Welcome to FundooMoney, your 24X7 buddy for all your money matters! You are dealing with a deluge of credit card offers and wondering how to compare credit cards. We provide you with 6 tips that will make your life easy, but that’s coming up in just a little while.
There are a large number of credit cards available in the market. Which one is the best for you? Here 6 things to look for to make the right decision.
Compare interest rate, joining and annual fee One of the first things to do while comparing credit cards is to compare their interest rates. If you revolve the credit i.e, don’t make the outstanding credit card payment by the due date, the outstanding amount will be charged interest according to this rate.
Lower the rate, the better it is for you If you expect limited monthly usage, opt for a credit card with no joining or annual fees. However, if you expect higher monthly spends, joining and annual fees wouldn’t hurt. Most of the credit cards would refund them based on high usage.
Interest free EMI option Most of the prominent credit cards offer interest-free EMI (equated monthly instalment) conversion option on purchase of electronic goods or travel bookings. So, if you anticipate such purchases with your card, consider a card with maximum number of EMI options.
Superior rewards programme Go for a credit card that will reward you for the purchases you will make with the credit card. You will then get maximum reward points. Thus, if you are a frequent flier, look for reward miles tied up with airline of your choice. If you frequently eat out or go for movies, find a card that rewards you for it. Useful offers and tie ups Different cards have tie up with different companies for offers and discounts for their customers. Spot the card with maximum offers and tie ups with your preferred brands.
Ease of credit card payment Ensure that your credit card offers the most number of payment options like cheque, cash, mobile and online payment so that you can manage your bill payment with ease. Customer service quality Go for online reviews of customer service quality of the credit cards you have shortlisted. Based on your assessment for customer feedback, opt for the most customer friendly credit card company.
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