From handbags and hats to enjoying holidays, you can pay for anything by merely swiping the card. Moreover, the liability covers which issuing companies provide, in case of theft or fraud, makes them even more attractive to avail.
However, a credit card comes in different variants designed to give you specific benefits. So, you need to have a clear purpose before getting your hands on one of these.
Besides, credit cards like the Bajaj Finserv RBL Bank SuperCard make it easier for you to meet your purposes with their benefits. The SuperCard comes with industry-first features like:
Availing emergency personal loan on the unutilised credit limit.
Repayment of the emergency loan in 3 easy EMIs with an interest-free window of up to 90 days.
No interest is levied up to 50 days on the amount withdrawn from ATM using the SuperCard.
These features make the SuperCard one of the most beneficial credit cards in the market. It lets you manage your finances efficiently, which is a prime focus of people needing a credit card.
Now, learn in details about a few factors that can help you decide on the appropriate credit card.
Follow these tips to decide on the right card:
1: Flexibility in repayment
When selecting credit cards, you must check whether the financial institution is offering flexibility in repayment or not. At times it might happen that you don’t have the sufficient amount to pay the bill. Then, some companies allow you to convert the outstanding dues into EMIs. This makes the payment more convenient and affordable. So, look out for such flexibilities.
2: Lower APR if you want to carry forward the balance
Some cards offer you an option to make part repayment and pay the rest at a lower rate of interest known as APR. If you want to carry a balance on your card and not make full payment at one go, choose a card that offers lower APR for the purpose.
However, remember that this can reduce your CIBIL score significantly.
3: Check for your credit card eligibility
Financial companies require you to meet certain credit card eligibility criteria like age, credit score, and available documents, etc. to approve your application. Check out the requirements for different cards and apply for one you are eligible for.
4: Secured or unsecured
Much like loans, credit cards also come as secured and unsecured. However, secured cards are usually offered against fixed deposits. Most of the credit cards available are unsecured in nature. You must consider this aspect before choosing one.
5: Types of rewards
Credit cards are a great way to earn rewards and cashbacks. Some cards offer higher reward points on expenses like travel bookings or when swiped at petrol pumps.
So, if you are one of the frequent flyers, you can go for a card offering milestone bonuses and cashbacks on ticket booking and free airport lounge access. Or, you may opt for a card that gives fuel surcharge waivers for fuel purchase at petrol pumps, in case you commute in your own vehicle.
Step 6: Cards with low to no joining and processing fees
Some credit cards do not charge any joining fee. Some also offer minimal to low processing fees for repayments. Moreover, some even give you a welcome gift up to 20,000 reward points for joining.
Hence, go for a credit card that offers you such benefits over and above resolving your financing woes. Hopefully, now, you have a clear picture of what type of card to choose. Check for the best features among different credit cards and apply for the right one.
Article Source :
http://www.veethi.com/articles/a-guide-to-help-you-find-the-right-credit-card-article-4182.htm
Keywords : credit card