Top 6 Tips to Compare Credit Cards and Their Offers

Compare Credit Cards

One of the fundamental alternatives of liquid funds, credit cards have become a vital financial tool for most individuals in this country. With the total amount of credit cards expected to cross 50 million in 2019, financers are aiming to attract more new users by providing better offers and benefits on these cards.

A credit card can substantially increase the earning potential of the user. An individual should however compare credit cards as per the following factors to avail one as per his/her financial requirements –

  1. Credit limit – Credit limit is the pre-determined limit of funds that a financial institution provides to their customers. An individual is subjected to utilise such funds within the limit, and by repaying the utilised amount, they can again use their credit card.
  2. Interest rate – A borrower who fails to pay their credit card debt at the end of the billing-cycle and grace period is subjected to pay interest to the financer. An applicant may face unforeseen circumstances for which they fail to pay their credit card debt; for such circumstances, it is advisable to check different interest rates applicable. An individual should compare credit cards based on which financial institution can provide a relatively comfortable interest rate.
  • Emergency loan – One of the fundamental benefits of availing a credit card is that an individual can avail loan an emergency loan against the credit card. Such emergency loans are interest-free for up to 90 days on select feature-rich cards offered by top financers.
  1. Charges – An individual can compare credit cards on the ground of additional charges such as joining fee, annual fees, etc. NBFCs like Bajaj Finserv, offers fast approval with minimum charges on the credit card application of their customers.
  2. Security – Security is an essential point an individual should consider to compare credit card. Security measures like ‘in-hand security’ and ‘zero-fraud liability cover’ are included in credit cards to alleviate fraudulent activities.

Individuals who avail a Bajaj Finserv RBL Bank SuperCard can benefit from these in-built security features.

  1. Reward points – Credit cards are a type unsecured personal loan which a borrower can utilise on emergency. Other than that availing a credit card and paying dues regularly can increase an individual’s CIBIL score. Furthermore, an individual can earn rewards by regularly utilising their card. Such credit card offers can be redeemed while purchasing products like clothes and accessories.

An individual can avail other exclusive benefits of a SuperCard like discounts on their transactions and buy vouchers. Other than that a borrower can avail various other customer loyalty programs like airport lounge facilities.

To avail, the benefits a credit card an individual is required to meet a few eligibility criteria –

  • The applicant should be an Indian citizen.
  • He/she should be in the age bracket of 25 to 65 years.
  • He/she should have a residential address within the card issuer’s outreach.
  • He/she should hold a CIBIL score around or above 750.

Most financial institutions provide credit cards with numerous benefits and features, but an individual should compare credit cards before application. By choosing the right credit card for yourself, you can avail the benefits that suffice your requirements.