Which Credit Card Should You Consider Based on Your Budget?

In India, credit cards have found such an extent of popularity that financial institutions today offer a wide variety of these cards. Nonetheless, each card is suitable for different demographic and different purposes. 

Here is a look at some of the common credit card types based on budgetary requirements -

• Travel cards – Some individuals frequently travel, either for vacations or for business purposes. Regardless of the reasons for trips, travel credit cards offer increased benefits when using the same to book flight tickets and hotels.

• Co-branded cards – Financial organizations often create credit cards in collaboration with popular lifestyle, apparel, travel, or eCommerce brands. With these products, individuals can receive additional discounts when spending on that particular brand or online platform.  

• Titanium cards – A type of premium card, titanium credit cards come with several benefits, including high cash withdrawal limit, frequent flyer miles, and much more. Thus, the limit is upgraded as cardholders repay outstanding dues. Additional features include a specialized rewards program, enhancing savings through increased point generation.   

• Silver cards – Silver cards represent the most basic option, which is characterized by nominal joining and annual fees. Additionally, such cards come bearing restricted credit limit.

• Gold cards – Gold credit cards provide substantially higher credit limits when compared to silver cards. Apart from the increased limit, one can also opt for add-on cards for his/her family members.

• Platinum cards – These credit cards represent the most expensive options. They provide a wide variety of benefits and reward points on lifestyle, shopping, dining, and many other expenses. 

The Bajaj Finserv RBL Bank SuperCard is one such premium credit card, offering unmatched reward point benefits. Thus, one needs to be mindful regarding the card he/she chooses to maximize savings from them.