While the world economy suffered during most of 2022, one of the silver linings to this turbulent year remained in the area of credit cards. Several banks have been increasing approval parameters and slashing credit card limits.
Although banks still feature tighter regulations, they are still searching for high-earning individuals with lower risk. In this regard, many banks are using tempting rewards, like sign-up bonuses, to attract customers, owing to the festive season.
Considering this scenario, here are the reasons for you to apply for a Bank of Baroda credit card.
1. Gives you a holiday shopping advantage
In India, the months between September and December are filled with various festivals. Thus, many people tend to spend more during these months. If you indulge in festivities and like buying gifts for your friends and relatives, signing up for a credit card could be worth it.
The sign-up bonus on your card will allow you to capitalize on an intensive bonus for spending money over a specified period of time. You may get reward points for shopping from certain outlets.
2. Makes way for travel
If you are a travel enthusiast, this might be the best time to apply for a Bank of Baroda credit card. As you shop and earn more points and rewards, you can decide to spend them on new travel plans. Apart from that, some banks also offer exclusive travel benefits on credit cards. Not to mention, the premium airport lounge access is another enticing feature of a credit card with a sign-up bonus.
However, consider making grand travel plans only when you are sure about savings, as you would prefer to avoid carrying ahead your card balance.
3. Helps boost the credit score
Earning bonuses and cashback might be short-term benefits, but one of the long-term benefits of getting a credit card is that it can help you build your credit score. However, this would depend on whether you pay your balance on time or not. If you fail to make payments, your credit score might drop substantially. Note that a higher credit limit for your cards will boost your credit utilization ratio, indicating you as a creditworthy borrower. This will help you secure a loan with affordable terms in the future.
How to apply for a Bank of Baroda credit card?
If you wish to obtain a BoB credit card, you can visit the official website of the bank and follow these steps:
Step 1: Scroll down and check different credit card offers
Step 2: Click on apply now under the credit card you would like to choose
Step 3: Fill in the application form with all the necessary details
Step 4: Authenticate the application through the e-signature feature
Step 5: Complete verification
Upon following these steps, you will receive your credit card at the mentioned address within a few days.
After this, you may also view details pertaining to your card through the Bank of Baroda credit card login feature.
On the other hand, you can also apply for a credit card offline. You may do so by visiting the nearest branch of the Bank of Baroda. To apply offline, you simply need to get in touch with a bank representative and go through the application process as guided by him/her.
Getting a credit card during this season can help you yield exciting rewards and points. However, before you proceed to apply for a Bank of Baroda credit card, consider knowing about the terms and conditions. This will help you make an informed decision.