Credit Card is one of the most useful banking products that has emerged in the past years. Gone are those days when people used to treat it as a piece of plastic, nowadays the worth of a credit card has become much higher. There are several banks and financial institutions that provide a range of credit cards to customers across different categories. But there is a question that still bothers customers — ‘How to Choose the Best Credit Cards in India for themselves?’ One of the main reasons behind this question is the abundance of options.
Let us make you understand this. You are bound to be confused when you have several options. And when it comes to credit cards, it is important to choose a card that suits your lifestyle and spending habits. It would be a waste of the card’s features if it cannot support your lifestyle habits. This is why it is advised to closely look at the type of credit card you want and choose carefully. In this article, we will be telling you about the factors that you should keep in mind if you want to know how to choose the best credit cards in India. So, keep reading to know more.
Factors that help Choose Best Credit Cards in India
When an individual looks for a credit card, a few important factors determine the best credit card for customers. That’s why it is important to keep a look at them and know better. We are showing some of them below.
Spending Habits and Lifestyle
As we said, Banks provide credit cards in a wide range of categories such as Travel, Entertainment, Shopping, Medical Expenses, etc. So, before choosing the best credit card for yourself, it is important to know which category you like to spend most. For example, if you are someone who likes to Dine frequently, the best dining credit cards would be suitable for you. On the other hand, if you like to do shop most of the time, a Travel Credit Card wouldn’t be perfect. So, first, analyze your spending habits and then compare the options at your disposal.
Each credit card provides a range of benefits as soon as you join. These benefits are known as Joining or Welcome Benefits. Best Credit Cards in India make sure that a customer gets as much as benefits when choosing the right card. These joining benefits may vary from one credit card to another depending on the bank you are choosing. If you like to enjoy a range of joining benefits, choose wisely.
Reward Points Programs
There is a popular program among the credit card providers known as the Reward Points Program. When you spend with your credit card, you get reward points on each transaction. The frequency of reward points may differ from one category to another. So, if you want to have the best credit card for yourself, always choose the credit card that can give you the highest reward points on the category you spend most. The best thing about these points is customers can redeem them against a range of gifts and also against the cashback. For example, if 1 Reward Point is equal to INR 1, and you have 500 points, you can pay your bill of INR 500 with these points.
Credit Cards in India also provide milestone benefits. If a customer achieves the pre-decided milestone related to spends with his or her credit card, he or she can get some of the amazing rewards. These milestone benefits vary from one credit card provider to another. Sometimes, these milestone benefits help customers in waiving off the Annual or Joining Fee of their credit card.
Annual and Joining Fees
Some Credit Card providers ask for an annual and joining fee while some don’t. Best Credit Cards in India give a range of offers with which customers can get their fees waived off. So, always look for such credit cards.