4 easy steps to pick the best credit card
4 easy steps to pick the best credit card
If you’re in the market for a new credit card, you may find yourself overwhelmed by the hundreds of choices. Choosing the perfect credit card for your spending habits can be a challenge because of the wide range of options available, including reward cards, no-interest cards, and cards that allow you to establish credit.
There is no one-size-fits-all credit card therefore the best and most performing credit card for one person may not be the best for another person. If you’re trying to acquire a new credit card, there are a few things you can do to help limit down your possibilities. Choosing the best credit card for your needs is as easy as shopping for other things, all you need to do is gain more information and follow a few steps as mentioned below:
Get a copy of your credit report:
The very first thing one need to do is to check their credit score and get a credit report. Getting a credit report is not a big deal these days as it is available on multiple websites and platforms. Even if you don’t have a credit card, you may get a nil credit report and learn about the variables that impact your credit score.
Depending on your credit score, you’ll be able to apply for different types of cards. In order to qualify for the best rewards credit card, you often need to have a high credit score. Starter credit cards, on the other hand, can be obtained even if your credit score is below average or if you have no credit history.
Know what you want:
First and foremost, choose what kind of credit card you require. Everyone has different expectations and needs when it comes to their credit cards, so relying on the advice of someone else may not be the best way to choose the ideal one for you.
All credit cards may be grouped into one of three general categories: Annual Percentage Rate, Rewards, or Credit Building.
Make a budget and know how much you can afford:
First, you need to know how much the credit card is going to cost you. When deciding on a credit card, keep the following costs in mind:
Membership Fee: The credit card issuer charges a one-time membership fee for offering the credit card service. High-end credit cards sometimes come with a hefty annual charge. Many introductory credit cards, on the other hand, have no annual charge and/or benefits that are equal to or more than the fee.
Most credit cards levy an annual fee ranging from Rs 500 to Rs 2000, which can be paid by the cardholder. On the other hand, some high-end credit card issuers waive the fees if you meet certain spending requirements.
An annual percentage rate (APR), often known as an interest rate is imposed if you fail to pay off your debt by the due date.
In the event that you fail to make a payback by the due date, you will be assessed a late payment fee. There is a possibility that the issuer will charge you an additional fee if you fail to pay your credit card bills on time or regularly.
For cash withdrawals made on credit cards, the credit card issuer levies a hefty fee.
Any overseas transaction, whether online or off, will be subject to a foreign transaction fee from your credit card company.
When comparing credit cards, be sure to look at the following factors:
It’s a good idea to short-list a few credit cards and then compare them using various criteria. If you’re looking for a comparison of credit cards, you’ll find several websites that provide just the exact information. Since the characteristics and advantages of these cards are almost identical, you should be able to choose the one which offers the best value. Once you’ve done your research and found the ideal credit card for your needs, it’s time to submit your application. Visit the Apnapaisa official website, choose the credit card you want, and click “Apply Now“. A confirmation email will be sent to you immediately once you submit the completed application form and all documents. An online credit card application normally takes between 7 and 30 days for delivery.
You may establish and maintain your credit score with the use of a credit card. To help you better manage your funds, if used correctly, it may become an invaluable resource. Today, credit card payments may also be made online. Choose from this list if you’re considering a credit card and see how much money you can save.