Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Custom Free
     

    Get a card

  • Questions to ask while choosing a Credit Card

    Loading your search...
  • Credit cards are one of the most sought after and versatile financial products being used in the world today. These cards have completely changed the way individuals spend their money. Online transactions are now the norm with most individuals opting for it due to the comfort and ease of doing so. Also credit cards come with a number of offers and benefits. Credit cards work on the principle of providing money on a credit that individuals will have to pay back each month. The lure of added money is always thrilling, however every good thing in excess is harmful. It is very easy to succumb to this temptation and spend more money than one should, thus falling into a credit card debt trap which is very difficult to get out of. Although credit cards have a number of advantages, individuals should always use the same very judiciously. In case someone decides to procure a card, he/she must research properly and find out the right type of credit card for himself/herself. For example, if a credit card comes with no joining fee but provides a lot of fuel exemptions and the customer is not a rider/driver, there would be no point of procuring the credit card just for the purpose of not having to pay the joining fee.

    Questions to the Issuer before Processing the Credit Card Application

    Given below are some of the questions that individuals must answer prior to availing a credit card. If individuals can answer these questions satisfactorily then they can go ahead to procure the credit card of their choice.

    Why is the Individual Applying for the Credit Card

    This is basically to assess the ‘need’ of the customer rather than a ‘want’. Is the credit card going to be beneficial for him/her? Will it help to increase the credit score of the potential cardholder? Does the card come with low fee and a reduced rate of interest? Will the benefits and privileges offered by the card suit the individual’s lifestyle and spend habits? If the answer to all these questions is a ‘yes’, then the customer should go ahead and get the card. But if the card is to be procured on a whim or just because it comes with a lot of freebies, then the reasons are not relevant enough.

    How is this Card in Comparison to other Choices

    It is important to look around and research different card options before settling on one card. Comparing the pros and cons of each card is essential. Certain credit cards may have offers that are tempting such as low rate of interest and no joining fee, but if individuals do not use them judiciously, there is no point. Certain cards may have benefits that is not suitable to the lifestyle of the potential cardholder although the card may be highly rates, which means that the card will not be good for the individual. Also, customers should go for cards that have the least amount of negative feedback or complaints against it.

    What is the Credit Line and Rate that can be procured

    Certain credit cards will provide a range of rates but the window is quite wide. Certain other cards provide a specific rate. Customers should ask for this information prior to settling on one card and push for the range that they would want.

    Can Rewards be Reduced or Revoked

    This is required if individuals are procuring cards solely for the purpose of the rewards being offered. Certain issuers will evoke the rewards in case payment for credit card bill has been delayed. There are also certain instances wherein rewards may be revoked. Hence, if individuals are procuring credit cards solely for the purpose of the rewards being offered, then they must find out all information regarding rewards and when they can be revoked or reduced.

    Can anything that the Customer Charges be used against him/her

    Certain credit card providers use the purchase records of individuals to decide their creditworthiness. For example, if an individual uses his/her credit card to pay for counselling sessions or purchase goods from a market in a disreputable part of town or so on, it could result in their credit limit getting reduced. Some cardholders may see this as an invasion of privacy In such cases, it is always better to ask the provider about all these details before purchasing the credit card. Customer should ask the provider if his/her transaction will be used to rate his/her credit risk.

    What is the Grace Period before which Interest is applied

    The grace period for every credit card varies based on the type of credit card and the company. Although there is a standard credit card grace period, it may differ. Certain issuers impose a heavy rate of interest if the bill is not paid within the due date.

    How is the Individual Protected against Credit Card Fraud

    A lot of regulations limit liability for unauthorised credit card transactions. A number of issuers cap losses at nil unless certain rules are followed. Hence, individuals must find out how the card issuer would handle charges that were not made by the credit cardholder. Does the issuer track charges or block the card if charges that are out-of-the-ordinary are noticed? This feature, if available is great. Customers must also enquire if there are other security measures in place to protect their credit card against fraud.

    How will the Customer be treated in case they Fall Behind on Payments

    Although it may not seem productive, a customer must ask his/her credit card provider how he/she will be treated if the customer runs into financial troubles. Will the individual be hit with a penalty rate or late fee? Will the customer lose any benefits?

    Credit cards will have all their terms and conditions listed on the website of the credit card provider. This must be studied carefully.

    Certain providers have programs that reduce interest rate temporarily for individuals who are experiencing financial troubles whereas others don’t. Hence, prior to procuring a credit card, these conditions should be studied.

      

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Questions while choosing a CC Reviews

