Before applying for a credit card, it is essential to know how a credit card functions. They are an excellent payment medium and offer more benefits in comparison to debit cards. There is, however, a common misconception that credit cards can lead to debts. This is the reason why the number of debit card owners far exceeds the number of credit card owners.

The truth is that credit cards are the best tool to ensure that your expenses remain under control if the bill is cleared within the grace period. Doing this ensures that your debt remains under control and you get a number of rewards too.

Before you apply for credit card, here are a few points which you need to remember before applying for a credit card -

Choosing the Best Card

Every credit card offers reward points which can be utilized depending on your lifestyle and purchasing behavior. These, in turn, determine the type of credit card you should opt for. These include, travel credit cards if you travel frequently as such as a card can be used for buying tickets and making hotel bookings using the credit points.

Similarly, fuel credit cards wave off fuel surcharge and provide additional cashback on fuel purchase. Many lenders also offer double reward points for any transactions which are made at fuel stations using a fuel credit card.

Interest Rates and Other Fees

If you are unable to pay the credit card dues on time, then interest is levied on the amount outstanding. It is thus essential to check out the applicable interest rates before applying. Also, ensure that you check out the other fees such as joining fee, annual fee, foreign transaction fee, cheque payment fee, late payment fees, balance transfer fees etc.

If you are looking for a credit card, then do check out the RBL Bank Super Card. It offers the power of four cards in one - credit card, cash card, loan card, and EMI card and on top of that, you get all the benefits of a regular credit card.