How to Apply for a Credit Card that Works for you

Choosing the right credit card is very important for managing finances properly is whoever told you that all cards are the same, doesn’t know a thing about credit cards. Opt for the Bajaj Finserv RBL Bank SuperCard to avail maximum benefits and apply for credit card today. After all, Bajaj Finserv brings pre-approved offers for credit cards, personal loans, home loan, business loans and other products, simplifying the process of getting proper financing. All you have to do is share a few basic details and check out your pre-approved offer.

• The first step is to start a research of all the major credit card options available in the market. There are hundreds of cards out there so this step is crucial. One can start by trying to figure out why they are going to use the card in the first place. It could be to pay for a holiday, or to pay the bills over time.

• Next, one needs to think about the repayment- that whether one would be paying off the bills each month or the repayment would be spread out over a period of time. If one can pay the balance in full each month, then one can take advantage of the interest free period and also look for cards that offer other incentives like cash back. Also, it is also good to look for card that charges minimum penalty, just in case you cannot make your payments at the end of the month each time like you planned.

For example, if the card is used for borrowing, then the bills are not going to be paid off each month and one will only pay interest. In that case, choose a card that charges minimum interest.

• Some other factors are, checking the APR or the Annual Percentage Rate. This is the charge of borrowing the card just in case the whole balance is not paid off each month. Compare the various cards in the market today to help you choose the cheapest.

• Some cards also charge annual fee each year for use of the card and the fee is added to the amount due and one would have to pay interest on the fee as well if the amount is not paid in full. It is also a good idea to check whether other charges are applied to the card.

• Some cards have introductory interest rates, where the interests in the initial months are much lower than the regular interest, or one does not have to pay anything at all. There are special rates for balance transfers as well.

• The loyalty points and rewards are of course, the most important aspect and be sure you get ample points for dining, traveling, buying from stores and while buying fuel.

While applying for a credit card, one must check the credit card eligibility. Application can be made online, by post, by phone or at a bank directly.

• The bank or financial institution will send a form which has to be duly filled up and information pertaining to income, among others, has to be filled in. One will also have to pay for the annual charges and the signing up charges.

• Next, it would be required to sign the credit agreement which will show how much one can borrow, when to repay, the interest that would be charged etc.

• Next, one can apply for additional card holders to have permission to use the card and entering their names.