4 Steps To Compare Credit Card Offers

  Author: Naveen Kumar

When choosing a credit card, there are many options are many options that you will come across. Several banks have different types of credit cards on offer. Such a wide range of choices can make the task of selecting the right credit card quite confusing. But don’t worry because here are 4 steps that will help you to get the credit card that suits your needs.

 Go for multipurpose cards Having one credit card each for a different purpose could mean too many cards for you. This might make it difficult for you to manage them. Instead, have fewer credit cards with comprehensive features that meet most of your needs.

Check annual fee and charges This includes interest rate if you revolved credit, EMI conversion besides charges like processing fee for balance transfer. Remember, there are many credit cards which offer great cashback but have a high annual fee. They are suitable only for those with high spending patterns through their credit card. So, check if the card matches your spending behavior.

Examine the reward rate and value When comparing different credit cards, find out the reward rate offered by the credit card company i.e. reward points for various amounts of purchases. If you are likely to accumulate more reward points for your typical expenses, the credit card providing rewards for such expenses will be more useful to you.

Ensure that each reward has good value in actual rupee terms. You need to go through catalogue of the credit cards to verify the value of each reward. Opt for a credit card that offers the maximum rupee value of rewards for your typical expenses.

Adequate credit limit Go for a credit card that offers you a comfortable credit limit. Otherwise, you may not be able to benefit from it in terms of making purchases through it. This will be despite it having some great features.

Keeping the above points in mind will help you narrow down your options and choose the credit card that best suits your needs. So, all the best for your credit card hunt.

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