We all are aware of the benefits offered by credit cards. However, the main concerns for most of the credit card holders are –
- Which is the best credit card?
- Which of the cards offers maximum benefits?
Here is this blog which is going to make your search easier.
The fact remains that the card which is best for you can’t be best for all. When coming to a credit card one should always opt for it by analysing their own uses and requirements.
Let’s say- Ronak is in a corporate job where he needs to travel frequently for meetings. So, he decides to have a credit card that offers major benefits on travel (flight ticket booking/ hotel stay). Now a friend of his is applying for the same credit card after hearing Ronak. His friend is in an IT job and, and travels only once or twice a year. So, do you think his friend will be equally benefited with that card as Ronak? Obviously no, his friend should have analysed his uses and should have applied for a credit card as per the requirement.
Here are some of the benefits offered by credit cards which you can look to have in yours!
A Warm Welcome
Nothing feels better than a memorable start, and that you can get if you choose the right Credit Card. Most of the credit cards come with welcome reward points, coupons and many other welcome benefits.
Joining fees and annual fees
There are credit cards which come with zero joining fees whereas there are cards which charge hundreds to thousands as onboarding fees. So, you need to differentiate between them and look for the benefits they offer. Paying onboarding fees is not a bad idea if the card offers good benefits.
The same is true with the annual charges, some credit cards come with zero annual charges and few offer annual charges waivers under certain terms and conditions. So, it totally depends on your requirements and affordability.
Who doesn’t love getting rewarded! The rewards from credit cards not only make you smile but also they can be redeemed to get vouchers and can be used for your next purchase as well. There are credit cards which offer 1 to 4 reward points for every ₹ 100 to ₹ 500 spent at select online partner websites and for transactions made.
With a Moneyback Card, you can redeem reward points as cashback against your outstanding amount. Basically for some cards, 100 points = ₹20/₹10.
Apart from this, some cards offer travel benefits while some offer benefits of lifestyle purchases such as on shopping, dining, and fuel purchase. So, before you choose yours you have to be careful regarding your requirements.
Fuel Freebies/ Travel Perks
The commute may not be a big part of your day given the current scenario, but it always helps to save money on fuel, doesn’t it? Some cards offer a fuel-surcharge waiver every time you fuel up at a petrol pump.
Similarly, some credit cards offer cashback/rewards each time we book a flight ticket. The card also provides you with free access to the airport lounge providing you with a comfortable stay at the airport with free meals.
The credit cards come with great benefits but if not managed properly it can lead to a debt trap. So, make sure you are making timely payments and using your credit card in a limit.