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Trying To Apply For A Credit Card? Check Out Digital Cards Like LazyCard Instead

Updated on: 21 July,2022 11:43 AM IST  |  Mumbai
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Trying To Apply For A Credit Card? Check Out Digital Cards Like LazyCard Instead

There is no doubting the fact that traditionally, credit cards have been tools of extreme utility, finding applications in a myriad of scenarios and bolstering the economic prosperity of millions of people all over the world. The best credit cards can truly make a difference in your life, and that is the reason why so many individuals apply for credit cards every year.


But just like other revolutionary technologies that have come and gone, credit cards are on their way out. The reason is twofold:

  • Credit Cards have an element of exclusivity to them, even the most basic ones. They are not easy to get for everyone.
  • There exist in the market better alternatives, such as the LazyCard offered by Lazy Pay.


Let us try to understand the major differences between a traditional credit card and a new-age digital card and see if moving with the times is a good option or not.


What Is A Traditional Credit Card

A credit card is a physical, often made of plastic, the card issued by a bank or other financial institution to an eligible customer. It enables the cardholder to instantly borrow money from the issuing institution. There is a limit set to how much credit can be accrued by the cardholder. The borrowed amount needs to be repaid upon the monthly generation of the credit card bill. The repayment amount can be the whole amount or a part of it (EMIs).


How Can You Apply For A Credit Card

Credit card application is a fairly simple process. You can connect with your bank and check which options are available to you. The process can be carried out online as well. The only caveat is that your credit card eligibility and your credit limit are based on your credit score, which is dependent on factors of your past financial behaviour.


What Are The Pros And Cons Of A Credit Card?

The major pros of a credit card are as follows:

  • You get very easy access to credit which can bolster your spending abilities and contribute to your growth.
  • Credit cards give you the option to buy things on EMI, which can mitigate your expenditure burden.
  • Using credit cards can improve your credit score in the long run. You also get many offers and cashback from select vendors.
  • Credit cards have high acceptance in the market and can be used to make purchases in almost any sphere of the market.
  • Some credit cards also let you take out cash up to 10 per cent of your credit limit. Note that you might be required to pay interest on this amount.


The cons of Credit Cards are as follows:

  • They can very quickly go from being empowering instruments to debt accumulating instruments if not used wisely.
  • There are a lot of hidden charges and steep annual fees involved.
  • The interest rates on credit cards are very high.
  • It can be difficult to get a credit card in the first place if you have minimal previous financial history.


The Alternatives: Lazy Card

The latest revolution in digital payments has been brought by the BNPL model. It stands for Buy Now Pay Later. In BNPL, you can purchase something without paying anything from your pocket at that moment, much like a credit card. You are required to pay the amount in lump sum or EMIs at a later date, much like a credit card. But unlike the credit card, there is no interest charged on the amount.

Under this scheme, companies like LazyPay are offering digital (and in some cases physical) cards that function like credit cards but address a lot of their shortcomings.

Let us take a look at how.


How Is A Lazy Card Different From A Credit Card?

  • The first major difference is in the application process. It is hassle-free and quick. You can apply for a lazy card on the LazyPay app. You just need basic documents like your PAN card ready. A lazy card’s credit limit starts from Rs. 2000, and can improve once you use it regularly. From monthly groceries to big-ticket purchases up to Rs. 5 Lacs, A Lazy Card can bring the purchasing power of interest-free credit to your pocket in a flash.
  • If you keep paying your bills on time, your overall credit score can also improve. Unlike a credit card where interest charges might hinder your spending habits, you can really exercise your credit without any limitations and improve your credit score over time.
  • Unlike a credit card, where purchase tracking is relatively complex, a Lazy Card allows you to keep track of your spending in real-time via the LazyPay app.
  • There is absolute transparency when it comes to maintenance charges and other fees because there aren’t any. That’s right. The Lazy Card is lifetime free with no hidden costs or annual fees.

Apart from these differences, you enjoy the benefits of exclusive offers, high acceptance, and a hassle-free purchasing experience.



Digital cards like Lazy Card are truly changing the paradigm of credit-based spending by enabling many financially under-serviced Indians to take credit and improve their lives. If you are looking to apply for a credit card, you should definitely explore the option of digital cards like Lazy Pay.



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