Tips On How To Compare Credit Cards

Compare Credit Cards Online is one universal piece of advice we have all heard from someone when we are close to getting a new Credit card! While the notion is rather best, it’s high time we also throw some light on – How to Compare Credit Cards? What are the correct websites? And most importantly, what are the correct bases on which the comparison should be done?

In this article, we will talk about how to compare credit cards effectively:

➔ Compare the return on the card

When you compare credit cards online, make sure you know how much is the return on the card. It means checking the fees levied by the credit card and the rewards and savings it proposes. It is always prudent to choose a card in which the rewards cover the cost of the Card.

➔ Category of the Card

It is vital to compare the various categories of credit cards to ascertain which variety matches your spending patterns. If you are someone who likes to travel now and then, pick the Travel Credit Card Category. Similarly, if you like to save on your daily expenses then try looking for a lifestyle Credit Card.

➔ Reward points policy

Different Credit Cards offer diverse Reward Program, you should certainly compare these categories to determine which presents a reward program that matches your spending habits the most. For Example, if you like to save more on travels then you might be looking for a credit card that offers miles and discounted hotel stays as a crucial part of its reward program.

➔ Redemption Policy

As discussed above, the Cardholders earn compelling rewards as they use their credit cards for different purposes. Now, the reward redemption policy of credit cards can be different. Some may allow you to redeem your reward points into cashback points, vouchers, gift cards, coupons, miles, etc., and at the same time, others may provide you with very limited options to redeem your points. One should always compare the redemption policy of cards to see whether it lets you redeem the points as per your desire or not.

➔ Limitations and Expiration period

The reward points, air miles, vouchers, coupons, etc. also have an expiration period. Although, there are certain credit cards in which there is no expiration period and very few limitations. These are the cards that you are looking for so that you have the liberty to redeem them as per your necessities.

➔ Interest Rates

Another tip on how to compare credit cards is to look out for Interest rates that you’ll be charged on your credit card transactions. The interest begins to accrue immediately after the grace period ends that is provided by the company according to its policies. Choose a card with a low-interest rate.

➔ Credit Limits

The maximum amount of credit a financial institution will provide to a customer on a credit card or line of credit is referred to as a credit limit. If you have a good credit score and have a habit to spend highly then consider the ones with high credit limits.

➔ Compare the Credit Card Issuers in India

Many financial institutions offer Credit Card facilities. Along with the benefits, features, and characteristics of the Credit Card, it is also necessary to compare the credit card issuers in India to check for authenticity, customer-centric policies, etc. The better and more reliable the issuer, the more delightful the experience will be.

Additional Reading – 6 Reasons Why You Should Opt for Axis Bank Credit Cards