Credit cards are an essential financial tool that enables its holders to make purchases and have the luxury of paying back the amount later.  A credit card enables you to make purchases by borrowing some funds, which needs to be repaid within a specific time limit. A credit card allows you to make purchases and pay for them later. In that sense, it's like a short-term loan. When you use a credit card to make a purchase, you're essentially using the credit card company's money.

You generally have to be at least 18 years old to open your own credit card. Before you turn 18, you're typically too young to enter into contracts. And that can include things like credit card agreements.

Salary is a crucial deciding factor for credit cards. Someone earning say Rs 50,000 per month is eligible for a different type of card than a person earning Rs 25,000 per month. On an average, income requirement is between Rs 1,44,000 and Rs 25,00,000 per annum for both salaried persons and self-employed.

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