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Anurag, a young Srinagar professional, wanted to furnish his new flat but was worried about how he would pay for it. He decided to apply after learning about the J&K Bank Platinum Credit Card. Anurag used the ₹4,000 welcome bonus from the card, which was available across high-end brands, to buy necessities for the home.
The J&K Bank Platinum Credit Card’s reward scheme is one of its noteworthy features; cardholders receive one reward point for every ₹200 spent, excluding cash withdrawals and fuel purchases. Every reward point is worth ₹1.
For example:
Total Monthly Spending: ₹20,000
Reward Points Earned: ₹20,000 ÷ ₹200 = 100 points
Monetary Value of Points: 100 points × ₹1 = ₹100
Anurag received ₹100 in reward points that month by using his J&K Bank Platinum Credit Card for routine expenses. He could then use these points to make future purchases. This function not only helped him save money, but it also motivated him to better control his spending.
A wide variety of credit cards are available from Jammu and Kashmir Bank to meet different financial demands. Here are a few key highlights to consider:
1. Welcome Benefits:
Platinum Credit Card: New users receive welcome offers worth ₹4,000 across premium brands.
2. Reward System:
Point Value: Each reward point is equivalent to ₹1, effectively offering a 0.5% cashback rate.
3. Cash Withdrawal Facility:
Access up to 20% of your total credit limit as cash, providing liquidity when needed.
4. EMI Conversion:
Convert large purchases into manageable EMIs, making it easier to handle big-ticket expenses.
5. Global acceptance
J&K Bank credit cards are widely accepted, ensuring seamless transactions both domestically and internationally.
Here are a few features of the J&K Bank credit card to consider:
Feature | Description | Example |
20-50 Days Credit Free Period | No interest is charged if the full outstanding balance is paid before the due date within the credit-free period. | If your due date is the 10th of the month and you make a full payment by the 10th, no interest will be charged. |
Revolving Credit Facility |
Through a well-organised rewards program, Jammu & Kashmir Bank provides its credit cardholders with a fulfilling experience. Here's an overview:
Reward Points System:
Validity: Accumulated reward points are valid for 3 years from the date of the transaction, allowing ample time for redemption.
Read More – JK HRMS Explained: Key Features & Benefits
Redemption Process:
Minimum Threshold: A minimum of 500 reward points is required to initiate redemption.
Additional Benefits:
Fuel Surcharge Waiver: While fuel purchases don't earn reward points, cardholders enjoy a fuel surcharge waiver on transactions, subject to a maximum fuel purchase of ₹5,000 per month.
A surcharge waiver on J&K Bank Credit Cards means that cardholders don’t have to pay the extra fuel surcharge fee (typically 1% to 2.5%) when refuelling at petrol pumps. This waiver is applicable for fuel transactions up to ₹5,000 per month.
Example:
Anurag uses his J&K Bank Credit Card to buy fuel worth ₹3,000. Normally, a 1% surcharge (₹30) would be added, making his total ₹3,030. However, with the surcharge waiver, he only pays ₹3,000, saving ₹30.
Type of Fee/Charge | Gold Credit Card | Platinum Credit Card | Govt. Employees Credit Card | World Credit Card | Corporate Credit Card |
Entrance Fee (Primary/Add-on Card) | NIL |
S.No. | Particulars | Charges |
1. | Maximum Interest-Free Credit Period (only on full payment, on or before the due date) | Upto 50 days |
2. | Finance Charges / Interest Rate (Purchase / Cash) |
Card Replacement Fee
As per Card Variant
14.
Retrieval of Charge Slip
₹100 or the actual charges incurred, whichever is higher
15.
PIN Replacement Fee
₹100
Enables you to carry forward a portion of the outstanding balance, paying a minimum amount due.
If the monthly balance is ₹10,000 and you pay ₹2,000 as a minimum payment, the remaining ₹8,000 will carry interest. |
Hassle-Free Credit Facility at a Competitive Rate | Borrowing facility at a competitive interest rate. | A loan of ₹50,000 at a 14.99% interest rate for 12 months. |
Cash Withdrawal Facility up to 40% of Total Credit Limit | Withdraw cash from ATMs or other outlets, up to 40% of your available credit limit. | If your credit limit is ₹50,000, you can withdraw up to ₹20,000 in cash. |
Loyalty Program | Earn points or rewards for your credit card purchases that can be redeemed for gifts, services, or discounts. | Earn 1 point per ₹100 spent, and redeem 500 points for a ₹500 voucher. |
24-Hour Customer Assistance | Assistance is available around the clock for queries or issues. | Call the helpline anytime for support with transactions, card issuers, or inquiries |
EMI Scheme on Credit Card Purchases and Outstanding Balance | Convert purchases or outstanding amounts into easy monthly instalments (EMIs). | Convert a ₹20,000 purchase into a 12-month EMI at 14.99% annual interest. |
NIL
NIL |
NIL |
NIL |
Annual Fee (Primary/Add-on Card) | ₹200 + GST | ₹300 + GST | NIL | ₹1000 + GST | ₹500 + GST |
Renewal Fee (Primary/Add-on Card) | ₹200 + GST | ₹200 + GST | NIL | ₹200 + GST | ₹200 + GST |
Card Replacement Charges (Primary/Add-on Card) | ₹200 + GST | ₹200 + GST | ₹200 + GST | ₹200 + GST | ₹200 + GST |
Product Upgrade Charges | NIL | NIL | NIL | NIL | NIL |
Limit Enhancement Fee (Primary/Add-on Card) | NIL | NIL | NIL | NIL | NIL |
Annual Fee Waiver Criteria | Purchase Amount (INR) | Gold Credit Card | Above ₹50,000 | Platinum Credit Card | Above ₹75,000 |
3% per month (Annual Rate of 36% and APR of 42.57%)
3. | Minimum Payment Due on Revolving Credit | 5% of the actual balance or 5% of the Card limit + 100% of over-limit usage + EMI’s of the month (if any) and EMI Preclosure (if any) |
4. | Statement Date | 20th of every month |
5. | Payment Due Date | 20 days from the billing date (9th or 10th of the succeeding month) |
6. | Cash Advance on Credit Limit | 20% of the credit limit |
7. | Cash Advance Charges at Our Bank ATMs | 3% of the amount with a minimum of ₹300 for each transaction |
8. | Reissue of Stolen, Lost, or Damaged Card | As per Card Variant |
9. | Cash Advance Charges at Other Bank ATMs in India | 3% of the amount with a minimum of ₹300 for each transaction |
10. | Cash Advance Charges (Overseas) | 3% of the amount with a minimum of ₹300 for each transaction |
11. | Overdrawn Fee | 2.5% of the over-limit amount (excluding over-limit due to interest, fees, charges, and taxes), subject to a minimum of ₹400 |
12. | Late Payment Fee | Upto ₹100 due: NIL, Above ₹100 due: ₹250 |
13. |
*T&C Apply
16.
