Most of us have become used to the idea of credit cards by now, whether because we’ve already used one or know someone who has. Of course, not all cards are the same. There are various types of credit cards offering different benefits, either in terms of lower interest rates or deals, rewards, and benefits.

What’s so different about MoneyTap’s credit card 2.0? Unlike other cards, this one is linked to an app-based personal line of credit, which means it can work as a credit card or even a personal loan in times of need!

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Here are some advantages of credit cards by MoneyTap that set them apart from regular credit cards:

  • Approval Depends on Many Factors – Most credit cards are approved or declined based on the applicant’s CIBIL score or credit score alone. MoneyTap looks at more than just your credit history when you apply for a line of credit through the app. As a salaried or self-employed individual with a minimum regular income, you may be approved even with a poor credit score.
  • Your Card is Linked to Your Loan – When you apply for a credit card with MoneyTap, you are given a credit limit of up to ₹5 lakh after approval. This credit limit is linked to your MoneyTap credit card, which can be swiped in stores or used online the same way as a regular credit card. However, you can also take quick loans against this limit, anytime and anywhere.
  • Cash Withdrawals Are Affordable – With a basic credit card, you are charged a higher interest rate for withdrawing cash, and you can only withdraw a certain percentage of your credit limit. MoneyTap allows you to transfer anywhere from ₹3,000 up to your entire available limit to your bank account. Withdraw these funds with a debit card or cheque no extra charge.
  • Easily Convert Each Spend to EMIs – Whether you use your MoneyTap credit card for purchases and bill payments, or transfer money to your account from your personal line of credit, every spend can be converted into EMIs with just a tap on your smartphone screen. You can also pay more than your chosen EMI amount at any time without any prepayment penalties or fees.
  • You Can Repay with Flexible EMIs – Repaying your MoneyTap credit card and personal line of credit is both convenient and flexible since it’s designed to work for your unique needs. You can use the EMI calculator to compare interest rates for different repayment options, choose a repayment term ranging from 2 months to 3 years and select EMI amounts that suit your budget.

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Like other credit cards, MoneyTap’s credit card 2.0 is basically a revolving line of credit, so any repayments you make will top up the credit available for use. It also comes loaded with extra benefits, such as rewards on fuel purchases, entertainment and dining, and more.

But, as discussed above, it’s far more than just another credit card. Download the MoneyTap online loan app to experience the difference today!

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