What Is a Credit Card? How to Apply for Credit Card using Bajaj Finserv Experia App

A credit card is a privilege, not a right!’ These are some of the most common sayings that are associated with these cards. These cards have been around for 70 years now. In fact, the first-ever card was made in 1950 by Ralph Schneider and Frank McNamara who founded Diners Club. This was the first general-purpose charge card, but it required consumers to pay each month’s statement balance in full.

Seventy years later, these cards are everywhere and used by everyone. Every financial institution under the sun is issuing these cards, even personal loan apps! But how much do we all understand them? 

What are credit cards?

A credit card is a plastic card issued by financial institutions, which lets you borrow funds to pay for your purchases. There is generally a limit that is placed on your card. This limit is decided by the institution issuing the card based on your credit score and history. Generally, the higher the score and better the record, the higher is the limit. The lender will set a monthly date where you will be expected to make the payment for your statement.

What is the difference between a Credit and a Debit Card?

The critical difference between a credit card and debit card is that when you swipe a debit card, the money gets deducted from your bank account; whereas, in case of a credit card, the money is taken from your pre-approved limit. This means that in a debit card you will have to have cash in your account already. If you don’t have money in your account, then you will not be able to pay using your debit card. A credit card, on the other hand, works on credit.

How do you use a credit card?

Much like a debit card, users can swipe the credit card to make a payment or use it for online transactions. After you apply for a credit card, simply make sure that the borrowed amount is repaid within the stipulated time frame to avoid penalty charges. Credit card companies are famous for having these notoriously high penalties for default or late payments. Make sure to not share your PIN or card with people you don’t know. Your credit card details are always secured with the card issuer, and you should not share your credit card information with anyone to avoid fraud.

How to Apply for Credit Card using Bajaj Finserv Experia App

Bajaj Finserv has an app that can be downloaded on both the Google Play store as well as the Apple App Store. Through this app, you can apply for a credit card online free of cost. Here are the steps that need to be followed to apply for an online credit card.

  1. Go to the App Store and Download the Bajaj Finserv Experia App
  2. Once it is installed, set up the app by giving it all the necessary permissions and also choose your desired language. Complete the OTP verification process
  3. Find the credit card option in the menu and click on it. Once you enter this page, you will be prompted to fill in some of your details.
  4. Put them in and upload all the required documents in the credit card app
  5. Click next and complete your online KYC verification process. Once all the necessary steps are done, you can apply for a credit card. The verification team will perform a detailed investigation into your credit history, and based on that, and you will be given a cash and credit limit.
  6. Depending on the card you become eligible for, you will be asked to make an account opening deposit, you usually can speak to the lender and these charges will be waived.
  7. In 7 to 10 business days, the lender will ensure that the card is physically delivered to you


Applying for a card is a simple task that can be done very quickly using the Bajaj Finserv Experia App. Using these simple steps, you too can be the proud owner of a Bajaj Finserv Card.

About Ashish Singh

I am a blogger and writer too. I love to write on business, finance, lifestyle, digital marketing, and technology.

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