Canara Bank offers charge cards to take into account both the direct and liberal way of life. You can benefit of residential cards and in addition Global use cards according to your necessities. Pick between 6 cards to suit your way of life and reasonableness. In a relationship with VISA, Canara Bank introduces the Classic and Gold cards. In a relationship with Mastercard, Canara Bank shows the Classic, Gold and World card. It additionally issues a Corporate Credit Card intended to address the issues of the corporate organizations and its workers.
With your Canara Bank charge card, you can gain remunerate focuses as you spend. You additionally have simple access to money when you require. Get free mischance and stuff protection, and far superior rates on Mediclaim strategies. You likewise have the advantage of procurement insurance which secures you against false items and dealers.
Why choose Canara Bank Credit Card?
Canara Bank issues an assortment of cards intended to meet your prerequisites and thusly, requires next to no from you. To benefit of a Visa from Canara Bank, the base pay in Rs. 1 lakh for each annum. Get liberal credit limits, premium free periods and rotating credit offices, acquire compensate focuses as you go through and loans with your Canara Bank Visa.
Features and Benefits of Canara Bank Credit Card :
- Reward points: Get two points for every Rs. 100 you spend. Redeem your points at Rs. 0.25 per point.
- Special offer on Mediclaim insurance: M/s United India Insurance Company offers Mediclaim policies for Canara Bank credit cardholders at competitive premiums. Make payments for the premium with your credit card and get an interest-free period of 20-50 days.
- Complimentary Baggage Insurance: Get the peace of mind while you travel with complimentary insurance coverage against lost baggage for up to Rs. 25,000.
- Complimentary Accident Insurance: Receive complimentary insurance against accidental death for yourself and your spouse. The insurance coverage depends on the choice of your credit card.
- Cash Advance: Get cash when you need! With your Canara Bank credit card, you can withdraw up to 50% of your credit limit. A maximum of Rs. 50,000 can be withdrawn against your card account at a minimal fee.
- Add on cards: Extend the benefits of this credit card to your immediate family members. They should be at least 18 years old.
- Zero Annual Fees: Enjoy zero annual fees on all the Canara Bank credit cards. Only add on cards for corporate credit cards carry an annual fee of Rs. 400.
- Fuel surcharge waiver: Get a waiver on the 2.5% fuel surcharge if you use your card to buy petrol and petroleum products for Rs. 400 and above. You should spend at least Rs. 2,500 on petrol transactions in the billing month. Rs. 100 maximum will be reimbursed monthly.
- Internationally accepted: Canara Bank issues cards for domestic use. Global cards will be issued upon request. These cards are accepted around the world at merchant outlets and ATMs. You can get VISA or Mastercard credit cards. The credit cards can also be used on the Internet, IVRS, Mail order and Teleshopping.
- Purchase Protection: If the product or service you purchased is fraudulent, stolen and duplicate or damaged, you are protected against paying for it. Report the purchase to Canara Bank as soon as possible to be protected. The bank will not charge the amount to your credit card.
- SMS alerts: Canara Bank provides SMS alerts free of charge. Be up to date on your balance, billed amount, due dates and transactions.
- Interest-free period: Spend on your card and avail of 20 and 50 days credit periods to make the payment. Clear your bills in full every month to continue this interest-free cycle. Interest will be charged only when you carry forward a balance.
- Revolving credit: Pay your bills according to your convenience. The minimum due is calculated as 5% of the billed amount. This is subject to a minimum of Rs. 100 and must be paid by the due date. The remainder can be carried forward with interest.
- Credit limit: Get generous credit limits depending on your annual incomes. You can avail of 30% to 50% of your annual income. The maximum credit limit offered is Rs. 25 lakhs. The credit limits are determined at the sole discretion of Canara BankCard Division.
- No lost card liability: In case you lose your card, report it immediately to Canara Bank. Your liability will be limited to Rs. 1,000 after reporting.
Canara Bank Credit Card Charges and Interest:
| Charge | Classic/Standard | Gold | Secured | World | Corporate |
| Joining Fee | Nil | Rs. 250 for EMV chip and PIN card | Nil | Rs. 250 for EMV chip and PIN card | Rs. 250 for EMV chip and PIN card |
| Annual Fee | Nil | Nil | Nil | Nil | Rs. 400 |
| Supplementary Card | Nil | Nil | Nil | Nil | NA |
| Card inactivity | Rs. 400 if card turnover is less than Rs. 12000 during the year | Rs. 750 if card turnover is less than Rs. 25000 during the year | Rs. 300 if card turnover is less than Rs. 12000 during the year | Rs. 1000 if card turnover is less than Rs. 50000 during the year | NIL |
| Add on Card inactivity | Rs. 300 if card turnover is less than Rs. 12000 during the year | Rs. 750 if card turnover is less than Rs. 25000 during the year | NA | Rs. 1000 if card turnover is less than Rs. 50000 during the year | NA |
| Interest on revolving credit | 2.5% per month or 30% per annum + GST as applicable | ||||
| Minimum due | 5% of the billed amount, subject to Rs. 100 minimum | ||||
Canara Bank Credit Card Rewards:
Earn rewards while you spend. Collect 2 reward point for every Rs. 100 spent on your Canara Bank credit card. To register for reward points, you need to log into www.canararewardz.com and active your reward point account. Get your login credentials and then you can view and redeem your points. Earn even more rewards under the Maxgetmore rewards scheme.
Redemption:
Each reward point you earn is worth Rs. 0.25. You can redeem your points from an array of options that range across apparels, electronics and more. Get movie tickets and mobile or DTH recharge. You can also redeem your points at select merchant outlets.
Please note that disputed or canceled transactions, balance transfer, cash withdrawals, foreign currency transactions, interest and card charges are not eligible for reward points.
Canara Bank Credit Card Eligibility:
The eligibility criteria set by Canara Bank to avail of its credit cards differ from card to card. The following is the general criteria for all credit cards offered.
Domestic and Global Cards:
- You should have satisfactory dealings with Canara bank and the particular branch.
- Canara Bank account holders will get preference.
- You should have a PAN card.
- The minimum income required is Rs. 1 lakh per annum.
- A good credit history is required. Canara Bank will check your CIBIL score.
- You need to provide a valid mobile number to subscribe for the SMS alerts.
Corporate Card:
- Companies/Firms who have credit limits with Canara Bank with S1 and S2 status.
- Companies without credit limits, they should have 12 months of satisfactory dealings.
- Member affiliate banks are also eligible.
Canara Bank Credit Card Documents Required:
To complete the process of applying for a Canara Bank credit card, you need to submit the following documents.
- Passport size photo
- Copy of PAN card
- In case of NRI customers, the passport is required
- Income proof
- Form 16
- Latest Balance Sheet
- Salary certificate
- IT assessment order/Latest IT returns