Nowadays Credit Cards are the most important piece of our wallets.
Not owning a card is like losing the opportunity to save on shopping & while spending online.
A few cards also give you to touch of a premium and luxurious lifestyle.
But such cards cost high for every individual.
So for anyone who wants to apply for his/her first credit card or wants to re-apply for another new credit card (Maybe 2nd, 3rd, or 4th), It’s quite confusing to choose the best card.
What are the points you should keep in mind while applying for any credit card?
It’s not necessary that the same card used by your friends & family members will be good for you!
Because everyone has their own requirements while applying for credit cards.
How To Choose Your Best Credit Card?
Why Do You Need A Credit Card?
Credit cards or plastic money is an advance loan given by any bank to you.
You can use your card to make payments to any seller/merchant whenever you buy something.
But while you are going to apply for your next credit card always think about your card requirements (Why You Need It?).
Because if your requirement is for a travel credit card then applying for any shopping or rewards credit card will not be worth it for you.
Instead of keeping too many credit cards, you should go for limited options.
This practice will also help you to keep your credit score healthy for future financial requirements.
You should do a short research about the best credit cards available in the market for different income people in the chosen category.
Many times people only get attracted by the Card Features/ Design/ Name/ Rewards/ Welcome Gift etc.
But applying for any credit card will not help you to fulfil your requirements.
Because every bank has multiple credit card options in different categories like Travel, Fuel Cards, Shopping, Airlines, Rewards, Cash Back, Balance Transfer, etc.
So you should choose the best credit card which suits fit your requirements.
Have You Paid Your Existing Debts?
Always try to clear your existing debts or dues while applying for any new credit card.
Because every time whenever you apply and receive your Card or Loan your liability gets increases.
As we discussed earlier you should keep limited credit cards for easy access to any financial product in the future.
With any special category card, you can choose another credit card from a multi-purpose card category.
Income & Eligibility :
Every Bank has different income criteria for each card.
So whenever you go to apply for a new card always look for the best option in the segment.
Because in every bank many cards fall under one income criteria.
Sometimes a bank representative will suggest you a card that can give you so many luxurious benefits with a fixed high annual fee.
But do you really need such a card? or you can manage with a medium-range credit card that charges you a minimum fee.
And this fee can be waived if you spend a suggested amount through the card.
Never apply for any card by just seeing if someone else is using the same.
- 11 Best Credit cards For Beginners In India.
- 5 Super-premium Credit Cards In India.
- 15 Best Credit Cards For Regular Use.
- 11 Best Low Salary Credit Cards In India.
- 7 Best Credit Cards For Shopping In India.
- 5 Best Credit Cards For Fuel In India.
- SBI Simply Save Credit Card.
