Trying to apply for a credit card? Check out digital cards like LazyCard instead

There is no doubt that traditionally, credit cards have been extremely useful tools, finding applications in a myriad of scenarios and boosting the economic prosperity of millions of people around the world. The best credit cards can really make a difference in your life, and that’s why so many people apply for credit cards every year.

But just like other breakthrough technologies that have come and gone, credit card are coming out. The reason is twofold:

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

Let’s try to understand the main 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 plastic, card issued by a bank or other financial institution to an eligible customer. It allows the card holder to instantly borrow money from the issuing institution. There is a limit to the amount of credit that can be accumulated by the cardholder. The borrowed amount should be repaid during the monthly credit card bill generation. The refund amount can be the full amount or part of it (EMI).

How can you apply for a credit card

Applying for a credit card is a fairly simple process. You can connect with your bank and check the options available to you. The process can also be done online. The only caveat is that your credit card eligibility and credit limit are based on your credit score, which depends on factors from your past financial behavior.

What are the pros and cons of a credit card?

The main advantages of a credit card are:

  • You benefit from very easy access to credit which can strengthen your purchasing capacities and contribute to your growth.
  • Credit cards give you the ability to buy things on EMI, which can ease your spending burden.
  • Using credit cards can improve your credit score long-term. You also get plenty of offers and cashback from some vendors.
  • Credit cards are widely accepted in the market and can be used to make purchases in almost all spheres of the market.
  • Some credit cards also allow you to withdraw cash up to 10% of your credit limit. Note that you may be required to pay interest on this amount.

The disadvantages of credit cards are:

  • They can very quickly turn from instruments of empowerment to instruments of debt accumulation if not used wisely.
  • There are lots of hidden fees and high annual fees.
  • Interest rates on credit cards are very high.
  • It can be difficult to get a credit card in the first place if you have a poor financial history.

Alternatives: Lazy Card

The latest revolution in digital payments has been brought about by the BNPL model. It means buy now pay later. At BNPL, you can buy something without paying anything out of pocket at the time, much like a credit card. You are required to pay the amount in a lump sum or EMI at a later date, much like a credit card. But unlike the credit card, no interest is charged on the amount.

Under this program, companies like LazyPay offer digital (and in some cases physical) cards that work like credit cards but fix many of their shortcomings.

Let’s see how.

How is a lazy card different from a credit card?

  • The first major difference is in the application process. It’s hassle-free and fast. You can apply for a lazy card on the LazyPay app. You just need basic documents like your PAN card. The credit limit of a lazy card starts at Rs. 2000, and can improve once you use it regularly. From monthly groceries to large purchases of up to Rs. 5 Lacs, A Lazy Card can bring the buying power of interest-free credit to your pocket in the blink of an eye.
  • If you continue to pay your bills on time, your overall credit score may also improve. Unlike a credit card where interest charges can get in the way of your spending habits, you can truly exercise your credit without limits and improve your credit score over time.
  • Unlike a credit card, where tracking purchases is relatively complex, a Lazy Card lets you track your spending in real time through the LazyPay app.
  • There is absolute transparency regarding maintenance fees and other charges, because there is none. It’s true. The Lazy Card is free for life, with no hidden fees or annual fees.

Other than these differences, you get the benefits of exclusive offers, high acceptance, and a hassle-free shopping experience.


Digital cards like Lazy Card are truly changing the paradigm of credit-based spending by enabling many financially underserved 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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