Which Bank Offers The Best Credit Cards In India In 2022?

Credit cards in India come in thousands of variations. It is evident that choosing the cards that will benefit you the most is difficult. It’s crucial because it could put thousands of funds back in your pocket if you choose the best credit card. It can also help you save money, reward you for using the card for travel, charge a low-interest rate, etc. 

Understanding late payments and being generous with debt transfers are other qualities of the best credit cards in India. 

Characteristics That Will Interest And Be Helpful To You With The Following Factors

• Big Sign-Up Bonuses-

Numerous cards include sizable sign-up bonuses. The size of the bonus can change over time. For instance, a card may offer 50,000 points once you spend a certain amount within the first three months. These points may be worth Rs. 40,000 or more when redeemed. A credit card used for travel falls explicitly under this category.

• No Annual Fee-

It is simple to avoid this cost because most credit card do not impose one. But there are situations when a fair fee might be well worth it. For instance, a card that costs Rs. 8,000 a year but offers Rs. 25,000 or more in value may be a good example.

• No Penalty Apr-

Credit card firms may increase your interest rate to 25% or higher as a penalty APR when you pay a bill late. Check the small print on a credit card to determine whether there is a penalty APR. Think about not using the card if there is one. 

• Low-Interest Rates-

The easiest way to utilise a credit card is to pay it monthly. Select cards with competitively low interest if there’s a potential that you could occasionally have a balance. Find out what the rate will probably be as soon as the introductory APR of 0% on a credit card expires.

• Zero Percent Interest-

Seek the card that will waive interest charges between 15 and 21 months. This is considered a decent debt transfer credit card. The ideal option is a longer time frame. Even 15 months may be sufficient, depending on your circumstances.

• No Balance Transfer Fee-

Some balance-transfer cards will charge you 3% to 5% of the total amount when you move money from one card to another. Choose cards that don’t charge a fee, at least at the time when you make your transfer. It could still be worthwhile in some circumstances.

• No Foreign Transaction Fee-

You would see currency exchange-related costs on your statement if you make purchases from overseas merchants or when travelling abroad. You can economise a good deal of money using a card that doesn’t charge a foreign transaction fee. This feature is helpful when you frequently go abroad and only shop online from international stores.

• Credit-Boosting Tools-

It is helpful to be able to check your credit status occasionally if you’re trying to raise your credit score. You might want to make sure that your score is still decent. These days, many cards provide you access to your credit score. Some even print it on your monthly statement.

• Cashback And Rewards-

Many cards available give you an overall cashback rate of 1.5% or 2%. And other cards give up to 5% or 6% back on certain spending areas. Some cards feature pre-determined cashback rates for specific categories. Others cycle extra-big reward categories every three months. Pick the categories wisely.

These are the factors that make a credit card the best. Carefully choose your credit card based on these factors. Many banks and lenders accessible in the market give you all the benefits. Consider one bank the best based on these categories.