Know all about UNI pay 1/3rd card

So far, we know that credit card payment dues on time are a crucial part as late payment can lead to  high-interest charges and late payment penalties. UNI card is a revolution in credit cards as you get  a buy now and pay later facility. Financial planning can help you pay the dues in time. However,  unforeseen financial distress can cause trouble in the repayment of credit card dues. 

With the UNI pay 1/3rd credit card, you can choose to pay your bills monthly in three-part  over three months with no extra charges. Uni pay 1/3rd credit card launched by Uniorbit  Technologies (UNI) in partnership with RBL Bank, State Bank of Mauritius, and Liquiloans. The  UNI cards have a lot of advantages over a traditional credit card. For example, it has no annual fees or  joining fees. 

The various advantages of a UNI pay 1/3rd credit card are

No annual fees or joining fees: 

  • The Uni pay 1/3rd credit card charges no annual fee or joining fees. Thus, it is a lifetime free credit  card. 

Spend anywhere and everywhere:  

  • You can choose the card for buying anything ranging from groceries and essentials, bills and  utilities, or fashion sales. 

Pay in three parts over three months: 

  • The card is the first of its kind in India that allows its customer to pay the dues of their monthly  spend in three-part over three months with no extra charges. 

Pay in 1 month for 1% cashback: 

  • You get to win a cashback reward price if you pay in full post the 30-day free credit period. 

UNI card acceptance: 

  • Your Uni pay 1/3rd card is accepted at 99.9 per cent of the merchants across the country. 

Data protection and security:  

  • The card also comes with data protection, security, and encryption of your data, ensuring that no  one can counterfeit it.

Eligibility to apply for UNI pay 1/3rd card: 

Residency of the applicant:  

  • The applicant must be an Indian resident. 

Applicant’s age: 

  • The applicant must be at least 18 years of age. 

Credit score: 

  • An applicant’s credit score can be an essential criterion to check the individual’s financial health.  Therefore, the credit score includes applicants’ credit history and repayment history. CIBIL score can range from 300 to 900. Most importantly, a credit score above 750 is considered a good credit  score. The applicant must have a good credit score. 

A stable source of applicants: 

  • The applicant must have a steady source of income to be eligible. 

Who should apply for Uni pay 1/3rd card? 

The Uni card is a good option if you are new to credit cards. Traditional credit cards include a lot of  eligibility criteria to be fulfilled. Thus, generally, people not eligible to apply for a conventional  credit card can apply for a UNI card. It has fewer eligibility restrictions. For example, less minimum  income requirement, less credit score and income stability. UNI cards do not come with as many  offers as traditional credit cards.  

So, 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, if you are looking for offers and  benefits such as lounge access, fuel surcharge waivers, and travel benefits, a traditional credit card is  an option.  

Summing up

After reading this blog, you know the benefits of UNI cards, the eligibility to apply for UNI cards  and who should apply for UNI 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. Therefore, if you are thinking of applying for 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 UNI card asks for no annual fee and  joining fees. If you find the card’s benefits interesting, you can apply for the card. However, if you  are looking for more offers, you should check the traditional cards.

Read Also: Difference between Credit Score and Credit Report