EMI Processing Fee
₹99
17.
EMI Pre-closure Charges
3% of the remaining amount
18.
Charges on Rental Payments (MCC: 6513)
1% of Transaction Amount
19.
GST
18% or as applicable from time to time as per Govt. guidelines
20.
Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS)
Applicable as per regulatory guidelines on overseas credit card spends under LRS, and TCS charged as per applicable rates notified by authorities
Tenor | Rate of Interest (Transactions) | Rate of Interest (Outstanding) |
3 Months | 14.99% | 16.00% |
6 Months | 14.99% | 16.00% |
9 Months | 14.99% | 16.00% |
12 Months | 14.99% | 16.99% |
18 Months | 14.99% | 16.99% |
24 Months | 14.99% | 16.99% |
Note: GST is applicable on EMI interest.
The charges are subject to change. Any change in fees or charges will be effective only with prior notice of at least one month to the customer. If a cardholder wishes to surrender the card due to a change in fees or charges to their disadvantage, they can do so without any extra charges, provided all dues are cleared.
A range of credit cards, each with unique pros and cons, are available from Jammu & Kashmir Bank to consider what is beneficial for you. Here's a quick overview:
Pros:
Global Acceptance: Use your card internationally for smooth transactions.
Cons:
No Cashback Offers: Currently, there are no direct cashback programs associated with J&K Bank credit cards.
Category | Value |
Age | 21 to 65 Years |
Income Requirements | Employed – ₹80,000 |
Self-Employed – ₹1.50 lakh | |
Credit Score | Some credit cards require a credit score for eligibility |
Category | Documents Accepted |
Proof of Identity | PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI, etc. |
Proof of Address | Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, etc. |
Proof of Income | Latest one or two salary slips (not more than 3 months old), Last 3 months’ bank statement, ITR, Form 16, etc. |
Here is a step-by-step guide to apply for J&K Bank Credit Card:
Online Application:
Step 1: Click on the link to access the J&K Bank Credit Card website.
Step 2: Click on "Apply for Credit Card."
Step 3: You will be redirected to a new page.
Step 4: On this page, fill out the application form with your details.
Step 5: Choose between applying for a "Normal Credit Card" or a "Card against FD."
Step 6: Enter your operative account number and date of birth.
Step 7: Click on "Generate OTP" to receive the one-time password.
Offline Application:
Step 1: Go to your nearest J&K Bank branch.
Step 2: Request a credit card application form from the bank representative.
Step 3: Fill in the necessary details carefully.
Step 4: Provide the completed form along with the required documents. The bank will process your application and inform you about the next steps.
If you need assistance with your J&K Bank credit card, you can reach their customer care through the following channels:
24-Hour Customer Care Helpline:
These lines are available 24/7 for reporting lost or stolen cards, billing enquiries and other credit card-related services.
Also Read - J&K Bank Net Banking
Email Support:
Grievance Redressal: grievance.redressal@jkbmail.com
For detailed information, you can visit the official J&K Bank contact page.
J&K Bank credit cards provide a variety of financial flexibility and rewards, catering to diverse customer needs. With benefits like a 20-50-day interest-free credit period, EMI conversion options, and a comprehensive rewards program, cardholders can manage their finances effectively while enjoying various perks.
Additionally, the cards are widely accepted globally, enhancing their utility for international transactions. However, potential applicants should consider aspects such as limited add-on features and the absence of direct cashback offers. To understand more about this and to choose a card that aligns with your financial goals, visit the official J&K Bank credit card page.
Q. Does a prior relationship with the bank help the user’s eligibility for a credit card?
Before applying for a credit card, applicants do not need to retain a previous relationship with Jammu and Kashmir Bank. However, the application process will be rather simple for applicants with a previous relationship. For example, while applying for a credit card, consumers may not need to resubmit their PAN information or KYC documents.
Q. Who can apply for Jammu and Kashmir Bank credit card?
Indian citizens who are at least 21 years old and earn at least Rs. 80,000 from a job or Rs. 1.50 lakh from self-employment are eligible to apply for a Jammu and Kashmir credit card.
Q. What is the annual fee or renewal fee on Jammu and Kashmir credit card?
The annual cost is 400 rupees plus the relevant GST.
Other Credit Cards | ||||
