We often talk about having the power to shop without restrictions. Shop as much as we want without worrying about money. And yet we don’t do it when there are easy financial options available at our fingertips. One such great service that the fintech boom in India has given us is instant line of credit.

Today, line of credit is one of the most popular financial instruments for individuals and businesses to take care of their lifestyle and emergency needs. It is slowly substituting credit cards due to its large number of benefits. Let’s find out more about it.

What is a Line of Credit?

A Line of Credit is a pre-loaded loan that you can use to transact for any kind of purchase online or offline. It is a set amount that is credited to you through an app (like Dhani Credit Line) which you can use as a credit card to purchase lifestyle products like sari and jewellery, make bill payments, book hotels and flights, and whatnot.

The upside of line of credit is that you only pay for how much you spend. Unlike a credit card, each transaction gets recorded against the total amount, which can then be paid back through easy EMIs.

As a financial system, it takes a hassle-free and no-holds-barred approach as you can use it for any type of financial transactions. Popular among college students, young working professionals, and businessmen, credit line is a great way to tackle cash crunch during emergencies.

Although it can be used for a vast number of applications, here are its most popular use cases.

Prime Uses of Line of Credit

With Line of Credit, you can:

  • Shop at a shopping centre and buy clothes, jewellery, toys
  • Eat and drink at a restaurant or a café
  • Book your entire travel plan (flights, buses, hotels)
  • Make utility bill payments and mobile recharges
  • Shop for furniture, electronics, and even huge appliances like smart TVs

The possibilities are endless. It is when you think of Line of Credit as a substitute to cash and cards is when you will realize its importance and ease of use.

Advantages of Credit Line

In addition to the wide number of applications, a Line of Credit also boasts of several advantages. Here are some of the top benefits as provided by the Dhani app, one of the leaders in the Line of Credit services:

  • Free and instant setup. You can download the Dhani app and avail a line of credit right now
  • Pre-approved limit of your usage. You can set a limit while you get the credit and enjoy the benefits for years
  • Available 24×7. You can’t predict when emergencies will knock on your door, and with a Line of Credit you can always be prepared. You can also apply for it anytime of the day and night
  • EMI option for easy repayment
  • Access to RuPay card that can be used across 30 lakh merchants. You can also avail of attractive offers and discounts

Credit cards where in vogue in the previous decade. 2020 is definitely a year where Line of Credit will take precedence amongst users. Not just because of its easy availability and hassle-free setup, but because it also comes with a huge gang of benefits. All of which are too good to refuse.

While there are several applications that provide Line of Credit, the Dhani app trumps all of them with its added benefits like RuPay Card and competitive processing fee. Download the Dhani app today and explore what it can do for you.

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May 2021