The best credit cards extend an unparalleled level of convenience and feasibility to the cardholder. This is one of the reasons why these plastic cards are highly sought-after by most people, and especially the youth.
It’s amazing how a small piece of plastic that sits in your pocket bestows on you the power of purchasing countless items, from coffee to a car.
Moreover, owning a credit card allows the cardholder to avail of short-term finance in a seamless manner.
A credit cardholder has the ability to utilize it for many other things, such as withdrawing cash and saving money by means of offers and cashback.
Free credit cards are extremely popular in today’s time, owing to their ease of acquisition and other advantages. These cards relieve the cardholder from all the nuisance associated with joining fees and annual fees.
In addition to this, they offer a range of amazing rewards for making payments through them. Thus, a free credit card can cut down your annual card maintenance charges while providing the various benefits of a regular credit card.
Another perk of free credit cards is that they can also aid in improving the credit score of the cardholder. This can be achieved by using them in a reserved manner, resulting in lowering the user’s credit utilization.
Every free credit card comes with its own set of features and benefits. It is important to conduct your research properly and explore all brands that offer free credit cards before finalizing one.
To find the best credit card for yourself, carefully analyze your specific requirements, and assess the cost-benefit relationship with different credit cards. This way, you can make an informed decision. Let’s find out the simple ways to find your ideal free credit card.
Explore
The first step is to get information on all the free credit cards from major banks. This will help you make a pool of cards that you like at first glance. The information you need to assimilate can be broken down into three categories:
- Type of Credit Card – Find out all the types of credit cards available such as low-interest cards, student or secured cards, and cards with rewards and benefits. These cards help you save on interest, build or rebuild your credit, and earn rewards respectively. Identify your purpose of getting a credit card, and find out which type suits you the best.
- Features and Benefits – Find out the specifics of features and perks that come with each credit card. There are several types of credit cards based on the benefits they extend, such as shopping cards, travel cards, and business cards. Additionally, they come with various other features such as automatic credit limit increase, no late fees, and no expiration date on rewards.
- Charges and Fees – Finally, you need to check all the fees and charges attached to the credit card. These could include late payment fees, cash withdrawal charges, duplicate statement charges, and mobile alert charges to name a few. At times, there are hidden charges that people tend to ignore at the time of applying for a credit card. Make sure you know all of these in detail. The best credit card for you is the one that you feel comfortable with.
Compare
Once you have all the necessary information on all the free credit cards, the next step is to compare these to ascertain which card suits your preferences and requirements. This can be done on the basis of the following factors:
- Benefits – If you shop frequently, go with a credit card that offers shopping points and discounts on purchases. If you travel often, select a card that offers travel benefits such as pre-trip assistance, exclusive hotel reservation, and other concierge services. Cards also offer rewards redemption points, so one must be careful while comparing. Furthermore, some cards offer unique features that could be extremely useful. For instance, the Bajaj Finserv RBL Bank SuperCard works like a credit card, cash card, loan card, and EMI card, with an outstanding rewards point program. This card also comes in different variants based on lifestyle needs.
- Repayment – Figure out which card would be the most convenient for you based on your payment patterns. Consider the interest rates, credit limits, and overall cost of holding the card. If you’re applying for a credit card for the first time, contact the credit card company’s representative and enquire about the maximum credit limit that you would get. Based on these specifications, go for the card that you would be able to repay with ease.
- Value – Ultimately, the choice of your credit card depends on the value it extends to you. You need to select a card based on whether you want a credit card to improve your CIBIL score, purchasing big-ticket items, or saving money with rewards and discounts. If you apply for a free credit card keeping in mind all the above-mentioned factors, chances are high that your application will be approved quickly.
Final word
In conclusion, it’s good to conduct thorough research and analysis, in order to find the best free credit card. An easy way to go about it is to explore all facets of credit cards available, including the type of card, features, benefits, and fees attached to the card. Secondly, one must determine which card would be most suitable to them by comparing the benefits to their own lifestyle, repayment structure, and the value derived from the card. This will ensure that you get maximum value and avoid any inconvenience.
