Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Questions To Ask When Getting Your First Credit Card

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  • Plastic money has brought in great convenience in the fast-paced life of people. Be it an online purchase or a regular one, monthly bill payments or fancy dine-outs, plastic money has become the sine qua non of the present generation. Debit and credit cards are now an essential part of people’s wallet because of the convenience they offer while making a transaction. Credits card, especially, has its own appeal as it gives buyers the power to purchase without worrying about draining out the bank balance.

    If you are planning to get a credit card for the first time, there are a few things that need to be considered before applying for a card.

    1. Do you need a credit card?
    2. The most important question one needs to ask before applying for a credit card is if taking a credit card is that important and why. Credit cards have their advantages and disadvantages. While for people like frequent travellers it is usually a better idea to carry plastic money instead of cash. However, it would be irresponsible on an individual’s part to take up a credit card to go for shopping or indulge in unnecessary spending as it might lead to heavy debts. Credit cards can be useful in case there is an emergency, and the bank account is low on cash. However, it is always good to be judicious while taking a decision that involves money. One should weigh the pros and cons of taking up a credit card before applying for one.

    3. How to choose the right card?
    4. Next important question that one needs to ask himself/herself is which type of credit card might serve his/her purpose better as banks provide various types of cards based on the requirement and lifestyle of an individual.

      For first-time credit cardholder, this question should come above anything else because –

      • He/she has no credit history.
      • He/she must consider only that type of credit card that is suitable for his/her lifestyle.

      Different credit companies offer different kinds of reward programmes, cash back options on the credit cards. So, it is better to know about these categories and then select from the one that best serves the purpose and gives maximum benefits and privileges.

    5. How does a credit card work?
    6. A credit card allows the user to take a short-term loan of a limited amount. However, unlike other loans, interest charges may or may not be levied on the loan amount depending on the fact how timely the due is being paid off by the cardholder. The credit card is billed each month according to the expenditures made on the card. The money spend is regarded as the outstanding amount that one needs to pay before due date which is set by the card companies. Any delays in paying the debts might result in an expansive interest rate being added to the current dues.

    7. Is there a joining fee and annual fee to take a credit card?
    8. Since there are different types of credit cards, not all have a joining or annual fee associated with it. If there is a fee, make sure it is accompanied by ample reward programmes like reward points, fuel surcharge waivers or free fuel, air miles, and many more. Therefore, before getting a credit card for oneself, comparing all the reward programmes and privileges and benefits offered by different credit card companies is a prerequisite.

    9. Do credit cards build up the credit score of the users?
    10. A credit score is a count that shows a person’s creditworthiness. The Credit Information Bureau allots this score where the lowest point is 300, and the highest is 900. If an individual has applied for a loan, banks take into account this credit score very seriously. Depending on the credit score, banks decide the interest that should be offered to the applicant.

      Credit card history does influence a person’s credit score because it shows the credibility of the person as a borrower. Therefore, before getting a credit card, one should consider his/her spending patterns, and how regularly can he/she pay off the dues incurred every month. The better the paying behaviour is, the healthier the credit store will become.

    11. What is cash advance and cash limit?
    12. A cash advance can prove to be a great feature in times of emergency as it allows the users to withdraw cash from the ATM using a credit card. The cash advance has a limit which is usually lower than the credit limit. However, interest levied on a cash advance is pretty high and one should really think twice before taking the step and keep the option only as a last resort.

    13. What are the late payment fees on credit cards?
    14. If a credit cardholder fails to clear the outstanding amount, credit card issuing companies levy a late payment fee if the dues remain unpaid for three or more days after the last payment date. This late payment charge depends on the banks and may vary from one bank to the other.

    15. What happens when you only pay the minimum amount due?
    16. To avoid paying any interest charges, cardholders can settle the credit card dues before the last payment date by paying the full amount. However, if one opts to pay just the minimum amount to keep the card active, an interest charge will be levied on the remaining amount due. Therefore, it is always better to pay off credit card dues with the due date.

    17. Are there any hidden charges?
    18. Usually, there are no hidden charges associated with a credit card. However, if an individual is applying for a credit card for the first time, it is for his/her interest that he/she should thoroughly read the statement papers to know about charges and fees associated with a credit card. Although the fixed rate of purchasing a credit card is minimal depending on the company policies, but it is the interest rates levied on the outstanding amount that can prove to be expensive.

    19. Which are the institutions that offer credit card deals in India?
    20. ICICI Bank, State Bank of India, IndusInd, HDFC, RBL, Standard Chartered Bank, Axis Bank, Citibank, Kotak Mahindra Bank, Bank of Baroda, ABN Amro, and American Express are some of the major banks that offer different types of credit cards in India.

      Finally, when the pros and cons have been weighed, one can apply for a credit card which he/she can do either online or by visiting any nearest branch of the bank he/she chose to apply.

      If the individual has taken a loan, then he/she should make sure that the credit score is at least 750 to maximise your chances of being approved. If the score is low, then he/she should take time to improve it before applying for a credit card.

