Another name for the no limit credit card is the platinum card. It is a card which is issued by all the major banks in the world. A special feature of the card is that there is no upper limit to the credit that can be taken by the holder.
The no limit credit card is a card which can be afforded by the rich and the famous. It requires you to pledge a huge sum of money as a security to the credit that you are taking.
In order to get the no limit credit card you should have a few qualifications, which are as follows-
- You should be above 18 years of age.
- You should hold an account in the bank from which you want the card. However, a mere bank account will not fetch you the no limit credit card. You should have a minimum balance which is prescribed by the bank. All the banks have different amount prescribed as per their standards.
- The card is issued only by a bank which is well to do and can afford to give such a huge credit. Thus, you will have to look out for such banks most of which are multi national banks.
- Most importantly, you will need to have a good credit score. Even if you have millions of rupees in your account and do not have a good credit score, you will not be able to get the no limit credit card. This is due to the fact that the bank will be taking a huge risk in giving the card.
However, you should know that if you are not paying the credit dues on time, your card will be blocked. It will be released only after the due amount is paid in full.
To learn much more about credit cards, visit a2zcreditcardz.com where you’ll find this and much more, including Advantages of credit cards
