How to select the best credit card in India for maximum gains
Whether you’re thinking of making a big-ticket purchase or want to shop for your weekly groceries, you can depend on your credit card. It helps you bag exciting discounts, reward points and cashback, apart from allowing to take bring home what you need now and pay later. However, you usually don’t find one credit card that offers all the benefits, and so you’re tasked with picking one that suits your spending needs the best.
Remember, owning a credit card is a financial obligation, much like any other form of credit. Thus, before you apply for a credit card, you should know how to identify the most effective option for you. Follow this 5-step walkthrough on how to select the best credit card for maximum benefits.
Look into your spending habits
Before choosing a credit card, analyse your spending habits to identify what you spend most of your income on. For example, if your monthly spends on fuel for your vehicle are much higher than your other purchases then getting an auto/fuel credit card is a perfect fit. This is because a fuel credit card will give you access to special surcharge waivers and allow you to earn more reward points for fuel purchase.
Similarly, if you have to take last-minute flights many times during the year owing to your business or personal needs then a travel credit card will offer you maximum discounts and convenience. The idea is to let your spending needs define the choice of the credit card you apply for. This way, you will always have a range of offers waiting for you within your spending arena.
Compare the variants
After settling on the type of credit card that matches your spending profile the best, you need to compare credit cards of the same type offered by different issuers. Each issuer will offer you different benefits and features, and you should always choose the issuer that has the most suitable benefits. Don’t opt for quantity, but ensure you’re enjoying quality savings and deals.
Familiarize yourself with fees and annual charges
The best credit card isn’t the one that has the highest fees and annual charges. While those that offer incredible benefits are locked away behind expensive paywalls, the best credit card for you is the one that complements your financial profile. This means that besides making it easy to purchase, it is also easy to maintain. Some of the credit cards in the market waive off the annual charges entirely after you’ve met certain spending criteria and some are known as low-interest credit cards. Keep all the fees and charges in mind when looking for the best credit card for yourself.
Check for a credit card that offers additional benefits
To truly get the best credit card for you, choose an issuer that offers you unique and useful benefits. For example, the RBL bank Credit Card lets you avail of an emergency loan through your credit card. This loan is interest-free for up to 90 days and can be repaid in easy EMIs. Benefits of this kind add a quality-of-life factor that is invaluable.
Opt for a credit card from an issuer that prioritises user experience
Besides all the benefits you can enjoy from a credit card, you must account for the experience of using the credit card. This extends to features that ease repayment or add a layer of security to your credit card. For example, through the RBL MyCard application, you can access your credit card statement, pay your credit card bill and even disable it if you suspect a fraudulent transaction when you have the SuperCard. This feature amps up your user experience making it convenient at every level.
With the help of this guide, you’re guaranteed to expedite the decision-making process while considering all the essential elements of a credit card. An option that definitely stands out is the Bajaj Finserv RBL Bank SuperCard. Through the reward system on this card, you can save up to Rs.55,000 annually. Additionally, the SuperCard also lets you convert any purchase over Rs.3,000 into easy EMIs. This allows you to make big-ticket purchases affordable. You can also use the SuperCard to withdraw cash from an ATM when you’re facing a cash crunch. This withdrawal, when returned within 50 days, is interest-free and you’re charged only a minimal processing fee on it. To enjoy the full benefits of the RBL Credit card, check your pre-approved offer online and enjoy a speedy application and approval.
