There are hundreds of credit cards available, so shop around to find the best credit card in India 2021 for the salaried person that best suits you.
Start by thinking about what you want to use the best credit cards 2021 for. This could be to buy things online or on vacation, to pay your bills, or to spread out the cost of a purchase. However you choose to use your card, the important thing is whether you are paying what you owe each month or spreading the repayment over a period.
If you want to use the card to borrow and you’re not paying off the balance every month, you’ll usually have to pay interest. In this case, you will need to decide on a card with a lower rate. Don’t forget to make sure you can make regular payments.
Checklist of things to keep in mind while choosing the best credit card 2021
Everyone thinks that knowing the features and benefits of the card is enough to apply for it but before applying you should do a self-analysis of your needs and objectives of using a credit card. There are many purposes of using the best credit card in India 2021 for salaried persons so first, you have to look at the purpose for which you are applying for the card.
Here’s a checklist of some things to look for when choosing a credit card:
- Annual Percentage Rate (APR). This is the cost of borrowing on the card if you do not pay off the balance in full each month. You can compare APRs for different cards which will help you choose the cheapest one. You should also compare other things about the card, for example, fees, charges, and incentives.
- Minimum repayment. If you do not pay the balance every month, you will be asked to repay the minimum amount. This is usually around 3% of the balance payable or £5, whichever is higher
- Annual Fee. Some cards charge a fee each year for card use. The fee is added to the amount payable and you will have to pay interest on your expenses along with the fee until you pay it in full
- Check in the credit agreement to see what other charges apply to the card. You will usually be charged for exceeding your credit limit, using the card abroad, and making late payments
Self-analysis of credit card requirement
- Increasing CIBIL Score:– There are some individuals who prefer to use the best credit cards 2021 to rectify their bad credit history. Individuals with a positive CIBIL score use the card to increase it. So that in the future they can take different types of loans.
- Earn Rewards, Cashback & Discounts:- Most of the credit cards have discounts and cashback offers on shopping, flight ticket booking, hotel booking, and many more. So if you want to earn reward points and enjoy discounts then you should look for such credit cards.
- Carrying out heavy transactions:- If you want to buy something expensive and you are not able to deposit enough money then a credit card can help you. So choose a credit card that has a higher credit limit.
- Performing EMI Transactions:- Some credit cards offer EMI options to buy something expensive, so in such a case you should go for a credit card with no additional interest EMI option. Therefore, you should first analyze your needs and then choose the best credit card in India 2021 for a salaried person.
Now you know how to choose the best credit cards 2021 for the first time in India. First, do a self-assessment of the credit card requirement and then go to the specification of the credit card. See charges, charges, payment options, and all current offers on the card in the card’s specifications. After going through all the retail details, you will definitely choose the best credit for you.