How to choose the right credit card?

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.

Additional Read: How to Select Credit Card

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