Apply for Credit Card
Different types of Credit Cards
Shopping Credit Cards
Cashback Credit Cards
Rewards Credit Cards
Fuel Credit Cards
Lifestyle Credit Cards
Pros & Cons of Credit Card
Pros
- Easy access to credit money when required
- A strong foundation built for your Credit Line
- EMI facility for your purchases
- Great Incentives and amazing offers
- Interest free flexible credit period from 60-90 days
- Record of expenses easily available
- Purchase protection so you don't have to worry
- Get travel and free products with Card Reward Point
Cons
- There is a minimum due trap with unreasonable interest
- You must be aware of the Hidden Costs
- Easy to get addicted to overuse
- Extremely high interest rates
How to effectively use a Credit Card?
- It is recommended to read the fine print (so that you know all the fees and other details) regarding your credit card.
- Only spend 20% of your monthly income using Credit Card
- Restrict your spending to avoid racking up excessive charges to your card.
- Frequently check your credit limit and keep an eye on spending once you’ve passed 40 of your available credit limit.
- Opt for an EMI option for large card purchases if you want to pay the minimum interest for your outstanding balance.
- Remain above 40% of your credit limit at all times for important purchases.
- Keep your purchases planned and spend your money only what you’ve allotted for such purchases. Stay away from impulse buys on your credit card.
