segments of customers and also offers treasury operations, retail banking operations, wholesale banking operations and other banking operations.