You’re Guide to Credit Card

To find the best credit card out of 200 offered in the market it is not an easy task to do. If you choose a credit card and by the end of the month it is piled up with heavy bills which can become really stressful. We will discuss some useful tips in this article which will really help you out to choose the best credit card out in the market.

How often do you use a credit card?

Before you even buy a card, you should have a rough estimate on how often you will use your card? Will you spend it on daily basis? Or you will spend on the purchase of air ticket? Or you will use it for purchasing the groceries? Or paying your utility bills? This will give you a rough idea on either do you even need a credit card or not?  What should be limit of the card based on your daily usage?

Fees

Almost all the banks can give you a credit card free of cost but whenever you receive a promotional call for a credit card do mind asking them about the annual charges which can cost you up to 2000 AED. On the other hand, when you buy a credit card by paying a fee it does comes with certain benefits one is always looking for. For example, if you purchase an airline ticket you will be rewarded the lounge facility free of cost or on the purchase of groceries, you will be awarded the points that you might spend to avail discounts or on the purchase of additional items in groceries or you can avail promotional discounts and much more.

Interest Rates

By seeing a single digit interest rate might make you happy until you understand they are applied on monthly basis and can go up to 48%. But the Islamic Banks offering Sharia-compliant credit cards and interest-free credits cards worth considering.

Reward Program

Air miles, bonuses, cash back, rewards and other loyalty program are worth considering. In order to enjoy the reward program, you should know how often you will use a credit card? The loyalty program sometimes comes with certain terms and conditions e.g. limited retailers discount and minimum amount spent etc. Some of the banks also offer the welcome rewards that you can avail by calling the designated bank helpline.

One plus Three

Most banks offer complimentary cards along with the main card e.g. they offer separate card for online shopping etc. Now it entirely depends upon you whether to get tempted by certain offers or not. But once again we advise to sticking to the reason on the first place why you need a credit card? And always prefer to buy a single credit card instead of carrying three along with you.

International Use

Are you planning to use your card on international journey or shopping? Even before buying inquire regarding the international usage rates. Mostly it is charged at the rate of 2% to 3% on the total amount spent on each transaction made.

Credit Shield

It is worth considering activating the credit shield at a negligible amount. In case of unfortunate events i.e. death, unemployment or injury and you fail to repay the outstanding amount.  Basically, it is an insurance policy for an outstanding amount on your credit card.

Instalment Plans

Most banks provide the convenience for its customers to purchase certain products on monthly instalments ranging from three months and onwards.

Terms and Conditions

We always ignore the terms and condition without even reading it.   Take your time and always read the terms and conditions before the purchase of your new card.