    • ICICI Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have ICICI bank credit card which was offered through Bank .I am using this credit card for the past 6 months and the credit limit was really good and it was sufficient as well .This was a free card and there are good reward points as well as cash back offers .I have got the credit card on time without any delay .
      Was this review helpful? 1
      , warangal
      Reviewed on Sep 21, 2019
    • RBL Bank
      RBL Bank Credit Card
      "Need to decrease charges"
      0.5 5.0/5 "Blown Away!"
      I am using RATNAKAR bank Bajaj credit card for more than a year which was applied through an other channel. It is an annual fee chargeable of 1000 rupees. The credit limit is given for 45 thousands which was sufficient. There is an EMI option but charges are high 23%. I use this card for shopping and get reward points.
      Was this review helpful? 1
      , nellore
      Reviewed on Sep 21, 2019
    • HDFC Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have HDFC Bank credit card which was applied through Bank directly .The credit limit was really good and it was sufficient as well and got all the details about the card process very clearly through the agent.This was a free card and got the card on time .Customer service is also good and getting good response if contact for any query .
      Was this review helpful? 0
      , surat
      Reviewed on Sep 21, 2019
    • SBI Cards Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have State Bank Of India credit card which was applied through Bank directly and got it .I am satisfied with the credit limit and got all the details about the card process very clearly through the agent.This was a chargeable card and got the card on time .Customer service is also good and getting good response .
      Was this review helpful? 0
      , surat
      Reviewed on Sep 21, 2019
    • ICICI Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I am using ICICI Bank credit card which i am using for more than 2 years .I have taken this credit card through bank directly.This was a free card and got the details about the card process through the agent.I have got very good credit limit and this card is good to use .I am very much comfortable with the service so far .
      Was this review helpful? 1
      , surat
      Reviewed on Sep 21, 2019
    • Axis Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I am using Axis Bank credit card which i am using for more than 2 years .I have taken this credit card through bank directly.This was a free card and got the details about the card process through the agent.I have got good credit limit and this card is good to use .I am satisfied with the service so far .
      Was this review helpful? 0
      , surat
      Reviewed on Sep 21, 2019
    • Bank Bazaar Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am satisfied with Bankbazaar's service. Bankbazaar is helping me a lot to get credit card. I had come to know about Bankbazaar from Google. I have downloaded their mobile application. I am receiving update credit score and I can check loans and credit card offers.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 21, 2019
    • HDFC Bank Credit Card
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I applied for HDFC BANK MONEYBACK CREDIT CARD. I submitted my documents online. They have closed my application as my credit score is very low. I tried 2-3 times for credit card. My salary account is with HDFC Bank still they are rejecting my application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 21, 2019
    • SBI Cards Credit Card
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I have State Bank Of India credit card which was taken through Bank directly.I am using this credit card for the past 2 years ,This was a life time free card and satisfied with the credit limit as well.There are reward points but no cash back offers .The service was really good and i am very much comfortable to use this card .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 21, 2019
    • HDFC Bank Credit Card
      "Better Service"
      0.5 5.0/5 "Blown Away!"
      I have HDFC Bank credit card which was taken through Bank directly.I am using this credit card for the past 4 years ,This was a free card and i have got a very good credit limit it was upto 1lakh .There are good cash back offers and reward points .I am using this card for mostly for online purchase and i am getting good offers as well.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Sep 21, 2019
    • Axis Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using Axis Bank credit card which was taken through Bank directly .I am using this credit card for the past 1 year .The credit limit was really good it was upto 40,000 and it was very much comfortable as well.This was a chargeable card and having good reward points as well as cash back offers.
      Was this review helpful? 0
      , dhuri
      Reviewed on Sep 20, 2019
    • Bank Bazaar Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have been using Bankbazaar's mobile application for a long time. I am using it to my account details, loans and credit card offers. I am really satisfied with their services. I have come to know about Bankbazaar from a promotional message.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 20, 2019
    • HDFC Bank Credit Card
      "Average Service"
      0.5 4.0/5 "Great!"
      I have HDFC Bank credit card which was offered through Bank .I am using this credit card for the past 1.5 years.The credit limit was good and it was acceptable as well. There are really good reward points as well as cash back offers ,This was a free card and it is very easy to use and it was smooth as well .
      Was this review helpful? 0
      , madurai
      Reviewed on Sep 20, 2019
    • HDFC Bank Credit Card
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I had applied a MONEYBACK CARD from HDFC Bank. I had arranged the documents to submit. I called them many times but their number was not reachable. I just spoke to them one on the phone once. One of their executives told me that they don't give loan to security guard.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 20, 2019
    • Bank Bazaar Credit Card
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I have been using Bankbazaar's service for the last 2-3 years. I have downloaded their mobile application to check credit card offer and loans. It's very useful. I had come to know about Bankbazaar when I received a promotional message to check credit score.
      Was this review helpful? 0
      , noida
      Reviewed on Sep 20, 2019
    • HDFC Bank Credit Card
      "Average"
      0.5 4.0/5 "Great!"
      I had applied HDFC BANK MONEYBACK credit card. Their executive called and informed me that my application has been closed because my employer is not private limited. I submitted my documents online. Their customer service was good, they gave me proper information.
      Was this review helpful? 0
      , noida
      Reviewed on Sep 20, 2019
    • SBI Cards Credit Card
      "Good Card"
      0.5 4.5/5 "Excellent!"
      Last two years I am using SBI simply save card, its easy to access any where either in all the swiping machine. It has yearly fee around Rs.2500, they have airport lounge, travel discounts, they do have cash back at amazon, flipkart and other sites.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 20, 2019
    • HDFC Bank Credit Card
      "Best 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 1 year .This was a free card and the agent gave all the information about the card process.I have got the credit card on time and the credit limit was good .I have not submitted any documents since it was a paperless approval .
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 20, 2019
    • Axis Bank Credit Card
      "Benefits should be improved"
      0.5 2.0/5 "Expected more"
      My master privilege card has yearly fee of Rs.1500, Its a basic card for regular usage. Some time I get fuel surcharges around 2% but its not so beneficial , I am getting reward points based on my spend. For 100 rupees I get 4 points is equal to one rupee.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Sep 20, 2019
    • Axis Bank Credit Card
      "Good for cash back"
      0.5 5.0/5 "Blown Away!"
      AXIS bank upgraded my credit card feature in my seven years of experience, earlier I had my zone card now I got classic signature card it has yearly fee of Rs. 5000, they give same value of Rs.5000 cash back for shopping purpose like big bazaar and they do have airport lounges, air miles.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Sep 20, 2019
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.