Factors To Compare Credit Cards


Getting a credit card is a very big step and you need to make the decision after taking everything into consideration. A credit card is like a coin having two sides i.e. advantages and disadvantages. In order to earn the benefits from a credit card, you need to have the right credit card. In this article, we have covered the factors on which you can compare credit cards in order to choose the right credit card. Keep reading to kick start your research.

  1. Ask questions: This is an important step you need to follow. Be sure that you really need a credit card. Ask questions like whether taking a credit card would help you save money? How much will it cost you to take a credit card? Whether you really need a credit card or not? If all the answers are in favor of taking a credit card then move on to the next step of credit card comparisons of the top credit cards available in India to get the right credit card.

  2. Identify spending habits and needs: To begin with your credit card application first you need to identify your needs and spending habits and accordingly choose the credit cards that match them. Having the right credit card helps you maximize the benefits. This is the first step that helps you get set for the further process of credit card comparison. Choose the type of credit card that compliments your spending habits.

  3. Fees and hidden charges: After you have selected the credit cards based on your needs and spending habits now compare them on the basis of their annual fees and other hidden charges. You can find all these in the most important terms and conditions leaflet and select the ones which complement your financial profile.

  4. Sign up bonuses: Now that you have a few credit cards compare them on the basis of welcome offers and choose the ones that offer you the highest welcome offers.

  5. Reward Rate: Now compare credit cards online on the basis of their reward rate. You will get an idea of which credit card offers a higher reward rate and which one compliments your spending habits. Select the ones which are of the highest value to you.

  6. Compare interest rates: Now you can compare the selected credit cards on the basis of interest rate and narrow them down to those that offer a lower interest rate. This will help you save money.

  7. Compare extra benefits: This step is added so that you can enjoy more benefits on your credit card. You can compare the credit cards on the basis of movie & dining benefits, travel benefits, insurance benefits, fuel surcharge, etc.

Bottom Line:

To summarise, we hope you can find out the right credit card for yourself that matches your needs and spending habits. Just having the right credit card won’t do the work, you need to keep two things in your mind that are paying the credit card bills on time and maintaining a low credit utilisation ratio. This will help you in building a good credit score as well as a good standing account.

 Additional Reading - A Complete Guide to Credit Card Advantages and Disadvantages

Comments

Post a Comment

Popular posts from this blog

Advantages & Disadvantages Of Credit Card

Image
No matter how fascinating it is to get a credit card, there are still advantages and disadvantages attached to it. Applying for a credit card just for the status symbol will only going to increase expenses for you. In today's time, it is very difficult to choose a credit card among so many options. You need to begin by analyzing your needs and spending habits and choosing the credit cards that suit them. After selection of credit cards, compare them in order to arrive at a credit card that is of the highest value to you. Credit cards can be your friend in need or your biggest enemy depending on how you use them. Without any further ado, here is the complete guide on credit cards along with their advantages and disadvantages. What is a credit card? A credit card is a plastic card having 16-digit numbers on it. It helps in finding you in times of emergencies or shortfall of funds. This gives you the purchasing power and you can use it to aid your online or offline purchases. Cr...
Read more

Things Everyone Should Know About Credit Card Rewards

Image
We all know how difficult it is to get a credit card with so many choices available in the market. You can find the different rewards-based credit cards in the market and not knowing about them before applying for a credit card can be a blunder. In this article, we have covered certain things that everyone should know about credit card rewards before applying for a credit card just for the sake of it. Keep on reading to kick start your research. Choosing the right rewards credit card: You need to understand that credit card rewards come in three types cash back, travel points, and reward points. You need to choose the right credit card that matches your spending habits and helps you save money. Identify your needs and spending habits and then choose the right rewards credit card. Redeem reward points more often: Rewards points come with an expiry date if you do not redeem them timely then you will lose out on a great opportunity to maximize the benefits of your credit card. Do not ...
Read more