Ready to apply for your first credit card? But which credit card will suit your need or which bank credit card is best? This kind of questions are obvious and the answer of this question is by comparing the features of credit cards.
When I took my first credit card which was Standard Chartered Manhattan Credit card, I was just impressed with the features and when I compared this with other credit cards in India, I was able to make my decision clearly as per need. In this article I will share few basic tips you should look for while choosing a credit card.
The very first thing I want to share is, you should have a need to carry a credit card. Although banks are calling you and asking to apply credit card for lifetime free, remember that those credit cards may not have any features, you are looking for. So always better to go for a credit card when you need in actual. E.g. I mostly prefer to buy groceries from super market and that’s why I opt for SC Manhattan Credit Card as I can get 5% extra cashback.
Tips To Compare Credit Cards online and Choose The Best Credit Card in India 2017
Definitely having a credit card will always ensure you an emergency fund source, which you can use any time you need. But why not analyse first and then got for the first credit card as per your need only, rather than just taking a credit card without knowing what that card can do & what can’t.
There are many online ports where you can compare credit cards of many banks in India. Few of them are like
Anyway, let’s discuss about the factors which you should consider while choosing the best credit card in India. In fact you can review a credit card in India by considering the below points.
Well, reputation plays the major role in any kind of business and in case credit card this is not true all the time. What I am trying to say is that you may consider SBI as the best bank of India, but it is not necessary that SBI credit cards will offer the best features compared to others. Now a days there are many banks who are making mark in India and
offering very good cards. Few of them are Standard Chartered, Citi Bank, Axis bank etc. You can check out their credit cards which are designed to get benefit for various benefits like cashback on online shopping, discount on movie ticket booking, cheap air tickets etc.
Mostly people think that lifetime free credit cards are always have less benefits. In fact I have highlighted this perception though, but there are banks who offer credit cards with premium facilities with zero joining fee. In case of renewal fee every bank credit card has the provision to waive off the annual fee in case of certain transaction in a year. Make sure you are comparing those features to choose the best credit card.
Although the interest rate for credit cards are similar pattern only, but make sure you are comparing various clauses mentioned in credit card terms and mainly check various cases of interest applied. Most of us only think that credit cards changes on missing bill payment date or cash withdrawal. But there are other kind of transactions where the interest rates can be different. Try to find the lowest interest rate credit card.
Grace period & penalty
This is another point which one should look for while choosing a credit card. Although 50 days grace period is quite common with late payment penalty. But check the new credit card providers and their features where you may get some good deal and get some more relaxation on penalty.
Reward or Cashback
Yes, this is one of most preferred feature of a credit card. people who love to shop online will definitely try to get the credit card who offer great reward points and easy to redeem option. If you love to travel, then a travel credit card can help you to earn Air miles which you can convert for various other benefits.
So, choosing the best credit card may take some of your important time but the time will worth for you if you are able to find the best suited credit card as per requirement. As I have mentioned, I am able to save Rs 500 on my grocery shopping using the SC credit card, you can also share your story of using credit card and saving some money here by writing a simple comment below.