- Credit Cards

Should you take a loan against your credit card?

Loans in India have become a standard feature today. Whether it’s a personal loan for renovating your house, a car loan to purchase your house or even a gold loan for emergencies, there is a loan for every problem.

Apart from loans, credit card too is very indispensable in today’s scenario. People require more cash than they hold in their accounts and with the use of the best credit cards they can fulfill all their wishes.

But did you know that apart from easy spending, you can also take a loan on it? Yes, there’s a facility where you can do so! For starters, credit card holders can get a pre approved loan from their bank (which is within their credit limit). Like personal loans, you will have to repay the loan amount back through monthly EMIs.

Here are some important features of taking a loan against your credit card.

  1. 1. Fastest documentation process:

Guess the best part of this loan process? It’s the documentation process. Since you already gave your documents to the Bank while applying for a credit card, so when you apply for a loan, there is hardly any paperwork that’s required. For those who want to know the list of documents;

  • Address proof, Passport size photographs, 3 months’ salary slips, latest ITR
  1. 2. Loan Eligibility Criteria

As credit cards are an unsecured loan and require no collateral, Banks will look at your eligibility and then will confirm a loan amount for you. The criteria will be very strict as you must have a good credit history in order to qualify for the best deal on this loan.

  1. 3. Interest Rates

Here’s the game changer. Interest Rates for a loan against credit card is very high. You can expect it to be in upward of 17 to 30%*. This rate can further increase on the basis of your credit history.


To conclude, we wish to tell you that getting a loan on your credit card is easy and very quick. You can keep this as one of the options while looking for a loan! If you wish to apply online credit cards, you can visit Ruloans where you can choose and compare credit cards. Get the best deals today – https://www.ruloans.com/credit-card.htm


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