Credit Card for NRIs

#1
Hi Guys

Is it possible for NRIs to get credit card from Indian banks? I am in working in Singapore and just that I am bit hesitant to get a credit card here. Is it possible for banks based in India to issue credit cards to people working overseas? I did have a credit card issued by HDFC bank when I was employed in India earlier. I closed it before leaving from India though.

I would be coming to India in early November and if it is indeed possible to get one, I would go for it. Any thoughts, guys?
 

San Yad

Active member
#2
Hi Guys

Is it possible for NRIs to get credit card from Indian banks? I am in working in Singapore and just that I am bit hesitant to get a credit card here. Is it possible for banks based in India to issue credit cards to people working overseas? I did have a credit card issued by HDFC bank when I was employed in India earlier. I closed it before leaving from India though.

I would be coming to India in early November and if it is indeed possible to get one, I would go for it. Any thoughts, guys?
Normally when you open your NRE/NRO accounts in any bank they offer you credit cards. If not then you can ask them to get one.

Happy Investing!
 

vvivek

New member
#4
Mostly, the eligibility criteria is resident individual with income proof.

Nevertheless, you could apply for a credit card on your parents name in India and take an add-on card on your name.

Or better still, you can take credit card against lien mark on your fixed deposit (FD). In this case, even if you are an NRI, you will get a credit card.

But, be advised, that credit cards of Indian origin used in foreign countries attracts various transaction charges in the range of 2-4%. If you roll over your balance, another 3-4% finance charge will be levied i.e. a total of around 6-8% charges.

Better avoid credit cards.
 
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