Credit card applications in India have evolved over time. Apart from adding to the basic functionality of credit cards, they have ushered in various other trends. These changes make credit card usage even more practical and sustainable. From the convenience of applying for a card online to making cash withdrawals, you enjoy a plethora of benefits.

By understanding the current industry trends on credit cards, you can shape it to your advantage. This can improve your financial management according to your current requirements.

Top Credit Card Trends 

With new-age financial requirements, issuers have come up with improved technologies and solutions to provide you with an enhanced experience. These are a few developments that will add value to your credit card usage.

• Near Field Communication (NFC) Technology: Contactless payments using NFC technology is the most preferred way of making payments currently. Tap-and-go transactions are a quick and safe method while providing convenience.  
• Tailored for Your Need: Credit card providers are adopting AI to provide personalised cards that will cater to your needs. After understanding your spending habits, the issuer will be able to offer rewards and benefits that are unique to you. Apart from this, AI can recognise unusual spending and protect you from fraudulent activities. 
• Eco-Friendly Cards: Some credit card issuers are giving you sustainable cards made with recycled materials, to make you aware of environmental issues.
• Virtual Credit Cards: Digital-first credit cards are managed entirely through mobile apps. Virtual credit cards don’t have a physical version, and their features ensure they’re very safe for online transactions. 
• Use of Wearable Devices: Smartwatches and fitness bands provide convenience; these help to make payments easily without having to carry a physical card. Soon, we will see this trend in action across the world. 
• Improved Security Measures: With an increase in cyber threats, card issuers have introduced Europay, Mastercard, and Visa (EMV) chip technology and two-factor authentication to protect you from potential fraud.
• Biometric Authentication: Credit card issuers are introducing the provision of biometrics to credit cards to improve the level of security. This includes facial recognition, fingerprint scanners and others. This will allow seamless transactions without any interruption by removing the usage of PIN. 
• Buy Now, Pay Later (BNPL) option: This option allows you to make purchases with your card and pay in no-cost EMIs later. This comes in handy during any medical emergency or any unforeseen circumstances. It also allows you to manage your cash flow effectively.
• Personalised Reward Points: Spending on your credit card helps you gain reward points and cashback on purchases. While making payments, you can enjoy accumulating reward points. Benefits and rewards will soon be based on your spending preferences and patterns.
• Financial Literacy: Credit card companies are promoting financial education and wellness. They are investing in providing resources and conducting workshops in order to use their credit cards responsibly and make well-informed financial decisions. 

Changes in the Application Process

With several credit card updates, credit card applications in India have changed drastically over the years. Gone are the days when you have to visit the issuer’s branch physically. Now, you can simply apply for a credit card through the credit card issuer’s official website. 

To make things easier, many card issuers have come up with their own mobile application. You can use that not only to apply for a credit card but also for numerous functionalities like:

• Setting reminders for bill payment
• Checking the latest rewards on specific categories
• Managing your budget and many more things

This said, the credit card industry is constantly changing, which will have a major impact on how you will use your credit cards. With this information, you can manage your cards in a better way for an excellent overall experience. 

There are various card options that you can get as per your needs and eligibility, including traditional cards and a credit card on FD. If you are looking for such a credit card, the One Credit Card can be a fantastic option. This lifetime-free premium metal card has no hidden costs and offers a plethora of benefits, such as discounts, offers, cashback and more. 

Moreover, you earn 5X rewards on the top two spending categories per month, which you can use to save on your future transactions. Its mobile app with full stack technology allows you to check offers near you via GPS, so you never miss out on discounts. The app also helps you set spending limits, redeem reward points and convert bills to EMI instantly. Apply now to explore its benefits and get started with a future-ready card today!