5 Important factors for choosing the right credit card

Different credit cards cater to different needs. Consider the key factors and choose the right card that fits your lifestyle.
RBL Bank Credit Card
4 minutes
01 April 2024

Choosing the right credit card can have a significant influence on your savings. As different credit cards cater to different needs and lifestyles, learn about the factors that could help you decide better.

Some key things to consider when applying for a credit card

  1. Rewards program: What kind of rewards do you wish to earn by using your credit card, such as cashback, points, or miles? Look for a card that offers rewards for purchases you typically make. Bajaj Finserv’s co-branded credit cards offer a range of rewards, from accelerated rewards for regular spending to cash backs on dining, entertainment, and down payments.

  2. Fees: It is important to learn about joining fees, annual fees, and any additional costs, to find a card that fits your pocket. There are many cards that are free for the first year while others waive the annual fee on spending a certain amount in a year. Bajaj Finserv RBL Bank Credit Cards offer three variants with no joining fee and an annual fee waiver upon spending a certain amount on the card.

  3. Annual Percentage Rate (APR): Annual Percentage Rate (APR) is the amount of interest you will have to pay on credit card debts in one year. This rate is shown as a percentage of the debt you owe and is added to the balance every month until your debt is fully paid off.

  4. Interest-free cash withdrawal: You can withdraw cash from any ATM using some credit cards, but it will also attract a hefty interest on the transaction. But many credit cards these days allow you to withdraw cash without any interest charges, a good example of such a card is Bajaj Finserv RBL Bank Platinum Plus SuperCard.

  5. Additional perks: Apart from rewards and discounts, some credit cards offer additional benefits such as airport lounge access, fuel surcharge waiver, flight upgrades, free movie tickets, emergency cash advance, and cash withdrawal facility.

With the right credit card, you can unlock a world of financial freedom and flexibility.

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