You know how essential it is to pay your credit dues on time. You need to pay dues if you don’t want to ruin your credit score and pay late payment penalties. However, it is common not to be able to pay due to unforeseen financial mishaps. Now you have the Uni pay 1/3rd credit card launched by Uniorbit Technologies (UNI) in partnership with RBL bank, State Bank of Mauritius, and Liquiloans.
Uni pay is a buy now pay later card. You can spend anywhere and pay 1/3rd of your bill on groceries & essentials, fashion sale, emergency & bills or even on party with this card, Uni pay 1/3rd credit card has a lot of advantages over a traditional credit card. Apart from the fact that it allows you to divide your dues over three months and rewards you in case you pay early, it has several other benefits given down below:
Benefits of Uni pay 1/3rd card:
The card is the first of its kind in India that allows its customers to pay the dues their monthly spend in three-part over three months with no extra charges.
You get to win a cashback reward price if you pay in full post the 30 day free credit period.
The Uni pay 1/3rd credit card charges no annual fee or joining fees. Thus, it is a lifetime free credit card.
You can choose the card for buying anything ranging from groceries and essentials, bills and utilities, or fashion sales.
Your Uni pay 1/3rd card is accepted at 99.9 percent of the merchants across the country.
The card also comes with data protection, security, and encryption of your data, ensuring that no one can counterfeit it.
The credit limit on Uni pay 1/3rd card:
Like any traditional card, the Uni card comes with a credit limit. If you opt to use the 1/3rd repayment facility, your credit limit gets reduced to the amount of your bills. However, if you clear your dues on time, the credit limit gets reinstalled. The minimum credit limit for UNI Cards is INR 20000, and the maximum credit limit is up to INR 6 Lacs. Thus if you have an unpaid credit of 60000, you can either pay in full or choose to pay in three monthly instalments. In this case, you can repay 20000 per month starting next month.
Eligibility of Uni pay 1/3rd card:
The applicant must be an Indian resident.
The applicant must be at least 18 years of age.
The applicant must have a good credit score.
The applicant must have a stable source of income to be eligible.
Who should apply for a Uni pay 1/3rd card?
The Uni card is preferably a good option if you are new to credit cards. Generally, people who are not eligible to apply for a traditional credit card due to strict rules such as high minimum income requirement, high credit score and income stability apply for a Uni card.
If you are starting with credit cards, Uni cards have a lifetime free card opportunity for a limited period. The card can also be beneficial when there are unforeseen financial constraints, so if you don’t have a high or stable income source, you can apply for a Uni card.
However, you should not apply for a Uni card if you are looking for offers and benefits such as lounge access, fuel waiver surcharge, or travel offers given in traditional credit cards.
The Uni credit card is a buy now pay later type of card. It can come in handy for people looking for convenience in paying off the dues. If you are thinking of applying for best credit cards, you can apply for a Uni card. It provides many offers for new credit card customers. The card does not ask for extra charges over three months of credit. The card also freezes automatically if not used for over 6 months. However, you should be aware of the late payment and carry forward charges that can be daunting. Before applying for any credit card, you should check and compare the card to know the best option.