Understand your needs and list your options. It will be easier to shortlist the right credit card if you know exactly what you need.
Here are a few things to look out for before you choose a credit card:
1: Check accessibility:
Find out the eligibility criteria and documents required to apply for the credit card.
2: Check the features:
Choose a credit card which has additional features like extended interest-free period, ease of repayments, security, online application and more.
3: Check the incentives:
See what discounts, cashbacks, rewards, loyalty points or special privileges are being offered and pick a card that has incentives relevant to you and your needs.
4: Fees and charges:
The benefits shouldn’t be at the cost of high annual fees and charges. Look for a credit card with affordable annual fees.
5: Highlight of the card:
Look for the card’s special highlight, like the Bajaj Finserv RBL Bank SuperCard gives you interest-free instant loan and cash withdrawal facility.
6: Credit limit:
Calculate your average monthly spending and your monthly income. Then choose a credit card which gives you a higher credit limit and flexibility.
7: Application procedure:
Choose the credit card which has minimum processing time and easy application process.
8: CIBIL score:
It is a myth that credit cards can ruin your credit score. If you repay on time, credit cards can have a positive impact on your CIBIL score.
