Credit card is a plastic card issued by a bank or a financial institution, allowing a consumer to purchase goods and services on credit. It is a digital alternative to cash- based transactions. One can withdraw advance cash or make a purchase on credit. The consumer can pay back the due amount through monthly installments before the final due date. You can find some amazing offers on best credit cards in India at CreditKaro.com.
Log in to CreditKaro.com
Locate the “Credit Card” tab on the home Page and click on it
Provide necessary details to sort and filter out your preferences.
Choose from the displayed products and click on “compare”.
You can compare up to 3 cards.
Select the one that suits you and click on “Apply”
This is the most basic credit card with nominal annual and joining fee.
These credit cards can earn you frequent flyer points and executive lounge access when you purchase tickets using them.
These cards earn you cashbacks on every transaction at partner outlets and merchants.
These cards can earn you fuel points on making transactions at fuel pumps and helps you save money on fuel surcharge.
These are the type of credit cards through which you can earn reward points on each transaction and use those reward points for future transactions.
These cards feature the co-promoter’s logo/name on the card, these cards can earn you discounts and points at the co-promoter’s outlet.
Don’t let cash be a constraint once it involves planning your dream wedding, travel destination, house renovation or even debt consolidation. Whatever is the current need, you can avail a loan that meets the exact requirement so that you can execute your plans without facing any monetary hassles.
Carrying a plastic card in your pocket is much easier and safer than carrying hard cash, moreover there might be a situation where an individual does not have liquid cash but needs to make a big payment, this is where the credit card comes in to remove this hindrance.
There is usually a notion that credit cards are only used to make big one-time payments, but one can also add a credit card to their monthly biller and make recurring payments like electricity bills, gas bill, phone etc.
Many credit cards have cashback offers on them, which means when you make a certain purchase from partner outlets, you get a certain percentage of that purchase as cashback which is then deposited into your account.
There are many credit cards which carry reward offers, these cards are generally called “Reward cards”. These are cards with which you can earn reward points on each transaction and use them for future purchases.Best Rewards Credit Card 2018 in India.
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The most important thing to keep in mind is that you need to track the expenses which you make with your credit card. Make sure, you are adding it to a list of expenses every time you use your credit card transaction. This practice is very essential as it will save you from potential debt trap.
You must keep a close watch on your credit card statements, these statements give you a clear picture of your credit card expenses and shows all the petty charges that you have missed out on. This habit will also help you tally the actual expenses with the list you have made.
After you have activated your card, you could be eligible for a welcome benefit and reward points on making purchases or cashbacks on using your credit card. These offers are earned by you because you have qualified for it so use these benefits in your favor while these offers last.
You must control your credit card and not the other way around. It is particularly important to know the ideal credit limit for you. You must know how much money you require to cover all small and big expenses. Too high a limit can tempt you to spend unnecessarily and you could fall into a debt trap. A small credit limit cannot handle your big expenses, so it is important for you to know the ideal limit so that you can request your bank to provide you the same.
Payment of your credit card bills are especially important to your credit health. Make sure you always pay your dues on time. By paying your credit card bills on time you are not only avoiding added interest but also you are doing good for your credit report, If you do not make your payments on time, it may directly have an impact on your credit score.
It is a common notion that paying minimum due amount will buy you some time to pay the whole amount. This notion is not considered to be smart because you are only inviting extra penalties and heavy interest rate to your bill. I order to avoid falling into this trap pay your dues in full every month
It is a fact that banks investigate your credit report to check your credibility. If you have not paid your dues in time, it will show in your report and lenders would then become skeptical before lending you money.
If you have not paid your dues on time, your credit score will eventually start falling and overtime it will touch a point where you will not be able to apply for anymore credit. So, it is important that you pay your credit card bills and other loans on time if you want to stay in a comfortable situation.
If you miss you a few payments continuously, the late fee will rise to a point that you will end up losing considerable amount of money. Interest rates on credit cards are generally higher than other loan products, therefore the added interest will also add to your late payments, which is not a very comfortable scenario to be in.
No matter how punctual you have been with your payments in the past, if you miss one single due date, your credit score could take a considerable hit. You do not want your perfect score to take a hit because of just one late payment.
You may think that you are buying enough time to pay your dues buy paying the minimum due amount, but what you are not taking into consideration is that you will still be charged the late payment fee and the added interest accumulated over period of time.
If you are a defaulter, you will most certainly find it difficult to qualify for a better credit card or a higher limit on a loan. Lenders will not trust you with their money as you have history of not paying back on time. At CreditKaro, you can find lot of cards with good credit line, if you want to apply for a credit card online.
If you already have a credit card and you have been paying your bills on time, you will find it easy to get approved for a new one. You can then apply for a credit card online which has a higher limit. If you want to check out the best credit cards online
In most cases, if you send a request your lender to increase your credit limit, they may agree to do so if you have genuine reason to increase your limit. All you need to do is visit the branch or raise a request online.
You must control your credit card and not the other way around. It is particularly important to know the ideal credit limit for you. You must know how much money you require to cover all small and big expenses. Too high a limit can tempt you to spend unnecessarily and you could fall into a debt trap. A small credit limit cannot handle your big expenses, so it is important for you to know the ideal limit so that you can request your bank to provide you the same.
The easiest way to increase your credit card limit is to use your credit card regularly. If you are using it on a regular basis, your bank will realize that you need a higher limit to meet your expenses and will offer to increase the limit on your card.
In case your income has increased and you are still using an old credit card, you need to approach your bank and update them about your new income, once you have updated them with your pay slips, you’ll eligible for a higher limit on your credit card.
If you have been using a credit card for a while now, your credit limit will be upgraded by the bank itself. You just need hold it long enough.
Creditkaro.com is an online comparing portal for banking and financial products.We help you choose from various products like credit cards, personal loans, home loans, savings account and Demat.
Our aim is to make your banking experience hassle free for customers with the help of technology and some really cool content. Our interactive interface is one step towards the future. Happy Buying!
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