Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Which Credit Card is Right for You?

    Most of us don’t know we have a choice between different credit cards. The credit card offered to us is the one we accept. But choice is our fundamental right. Banks of India actually provide a dizzy assortment of cards that carry specialized benefits that range from rewards, cashback and shopping to miles, fuel and entertainment. Choosing the perfect card for you can make all the difference between enjoying benefits that are perfect for you or getting benefits that make no sense to you. There’s no perfect card in the world that can be rated number one. The number one card for you depends on your preferences and tastes.

    Types of Credit Cards:

    Banks offer different cards to suit the varied tastes and preferences of customers. You need to identify which category you prefer the most to find out which credit card is right for you. You need to identify who you are rather than who you want to be. The main types can be categorised as follows:

    • Shopping – If you like to shop, lifestyle cards will offer you a number of benefits that include deals, discounts, cashback and rewards. Many times, banks partner with stores to bring you fabulous deals that you will not be able to resist. These cards may also give you access to exclusive sales, previews and more. Shopping cards are not limited to retail shopping. Cards are designed for groceries and household needs. With these grocery cards, homemakers can enjoy deals while they look after their home and family.

    • Travel – There’s a difference between a person who loves to travel and a traveller. If you actually travel a lot on business or on pleasure, you can earn a number of rewards by spending on your credit card. If you’re a person who loves to travel, but doesn’t actually get down to doing it, this card wouldn’t be the best for you. Travel cards let you earn miles when you spend. It also might provide you great insurance cover for your life, baggage and travel time. These cards may also provide access to lounges and concierge services like flight, hotel and cab bookings.

    • Entertainment – Do you like going out? If you like clubs, dinners, movies, concerts and more, you could get discounts, complimentary drinks, free tickets, exclusive invites, and earn rewards on your spends.

    • Fuel – If you find yourself filling up your gas tank often, the fuel cards could benefit you. You will get fuel surcharge waivers. You can earn credit card reward points when you spend on fuel and related products. Make sure you know the details of your credit card. Some cards require you to fill up only at specific petrol pumps or swipe on the bank’s specific machine.

    • Others – There are a number of other unique cards that are designed to suit special needs. There are rewards cards, cash back cards, student cards, golfing cards, educational cards, and more. Choose the card that you feel would be apt for you.

    Choose the right Card from the Right Bank:

    Apart from choosing the right card, you need to choose the right bank. Many banks may offer you credit cards. You could choose the bank with which you maintain your savings or current account. There are other banks that allow you to take cards without having an account. You can find out about the credit cards you are eligible for by using websites like BankBazaar. You can then view and compare different offers to find the best card for you.

    Know the right details:

    While selecting your ideal credit card, look at the details. Some of the important information you need to be aware of has been listed below.

    Billing cycle - Banks usually set the billing date as the 15th or 20th of every month. Knowing this date is important to get a longer interest-free cycle. If you’re interest free credit period is 45 days and the billing date is 15th, then when you make a purchase on 14th, it will be billed the next day and you do not have a long free credit period. If you make the purchase on 16th, you will get the full 45 days to pay your bill back.

    Interest rate - You are charged interest only when you carry forward a balance. If you pay your bills in full, you will never incur interest. So if you are one to pay your bills on time and in full, interest rates shouldn’t matter much.

    Annual Fees - Most credit cards carry an annual fee, joining fee and renewal fee. If you are one to use your credit card sparingly, go in for a credit card that does not carry annual fees. Some cards waive the annual fee if you spend above a certain limit. So if you are a big spender, you needn’t worry about the annual fee.

    Late Payment charges - Be aware of how much your bank charges if you miss the payment due date. Banks also increase your interest rate when you default on a payment.

    Cash Credit - Cash credit usually carries high interest rates and no credit free periods. So cash should be withdrawn only if absolutely needed. Know the details before you use your credit card to withdraw money.

    Rewards - If your bank is offering reward points, don’t be taken away by how many points you can earn on your credit card. Credit card reward points are just a small reward for spending on your card. You can usually earn 1 point for every Rs. 100 you spend. You can redeem these points at an average rate of 1000 points for a Rs. 250 - Rs. 500 voucher. So it might cost you Rs. 1 lakh to earn a voucher worth Rs. 500. You can view reward catalogue before you apply for a credit card to see if your rewards are worth it.

    Tips:

    • Know what kind of customer you are and which type of card will benefit you more.
    • Choose a bank that offers you what you require. Don’t let the bank choose you.
    • Research online between different banks, or use websites like BankBazaar to make comparisons.
    • Always make an informed decision.
    • If you choose to apply for a credit card through a telecaller, don’t hesitate to ask for the required information. Don’t let yourself be pressured into the wrong card.
    • Credit Cards come with great responsibility. Don’t take it lightly.
    • Spend only what you can pay back.
    • Pay your bills in full to be free from interest charges.

      

    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.

