Exploring the Benefits and Drawbacks of Credit Card Loans

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Need funds? You can get an instant loan against your credit card. Read all the pros and cons here.

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You can borrow money on your credit card depending on your credit limit and repay the loan in EMIs.

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Benefits

• Instant disbursal

• No documentation needed

• No collateral needed

• Flexible repayment tenure

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Drawbacks

• Loan amount depends on the credit limit

• Increases credit utilisation affecting credit score

• Non-payment harms the credit score

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What should you do?

Loan on credit card is a great tool to have in case of emergencies. Always choose a bank that offers guaranteed funds and low interest rates.

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Metra Trust Credit Cards offer Loan on Credit Cards for all cash emergencies at interest starting from 9% p.a. and easy EMI repayment options.

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