How to Choose the Right Credit Card Matching Your Needs?

Credit cards are the best spending vehicle when you run short of cash for an urgent need. In developing countries like India, Credit Cards have become popular due to its convenience, safety and ease of use. With the popularity of Digital India, more and more people are opting for electronic modes of payment.

While there are plenty of credit cards for varied purposes, one might be confused which one to pick. To help you out, CreditMantri presents its views through this article on choosing the credit card matching your credit profile.

Are You a Shopaholic?

If you do frequent shopping either online or offline, there are credit cards designed exclusively for shopping purpose. Each bank has introduced unique shopping credit cards with the offers of cashback, reward points and discounts. Do a background research on the shopping credit cards and sort them out from each bank. The lenders have tied up with the specific retail shops, brands and merchants. If the features and offers on the card match your usage, you can choose it to enjoy the benefits.

Are You a Frequent Rider?

If you mostly travel on your own vehicle, you may have to spend so much on fuel consumption. There are credit cards that offer fuel surcharge waiver which can considerably reduce your expenditure on fuel. Before opting for such cards, make sure that your credit card is accepted across all petrol pumps else you might lose out the benefits

Are you a Traveller?

There is plethora of offers and reward points on credit cards for people who are frequent travellers. From complimentary lounge access at airports to reward miles, cashback and bonus points on hotel and ticket bookings, travel credit cards guarantee convenience and safety.

The benefits of using credit cards in foreign countries are enormous. You can use them across the world for any transactions which relieves you from the hassle of converting the currency. From a wide range of travel credit cards, pick up the one that suits your exclusive needs.

Are You Keen on Saving?

A credit card is the best money saver when used judiciously. If you are keen on saving on your every purchase. You can do it with a credit card. This category of credit cards offers you only cash back on your every spend. You can use the money to pay back on your outstanding balance.

Credit Cards for Rewards

This category of credit cards accrues reward points on your every purchase. You can redeem the reward points at certain retail outlets for appliances, vouchers, gadgets etc.

No Annual Fee Credit Cards

Credit cards with no annual fee can save you a lot of money. Some credit cards charge no annual fee when you spend more than a specific amount on purchases.

Bottom Line

There are credit cards for all reasons. You must carefully compare and analyse each card and pick up the one right for you. Before choosing the card, read the terms and conditions fully to avoid any complication in the future. Compare the rate of interests and free payment periods. Pay your bills in full to avoid additional interest on your outstanding balance.

Reap the benefits in full by judiciously using your credit card.