    Which Credit Card is Right for You Reviews

    • SBI Cards Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am holding the credit card of SBI CARD they have offered with the satisfactory credit limit also the card has the good offers with this card which is satisfactory with this card. The payment reflects very quick with the card also there is a EMI option.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2019
    • Bank Bazaar Credit Card
      "USERFRIENDLY PORTAL TO USE"
      0.5 4.0/5 "Great!"
      Bankbazaar.com it is the first time experience as i am using it without any hassle process. I prefer using it through the mobile application as the application is user friendly also it is convenient to access. The customer support and responsiveness is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2019
    • SBI Cards Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      SBI has benefit of balance transfer option which can be used for card payments and its converted into EMI for 3 or 6months. Earlier used platinum card which has 3K annual charge without knowing used 2 years requested for new card then given simply save credit card with Rs.500 annual fee but reversible. The helpline number get connects easily and proper response. The charges are normal 3.5%.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2019
    • SBI Cards Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      There are no issues with the SBI CARDS where i am using it since from last few years. There are no charges applicable with this bank card for any of the hidden charges. The credit limit gives was satisfactory also the card is user friendly and convenient to access.
      Was this review helpful? 0
      , thane
      Reviewed on May 19, 2019
    • HDFC Bank Credit Card
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      The credit limit is lesser and expecting for hike with this card where i am using it with the HDFC BANK, there is a EmI option is available, the billing date is 5 and they are debit delay and there are hidden charges are there. Using from last 2 years this card.
      Was this review helpful? 0
      , thane
      Reviewed on May 19, 2019
    • Bank Bazaar Credit Card
      "GOOD PORTAL TO USE"
      0.5 5.0/5 "Blown Away!"
      It is the first time experience with the Bankbazaar.com as i have been using it through the website as the portal is convenient and it is user friendly to access. The customer service is good and they are responsive also they are good.
      Was this review helpful? 0
      , thane
      Reviewed on May 19, 2019
    • Axis Bank Credit Card
      "Better card"
      0.5 3.0/5 "Satisfactory"
      I am using Axis Neo credit card and am satisfied with the credit limit of 1.20L. I have received the card in 2004 and am not using much. Its a life time free credit card. The customer service is good but they are not fulfilling customer requirement. The payment mode is online.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2019
    • Citibank Credit Card
      "BETTER"
      0.5 3.0/5 "Satisfactory"
      The documentation process was simple and easy to get the card with the CITIBANK. The credit limit is lesser with this credit card, it is a payable card for yearly once. I am getting no offers with this card and i have started using it from last few months.
      Was this review helpful? 0
      , thane
      Reviewed on May 19, 2019
    • HDFC Bank Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got a limit of 1.75L on my HDFC credit card and its a life time free. The services are superb and its a No.1 bank. I get online discounts during festival season. Its easy to understand terms and conditions, contacted the customer service which is toll number. I get immediate response and have another number but the procedure was lengthy to connect with the executive. There is no hidden charges.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2019
    • Citibank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      I have been using rewards card from Citi Bank for last 6 years. I get reward points for transactions, On spend of 100rupees=1point=0.25p where other bank conversion rate is high. The credit limit is low and annual charges waiver off is given.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2019
    • Bank Bazaar Credit Card
      "Better"
      0.5 4.0/5 "Great!"
      I have installed the mobile app of Bankbazaar.coma and am using the portal for long time to know some information which is easy to operate. I have applied the card for first time and the process is very much simple and convenient. Overall hassle free.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2019
    • American Express Credit Card
      "Need to increase the limit"
      0.5 4.0/5 "Great!"
      American Express is prompt in their card delivery, am using the card. The credit limit is low of 25K and need to increase the limit for higher level card. They are charging annual fee of 499 rupees. I got the first bill with annul fee+ GST and made it online.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2019
    • Bank Bazaar Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken the credit card for a first time with Bank Bazaar and its good. The customer service has contacted me and got a regular follow ups. I have used the mobile application which was simple to access. Overall it was good and satisfactory.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2019
    • IndusInd Bank Credit Card
      "Average"
      0.5 4.5/5 "Excellent!"
      I have received the credit card on time from Indusind Bank Ltd and I don't find any delay on their service. The credit limit is good for me. The annual fee is not there but need to pay joining fee for one time which is 1000 rupees. I have used the card once and the bill is generated. The payment mode is easy. It does not have an offer of buy one plus one movie ticket on bookmyshow.com basically the benefits are lesser.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2019
    • SBI Cards Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am using the SBI CARD which is a FBB card where i get the good offers with the FBB purchase also i get the good offers in this card. the credit limit is lesser also it is not satisfactory. The customer support is good and they are responsive, it is a good banking.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • SBI Cards Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am using the credit card with the SBI CARDS where the card is payable card which is 800 rupees with this card. The application is easy and it is good to use the card also the website is also good with this bank. The payment option is good with this bank.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • HSBC Bank Credit Card
      "AVERAGE"
      0.5 2.5/5 "Just OK"
      The card is not user friendly and not in fuel offers with the HSBC BANK, unable to change the pin with the ATM, i am getting offers with the book my show which is buy 1 get 1. Application is not good and it is slow and there is no ATM is available with this bank.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • ICICI Bank Credit Card
      "Better "
      0.5 4.5/5 "Excellent!"
      I am using ICICI Credit card for last 3 years. I am happy with the credit limit and never gone for enhancement. They don't charge annual fee always. I got reward points and cash back offer for purchasing online. I get one movie ticket as free for every month. The customer care is very supportive. Once I tried EMI and the charges are little high.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 19, 2019
    • Bank Bazaar Credit Card
      "CONVENIENT PORTAL TO USE"
      0.5 4.0/5 "Great!"
      It is the first time experience with the Bankbazaar.com as i am using it through the mobile application as the application is easy and user friendly to access. The customer service is good and they are responsive with this channel by explaining the details of the card.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • YES Bank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      It is with a life time free card so i have taken the card with the YES BANK. The documentation process was simple and easy to get the card with this bank. The credit limit is satisfactory and it is a free card. I am getting rewards points but not aware of the points.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
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