In today’s world, you’ve got to have credit in order to make larger purchases like for homes or vehicles. However, making larger purchases when you don’t have the money is a good way to create bad credit for yourself. And while it can be easy to ruin your credit, it’s hard to get your good credit back. So , here few tips to Select a right Credit Card for You
Interest free periods
If you always pay off your credit card in full each month, look for one that offers interest-free days. This means you pay no interest for a certain number of days after making a purchase . These cards may charge higher interest rates and annual fees, but if you pay off your debt within the interest-free period, you’ll avoid paying interest altogether, so the higher annual fee may be worth it.
Annual fees
Annual Fees are included with some cards, so make sure you understand this when you compare benefits . Compare benefits and fees are matching or not .
Rewards Programs
Reward credit cards allow users to earn incentives for making purchases with their credit card. Points accumulate for each penny charged on the card, and cardholders can redeem these points for various rewards. Reward cards usually require better-than-average credit for approval.
Security features
fraud protection are available on most of the cards. Read the details of your card agreement to learn the rules and determine if you are liable for fraudulent purchases.
Discounts :
Some credit card providers offer discounts on goods and services purchased through their own or partner organisations. This can be a great way to save money on items you are likely to purchase, but you should check whether these savings will be outweighed by any fees or higher interest on the card.
Veeramachineni Lalitha
I am Finance Content Writer. I write Personal Finance, banking, investment, and insurance related content for top clients including Kotak Mahindra Bank, Edelweiss, ICICI BANK and IDFC FIRST Bank. My experience details : Linkedin