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    Questions To Ask When Getting Your First Credit Card Reviews

    • IndusInd Bank Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I received a card on time which was applied through an online with INDUSIND bank. It is a life time free credit card. The credit limit is given was okay because I was expecting more than that. So far no issue faced by using this card. Their service is good.
      Was this review helpful? 4
      , mumbai
      Reviewed on Oct 17, 2019
    • HDFC Bank
      HDFC Bank Credit Card
      "Need to enhance the credit limit"
      0.5 3.0/5 "Satisfactory"
      For the past 2 years I am using HDFC BANK credit card for more than 2 years with low credit limit of 21 thousands only for 2 years I am using this card yet they have not enhance it. It is a life time free credit card. EMI option is applicable and charges are nominal.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 17, 2019
    • SBI Cards Credit Card
      "Need to enhance the credit limit"
      0.5 3.0/5 "Satisfactory"
      I have been holding SBI credit card for more than 3 years. It is an annual fee chargeable of 2000 rupees and there is no option for a waiver off. The credit limit is sufficient for 50 thousands only. EMI option is applicable for this card and it is nominal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2019
    • ICICI Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have ICICI Bank credit card which was taken through Bank directly .I am using this credit card for the past 2.5 years ,The credit limit was very less and there was no difficulties faced so far ,I have got the credit card on time without any hassle and this card is really good to use .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 17, 2019
    • IndusInd Bank Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The reason for taking Indusind Bank Ltd credit card because of the higher credit limit. I have used the card and made a payment as well without any difficulty. The credit limit is more than sufficient. They did not inform me about the reward points. The documentation process is easy.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 17, 2019
    • RBL Bank Credit Card
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I am holding RATNAKAR BANK credit card for more than 2 years. It is an annual fee chargeable card of 1000 rupees and there is an option for a waiver off for a certain amount of usage. EMI option is applicable and charges are nominal. I use this card for many purposes.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 17, 2019
    • IndusInd Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have Indusind Bank credit card which was taken through Online .I have got the credit card on delay basis it took 1month time that was the difficulty faced by me .The credit limit was good and this was a free card .I am really satisfied with the service so far .There was no cash back offers and reward points .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 17, 2019
    • Citibank Credit Card
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have Citi Bank credit card for the past 1 year .I am using this credit card for the past 1year .I have got all the required details about the card process ,I have got this credit card on time without any hassle .The credit limit was pretty good and there was no drawbacks faced .I am satisfied with the service .
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2019
    • RBL Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have Ratnakar Bank credit card which was taken through Bank .I am using this credit card for the past 1 year and it was a chargeable card ,I have got my credit card on time without any delay .The credit limit was really good and there was no drawbacks faced .I am realy satisfied with the service .
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2019
    • SBI Cards Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I have State Bank OF India credit card which was taken through Bank direclty.I am using this credit card for the past 6 years .I have got good credit limit and there was no difficulties faced while using tis card .It is very easy to use and very comfortable as well .I am satisfied with this credit card so far.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 17, 2019
    • HDFC Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have HDFC Bank credit card which was taken through Bank.I am using this credit card for the past 6 years .I have got all the required details about the card process ,I have got my credit card on time without any details .The credit limit was really good and there was no drawbacks faced .I am totally satisfied with the service .
      Was this review helpful? 2
      , mumbai
      Reviewed on Oct 17, 2019
    • IndusInd Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using Indusind Bank credit card which was taken through Online .The credit limit was very good it was upto 1 lakh it was sufficient .I have got all the required details about the card process.I have not faced so far on using this card .This was a free card .I am totally satisfied with the service .
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2019
    • Kotak Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have Kotak Mahindra Bank credit card which was taken through Bank .I am using this credit card for the past 4 years ,This card is very easy to use and there was no difficulties faced so far .I am really satisfied with the service .I am comfortable with the service so far.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 17, 2019
    • RBL Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have Ratnakar Bank credit card which was taken through Bank directly. I am using this credit card for the past 1 year and got all the required information about the card process very clearly . This was a chargeable card and the credit limit was really good and it was 1,52,000. I am completely satisfied with the service.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 17, 2019
    • IndusInd Bank Credit Card
      "Need to enhance the credit limit"
      0.5 5.0/5 "Blown Away!"
      I received a card on time which was applied through an online with INDUSIND bank. It is a life time free credit card. The credit limit is given for 75 thousands which was low because I was expecting more than a one lakh. EMI option is applicable. I have been using this card for shopping, fuel and restaurant purpose.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2019
    • SBI Cards Credit Card
      "Very Nice to use"
      0.5 3.0/5 "Satisfactory"
      In SBI, they are providing a voucher if i pay the annual fee of Rs. 3000 and if i use more than Rs. 5000 yearly, the annual fee is getting waived off. In SBI, i have a prime card. They gave me a credit limit of Rs. 50000. Customer care service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2019
    • IndusInd Bank Credit Card
      "Very Good to use"
      0.5 5.0/5 "Blown Away!"
      They have given me a nice offers and the rewards points will be nice when I'm getting in a shopping. I have got the credit limit of Rs. 1 lakhs. There is a annual fee of Rs. 3000 but i can pay this by using the rewards points. I have got the first month bill and i have to pay on 24th of this month. The statement is clear to understand.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2019
    • ICICI Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have ICICI Bank credit card which was taken through Bank directly.I am using this credit card for the past 4 years and got all the required information about the card process very clearly .This was a free card and and there was no difficulties faced so far on using this card .
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 17, 2019
    • SBI Cards Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have State Bank Of India credit card which was taken through Bank.I am using this credit card for the past 4 years.This was a free card and there are good reward points as well as cash back offers .I have submitted the required documents very clearly .There are good reward points as well as cash back offers .I am satisfied with the service so far.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 17, 2019
    • IndusInd Bank Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have applied for a credit card with INDUSIND bank on two months before which was processed through an online. Within 2 days I received a call from their end once verification completed by 15 days I received a card. The credit limit is low as per my requirement. EMI option not aware. There was some requirement so I have chosen to apply for it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2019
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