Corporation Bank Credit Card | Eligibility | Documents | features | Information

Corporation bank Credit Card/Debit card – Cards of Corporation Bank with best features, Eligibility, Documents.

Types Of Cards: The Card comes in two types –  Gold (Interest rate at 2.25% p.m. i.e. 27% p.a.)   Classic (Interest rate at 2.50% p.m. i.e. 30% p.a.). Corporate Cards are also issued on a selective basis.

Photo Card: All Credit Cards issued by the Bank shall have the photo  of the cardholder and signature digitally imprinted on the Cards. This provides extra security at merchant establishments and is accepted   as a photo identity card.

Add-on Cards: Cardholders shall have the facility to present Add-on Cards to immediate family members – parents, spouse, children and siblings above the age of 18 years. The number of Add-on Cards per account is restricted to 3.

Bill Payment: Bills are drawn for Gold card on 26 th of every month (Payment due date is 15th of next month) and for Classic Card on 21st of every month (Payment due date is 5th of next month)

Free Credit Period: All cardholders shall have a free credit period up to a maximum of 50 days (Classic – 45 days and Gold – 50 days), provided the bill outstandings are paid in full.

Revolving Credit Facility: Flexibility in making the payments is available to the cardholder:

• Pay the total amount outstanding [entitles one for continuous Free Credit Period]

• Pay the Minimum Amount Due and carry forward the balance as revolving credit [Free Credit Period not available under this option] Interest shall be levied on the amount revolved into the next billing cycle by the cardholder from the date of purchase. Subsequent purchases made on the Card will also attract interest charges from the date of purchase till all out standings are cleared.

Cash Withdrawal Facility: Cash withdrawals are authorized by card Member using the secret PIN, issued by the Bank. Card Member may opt for Cash withdrawals at CorpBank ATMs or any VISA ATMs worldwide, up to the cash limit fixed on the Card. Transaction fees and interest for the period the amount is used will be charged to the Card account. In case of withdrawal from VISA ATMs, additional VISA charges of Rs. 50/- shall be levied. In addition to the conversion rates, Mark up charges are applicable, on withdrawals made abroad.

Pre-defined Credit Limits: Cardholders shall have the option to pre-define lower credit limits on their Card than what they are eligible for. Any transaction over the specified spend limit shall be declined. This facility will also be applicable to the Add-on Cards issued against the account. The pre-defined limits can be changed on request and will be effective from the next billing cycle.

Temporary Credit Limit Enhancement: Cardholders shall have the facility to temporarily increase their credit limit. Maximum enhancement can be up to 30% of the original credit limit. Original limit shall be restored to the card member at the start of the next billing cycle. This facility is available to cardholders only after 1 year of membership and based on credit history and Branch Manager’s recommendations. Limit enhancement charges apply.

ONE DAY LIMIT: Card Members desirous of using their cards exceeding One Day Limits fixed to the Merchant Establishments, may give requisite application to the Branch, well in advance, for a temporary waiver of One-day limit.

EMI Payment Options: The cardholder has the option to convert any single retail transaction on the Card above Rs. 2500/- into payment as EMIs in 6 or 12 or 24 monthly instalments. Interest rate for the amount will be a flat 12% p.a. The customer can opt for the same by sending an email/fax to the Credit Card division within 7 days of making the purchase. Maximum amount permitted under EMI is 50% of the Credit Card Limit. EMI conversion is possible only on the full value of the invoice. EMI conversion is not possible for transactions already covered in the bill.

Personal Accident Insurance Cover*: Primary Card Holders of Classic and Gold cards shall be eligible for Insurance cover for death due to accident. The cover shall be Rs.2.5 Lakh for Classic and Rs. 5 Lakh for Gold cardholders.

Purchase Protection*: All merchandise  of val lue Rs.5000 or more purchased through the Credit Cards shall be insured against damage or loss due to fire or theft. The value of the insurance cover will be Rs. 50,000/- with respect to both types of Cards and shall be valid for 1 year from the date of purchase.

Source: Corporation Bank Website