Canara Bank Visa Classic/MasterCard Standard Credit Card

Canara Bank, a renowned and reliable Indian bank, extends excellent credit card services. Among its offerings is the Canara Bank Visa Classic/MasterCard Standard Credit Card. With two variants, Visa Classic and MasterCard Standard, both share identical features. Boasting zero annual fees, it’s the preferred choice for many embarking on their credit journey, offering a fundamental, lifelong free card option.

Key Highlights of Canara Bank Visa Classic/MasterCard Standard Credit Card

Unlock unparalleled benefits with the Canara Bank Visa Classic/MasterCard Standard Credit Card.

  1. No annual fees – enjoy a lifetime free credit card.
  2. Earn 2 Reward Points for every Rs. 100 spent.
  3. Receive complimentary air accident insurance coverage.
  4. Enjoy a 2.5% fuel surcharge waiver on all fuel transactions.
  5. Benefit from a lower monthly interest rate of 2.5%.

Features and Benefits of Canara Bank Visa Classic/MasterCard Standard Credit Card

The Canara Bank Visa Classic/MasterCard Standard Credit Card offers several features and benefits:

1. Reward Points:

  • Activate the scheme to earn 2 points for every Rs. 100 spent.
  • Redeem points later at Rs. 0.25 per point.

2. Cash Advance:

  • Withdraw up to 50% of the credit limit, max Rs. 50,000.
  • 3% fee at Canara Bank ATMs, or Rs. 30 per Rs. 1000 elsewhere.

3. Zero Annual Fees:

  • No entrance or annual fees for VISA Classic / MASTERCARD Standard.

4. Add-on Cards:

  • Free add-on cards for family members above 18.

5. Complimentary Insurance:

  • Accidental death coverage, lost baggage, and purchase protection.

6. Baggage Insurance:

  • Coverage up to Rs. 25,000 for lost baggage.

7. Mediclaim Insurance:

  • Competitive rates for cardholders with an interest-free period.

8. Fuel Surcharge Waiver:

  • 2.5% surcharge waived on Rs. 400+ petrol purchases.
  • Card usage of at least Rs. 2,500 on petrol transactions.

9. International Acceptance:

  • Global acceptance with MasterCard and VISA.

10. Credit Limit:

  • Minimum Rs. 10,000, maximum based on annual income (up to Rs. 3 lakhs).

11. Interest-Free Period:

  • Enjoy 20-50 days credit period for payments.

12. Revolving Credit:

  • Minimum payment due: 5% of the billed amount or Rs. 100.
  • Remaining balance carries forward with applicable interest.

13. Purchase Protection:

  • Coverage up to Rs. 25,000 against fraudulent products or services.

14. SMS Alerts:

  • Free SMS alerts for transaction notifications and fraud prevention.

Canara Bank Visa Classic/MasterCard Standard Credit Card Fees and Charges

Explore the fee structure for the Canara Bank Visa Classic/MasterCard Standard Credit Card and discover the financial advantages that come with it.

  1. No lifetime fee: The Canara Bank Visa Classic/MasterCard Standard Credit Card is exempt from joining and annual charges, making it a lifetime-free card.
  2. Interest rate: The card carries an interest rate of 2.5% per month or 30% per annum on the outstanding balance.
  3. Foreign currency markup fee: For transactions in foreign currency, the card incurs a markup fee of 3% on the total amount.
  4. Cash advance fee: When withdrawing cash from Canara Bank ATMs, a fee of 3% of the withdrawn amount (minimum Rs. 30) applies. Different fees may apply for withdrawals from other banks’ ATMs.

Eligibility Criteria for Canara Bank Visa Classic/MasterCard Standard Credit Card

Here are essential criteria for applying for an Canara Bank Visa Classic/MasterCard Standard Credit Card:

  1. Applicant must be at least 18 years old.
  2. Stable income required: Salaried or self-employed.
  3. Positive credit history is essential for eligibility.

Documents Required for Canara Bank Visa Classic/MasterCard Standard Credit Card

To apply for the Canara Bank Visa Classic/MasterCard Standard Credit Card, you will typically need to provide the following documents:

  1. PAN Card required for application.
  2. Identity Proof options: Aadhar Card, Voters’ ID, Passport, or Driving License.
  3. Address Proof choices: Aadhar Card, recent utility bills, Passport, etc.
  4. Proof of Income options: Latest bank statements, salary slips, or audited ITR.

How to apply for Canara Bank Visa Classic/MasterCard Standard Credit Card?

Follow these steps to apply for the Canara Bank Visa Classic/MasterCard Standard Credit Card:

  1. Canara Bank offers diverse options for credit card application.
  2. Visit the nearest branch, complete a physical application form, and submit required documents.
  3. Alternatively, download the form from the official website, fill it at your convenience, and submit it along with documents at the branch.

FAQs:

1. What is the Canara Bank Visa Classic/MasterCard Standard Credit Card?

  • The Canara Bank Visa Classic/MasterCard Standard Credit Card is a basic credit card offered by Canara Bank that provides users with a range of benefits and features for their everyday spending needs.

2. How can I apply for the Canara Bank Visa Classic/MasterCard Standard Credit Card?

  • You can apply for the card by visiting the official Canara Bank website or by visiting your nearest Canara Bank branch. The application process typically involves filling out a form, providing necessary documents, and meeting the eligibility criteria.

3. What are the eligibility criteria for the Canara Bank Visa Classic/MasterCard Standard Credit Card?

  • Eligibility criteria may vary, but generally, applicants need to meet certain age requirements, have a stable income, and possess a good credit history. It’s advisable to check with Canara Bank for specific eligibility details.

4. What are the credit limits available with this credit card?

  • Credit limits are determined based on various factors, including your income, credit history, and other financial obligations. The bank will assess your application and provide a suitable credit limit accordingly.

5. What are the annual fees and other charges associated with the card?

  • Details regarding annual fees, interest rates, and other charges can be obtained from the Canara Bank website or by contacting the customer service helpline. These charges may vary, and it’s important to be aware of them before applying.

6. What are the key features of the Canara Bank Visa Classic/MasterCard Standard Credit Card?

  • The card may offer features such as cash withdrawal facilities, reward points on transactions, discounts on partner merchants, and more. Refer to the terms and conditions for a comprehensive list of features.

7. How can I check my Canara Bank Visa Classic/MasterCard Standard Credit Card balance?

  • You can check your credit card balance through Canara Bank’s online banking portal, mobile app, or by contacting the customer service helpline. Monthly statements are also sent to the registered email address.

8. Are there any rewards or cashback programs associated with this credit card?

  • Yes, the Canara Bank Visa Classic/MasterCard Standard Credit Card may offer rewards or cashback programs. These rewards could include points that can be redeemed for various benefits. Check the specific terms and conditions for details.

9. How can I report a lost or stolen Canara Bank Visa Classic/MasterCard Standard Credit Card?

  • In case of a lost or stolen card, it is crucial to immediately contact the Canara Bank customer service helpline and report the incident. They will guide you through the process of blocking the card and issuing a replacement.

10. How can I make payments on my Canara Bank Visa Classic/MasterCard Standard Credit Card?

  • Payments can be made through various channels, including online banking, mobile banking, at Canara Bank branches, or through automatic payment setups. Ensure timely payments to avoid late fees and interest charges.