Credit cards have, over the years, become a popular and convenient mode for most of us to make payments. It can help you improve your credit score, can fund emergency needs without having to depend on your friends and relatives, offers you perks that can make up for the joining and annual fees, meanwhile also offers you great discounts and cashback offers on different platforms. You can even use credit cards to buy expensive items on EMIs.
Today there are many different kinds of credit cards available in the market to cater to the varied needs of customers. But the experts suggest that one should always buy credit cards that match their spending habits so that they can save more on daily expenses with the help of reward points and a combination of different cashback, discounts, offers, etc. We understand there are several people out there that often find it difficult to zero in on the perfect credit card for themselves. For those people, we are going to share tips and questions to ask yourself on how to choose the right credit card for yourself.
What is your lifestyle?
Analyzing your lifestyle will help you narrow down the best hdfc credit card that you should go for. For example, the HDFC Bank Diners Club Credit card is best for those who are frequent flyers as it gives a range of benefits to users, such as free lounge access, priority boarding, etc. One is also given the option to earn miles that you can convert to free flights. If you are someone who likes to eat out and socialize regularly, opt for a card that offers a better dining experience and great discounts at restaurants. The bottom line, choose a credit card that suits your lifestyle and offers you the maximum rewards and benefits for the kind of activities you indulge in.
What are those features you cannot negotiate in?
Credit cards come with a range of features that are there to make our life easier. Best hdfc credit card offer features such as welcome bonuses, Easy EMI, automated utility bill payment, zero liability on lost or stolen cards, fuel surcharge waiver, and insurance cover. Before proceeding with the hdfc credit card application process, it makes sense to compare the features with other credit cards that offer the same benefits.
Make a comparison table of different charges: Even the best hdfc credit card comes with different charges that one should be aware of. Here we list down some of the common charges that you can compare across different lenders:
Annual fees: Most of the lenders, even Best hdfc credit card, will certainly charge you an annual fee but waive it off if you achieve minimum spending.
Finance charges: Banks are liable to charge you a finance charge on non-payment or part payment of outstanding balance by the due date when you use revolving credit, carrying your outstanding amount beyond your due date. These charges are levied right from the date of the transaction until the repayment of the entire outstanding.
Late payment and over-limit fee: The bank can charge you a late payment fee if you pay your outstanding amount after the due date or spend over your credit limit.
Cash withdrawal fee: If you withdraw money from an ATM with your Credit Card, the bank is liable to attract charges and interest over it. To compare these charges across different lenders.
Decide which type of credit card suits your needs: Usually, credit cards are separated into three main types: rewards, 0% APR and building credit. If you have no debt and have already established good credit, going for a rewards credit card can help you offset the cost of purchases. These cards usually come in the form of miles, points, and cashback that can be redeemed for gift cards, airfare, hotels, and more. But if you want to get out of debt, a 0% APR credit card can be a good option that offers no interest on purchases.
So you have found the best credit card; what’s next for you?
Choosing the best credit card is an important decision, and after figuring out the best hdfc credit card or other best card from different banks, don’t stop there. Use your credit card the right way; after all, it is the money you owe to the bank. If you aim to build a credit history, pay your bill in full every month, and don’t use too much of your available credit to keep the CUR low. Remember, the credit card should help you achieve your financial goals most efficiently and affordably possible, not push you into the debt hole. It is easy to get tempted with a high credit limit and spend more than you are earning, but this is where you need to stop yourself and use credit effectively.
So we are saying,
Unfortunately, there is no perfect single card that can help you meet your needs. The second best way to find the right credit card for you is to analyze your personal spending patterns and interest in rewards. Experts also recommend that one should step back and understand their reason for opting for a card as this will help you in your decision-making process before hdfc credit card apply. No doubt, Credit cards have numerous benefits, from offering you an interest-free period of up to 45 days to being useful for hassle-free transactions online and offline. But also remember that credit card is a double-edged sword that can destroy your credit history if not handled well. Hence, you need to know all the details related to a credit card before you proceed with the hdfc credit card application or other credit card application process. All credit cards come with monthly credit limits. If your lifestyle involves travelling quite often, dining, or you like to socialize much, choosing a credit card with higher credit limits makes sense. But if you are going to use your card infrequently, choose a credit card with a lower credit limit.