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Which Credit Card Is Best For You And Why


When it comes to choosing credit cards, you are spoilt for choice. There are hundreds of cards offered by leading banks and non-banking financial companies and it becomes difficult to choose the best credit card for you. However, there are some tips which would help you choose the best credit cards.

Which Credit Card Is Best For You And Why
Which Credit Card Is Best For You And Why

Here They Are:

  • Identify Your Spending Pattern:

There are different types of credit cards designed for different spending patterns. These include the following.
  • Shopping cards which give additional reward points on shopping and have shopping- related benefits.
  • Travel cards which offer great benefits on travel related bookings like hotel bookings and air ticket bookings.
  • Lifestyle credit cards which are designed for lifestyle -related benefits like discounts on dining, free movie tickets, etc.
  • Fuel cards which are suitable for you if you incur heavy expenditure on fuel.
  • Other cards like premium cards, cashback cards, reward cards, student credit cards, etc.

Amidst these cards, you should first understand your spending pattern. If you spend mostly on entertainment, lifestyle cards are better. If, on the other hand, you shop a lot, shopping cards would give you better benefits. So, choose a card which matches your spending pattern for maximum reward points.

  • Understand The Requirement Of The Card:

Find out why you want a credit card. If you want a card to give you good discounts and privileges, hunt for cards with the best offers. If, on the other hand, you want to accumulate reward points for gifts, credit cards with accelerated reward points should be selected. If, however, you are looking to create and improve your credit score by building up a credit history and you are a beginner, opt for simpler credit cards which do not have elaborate eligibility parameters and high joining and annual fees. For instance, ICICI’s Instant Platinum Credit Card can be availed by having a fixed deposit with ICICI Bank. No other parameters are required. So, understand your card requirements before choosing the card.

  • Pay Attention To The Card’s Charges:

Credit cards come with a host of fees and charges which you should not ignore. The first thing to see is the joining and annual fee. Make sure the fee is affordable to be paid. Then you should check the interest rates associated with non-payment of credit card dues. Opt for a card with the lowest charge structure so that paying your credit card bills does not become difficult for you.

  • Ease Of Applying For The Card:

The best credit card for you would be the one which you can easily apply for. When applying for a credit card you have to meet the eligibility parameters of the card. So, check whether you qualify on all the eligibility parameters to avail the card easily or not.

A credit card which suits your spending pattern fulfills the requirement that you seek from availing the card, has low fees and charges associated with it and is easy to apply would be the best card for you. Choosing the best card is important so that you can earn the maximum benefits of the card while keeping the charges low and affordable. So, choose a credit card keeping in mind all these parameters.

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