Types of Canara Banks Credit Cards:
- VISA Credit Cards
- Classic Credit card
- Gold Credit Card
- Master Credit Cards
- Standard credit card
- Gold credit card
- World credit card
- Corporate Credit Card
- Visa credit card
A. Classic Credit card
This is a basic level credit card offered with standard facilities to meet the moderate life style needs of a customer. The salient features of a Visa Classic credit card are
- Available to resident individuals with minimum annual income as Rs 1 lacs.
- The minimum card limit offered is Rs 10,000, however may be proportionately enhanced as per income of customer as maximum 30% of the annual income or Rs 3 lakhs whichever is higher.
- Zero enrollment charges
- Free credit period up to 50 days
- Minimum payment due is 5 % of the net bill amount.
- Cash advance limit is 50% 0f the net credit limit.
- Cash withdrawal facilities available at all canara bank ATMs.
- 2 reward points on every Rs.100 spent. Each reward point carries a value of Rs. 0.25.
- Free insurance cover against all risk of death due to accident, loss of baggage while travelling and the liability occurred due to loss of card.
- The sum insured for accidental death in air crash is Rs. 4 lakhs and 2 lakhs for self and spouse respectively.
- For accidental death due to other reasons, the sum insured is Rs. 2 lakhs and 1 lakh for self and spouse respectively.
- The billing date is 20th of every month and the payment due date is 10th of next month.
B. Gold Credit Card
This a premium class credit card offered to high end customer who wants to enjoy best in class services and luxurious lifestyle needs.
The key features of Visa Gold Credit card are
- Enhanced security features with integrated EMV chip and are PIN enabled card to meet the international security standards.
- One time issuance charges of Rs 250.00 plus service tax.
- The card is offered to resident individuals with minimum annual income of Rs. 2 lakhs.
- The default card limit is 50% of the annual income, subject to discretion of the bank.
- Nil enrollment fees.
- Free credit period of up to 50 days.
- Minimum payment due is 5% of the net bill amount.
- Cash advance limit is 50% of the net credit limit.
- Cash withdrawal facilities available at all Canara Bank ATMs.
- 2 reward points on every Rs. 100 spent. Each reward point carries a value of Rs. 0.25.
- Free insurance cover against all risk of death due to accident, loss of baggage while travelling and the liability occurred due to loss of card.
- The sum insured for accidental death in air crash is Rs. 8 lakhs and Rs. 4 lakhs for self and spouse respectively.
- For accidental death due to other reasons, the sum insured is 4 lakhs and 2 lakhs for self and spouse respectively.
The billing date is on the 20th of every month and the payment due date is 10th of next month.
- Master card Credit Cards
A. Master Card Standard Credit card
The Key features of Master Card standard cards are
- Available to resident individuals with minimum annual income as Rs 1 lacs.
- The minimum card limit offered is Rs 10,000/-,however may be proportionately enhanced as per income of customer as maximum 30% of the annual income or Rs 3 lakhs whichever is higher.
- Zero enrollment charges
- Free credit period up to 50 days
- Minimum payment due is 5 % of the net bill amount.
- Cash advance limit is 50% of the net credit limit.
- Cash withdrawal facilities are available at all Canara Bank ATMs.
- 2 reward points on every Rs. 100 spent. Each reward point carries a value of Rs. 0.25.
- Free insurance cover against all risk of death due to accident, loss of baggage while travelling and any liabilities that occurred due to loss of the credit card.
- The sum insured for accidental death in air crash is Rs. 4 lakhs and Rs. 2 lakhs for self and spouse respectively.
- For accidental death due to other reasons, the sum insured is Rs. 2 lakhs and Rs. 1 lakhs for self and spouse respectively.
- The billing date is last calendar date of every month and the payment due date is 20th of next month.
B. Master card Gold Credit Card
This a premium class credit card offered to high end customer who wants to enjoy best in class services and luxurious lifestyle needs.
The key features of Visa Gold Credit card are
- Enhanced security features with integrated EMV chip and are PIN enabled card to meet the international security standard.
- One time issuance charges of Rs 250.00 plus service tax.
- The card is offered to resident individuals with minimum annual income of Rs. 2 lacs.
- The by default card limit is 50% of the annual income, however subject to discretion of the bank.
- Nil enrollment fees.
- Free credit period up to 50 days
- Minimum payment due is 5 % of the net bill amount.
- Cash advance limit is 50% o0f the net credit limit.
- Cash withdrawal facilities available at all canara bank ATMs.
- 2 reward points on every Rs. 100 spend. Each reward point carries a value of Rs. 0.25.
- Free insurance cover against all risk of death due to accident, loss of baggage while travelling and the liability occurred due to loss of card.
- The sum insured for accidental death in air crash is Rs. 8 lakhs and 4 lakhs for self and spouse respectively.
- For accidental death due to other reasons, the sum insured is 4 lakhs and 2 lakhs for self and spouse respectively.
- The billing date is Last calendar date of every month and the payment due date is 20th of next month.
C. Master card Global Credit Card
A high end credit card issued on specific request with global usage and rich in class experience.
The card carries enhanced security features with integrated EMV chip and is PIN enabled to meet international security standards.
Option for add-on credit card available on request of existing Canara Bank Credit Card holder for immediate close relatives.
Other features are at par with the Gold credit card.
- Corporate Credit Card
- The corporate credit card is designed to meet the lifestyle needs of the Non Individual corporate patron such as public sector undertakings, partnership firms, chartered accountant firms, Public or private companies.
- Separate card is issued to domestic usage and global usage.
- The card is issued primarily to corporate who is existing customer to Canara Bank with credit limits sanctioned as S1 and S2 status.
- For Companies which doesn’t have any relationship with canara bank, the card is issued on the discretion of bank and proven track record.
- Board Resolution in Bank’s format is mandatory for Pvt. Ltd or Public Ltd. Companies.
- Apart from BR, company’s formation documents such as MOA/ AOA etc are also required.
- The limit sanctioned on the card is a consolidated limit which can be duly shared amongst the add-on card holders.
- The limit per card can be in multiples of 5000, whereas the minimum limit is Rs 50,000/- and maximum Rs 100 lakhs.
- The billing date is 20th of every month and the payment due date is 10th date of the succeeding month.
- One single bill is created and it is in the company’s name.